MeritValue

E-Home Household Service Holdings Ltd

EJHdata completeness 88%8 fiscal years on file
The thesis, from the filings

E-Home Household Service Holdings Ltd earns about -7% on invested capital, but has diluted owners by 8309% 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$74.5M1$63.8M2$66M3$50.5M3$49.4M3
Net income$6.4M4−$5.43M5−$36.2M6−$19.5M6−$3.14M6
Operating cash flow$8.67M7$4.37M8−$8.41M9−$11.5M9−$3.54M9
Capital expenditure$261,84310$4.61M11$887,83812—$292,32712
Free cash flow (derived)$8.41M7−$233,4918−$9.29M9—−$3.83M9
Total debt——$1.36M13$1.38M13—
Cash & equivalents$52.4M14$54.8M15$71.3M16$100.7M16$173M16
Diluted shares14,3253682,35716,2001.2M

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
$2,207.4
your share of equity
Profit it earned you last year
−$26.08
Free cash flow it threw off
−$31.78
Debt you’d be carrying
—

10 shares is a claim on $2,207.4 of net worth that earned you −$26.08 and generated −$31.78 of cash last year.

iii. Is this a good business?
Moat signal · return on invested capital
-7% avg · 5y
FY21 54%FY22 -25%FY23 -36%FY24 -24%FY25 -5%

It earned an average -7% on invested capital over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
+8309% shares · 5y

Share count is up 8309% 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
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. 20-F · period ending 2021-06-30 · accession 0001213900-23-083920 (Revenues)
  2. 20-F · period ending 2022-06-30 · accession 0001213900-24-091756 (Revenues)
  3. 20-F · period ending 2023-06-30 · accession 0001213900-25-104179 (Revenues)
  4. 20-F/A · period ending 2021-06-30 · accession 0001213900-23-027671 (NetIncomeLoss)
  5. 20-F · period ending 2022-06-30 · accession 0001213900-24-091756 (NetIncomeLoss)
  6. 20-F · period ending 2023-06-30 · accession 0001213900-25-104179 (NetIncomeLoss)
  7. 20-F · period ending 2021-06-30 · accession 0001213900-23-083920 (NetCashProvidedByUsedInOperatingActivities)
  8. 20-F · period ending 2022-06-30 · accession 0001213900-24-091756 (NetCashProvidedByUsedInOperatingActivities)
  9. 20-F · period ending 2023-06-30 · accession 0001213900-25-104179 (NetCashProvidedByUsedInOperatingActivities)
  10. 20-F · period ending 2021-06-30 · accession 0001213900-23-083920 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 20-F · period ending 2022-06-30 · accession 0001213900-24-091756 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 20-F · period ending 2023-06-30 · accession 0001213900-25-104179 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 20-F · period ending 2023-06-30 · accession 0001213900-24-091756 (ShortTermBorrowings)
  14. 20-F/A · period ending 2021-06-30 · accession 0001213900-23-027671 (CashAndCashEquivalentsAtCarryingValue)
  15. 20-F · period ending 2022-06-30 · accession 0001213900-23-083920 (CashAndCashEquivalentsAtCarryingValue)
  16. 20-F · period ending 2023-06-30 · accession 0001213900-25-104179 (CashAndCashEquivalentsAtCarryingValue)