MeritValue

HNO International, Inc.

HNOIdata completeness 88%4 fiscal years on file

Data notes: no data for concept 'totalDebt'; no data for concept 'investmentsAtFairValue'; no data for concept 'netInvestmentIncome'; no data for concept 'gainsOnRealEstateSales'; no data for concept 'realEstateImpairment'; no data for concept 'dividendsPaid'; no data for concept 'pretaxIncome'

i. The business — what you’d actually own
FigureFY 2022FY 2023FY 2024FY 2025
Revenue$34,4501$13,0002$4,2413$65,5613
Net income−$1.07M4−$1.93M5−$3.34M6−$6.62M6
Operating cash flow−$1.12M7−$1.33M8−$1.8M9−$960,4889
Capital expenditure$010$804,87811$381,93412$227,94312
Free cash flow (derived)−$1.12M7−$2.14M8−$2.18M9−$1.19M9
Total debt————
Cash & equivalents$51,10913$235,15914$20,25515$9,52515
Diluted shares100.2M352.4M394.0M152.1M

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
−$0.11
your share of equity
Profit it earned you last year
−$0.44
Free cash flow it threw off
−$0.08
Debt you’d be carrying
—

10 shares is a claim on −$0.11 of net worth that earned you −$0.44 and generated −$0.08 of cash last year.

iii. Is this a good business?
Moat signal · return on equity
— avg · 4y

Not enough data in the filings for a return-on-capital reading.

seeing a moat in the numbers →
Management signal · capital allocation
+52% shares · 4y

Share count is up 52% over 4 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 v0.5.0
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
  1. 10-K · period ending 2022-10-31 · accession 0001262463-24-000015 (Revenues)
  2. 10-K/A · period ending 2023-10-31 · accession 0001985705-25-000033 (Revenues)
  3. 10-K · period ending 2024-10-31 · accession 0001342916-26-000008 (Revenues)
  4. 10-K · period ending 2022-10-31 · accession 0001262463-24-000015 (NetIncomeLoss)
  5. 10-K/A · period ending 2023-10-31 · accession 0001985705-25-000033 (NetIncomeLoss)
  6. 10-K · period ending 2024-10-31 · accession 0001342916-26-000008 (NetIncomeLoss)
  7. 10-K · period ending 2022-10-31 · accession 0001262463-24-000015 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K/A · period ending 2023-10-31 · accession 0001985705-25-000033 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2024-10-31 · accession 0001342916-26-000008 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-10-31 · accession 0001262463-24-000015 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K/A · period ending 2023-10-31 · accession 0001985705-25-000033 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 10-K · period ending 2024-10-31 · accession 0001342916-26-000008 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K · period ending 2022-10-31 · accession 0001262463-24-000015 (CashAndCashEquivalentsAtCarryingValue)
  14. 10-K/A · period ending 2023-10-31 · accession 0001985705-25-000033 (CashAndCashEquivalentsAtCarryingValue)
  15. 10-K · period ending 2024-10-31 · accession 0001342916-26-000008 (CashAndCashEquivalentsAtCarryingValue)