MeritValue

GenFlat Holdings, Inc.

GFLTdata completeness 88%7 fiscal years on file

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

The thesis, from the filings

GenFlat Holdings, Inc. earns about -595% on equity, and has bought back 48% of its shares over 5 years. 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 2022FY 2023FY 2023FY 2024FY 2025
Revenue$28,9421$1,8841$02$5,2343$7,8943
Net income−$1.65M4−$166,5964−$875,8215−$1.21M6−$4.67M6
Operating cash flow−$280,6557−$51,5067−$1.29M8−$2.44M9−$1.18M9
Capital expenditure——$2,41310$011$011
Free cash flow (derived)——−$1.3M8−$2.44M9−$1.18M9
Total debt—————
Cash & equivalents$26,01312$14,19212$278,75613$38,97113$49,83013
Diluted shares20.3M21.1M10.2M10.4M10.7M

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
$0.28
your share of equity
Profit it earned you last year
−$4.38
Free cash flow it threw off
−$1.11
Debt you’d be carrying
—

10 shares is a claim on $0.28 of net worth that earned you −$4.38 and generated −$1.11 of cash last year.

iii. Is this a good business?
Moat signal · return on equity
-595% avg · 5y
FY22 —FY23 —FY23 -124%FY24 -82%FY25 -1580%

It earned an average -595% on equity over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
−48% shares · 5y

Share count is down 48% over 5 years — management has been buying back stock, quietly handing owners a bigger slice.

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 2022-02-28 · accession 0001654954-23-007357 (Revenues)
  2. 10-K · period ending 2023-06-30 · accession 0001654954-24-012526 (Revenues)
  3. 10-K · period ending 2024-06-30 · accession 0001683168-25-007139 (Revenues)
  4. 10-K · period ending 2022-02-28 · accession 0001654954-23-007357 (NetIncomeLoss)
  5. 10-K · period ending 2023-06-30 · accession 0001654954-24-012526 (NetIncomeLoss)
  6. 10-K · period ending 2024-06-30 · accession 0001683168-25-007139 (NetIncomeLoss)
  7. 10-K · period ending 2022-02-28 · accession 0001654954-23-007357 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2023-06-30 · accession 0001654954-24-012526 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2024-06-30 · accession 0001683168-25-007139 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2023-06-30 · accession 0001654954-24-012526 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2024-06-30 · accession 0001683168-25-007139 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 10-K · period ending 2022-02-28 · accession 0001654954-23-007357 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  13. 10-K · period ending 2023-06-30 · accession 0001683168-25-007139 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)