Entree Resources Ltd.

ERLFFdata completeness 50%26 fiscal years on file

Data notes: no data for concept 'revenue'; no data for concept 'totalDebt'

i. The business — what you’d actually own

Figure	FY 2018	FY 2019	FY 2020	FY 2021	FY 2022
Revenue	—	—	—	—	—
Net income	−$5.2M¹	−$5.52M¹	—	—	—
Operating cash flow	−$777,000²	−$1.82M³	−$1.5M⁴	−$2.15M⁴	−$2.32M⁴
Capital expenditure	$6,000⁵	—	—	$33,000⁶	—
Free cash flow (derived)	−$783,000²	—	—	−$2.19M⁴	—
Total debt	—	—	—	—	—
Cash & equivalents	$6.15M⁷	$5.38M⁸	$7.26M⁸	$7.09M⁸	$6.41M⁸
Diluted shares	174.8M	175.5M	186.5M	192.7M	198.1M

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

−$2.9

your share of equity

Profit it earned you last year

—

Free cash flow it threw off

—

Debt you’d be carrying

—

10 shares is a claim on −$2.9 of net worth.

iii. Is this a good business?

Moat signal · return on equity

— avg · 5y

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

Management signal · capital allocation

+13% shares · 5y

Share count is up 13% over 5 years — owners have been diluted. Worth asking what they got for it.

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