MeritValue

Dror Ortho-Design, Inc.

DRORdata completeness 75%8 fiscal years on file

Data notes: no data for concept 'totalDebt'

The thesis, from the filings

Dror Ortho-Design, Inc. earns about -134% on equity, but has diluted owners by 373% 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
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$2,5681————
Net income−$170,5092−$1.68M3−$3.57M4−$5.78M5−$2.54M5
Operating cash flow−$136,0976−$1.52M7−$2.39M8−$2.74M9−$2.06M9
Capital expenditure———$25,84910$96610
Free cash flow (derived)———−$2.77M9−$2.06M9
Total debt—————
Cash & equivalents$185,93511$1.04M12$3.35M12$549,44413$228,54013
Diluted shares202.3M437.7M296.7M672.5M957.0M

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
−$0.03
your share of equity
Profit it earned you last year
−$0.03
Free cash flow it threw off
−$0.02
Debt you’d be carrying
—

10 shares is a claim on −$0.03 of net worth that earned you −$0.03 and generated −$0.02 of cash last year.

iii. Is this a good business?
Moat signal · return on equity
-134% avg · 5y
FY21 -8%FY22 -282%FY23 -113%FY24 —FY25 —

It earned an average -134% 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
+373% shares · 5y

Share count is up 373% over 5 years — owners have been diluted. Worth asking what they got for it.

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 2 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 2 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 2021-12-31 · accession 0001839882-23-008634 (Revenues)
  2. 10-K · period ending 2021-12-31 · accession 0001839882-23-008634 (NetIncomeLoss)
  3. 10-K · period ending 2022-12-31 · accession 0001213900-24-028793 (NetIncomeLoss)
  4. 10-K · period ending 2023-12-31 · accession 0001213900-25-015289 (NetIncomeLoss)
  5. 10-K · period ending 2024-12-31 · accession 0001213900-26-021201 (NetIncomeLoss)
  6. 10-K · period ending 2021-12-31 · accession 0001839882-23-008634 (NetCashProvidedByUsedInOperatingActivities)
  7. 10-K · period ending 2022-12-31 · accession 0001213900-24-028793 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2023-12-31 · accession 0001213900-25-015289 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2024-12-31 · accession 0001213900-26-021201 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2024-12-31 · accession 0001213900-26-021201 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2021-12-31 · accession 0001839882-23-008634 (CashAndCashEquivalentsAtCarryingValue)
  12. 10-K · period ending 2022-12-31 · accession 0001213900-24-028793 (CashAndCashEquivalentsAtCarryingValue)
  13. 10-K · period ending 2024-12-31 · accession 0001213900-26-021201 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)