MeritValue

CHEETAH NET SUPPLY CHAIN SERVICE INC.

CTNTdata completeness 88%4 fiscal years on file
The thesis, from the filings

CHEETAH NET SUPPLY CHAIN SERVICE INC. earns about 6% on invested capital, and has bought back 79% of its shares over 4 years. 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.

i. The business — what you’d actually own
FigureFY 2022FY 2023FY 2024FY 2025
Revenue$55.2M1$38.3M1$455,8052$1.29M2
Net income$816,9803$133,8704−$5.19M5−$3.65M5
Operating cash flow$2.19M6$5.61M7$242,2208−$2,0758
Capital expenditure——$365,0009—
Free cash flow (derived)——−$122,7808—
Total debt$1.42M10$1.36M11$1.29M12$1.22M12
Cash & equivalents$58,38113$432,99814$1.65M15$233,21715
Diluted shares15.8M1.1M2.0M3.3M

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
$28.67
your share of equity
Profit it earned you last year
−$11.18
Free cash flow it threw off
—
Debt you’d be carrying
$3.73

10 shares is a claim on $28.67 of net worth that earned you −$11.18 last year, against $3.73 of debt.

iii. Is this a good business?
Moat signal · return on invested capital
6% avg · 4y
FY22 85%FY23 -10%FY24 -22%FY25 -28%

It earned an average 6% on invested capital over 4 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
−79% shares · 4y

Share count is down 79% over 4 years — management has been buying back stock, quietly handing owners a bigger slice. Total debt has fallen 14% — deleveraging.

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
DCF · Growth Exit 10Y
not applicable
only 1 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 1 years of FCF (need ≥3) — model not applicable
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
not applicable
diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K · period ending 2022-12-31 · accession 0001410578-24-000224 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2024-12-31 · accession 0001104659-26-032699 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2022-12-31 · accession 0001410578-24-000224 (NetIncomeLoss)
  4. 10-K · period ending 2023-12-31 · accession 0001410578-25-000318 (NetIncomeLoss)
  5. 10-K · period ending 2024-12-31 · accession 0001104659-26-032699 (NetIncomeLoss)
  6. 10-K · period ending 2022-12-31 · accession 0001410578-24-000224 (NetCashProvidedByUsedInOperatingActivities)
  7. 10-K · period ending 2023-12-31 · accession 0001410578-25-000318 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2024-12-31 · accession 0001104659-26-032699 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2024-12-31 · accession 0001104659-26-032699 (PaymentsToAcquirePropertyPlantAndEquipment)
  10. 10-K · period ending 2022-12-31 · accession 0001410578-24-000224 (LongTermDebtNoncurrent)
  11. 10-K · period ending 2023-12-31 · accession 0001410578-25-000318 (LongTermDebtNoncurrent)
  12. 10-K · period ending 2024-12-31 · accession 0001104659-26-032699 (LongTermDebtNoncurrent)
  13. 10-K · period ending 2022-12-31 · accession 0001410578-24-000224 (CashAndCashEquivalentsAtCarryingValue)
  14. 10-K · period ending 2023-12-31 · accession 0001410578-25-000318 (CashAndCashEquivalentsAtCarryingValue)
  15. 10-K · period ending 2024-12-31 · accession 0001104659-26-032699 (CashAndCashEquivalentsAtCarryingValue)