Everbright Digital Holding Ltd.
EDHLdata completeness 75%4 fiscal years on fileData notes: no data for concept 'totalDebt'; no data for concept 'interestExpense'
Everbright Digital Holding Ltd. earns about 43% on invested capital, far above its ~9% cost of capital, and has bought back 35% of its shares over 4 years — the marks of a durable business run for its owners. The estimate methods put fair value between $1.9 and $2.53 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Revenue | $815,0901 | $2.83M2 | $2.76M2 | $1.86M2 |
| Net income | $419,4783 | $925,5634 | $379,4304 | −$2.25M4 |
| Operating cash flow | $180,4785 | $640,9176 | −$280,1096 | −$2.29M6 |
| Capital expenditure | $5,4277 | $2,2058 | $87,5968 | — |
| Free cash flow (derived) | $175,0515 | $638,7126 | −$367,7056 | — |
| Total debt | — | — | — | — |
| Cash & equivalents | $1,7579 | $399,30010 | $389,65111 | $3,16711 |
| Diluted shares | 2.5M | 157,812 | 165,488 | 1.6M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $26.11 of net worth that earned you −$13.75 last year.
It earned about 43% 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 down 35% over 4 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.
The 3 estimate methods that apply put fair value between $1.9 and $2.53 a share. They rest on different assumptions, so where they diverge is the story.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth5.0%
- fcfBase$175,051
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth5.0%
- fcfBase$175,051
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$399,454
- growthAssumed0.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $1.53 |
| Base | 5.0% | $1.9 |
| Bull | 10.0% | $2.35 |
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 2022-12-31 · accession 0001213900-25-044501 (Revenues)
- 20-F · period ending 2023-12-31 · accession 0001213900-26-051572 (Revenues)
- 20-F · period ending 2022-12-31 · accession 0001213900-25-044501 (NetIncomeLoss)
- 20-F · period ending 2023-12-31 · accession 0001213900-26-051572 (NetIncomeLoss)
- 20-F · period ending 2022-12-31 · accession 0001213900-25-044501 (NetCashProvidedByUsedInOperatingActivities)
- 20-F · period ending 2023-12-31 · accession 0001213900-26-051572 (NetCashProvidedByUsedInOperatingActivities)
- 20-F · period ending 2022-12-31 · accession 0001213900-25-044501 (PaymentsToAcquirePropertyPlantAndEquipment)
- 20-F · period ending 2023-12-31 · accession 0001213900-26-051572 (PaymentsToAcquirePropertyPlantAndEquipment)
- 20-F · period ending 2022-12-31 · accession 0001213900-26-051572 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
- 20-F · period ending 2023-12-31 · accession 0001213900-25-044501 (CashAndCashEquivalentsAtCarryingValue)
- 20-F · period ending 2024-12-31 · accession 0001213900-26-051572 (CashAndCashEquivalentsAtCarryingValue)