Altamira Therapeutics Ltd.

CYTOFdata completeness 75%6 fiscal years on file

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

The thesis, from the filings

Altamira Therapeutics Ltd. earns about -92% on equity, but has diluted owners by 13% over 5 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.

i. The business — what you’d actually own

Figure	FY 2019	FY 2020	FY 2022	FY 2023	FY 2024
Revenue	—	—	—	—	—
Net income	−$6.63M¹	−$8.2M¹	−$27.8M²	−$4.31M²	−$8.46M²
Operating cash flow	—	—	−$9.09M³	−$12.8M³	−$6.11M³
Capital expenditure	—	—	—	—	$103,087⁴
Free cash flow (derived)	—	—	—	—	−$6.22M³
Total debt	—	—	—	$5.29M⁵	—
Cash & equivalents	—	—	$16,641⁶	$733,701⁶	$998,624⁶
Diluted shares	4.1M	12.9M	1.2M	1.5M	4.7M

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

Net assets behind them

$14.08

your share of equity

Profit it earned you last year

−$18.14

Free cash flow it threw off

−$13.33

Debt you’d be carrying

—

10 shares is a claim on $14.08 of net worth that earned you −$18.14 and generated −$13.33 of cash last year.

iii. Is this a good business?

Moat signal · return on equity

-92% avg · 5y

FY19 —FY20 —FY22 —FY23 -56%FY24 -129%

It earned an average -92% on equity over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →

Management signal · capital allocation

+13% shares · 5y

Share count is up 13% over 5 years — owners have been diluted. Worth asking what they got for it. Total debt has held roughly steady.

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

20-F · period ending 2019-12-31 · accession 0001213900-21-018959 (ProfitLossAttributableToOwnersOfParent)
20-F · period ending 2022-12-31 · accession 0001213900-25-037199 (ProfitLoss)
20-F · period ending 2022-12-31 · accession 0001213900-25-037199 (CashFlowsFromUsedInOperatingActivities)
20-F · period ending 2024-12-31 · accession 0001213900-25-037199 (PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities)
20-F · period ending 2023-12-31 · accession 0001213900-25-037199 (Borrowings)
20-F · period ending 2022-12-31 · accession 0001213900-25-037199 (CashAndCashEquivalents)