MeritValue

Axil Brands, Inc.

AXILdata completeness 88%10 fiscal years on file

Data notes: no data for concept 'investmentsAtFairValue'; no data for concept 'netInvestmentIncome'; no data for concept 'gainsOnRealEstateSales'; no data for concept 'realEstateImpairment'; no data for concept 'dividendsPaid'

The thesis, from the filings

Axil Brands, Inc. earns about 44% on invested capital, and has bought back 80% of its shares over 5 years. The applicable estimate puts fair value near $2.27 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.

i. The business — what you’d actually own
FigureFY 2022FY 2023FY 2024FY 2025FY 2026
Revenue$2.34M1$23.5M2$27.5M3$26.3M4$30.8M4
Net income−$182,9035$1.82M6$2M7$854,9888$2.7M8
Operating cash flow−$126,0559$2.92M10$2,67711$1.93M12−$9,63512
Capital expenditure—$65,65013$138,44514$213,48315$79,38515
Free cash flow (derived)—$2.85M10−$135,76811$1.72M12−$89,02012
Total debt—$172,58816$146,59417$140,22918—
Cash & equivalents$373,73119$4.83M20$3.25M21$4.77M22$4.46M22
Diluted shares41.9M17.9M16.2M8.2M8.3M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
Net assets behind them
$15.92
your share of equity
Profit it earned you last year
$3.27
Free cash flow it threw off
−$0.11
Debt you’d be carrying
—

10 shares is a claim on $15.92 of net worth that earned you $3.27 and generated −$0.11 of cash last year.

iii. Is this a good business?
Moat signal · return on invested capital
44% avg · 5y
FY22 —FY23 91%FY24 39%FY25 17%FY26 31%

It earned an average 44% on invested capital over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
−80% shares · 5y

Share count is down 80% over 5 years — management has been buying back stock, quietly handing owners a bigger slice. Total debt has fallen 19% — deleveraging.

reading capital allocation →

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.5.0
DCF · Growth Exit 10Y
not applicable
3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)
DCF · Growth Exit 5Y
not applicable
3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)
Earnings Power Value
$2.27
assumptions (8)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$1.82M
  • growthAssumed0.0%
Graham Number
$3.78
assumptions (1)
  • grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K · period ending 2022-05-31 · accession 0001520138-23-000335 (Revenues)
  2. 10-K · period ending 2023-05-31 · accession 0001520138-24-000274 (Revenues)
  3. 10-K · period ending 2024-05-31 · accession 0001520138-25-000275 (Revenues)
  4. 10-K · period ending 2025-05-31 · accession 0001520138-26-000360 (Revenues)
  5. 10-K · period ending 2022-05-31 · accession 0001520138-23-000335 (NetIncomeLoss)
  6. 10-K · period ending 2023-05-31 · accession 0001520138-24-000274 (NetIncomeLoss)
  7. 10-K · period ending 2024-05-31 · accession 0001520138-25-000275 (NetIncomeLoss)
  8. 10-K · period ending 2025-05-31 · accession 0001520138-26-000360 (NetIncomeLoss)
  9. 10-K · period ending 2022-05-31 · accession 0001520138-23-000335 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2023-05-31 · accession 0001520138-24-000274 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2024-05-31 · accession 0001520138-25-000275 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2025-05-31 · accession 0001520138-26-000360 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2023-05-31 · accession 0001520138-24-000274 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K · period ending 2024-05-31 · accession 0001520138-25-000275 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K · period ending 2025-05-31 · accession 0001520138-26-000360 (PaymentsToAcquirePropertyPlantAndEquipment)
  16. 10-K · period ending 2023-05-31 · accession 0001520138-23-000335 (LongTermDebt)
  17. 10-K · period ending 2024-05-31 · accession 0001520138-25-000275 (LongTermDebt)
  18. 10-K · period ending 2025-05-31 · accession 0001520138-26-000360 (LongTermDebt)
  19. 10-K · period ending 2022-05-31 · accession 0001520138-23-000335 (CashAndCashEquivalentsAtCarryingValue)
  20. 10-K · period ending 2023-05-31 · accession 0001520138-24-000274 (CashAndCashEquivalentsAtCarryingValue)
  21. 10-K · period ending 2024-05-31 · accession 0001520138-25-000275 (CashAndCashEquivalentsAtCarryingValue)
  22. 10-K · period ending 2025-05-31 · accession 0001520138-26-000360 (CashAndCashEquivalentsAtCarryingValue)