MeritValue

biote Corp.

BTMDdata completeness 100%5 fiscal years on file

Data notes: no data for concept 'interestExpense'

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$139.4M1$165M2$185.4M3$197.2M4$192.2M4
Net income$11.1M5−$969,0006$3.32M7$3.16M8$27M8
Operating cash flow$33.7M9−$9.16M10$26.9M11$45.2M12$35.2M12
Capital expenditure$1.45M13$333,00014$359,00015$6.43M16$5.02M16
Free cash flow (derived)$32.3M9−$9.49M10$26.5M11$38.8M12$30.2M12
Total debt$37M17$240.2M18$228.5M19$216.8M20$205.2M20
Cash & equivalents$130,35921$79.2M22$89M23$39.3M24$24.1M24
Diluted shares—8.1M25.7M34.3M36.7M

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
You’d own
0.000027%
of the whole company
Your share of last year’s profit
$7.38
Your share of its debt
$55.95
Your share of free cash flow
$8.23
iii. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
$13.52
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth6.7%
  • fcfBase$30.2M
DCF · Growth Exit 5Y
$11.13
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth6.7%
  • fcfBase$30.2M
Earnings Power Value
$0.95
assumptions (8)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$3.32M
  • growthAssumed0.0%
Graham Number
not applicable
book value / share count missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

iv. The price question — last, on purpose
What does today’s price assume?
Type a price. The ledger answers.
Or set your own belief
FCF growth, next 5 years6.7%
Discount rate (WACC)8.78%
Terminal growth2.5%
At your growth, a share is worth $11.13

Default growth 6.7%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.

Sources — the receipts
  1. 10-K · period ending 2021-12-31 · accession 0000950170-23-010664 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2022-12-31 · accession 0000950170-24-032101 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2023-12-31 · accession 0000950170-25-039394 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2024-12-31 · accession 0001193125-26-106099 (RevenueFromContractWithCustomerExcludingAssessedTax)
  5. 10-K · period ending 2021-12-31 · accession 0001193125-22-097864 (NetIncomeLoss)
  6. 10-K · period ending 2022-12-31 · accession 0000950170-24-032101 (NetIncomeLoss)
  7. 10-K · period ending 2023-12-31 · accession 0000950170-25-039394 (NetIncomeLoss)
  8. 10-K · period ending 2024-12-31 · accession 0001193125-26-106099 (NetIncomeLoss)
  9. 10-K · period ending 2021-12-31 · accession 0000950170-23-010664 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-12-31 · accession 0000950170-24-032101 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-12-31 · accession 0000950170-25-039394 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-12-31 · accession 0001193125-26-106099 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2021-12-31 · accession 0000950170-23-010664 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K · period ending 2022-12-31 · accession 0000950170-24-032101 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K · period ending 2023-12-31 · accession 0000950170-25-039394 (PaymentsToAcquirePropertyPlantAndEquipment)
  16. 10-K · period ending 2024-12-31 · accession 0001193125-26-106099 (PaymentsToAcquirePropertyPlantAndEquipment)
  17. 10-K · period ending 2021-12-31 · accession 0000950170-23-010664 (LongTermDebtNoncurrent)
  18. 10-K · period ending 2022-12-31 · accession 0000950170-24-032101 (LongTermDebtNoncurrent)
  19. 10-K · period ending 2023-12-31 · accession 0000950170-25-039394 (LongTermDebtNoncurrent)
  20. 10-K · period ending 2024-12-31 · accession 0001193125-26-106099 (LongTermDebtNoncurrent)
  21. 10-K · period ending 2021-12-31 · accession 0001193125-22-097864 (CashAndCashEquivalentsAtCarryingValue)
  22. 10-K · period ending 2022-12-31 · accession 0000950170-24-032101 (CashAndCashEquivalentsAtCarryingValue)
  23. 10-K · period ending 2023-12-31 · accession 0000950170-25-039394 (CashAndCashEquivalentsAtCarryingValue)
  24. 10-K · period ending 2024-12-31 · accession 0001193125-26-106099 (CashAndCashEquivalentsAtCarryingValue)