Foxx Development Holdings Inc.

FOXXdata completeness 100%3 fiscal years on file

i. The business — what you’d actually own

Figure	FY 2023	FY 2024	FY 2025
Revenue	$21.6M¹	$3.23M¹	$65.9M²
Net income	$58,191³	−$3.43M⁴	−$9.02M⁴
Operating cash flow	$30,176⁵	−$4.68M⁶	−$6.56M⁶
Capital expenditure	$66,899⁷	$8,743⁸	$68,336⁸
Free cash flow (derived)	−$36,723⁵	−$4.69M⁶	−$6.63M⁶
Total debt	$291,208⁹	$521,170¹⁰	$194,322¹⁰
Cash & equivalents	$1.82M¹¹	$587,448¹²	$1.88M¹²
Diluted shares	1.0M	3.3M	6.1M

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

−$8.73

your share of equity

Profit it earned you last year

−$14.67

Free cash flow it threw off

−$10.78

Debt you’d be carrying

$0.32

10 shares is a claim on −$8.73 of net worth that earned you −$14.67 and generated −$10.78 of cash last year, against $0.32 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

+514% shares · 3y

Share count is up 514% over 3 years — owners have been diluted. Worth asking what they got for it. Total debt has fallen 33% — deleveraging.

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