MeritValue

Health In Tech, Inc.

HITdata completeness 75%3 fiscal years on file

Data notes: no data for concept 'capex'; no data for concept 'totalDebt'; no data for concept 'interestExpense'

The thesis, from the filings

Health In Tech, Inc. earns about 31% on invested capital, but has diluted owners by 8% over 3 years — worth asking whether the growth reaches owners. The applicable estimate puts fair value near $0.23 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 2023FY 2024FY 2025
Revenue$19.2M1$19.6M2$37.6M2
Net income$3.96M3$670,4774$1.28M4
Operating cash flow$1.53M5$2.18M6$3.13M6
Capital expenditure———
Free cash flow (derived)———
Total debt———
Cash & equivalents$2.42M7$7.85M8$7.67M8
Diluted shares—53.7M57.7M

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
$2.96
your share of equity
Profit it earned you last year
$0.22
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on $2.96 of net worth that earned you $0.22 last year.

iii. Is this a good business?
Moat signal · return on invested capital
31% avg · 3y
FY23 67%FY24 13%FY25 14%

It earned an average 31% on invested capital over 3 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
+8% shares · 3y

Share count is up 8% over 3 years — owners have been diluted. Worth asking what they got for it.

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
$0.23
assumptions (8)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$1.28M
  • growthAssumed0.0%
Graham Number
$0.37
assumptions (1)
  • grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K · period ending 2023-12-31 · accession 0001213900-25-024561 (RevenueFromContractWithCustomerIncludingAssessedTax)
  2. 10-K · period ending 2024-12-31 · accession 0001213900-26-034211 (RevenueFromContractWithCustomerIncludingAssessedTax)
  3. 10-K · period ending 2023-12-31 · accession 0001213900-25-024561 (ProfitLoss)
  4. 10-K · period ending 2024-12-31 · accession 0001213900-26-034211 (NetIncomeLoss)
  5. 10-K · period ending 2023-12-31 · accession 0001213900-25-024561 (NetCashProvidedByUsedInOperatingActivities)
  6. 10-K · period ending 2024-12-31 · accession 0001213900-26-034211 (NetCashProvidedByUsedInOperatingActivities)
  7. 10-K · period ending 2023-12-31 · accession 0001213900-25-024561 (CashAndCashEquivalentsAtCarryingValue)
  8. 10-K · period ending 2024-12-31 · accession 0001213900-26-034211 (CashAndCashEquivalentsAtCarryingValue)