EPWK Holdings Ltd.

EPWKFdata completeness 100%3 fiscal years on file

i. The business — what you’d actually own

Figure	FY 2023	FY 2024	FY 2025
Revenue	$19.8M¹	$20.2M¹	$27.8M¹
Net income	−$1.08M²	−$1.2M²	−$10.4M²
Operating cash flow	−$1.5M³	−$1.62M³	−$10.7M³
Capital expenditure	$5,427⁴	$1,280⁴	$4,426⁴
Free cash flow (derived)	−$1.5M³	−$1.62M³	−$10.7M³
Total debt	—	—	$1.72M⁵
Cash & equivalents	$607,449⁶	$227,826⁷	$389,348⁷
Diluted shares	292,683	478,936	519,184

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

Net assets behind them

−$2

your share of equity

Profit it earned you last year

−$201.09

Free cash flow it threw off

−$205.71

Debt you’d be carrying

$33.12

10 shares is a claim on −$2 of net worth that earned you −$201.09 and generated −$205.71 of cash last year, against $33.12 of debt.

iii. Is this a good business?

Moat signal · return on equity

— avg · 3y

Not enough data in the filings for a return-on-capital reading.

Management signal · capital allocation

+77% shares · 3y

Share count is up 77% over 3 years — owners have been diluted. Worth asking what they got for it. Total debt has held roughly steady.

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