MeritValue

Guardian Pharmacy Services, Inc.

GRDNdata completeness 88%2 fiscal years on file

Data notes: no data for concept 'dilutedShares'; no data for concept 'epsDiluted'; no data for concept 'interestExpense'

The thesis, from the filings

Guardian Pharmacy Services, Inc. earns about -2% on invested capital. 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$1.23B1$1.45B1
Net income−$110M2$49.2M2
Operating cash flow$58M3$100.3M3
Capital expenditure$14.7M4$13.4M4
Free cash flow (derived)$43.3M3$86.8M3
Total debt$05$05
Cash & equivalents$4.66M6$65.6M6
Diluted shares——

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

iii. Is this a good business?
Moat signal · return on invested capital
-2% avg · 2y
FY24 -36%FY25 32%

It earned an average -2% 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
— shares · 2y

Not enough history to read capital allocation.

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 2 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 2 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 0001193125-26-102172 (Revenues)
  2. 10-K · period ending 2024-12-31 · accession 0001193125-26-102172 (NetIncomeLoss)
  3. 10-K · period ending 2024-12-31 · accession 0001193125-26-102172 (NetCashProvidedByUsedInOperatingActivities)
  4. 10-K · period ending 2024-12-31 · accession 0001193125-26-102172 (PaymentsToAcquireProductiveAssets)
  5. 10-K · period ending 2024-12-31 · accession 0001193125-26-102172 (LongTermDebt)
  6. 10-K · period ending 2024-12-31 · accession 0001193125-26-102172 (CashAndCashEquivalentsAtCarryingValue)