MeritValue

CRYO CELL INTERNATIONAL INC

CCELdata completeness 100%16 fiscal years on file
The thesis, from the filings

CRYO CELL INTERNATIONAL INC earns about 50% on equity, far above its ~9% cost of capital, and has bought back 4% of its shares over 5 years — the marks of a durable business run for its owners. The estimate methods put fair value between $0.52 and $5.39 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 2021FY 2022FY 2023FY 2024FY 2025
Revenue$28.9M1$30.3M2$31.3M3$32M4$31.6M4
Net income$2.08M5$2.77M6−$9.52M7$402,0958−$2.43M8
Operating cash flow$7.93M9$8.57M10$8.92M11$6.01M12$5.48M12
Capital expenditure$1.83M13$12.2M14$6.84M15$2.4M16$230,47516
Free cash flow (derived)$6.09M9−$3.6M10$2.08M11$3.61M12$5.25M12
Total debt$1.9M17$8.73M18$8.6M19$8.48M20$8.35M20
Cash & equivalents$8.26M21$1.7M22$406,06723$560,96024$319,03124
Diluted shares8.4M8.5M8.3M8.2M8.1M

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
−$23.06
your share of equity
Profit it earned you last year
−$3.01
Free cash flow it threw off
$6.5
Debt you’d be carrying
$10.35

10 shares is a claim on −$23.06 of net worth that earned you −$3.01 and generated $6.5 of cash last year, against $10.35 of debt.

iii. Is this a good business?
Moat signal · return on equity
50% avg · 5y
FY21 50%FY22 —FY23 —FY24 —FY25 —

It earned about 50% on equity, year after year, against a ~9% cost of capital — the footprint of real pricing power. Competition usually drags returns like this back down; here it hasn't.

seeing a moat in the numbers →
Management signal · capital allocation
−4% shares · 5y

Share count is down 4% over 5 years — management has been buying back stock, quietly handing owners a bigger slice. Total debt has risen 340% over the same window.

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 v0.1.0

The 3 estimate methods that apply put fair value between $0.52 and $5.39 a share. They rest on different assumptions, so where they diverge is the story.

DCF · Growth Exit 10Y
$4.91
assumptions (10)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth0.0%
  • fcfBase$3.61M
DCF · Growth Exit 5Y
$5.39
assumptions (10)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth0.0%
  • fcfBase$3.61M
Earnings Power Value
$0.52
assumptions (8)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$402,095
  • growthAssumed0.0%
Graham Number
not applicable
diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

v. The price question — last, on purpose
Is today’s price fair?
See live price ↗
Type a price. The ledger answers.
Or set your own belief
FCF growth, next 5 years0.0%
Discount rate (WACC)8.93%
Terminal growth2.5%
At your growth, a share is worth $5.39
The three cases
Bear0.0%$5.39
Base0.0%$5.39
Bull5.0%$6.94

Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.

Default growth 0.0%= 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 2021-11-30 · accession 0000950170-23-005220 (RevenueFromContractWithCustomerIncludingAssessedTax)
  2. 10-K · period ending 2022-11-30 · accession 0000950170-24-022275 (RevenueFromContractWithCustomerIncludingAssessedTax)
  3. 10-K · period ending 2023-11-30 · accession 0000950170-25-030138 (RevenueFromContractWithCustomerIncludingAssessedTax)
  4. 10-K · period ending 2024-11-30 · accession 0001193125-26-083096 (RevenueFromContractWithCustomerIncludingAssessedTax)
  5. 10-K · period ending 2021-11-30 · accession 0000950170-23-005220 (NetIncomeLoss)
  6. 10-K · period ending 2022-11-30 · accession 0000950170-24-022275 (NetIncomeLoss)
  7. 10-K · period ending 2023-11-30 · accession 0000950170-25-030138 (NetIncomeLoss)
  8. 10-K · period ending 2024-11-30 · accession 0001193125-26-083096 (NetIncomeLoss)
  9. 10-K · period ending 2021-11-30 · accession 0000950170-23-005220 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-11-30 · accession 0000950170-24-022275 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-11-30 · accession 0000950170-25-030138 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-11-30 · accession 0001193125-26-083096 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2021-11-30 · accession 0000950170-23-005220 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K · period ending 2022-11-30 · accession 0000950170-24-022275 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K · period ending 2023-11-30 · accession 0000950170-25-030138 (PaymentsToAcquirePropertyPlantAndEquipment)
  16. 10-K · period ending 2024-11-30 · accession 0001193125-26-083096 (PaymentsToAcquirePropertyPlantAndEquipment)
  17. 10-K · period ending 2021-11-30 · accession 0000950170-23-005220 (LongTermDebt)
  18. 10-K · period ending 2022-11-30 · accession 0000950170-24-022275 (LongTermDebt)
  19. 10-K · period ending 2023-11-30 · accession 0000950170-25-030138 (LongTermDebt)
  20. 10-K · period ending 2024-11-30 · accession 0001193125-26-083096 (LongTermDebt)
  21. 10-K · period ending 2021-11-30 · accession 0000950170-23-005220 (CashAndCashEquivalentsAtCarryingValue)
  22. 10-K · period ending 2022-11-30 · accession 0000950170-24-022275 (CashAndCashEquivalentsAtCarryingValue)
  23. 10-K · period ending 2023-11-30 · accession 0000950170-25-030138 (CashAndCashEquivalentsAtCarryingValue)
  24. 10-K · period ending 2024-11-30 · accession 0001193125-26-083096 (CashAndCashEquivalentsAtCarryingValue)