HAMMER TECHNOLOGY HOLDINGS CORP.

HMMRdata completeness 75%14 fiscal years on file

Data notes: no data for concept 'totalDebt'

The thesis, from the filings

HAMMER TECHNOLOGY HOLDINGS CORP. earns about -1239% on equity, but has diluted owners by 2% 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

Figure	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Revenue	$2.2M¹	$2.6M²	$3.26M²	$420³	$0³
Net income	$2.47M⁴	−$4.78M⁵	−$2.58M⁵	−$1.23M⁶	−$2.8M⁶
Operating cash flow	−$78,360⁷	−$451,955⁸	−$636,706⁸	−$760,238⁹	−$855,780¹⁰
Capital expenditure	$75,503¹¹	$46,893¹²	$12,650¹²	$19,719¹³	—
Free cash flow (derived)	−$153,863⁷	−$498,848⁸	−$649,356⁸	−$779,957⁹	—
Total debt	—	—	—	—	—
Cash & equivalents	$77,606¹⁴	$482,910¹⁵	$66,688¹⁵	$0¹⁶	$18,054¹⁶
Diluted shares	60.9M	61.6M	62.2M	66.1M	62.3M

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

Net assets behind them

−$0.12

your share of equity

Profit it earned you last year

−$0.45

Free cash flow it threw off

—

Debt you’d be carrying

—

10 shares is a claim on −$0.12 of net worth that earned you −$0.45 last year.

iii. Is this a good business?

Moat signal · return on equity

-1239% avg · 5y

FY21 100%FY22 -199%FY23 -3618%FY24 —FY25 —

It earned an average -1239% on equity over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →

Management signal · capital allocation

+2% shares · 5y

Share count is up 2% over 5 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

3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)

DCF · Growth Exit 5Y

not applicable

3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)

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

10-K · period ending 2021-07-31 · accession 0001062993-23-002443 (Revenues)
10-K/A · period ending 2022-07-31 · accession 0001062993-25-002807 (Revenues)
10-K · period ending 2024-07-31 · accession 0001062993-25-016369 (Revenues)
10-K · period ending 2021-07-31 · accession 0001062993-23-002443 (NetIncomeLoss)
10-K/A · period ending 2022-07-31 · accession 0001062993-25-002807 (NetIncomeLoss)
10-K · period ending 2024-07-31 · accession 0001062993-25-016369 (NetIncomeLoss)
10-K · period ending 2021-07-31 · accession 0001062993-23-002443 (NetCashProvidedByUsedInOperatingActivities)
10-K/A · period ending 2022-07-31 · accession 0001062993-25-002807 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2024-07-31 · accession 0001062993-25-001652 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2025-07-31 · accession 0001062993-25-016369 (NetCashProvidedByUsedInOperatingActivitiesContinuingOperations)
10-K · period ending 2021-07-31 · accession 0001062993-23-002443 (PaymentsToAcquirePropertyPlantAndEquipment)
10-K/A · period ending 2022-07-31 · accession 0001062993-25-002807 (PaymentsToAcquirePropertyPlantAndEquipment)
10-K · period ending 2024-07-31 · accession 0001062993-25-001652 (PaymentsToAcquirePropertyPlantAndEquipment)
10-K · period ending 2021-07-31 · accession 0001062993-23-002443 (CashAndCashEquivalentsAtCarryingValue)
10-K/A · period ending 2022-07-31 · accession 0001062993-25-002807 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2024-07-31 · accession 0001062993-25-016369 (CashAndCashEquivalentsAtCarryingValue)