Churchill Capital Corp IX/Cayman

CCIXdata completeness 50%2 fiscal years on file

Data notes: no data for concept 'revenue'; no data for concept 'capex'; no data for concept 'totalDebt'; no data for concept 'dilutedShares'; no data for concept 'sharesOutstanding'; no data for concept 'investmentsAtFairValue'; no data for concept 'netInvestmentIncome'; no data for concept 'depreciationAmortization'; no data for concept 'gainsOnRealEstateSales'; no data for concept 'realEstateImpairment'; no data for concept 'dividendsPaid'; no data for concept 'epsDiluted'; no data for concept 'interestExpense'; no data for concept 'incomeTaxExpense'; no data for concept 'pretaxIncome'

i. The business — what you’d actually own

Figure	FY 2024	FY 2025
Revenue	—	—
Net income	$8.79M¹	$8.56M¹
Operating cash flow	−$1.32M²	−$3.41M²
Capital expenditure	—	—
Free cash flow (derived)	—	—
Total debt	—	—
Cash & equivalents	$0³	$0³
Diluted shares	—	—

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

iii. Is this a good business?

Moat signal · return on equity

— avg · 2y

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

seeing a moat in the numbers →

Management signal · capital allocation

— shares · 2y

Not enough history to read capital allocation.

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 —

Different models answer different questions — which to trust when →

Sources — the receipts

10-K · period ending 2024-12-31 · accession 0001193125-26-039696 (NetIncomeLoss)
10-K · period ending 2024-12-31 · accession 0001193125-26-039696 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2024-12-31 · accession 0001193125-26-039696 (CashAndCashEquivalentsAtCarryingValue)