MeritValue

Bio Essence Corp

BIOEdata completeness 75%6 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 'dividendsPaid'

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$887,9841$621,5902$551,5062$323,9403$1.9M3
Net income−$647,5644−$809,6795−$971,8796−$1.31M7$896,1977
Operating cash flow−$1.29M8−$703,2419−$1.03M10$623,86511$1.57M11
Capital expenditure$119,49612$3,74213$3,61414——
Free cash flow (derived)−$1.41M8−$706,9839−$1.03M10——
Total debt———$56,48115$57,48216
Cash & equivalents$30317$6,26218$11418$1,37119—
Diluted shares33.0M33.0M36.0M38.0M38.0M

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
−$0.55
your share of equity
Profit it earned you last year
$0.24
Free cash flow it threw off
—
Debt you’d be carrying
$0.02

10 shares is a claim on −$0.55 of net worth that earned you $0.24 last year, against $0.02 of debt.

iii. Is this a good business?
Moat signal · return on equity
— avg · 5y

Not enough data in the filings for a return-on-capital reading.

seeing a moat in the numbers →
Management signal · capital allocation
+15% shares · 5y

Share count is up 15% over 5 years — owners have been diluted. Worth asking what they got for it. Total debt has held roughly steady.

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
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
not applicable
diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K · period ending 2021-12-31 · accession 0001213900-23-024571 (Revenues)
  2. 10-K · period ending 2022-12-31 · accession 0001213900-24-032898 (RevenueFromContractWithCustomerIncludingAssessedTax)
  3. 10-K · period ending 2024-12-31 · accession 0001213900-26-035467 (Revenues)
  4. 10-K · period ending 2021-12-31 · accession 0001213900-23-024571 (NetIncomeLoss)
  5. 10-K · period ending 2022-12-31 · accession 0001213900-24-032898 (NetIncomeLoss)
  6. 10-K · period ending 2023-12-31 · accession 0001013762-25-003850 (NetIncomeLoss)
  7. 10-K · period ending 2024-12-31 · accession 0001213900-26-035467 (NetIncomeLoss)
  8. 10-K · period ending 2021-12-31 · accession 0001213900-23-024571 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2022-12-31 · accession 0001213900-24-032898 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2023-12-31 · accession 0001013762-25-003850 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2024-12-31 · accession 0001213900-26-035467 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2021-12-31 · accession 0001213900-22-016613 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K · period ending 2022-12-31 · accession 0001213900-24-032898 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K · period ending 2023-12-31 · accession 0001013762-25-003850 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K · period ending 2024-12-31 · accession 0001013762-25-003850 (LongTermDebt)
  16. 10-K · period ending 2025-12-31 · accession 0001213900-26-035467 (LongTermDebt)
  17. 10-K · period ending 2021-12-31 · accession 0001213900-23-024571 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K · period ending 2022-12-31 · accession 0001213900-24-032898 (CashAndCashEquivalentsAtCarryingValue)
  19. 10-K · period ending 2024-12-31 · accession 0001013762-25-003850 (CashAndCashEquivalentsAtCarryingValue)