EShallGo Inc.
EHGOdata completeness 88%4 fiscal years on fileData notes: no data for concept 'interestExpense'
EShallGo Inc. earns about -60% on invested capital, below its ~9% cost of capital, but has diluted owners by 10% over 4 years — no moat visible in the numbers. The estimate methods put fair value between $0.11 and $0.62 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 | $18.3M1 | $15.1M2 | $13.6M2 | $11M2 |
| Net income | $1.83M3 | $477,6894 | $8,6524 | −$10.8M4 |
| Operating cash flow | $216,4555 | $783,9406 | $2.22M6 | −$1.28M6 |
| Capital expenditure | $919,5417 | $353,9748 | $55,2168 | $98,2378 |
| Free cash flow (derived) | −$703,0865 | $429,9666 | $2.17M6 | −$1.38M6 |
| Total debt | — | $145,6039 | — | — |
| Cash & equivalents | $2.67M10 | $4.95M10 | $5.36M10 | $7.6M10 |
| Diluted shares | 20.0M | 20.1M | 20.4M | 22.1M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $4.74 of net worth that earned you −$4.89 and generated −$0.63 of cash last year.
It earned about -60% on invested capital against a ~9% cost of capital — below the cost of funding. The numbers show no moat.
seeing a moat in the numbers →Share count is up 10% over 4 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.
The 3 estimate methods that apply put fair value between $0.11 and $0.62 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
- fcfGrowth0.0%
- fcfBase$429,966
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth0.0%
- fcfBase$429,966
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$243,170.5
- growthAssumed0.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $0.62 |
| Base | 0.0% | $0.62 |
| Bull | 5.0% | $0.69 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
Default growth 0.0%= 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/A · period ending 2022-03-31 · accession 0001410578-24-002094 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 20-F · period ending 2023-03-31 · accession 0001410578-25-001818 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 20-F/A · period ending 2022-03-31 · accession 0001410578-24-002094 (NetIncomeLoss)
- 20-F · period ending 2023-03-31 · accession 0001410578-25-001818 (NetIncomeLoss)
- 20-F/A · period ending 2022-03-31 · accession 0001410578-24-002094 (NetCashProvidedByUsedInOperatingActivities)
- 20-F · period ending 2023-03-31 · accession 0001410578-25-001818 (NetCashProvidedByUsedInOperatingActivities)
- 20-F/A · period ending 2022-03-31 · accession 0001410578-24-002094 (PaymentsToAcquirePropertyPlantAndEquipment)
- 20-F · period ending 2023-03-31 · accession 0001410578-25-001818 (PaymentsToAcquirePropertyPlantAndEquipment)
- 20-F/A · period ending 2023-03-31 · accession 0001410578-24-002094 (ShortTermBorrowings)
- 20-F · period ending 2022-03-31 · accession 0001410578-25-001818 (CashAndCashEquivalentsAtCarryingValue)