CTW Cayman
CTWdata completeness 88%3 fiscal years on fileData notes: no data for concept 'totalDebt'; no data for concept 'interestExpense'
CTW Cayman earns about 56% on invested capital, 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 $0.46 and $0.66 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Revenue | $62.9M1 | $68.4M1 | $90.4M1 |
| Net income | $3.4M2 | $5.98M2 | $3.83M2 |
| Operating cash flow | $2.56M3 | $1.59M3 | $111,3753 |
| Capital expenditure | $134,7884 | $710,4574 | $584,6684 |
| Free cash flow (derived) | $2.42M3 | $877,1903 | −$473,2933 |
| Total debt | — | — | — |
| Cash & equivalents | $14.6M5 | $14.5M6 | $12.2M6 |
| Diluted shares | 60.0M | 60.0M | 60.0M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $4.61 of net worth that earned you $0.64 and generated −$0.08 of cash last year.
It earned about 56% on invested capital, 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 →Share count is roughly flat over 3 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.
The 3 estimate methods that apply put fair value between $0.46 and $0.66 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a stricter floor, not a target.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth5.0%
- fcfBase$877,190
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth5.0%
- fcfBase$877,190
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$3.83M
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $0.41 |
| Base | 5.0% | $0.46 |
| Bull | 10.0% | $0.52 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
Default growth 5.0%= 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.
- 20-F · period ending 2023-07-31 · accession 0001213900-25-111604 (RevenueFromContractWithCustomerIncludingAssessedTax)
- 20-F · period ending 2023-07-31 · accession 0001213900-25-111604 (NetIncomeLoss)
- 20-F · period ending 2023-07-31 · accession 0001213900-25-111604 (NetCashProvidedByUsedInOperatingActivities)
- 20-F · period ending 2023-07-31 · accession 0001213900-25-111604 (PaymentsToAcquirePropertyPlantAndEquipment)
- 20-F · period ending 2023-07-31 · accession 0001213900-25-111604 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
- 20-F · period ending 2024-07-31 · accession 0001213900-25-111604 (CashAndCashEquivalentsAtCarryingValue)