MeritValue

GOLDENWELL BIOTECH, INC.

GWLLdata completeness 75%7 fiscal years on file

Data notes: no data for concept 'capex'

The thesis, from the filings

GOLDENWELL BIOTECH, INC. earns about -117% on invested capital, but has diluted owners by 8% over 5 years — worth asking whether the growth reaches owners. 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 2021FY 2022FY 2023FY 2024FY 2025
Revenue$15,9671$47,8002$2,3402$1393$553
Net income−$116,9814−$985,0975−$117,3616−$131,4987−$296,4717
Operating cash flow−$205,1388−$1.07M9−$113,15310−$123,07711−$22,62911
Capital expenditure—————
Free cash flow (derived)—————
Total debt——$46,33512$173,98512—
Cash & equivalents$213,55613$45,99613$53,23114$49,40414$26,77514
Diluted shares91.5M99.0M99.0M99.0M99.0M

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
−$0.03
your share of equity
Profit it earned you last year
−$0.03
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on −$0.03 of net worth that earned you −$0.03 last year.

iii. Is this a good business?
Moat signal · return on invested capital
-117% avg · 5y
FY21 -106%FY22 —FY23 -118%FY24 -126%FY25 —

It earned an average -117% on invested capital over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
+8% shares · 5y

Share count is up 8% over 5 years — owners have been diluted. Worth asking what they got for it. Total debt has risen 275% over the same window.

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
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/A · period ending 2021-12-31 · accession 0001477932-23-000763 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2022-12-31 · accession 0001477932-24-002028 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2024-12-31 · accession 0001477932-26-004130 (Revenues)
  4. 10-K · period ending 2021-12-31 · accession 0001477932-23-002478 (NetIncomeLoss)
  5. 10-K · period ending 2022-12-31 · accession 0001477932-24-002028 (NetIncomeLoss)
  6. 10-K · period ending 2023-12-31 · accession 0001477932-25-003784 (NetIncomeLoss)
  7. 10-K · period ending 2024-12-31 · accession 0001477932-26-004130 (NetIncomeLoss)
  8. 10-K · period ending 2021-12-31 · accession 0001477932-23-002478 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2022-12-31 · accession 0001477932-24-002028 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2023-12-31 · accession 0001477932-25-003784 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2024-12-31 · accession 0001477932-26-004130 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2023-12-31 · accession 0001477932-25-003784 (LongTermDebtNoncurrent)
  13. 10-K · period ending 2021-12-31 · accession 0001477932-23-002478 (CashAndCashEquivalentsAtCarryingValue)
  14. 10-K · period ending 2023-12-31 · accession 0001477932-26-004130 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)