MeritValue

CREDITRISKMONITOR COM INC

CRMZdata completeness 88%16 fiscal years on file

Data notes: no data for concept 'totalDebt'; no data for concept 'interestExpense'

The thesis, from the filings

CREDITRISKMONITOR COM INC earns about 23% on equity, far above its ~9% cost of capital, with a roughly flat share count — a real edge showing up in the numbers. The estimate methods put fair value between $1.6 and $2.09 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$17.1M1$18M2$18.9M3$19.8M4$20.1M4
Net income$3.36M5$1.36M6$1.7M7$1.67M8$1.02M8
Operating cash flow$1.98M9$1.74M10$1.45M11$2.87M12$968,18812
Capital expenditure$356,81713$257,95414$303,89515$378,71416$268,26516
Free cash flow (derived)$1.62M9$1.49M10$1.15M11$2.49M12$699,92312
Total debt—————
Cash & equivalents$12.4M17$9.87M18$11M19$6.67M20$6.25M20
Diluted shares10.8M10.8M10.8M10.8M10.8M

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
$11.4
your share of equity
Profit it earned you last year
$0.94
Free cash flow it threw off
$0.65
Debt you’d be carrying
—

10 shares is a claim on $11.4 of net worth that earned you $0.94 and generated $0.65 of cash last year.

iii. Is this a good business?
Moat signal · return on equity
23% avg · 5y
FY21 55%FY22 18%FY23 18%FY24 15%FY25 8%

It earned about 23% 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
+1% shares · 5y

Share count is roughly flat over 5 years — little dilution, little buyback.

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 $1.6 and $2.09 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a stricter floor, not a target.

DCF · Growth Exit 10Y
$1.97
assumptions (10)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth0.0%
  • fcfBase$1.15M
DCF · Growth Exit 5Y
$2.09
assumptions (10)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth0.0%
  • fcfBase$1.15M
Earnings Power Value
$1.6
assumptions (8)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$1.67M
  • growthAssumed0.0%
Graham Number
$1.52
assumptions (1)
  • grahamMultiplier2250.0%

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 $2.09
The three cases
Bear0.0%$2.09
Base0.0%$2.09
Bull5.0%$2.45

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 2021-12-31 · accession 0001140361-23-013676 (Revenues)
  2. 10-K · period ending 2022-12-31 · accession 0001140361-24-014541 (Revenues)
  3. 10-K · period ending 2023-12-31 · accession 0001140361-25-009647 (Revenues)
  4. 10-K · period ending 2024-12-31 · accession 0001140361-26-010883 (Revenues)
  5. 10-K · period ending 2021-12-31 · accession 0001140361-23-013676 (NetIncomeLoss)
  6. 10-K · period ending 2022-12-31 · accession 0001140361-24-014541 (NetIncomeLoss)
  7. 10-K · period ending 2023-12-31 · accession 0001140361-25-009647 (NetIncomeLoss)
  8. 10-K · period ending 2024-12-31 · accession 0001140361-26-010883 (NetIncomeLoss)
  9. 10-K · period ending 2021-12-31 · accession 0001140361-23-013676 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-12-31 · accession 0001140361-24-014541 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-12-31 · accession 0001140361-25-009647 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-12-31 · accession 0001140361-26-010883 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2021-12-31 · accession 0001140361-23-013676 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K · period ending 2022-12-31 · accession 0001140361-24-014541 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K · period ending 2023-12-31 · accession 0001140361-25-009647 (PaymentsToAcquirePropertyPlantAndEquipment)
  16. 10-K · period ending 2024-12-31 · accession 0001140361-26-010883 (PaymentsToAcquirePropertyPlantAndEquipment)
  17. 10-K · period ending 2021-12-31 · accession 0001140361-23-013676 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K · period ending 2022-12-31 · accession 0001140361-24-014541 (CashAndCashEquivalentsAtCarryingValue)
  19. 10-K · period ending 2023-12-31 · accession 0001140361-25-009647 (CashAndCashEquivalentsAtCarryingValue)
  20. 10-K · period ending 2024-12-31 · accession 0001140361-26-010883 (CashAndCashEquivalentsAtCarryingValue)