MeritValue

Dalrada Technology Group, Inc.

DHTIdata completeness 88%8 fiscal years on file

Data notes: no data for concept 'totalDebt'

The thesis, from the filings

Dalrada Technology Group, Inc. earns about -668% on equity, and has bought back 16% of its shares over 5 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 2021FY 2022FY 2023FY 2024FY 2025
Revenue$3.41M1$19.3M2$29.7M3$19.8M4$20.3M4
Net income$91,4335−$14.1M6−$20.3M7−$28.9M8−$24.6M8
Operating cash flow−$5.58M9−$10.3M10−$4.61M11−$7.87M12−$18M12
Capital expenditure$357,96113$640,18414$693,20115$434,84516$374,45516
Free cash flow (derived)−$5.94M9−$11M10−$5.31M11−$8.31M12−$18.3M12
Total debt—————
Cash & equivalents$110,28517$772,06218$812,80619$501,92719$172,78719
Diluted shares128.9M72.2M83.8M92.2M108.5M

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
−$0.62
your share of equity
Profit it earned you last year
−$2.27
Free cash flow it threw off
−$1.69
Debt you’d be carrying
—

10 shares is a claim on −$0.62 of net worth that earned you −$2.27 and generated −$1.69 of cash last year.

iii. Is this a good business?
Moat signal · return on equity
-668% avg · 5y
FY21 —FY22 —FY23 -494%FY24 -841%FY25 —

It earned an average -668% 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
−16% shares · 5y

Share count is down 16% over 5 years — management has been buying back stock, quietly handing owners a bigger slice.

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
3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)
DCF · Growth Exit 5Y
not applicable
3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)
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 2021-06-30 · accession 0001683168-22-007171 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2022-06-30 · accession 0001683168-23-007283 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K/A · period ending 2023-06-30 · accession 0001683168-25-004299 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2024-06-30 · accession 0001683168-25-007318 (RevenueFromContractWithCustomerExcludingAssessedTax)
  5. 10-K · period ending 2021-06-30 · accession 0001683168-22-007171 (NetIncomeLoss)
  6. 10-K · period ending 2022-06-30 · accession 0001683168-23-007283 (NetIncomeLoss)
  7. 10-K/A · period ending 2023-06-30 · accession 0001683168-25-004299 (NetIncomeLoss)
  8. 10-K · period ending 2024-06-30 · accession 0001683168-25-007318 (NetIncomeLoss)
  9. 10-K · period ending 2021-06-30 · accession 0001683168-22-007171 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-06-30 · accession 0001683168-23-007283 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K/A · period ending 2023-06-30 · accession 0001683168-25-004299 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-06-30 · accession 0001683168-25-007318 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2021-06-30 · accession 0001683168-22-007171 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K · period ending 2022-06-30 · accession 0001683168-23-007283 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K/A · period ending 2023-06-30 · accession 0001683168-25-004299 (PaymentsToAcquirePropertyPlantAndEquipment)
  16. 10-K · period ending 2024-06-30 · accession 0001683168-25-007318 (PaymentsToAcquirePropertyPlantAndEquipment)
  17. 10-K · period ending 2021-06-30 · accession 0001683168-23-007283 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K/A · period ending 2022-06-30 · accession 0001683168-25-004299 (CashAndCashEquivalentsAtCarryingValue)
  19. 10-K · period ending 2023-06-30 · accession 0001683168-25-007318 (CashAndCashEquivalentsAtCarryingValue)