GREYSTONE LOGISTICS, INC.
GLGIdata completeness 88%15 fiscal years on fileGREYSTONE LOGISTICS, INC. earns about 10% on invested capital, barely covering its ~9% cost of capital, and has bought back 12% of its shares over 5 years. The estimate methods put fair value between $1.65 and $8.69 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Revenue | $64.9M1 | $74.2M2 | $60.8M3 | $61.8M4 | $57.9M4 |
| Net income | $3.63M5 | $4.55M6 | $6.39M6 | $5.03M7 | $2.35M7 |
| Operating cash flow | $15.2M8 | $6.64M9 | $3.87M10 | $12.4M11 | $10.3M11 |
| Capital expenditure | $2.91M12 | $6.13M13 | $9.18M14 | $2.8M15 | $5.75M15 |
| Free cash flow (derived) | $12.3M8 | $506,8409 | −$5.31M10 | $9.59M11 | $4.53M11 |
| Total debt | $32.4M16 | $26.9M17 | $34.3M18 | $26.9M19 | $22.2M19 |
| Cash & equivalents | $4.39M20 | $3.14M20 | — | — | — |
| Diluted shares | 32.4M | 32.3M | 32.1M | 28.8M | 28.6M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $6.96 of net worth that earned you $0.82 and generated $1.59 of cash last year, against $7.76 of debt.
It earned about 10% on invested capital against a ~9% cost of capital — roughly what it costs to fund the business, so the numbers show no clear edge.
seeing a moat in the numbers →Share count is down 12% over 5 years — management has been buying back stock, quietly handing owners a bigger slice. Total debt has fallen 32% — deleveraging.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
The 3 estimate methods that apply put fair value between $1.65 and $8.69 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a stricter floor, not a target.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth20.0%
- fcfBase$4.53M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth20.0%
- fcfBase$4.53M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$4.55M
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $1.49 |
| Base | 20.0% | $4.4 |
| Bull | 20.0% | $4.4 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
Default growth 20.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.
- 10-K/A · period ending 2021-05-31 · accession 0001493152-22-023867 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2022-05-31 · accession 0001493152-23-030394 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2023-05-31 · accession 0001437749-24-029155 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2024-05-31 · accession 0001437749-25-028050 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K/A · period ending 2021-05-31 · accession 0001493152-22-023867 (NetIncomeLoss)
- 10-K · period ending 2022-05-31 · accession 0001493152-23-030394 (NetIncomeLoss)
- 10-K · period ending 2024-05-31 · accession 0001437749-25-028050 (NetIncomeLoss)
- 10-K/A · period ending 2021-05-31 · accession 0001493152-22-023867 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-05-31 · accession 0001493152-23-030394 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-05-31 · accession 0001437749-24-029155 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2024-05-31 · accession 0001437749-25-028050 (NetCashProvidedByUsedInOperatingActivities)
- 10-K/A · period ending 2021-05-31 · accession 0001493152-22-023867 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2022-05-31 · accession 0001493152-23-030394 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2023-05-31 · accession 0001437749-24-029155 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2024-05-31 · accession 0001437749-25-028050 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K/A · period ending 2021-05-31 · accession 0001493152-22-023867 (LongTermDebtNoncurrent)
- 10-K · period ending 2022-05-31 · accession 0001493152-23-030394 (LongTermDebtNoncurrent)
- 10-K · period ending 2023-05-31 · accession 0001437749-24-029155 (LongTermDebtNoncurrent)
- 10-K · period ending 2024-05-31 · accession 0001437749-25-028050 (LongTermDebtNoncurrent)
- 10-K/A · period ending 2021-05-31 · accession 0001493152-22-023867 (CashAndCashEquivalentsAtCarryingValue)