Esperion Therapeutics, Inc.

ESPRdata completeness 88%15 fiscal years on file
i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$78.4M1$75.5M2$116.3M3$332.3M3$403.1M3
Net income−$269.1M4−$233.7M5−$209.2M6−$51.7M6−$22.7M6
Operating cash flow−$263.8M7−$174.8M8−$135.5M9−$23.7M9−$13.1M9
Capital expenditure$010$011$012$317,00012$012
Free cash flow (derived)−$263.8M7−$174.8M8−$135.5M9−$24M9−$13.1M9
Total debt
Cash & equivalents$208.9M13$124.8M14$82.2M15$144.8M16$167.9M16
Diluted shares28.9M66.4M103.1M187.2M207.9M

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
−$14.53
your share of equity
Profit it earned you last year
−$1.09
Free cash flow it threw off
−$0.63
Debt you’d be carrying

10 shares is a claim on −$14.53 of net worth that earned you −$1.09 and generated −$0.63 of cash last year.

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.

seeing a moat in the numbers →
Management signal · capital allocation
+619% shares · 5y

Share count is up 619% over 5 years — owners have been diluted. Worth asking what they got for it.

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. 10-K · period ending 2021-12-31 · accession 0001628280-23-004167 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2022-12-31 · accession 0001628280-25-011154 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2023-12-31 · accession 0001628280-26-016522 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2021-12-31 · accession 0001628280-23-004167 (NetIncomeLoss)
  5. 10-K · period ending 2022-12-31 · accession 0001628280-25-011154 (NetIncomeLoss)
  6. 10-K · period ending 2023-12-31 · accession 0001628280-26-016522 (NetIncomeLoss)
  7. 10-K · period ending 2021-12-31 · accession 0001628280-23-004167 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2022-12-31 · accession 0001628280-25-011154 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2023-12-31 · accession 0001628280-26-016522 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2021-12-31 · accession 0001628280-22-003263 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2022-12-31 · accession 0001628280-25-011154 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 10-K · period ending 2023-12-31 · accession 0001628280-26-016522 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K · period ending 2021-12-31 · accession 0001628280-23-004167 (CashAndCashEquivalentsAtCarryingValue)
  14. 10-K · period ending 2022-12-31 · accession 0001628280-24-007066 (CashAndCashEquivalentsAtCarryingValue)
  15. 10-K · period ending 2023-12-31 · accession 0001628280-25-011154 (CashAndCashEquivalentsAtCarryingValue)
  16. 10-K · period ending 2024-12-31 · accession 0001628280-26-016522 (CashAndCashEquivalentsAtCarryingValue)