CoJax Oil & Gas Corp earns about 19% on invested capital, but has diluted owners by 55% over 4 years — worth asking whether the growth reaches owners. The cash-flow models don't apply cleanly here — the ledger says why below. Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Revenue | $106,5541 | $927,9832 | $971,6863 | $963,6213 |
| Net income | −$6.24M4 | −$1.63M5 | −$1.61M6 | −$1.11M6 |
| Operating cash flow | −$78,3237 | $48,0468 | −$19,1879 | $40,5699 |
| Capital expenditure | — | — | — | — |
| Free cash flow (derived) | — | — | — | — |
| Total debt | $40,96610 | $31,07811 | $21,09512 | $11,00712 |
| Cash & equivalents | — | — | — | — |
| Diluted shares | 9.1M | 9.3M | 12.4M | 14.1M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom). A derived or summed figure cites every filing line it was built from.
10 shares is a claim on $5.56 of net worth that earned you −$0.79 last year, against $0.01 of debt.
It earned an average 19% on invested capital over 4 years. Compare that to what it costs to fund the business.
seeing a moat in the numbers →Share count is up 55% over 4 years — owners have been diluted. Worth asking what they got for it. Total debt has fallen 73% — deleveraging.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
Different models answer different questions — which to trust when →
This page is free, and so is every other company on MeritValue.
Connect the MeritValue MCP server to Claude or another MCP client, ask about CoJax Oil & Gas Corp, and get these exact figures with their filing receipts — not an improvised DCF.
Get a free key →Pull the companies with a published value under any model (up to 500 a request, filtered by data completeness) into your own sheet or agent. Screening is what Analyst adds, at $9/month.
See pricing →Follow CJAX and keep your own price beside the value. The same engine, with the same receipts.
MeritValue on the App Store →- 10-K filed 2024-03-26 · period ending 2022-12-31 · accession 0001753926-24-000615 (Revenues)
- 10-K/A filed 2025-09-10 · period ending 2023-12-31 · accession 0001753926-25-001452 (Revenues)
- 10-K filed 2026-03-25 · periods ending 2024-12-31, 2025-12-31 · accession 0001753926-26-000536 (Revenues)
- 10-K filed 2024-03-26 · period ending 2022-12-31 · accession 0001753926-24-000615 (NetIncomeLoss)
- 10-K/A filed 2025-09-10 · period ending 2023-12-31 · accession 0001753926-25-001452 (NetIncomeLoss)
- 10-K filed 2026-03-25 · periods ending 2024-12-31, 2025-12-31 · accession 0001753926-26-000536 (NetIncomeLoss)
- 10-K filed 2024-03-26 · period ending 2022-12-31 · accession 0001753926-24-000615 (NetCashProvidedByUsedInOperatingActivities)
- 10-K/A filed 2025-09-10 · period ending 2023-12-31 · accession 0001753926-25-001452 (NetCashProvidedByUsedInOperatingActivities)
- 10-K filed 2026-03-25 · periods ending 2024-12-31, 2025-12-31 · accession 0001753926-26-000536 (NetCashProvidedByUsedInOperatingActivities)
- 10-K filed 2024-03-26 · period ending 2022-12-31 · accession 0001753926-24-000615 (LongTermDebt)
- 10-K/A filed 2025-09-10 · period ending 2023-12-31 · accession 0001753926-25-001452 (LongTermDebt)
- 10-K filed 2026-03-25 · periods ending 2024-12-31, 2025-12-31 · accession 0001753926-26-000536 (LongTermDebt)