MeritValue

Future Vision II Acquisition Corp.

FVNdata completeness 63%2 fiscal years on file

Data notes: no data for concept 'revenue'; no data for concept 'capex'; no data for concept 'totalDebt'; no data for concept 'epsDiluted'; no data for concept 'incomeTaxExpense'

The thesis, from the filings

Future Vision II Acquisition Corp. earns about 237% on invested capital, with a roughly flat share count. 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 2024FY 2025
Revenue——
Net income$640,3431$2.07M1
Operating cash flow−$146,5012−$307,7962
Capital expenditure——
Free cash flow (derived)——
Total debt——
Cash & equivalents$1.33M3$1.02M3
Diluted shares1.8M1.8M

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
$10.06
your share of equity
Profit it earned you last year
$11.54
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on $10.06 of net worth that earned you $11.54 last year.

iii. Is this a good business?
Moat signal · return on invested capital
237% avg · 2y
FY24 18%FY25 456%

It earned an average 237% on invested capital over 2 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
−0% shares · 2y

Share count is roughly flat over 2 years — little dilution, little buyback.

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
only 0 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 0 years of FCF (need ≥3) — model not applicable
Earnings Power Value
not applicable
only 2 years of net income (need ≥3)
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 2024-12-31 · accession 0001829126-26-001993 (NetIncomeLoss)
  2. 10-K · period ending 2024-12-31 · accession 0001829126-26-001993 (NetCashProvidedByUsedInOperatingActivities)
  3. 10-K · period ending 2024-12-31 · accession 0001829126-26-001993 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)