MeritValue

Bryn Inc.

BRRNdata completeness 63%9 fiscal years on file

Data notes: no data for concept 'capex'; 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'; no data for concept 'incomeTaxExpense'

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue—————
Net income−$87.7M1−$4,7522−$21,2213−$44,9874−$40,0254
Operating cash flow——−$15,6775−$46,0756−$45,8006
Capital expenditure—————
Free cash flow (derived)—————
Total debt—————
Cash & equivalents$07$08$09$010$010
Diluted shares367.4M419.8M419.8M420.0M420.0M

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
your share of equity
Profit it earned you last year
−$0
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on −$0 of net worth that earned you −$0 last year.

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
+14% shares · 5y

Share count is up 14% over 5 years — owners have been diluted. Worth asking what they got for it.

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
only 0 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 0 years of FCF (need ≥3) — model not applicable
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 0001213900-25-000675 (NetIncomeLoss)
  2. 10-K · period ending 2022-12-31 · accession 0001213900-25-000956 (NetIncomeLoss)
  3. 10-K · period ending 2023-12-31 · accession 0001213900-25-031846 (NetIncomeLoss)
  4. 10-K · period ending 2024-12-31 · accession 0001213900-26-039292 (NetIncomeLoss)
  5. 10-K · period ending 2023-12-31 · accession 0001213900-25-031846 (NetCashProvidedByUsedInOperatingActivities)
  6. 10-K · period ending 2024-12-31 · accession 0001213900-26-039292 (NetCashProvidedByUsedInOperatingActivities)
  7. 10-K · period ending 2021-12-31 · accession 0001213900-25-000675 (CashAndCashEquivalentsAtCarryingValue)
  8. 10-K · period ending 2022-12-31 · accession 0001213900-25-000956 (CashAndCashEquivalentsAtCarryingValue)
  9. 10-K · period ending 2023-12-31 · accession 0001213900-25-031846 (CashAndCashEquivalentsAtCarryingValue)
  10. 10-K · period ending 2024-12-31 · accession 0001213900-26-039292 (CashAndCashEquivalentsAtCarryingValue)