MeritValue

Globavend Holdings Ltd

GVHdata completeness 88%5 fiscal years on file

Data notes: no data for concept 'totalDebt'

The thesis, from the filings

Globavend Holdings Ltd earns about 87% on invested capital, far above its ~9% cost of capital, and has bought back 97% of its shares over 5 years — the marks of a durable business run for its owners. The estimate methods put fair value between $19.84 and $25.57 a share.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 2021FY 2022FY 2023FY 2024FY 2025
Revenue$13.3M1$24M2$18.6M2$16.5M2$23.6M3
Net income$564,7584$810,2275$1.08M6$1.34M6$682,9826
Operating cash flow$875,0867$783,0458$2.02M9$326,0899$240,3559
Capital expenditure$1,19210$9,24711$7,45512$592,58512$8,33312
Free cash flow (derived)$873,8947$773,7988$2.01M9−$266,4969$232,0229
Total debt—————
Cash & equivalents—$557,73513$554,13214$2.3M15$7.51M15
Diluted shares13.1M13.1M65,62572,798423,124

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
$237.2
your share of equity
Profit it earned you last year
$16.14
Free cash flow it threw off
$5.48
Debt you’d be carrying
—

10 shares is a claim on $237.2 of net worth that earned you $16.14 and generated $5.48 of cash last year.

iii. Is this a good business?
Moat signal · return on invested capital
87% avg · 5y
FY21 36%FY22 238%FY23 —FY24 47%FY25 27%

It earned about 87% on invested capital, year after year, against a ~9% cost of capital — the footprint of real pricing power. Competition usually drags returns like this back down; here it hasn't.

seeing a moat in the numbers →
Management signal · capital allocation
−97% shares · 5y

Share count is down 97% 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

The 3 estimate methods that apply put fair value between $19.84 and $25.57 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a stricter floor, not a target.

DCF · Growth Exit 10Y
$24.98
assumptions (10)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth0.0%
  • fcfBase$232,022
DCF · Growth Exit 5Y
$25.57
assumptions (10)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth0.0%
  • fcfBase$232,022
Earnings Power Value
$19.84
assumptions (8)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$810,227
  • growthAssumed0.0%
Graham Number
$29.31
assumptions (1)
  • grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

v. The price question — last, on purpose
Is today’s price fair?
See live price ↗
Type a price. The ledger answers.
Or set your own belief
FCF growth, next 5 years0.0%
Discount rate (WACC)8.93%
Terminal growth2.5%
At your growth, a share is worth $25.57
The three cases
Bear0.0%$25.57
Base0.0%$25.57
Bull5.0%$27.47

Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.

Default growth 0.0%= 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.

Sources — the receipts
  1. 20-F · period ending 2021-09-30 · accession 0001493152-24-004309 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 20-F · period ending 2022-09-30 · accession 0001493152-25-006117 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 20-F · period ending 2025-09-30 · accession 0001213900-26-016589 (Revenues)
  4. 20-F · period ending 2021-09-30 · accession 0001493152-24-004309 (NetIncomeLoss)
  5. 20-F · period ending 2022-09-30 · accession 0001493152-25-006117 (NetIncomeLoss)
  6. 20-F · period ending 2023-09-30 · accession 0001213900-26-016589 (NetIncomeLoss)
  7. 20-F · period ending 2021-09-30 · accession 0001493152-24-004309 (NetCashProvidedByUsedInOperatingActivities)
  8. 20-F · period ending 2022-09-30 · accession 0001493152-25-006117 (NetCashProvidedByUsedInOperatingActivities)
  9. 20-F · period ending 2023-09-30 · accession 0001213900-26-016589 (NetCashProvidedByUsedInOperatingActivities)
  10. 20-F · period ending 2021-09-30 · accession 0001493152-24-004309 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 20-F · period ending 2022-09-30 · accession 0001493152-25-006117 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 20-F · period ending 2023-09-30 · accession 0001213900-26-016589 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 20-F · period ending 2022-09-30 · accession 0001493152-24-004309 (CashAndCashEquivalentsAtCarryingValue)
  14. 20-F · period ending 2023-09-30 · accession 0001493152-25-006117 (CashAndCashEquivalentsAtCarryingValue)
  15. 20-F · period ending 2024-09-30 · accession 0001213900-26-016589 (CashAndCashEquivalentsAtCarryingValue)