Idaho Strategic Resources, Inc.
IDRdata completeness 100%29 fiscal years on fileIdaho Strategic Resources, Inc. earns about 13% on invested capital, comfortably above its ~9% cost of capital, but has diluted owners by 44% over 5 years — a real edge showing up in the numbers. The estimate methods put fair value between $0.82 and $11.8 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Revenue | $7.63M1 | $9.58M2 | $13.7M3 | $25.8M3 | $42.4M4 |
| Net income | −$3.26M5 | −$2.63M6 | $1.16M7 | $8.84M8 | $16.7M8 |
| Operating cash flow | −$1.35M9 | −$1.82M10 | $2.1M11 | $10.8M12 | $19.1M12 |
| Capital expenditure | $664,64513 | $1.44M14 | $772,24515 | $2.22M16 | $6.71M16 |
| Free cash flow (derived) | −$2.02M9 | −$3.26M10 | $1.33M11 | $8.62M12 | $12.4M12 |
| Total debt | $2.59M17 | $2.17M18 | $2.32M19 | $1.73M20 | $2.33M21 |
| Cash & equivalents | $1.98M22 | $1.64M23 | $2.29M23 | $1.11M24 | $9.89M24 |
| Diluted shares | 10.2M | 11.8M | 12.3M | 13.2M | 14.7M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $73.58 of net worth that earned you $11.37 and generated $8.43 of cash last year, against $1.59 of debt.
It earned about 13% on invested capital against a ~9% cost of capital — comfortably above the cost of funding, a moderate advantage.
seeing a moat in the numbers →Share count is up 44% over 5 years — owners have been diluted. Worth asking what they got for it. Total debt has held roughly steady.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
The 3 estimate methods that apply put fair value between $0.82 and $11.8 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a stricter floor, not a target.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth5.0%
- fcfBase$8.62M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth5.0%
- fcfBase$8.62M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$1.16M
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $8.89 |
| Base | 5.0% | $10.92 |
| Bull | 10.0% | $13.35 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
Default growth 5.0%= 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.
- 10-K · period ending 2021-12-31 · accession 0001654954-23-003968 (RevenueFromContractWithCustomerIncludingAssessedTax)
- 10-K · period ending 2022-12-31 · accession 0001654954-24-003564 (RevenueFromContractWithCustomerIncludingAssessedTax)
- 10-K · period ending 2023-12-31 · accession 0001654954-25-003575 (RevenueFromContractWithCustomerIncludingAssessedTax)
- 10-K · period ending 2025-12-31 · accession 0001654954-26-002560 (Revenues)
- 10-K · period ending 2021-12-31 · accession 0001654954-23-003968 (NetIncomeLoss)
- 10-K · period ending 2022-12-31 · accession 0001654954-24-003564 (NetIncomeLoss)
- 10-K · period ending 2023-12-31 · accession 0001654954-25-003575 (NetIncomeLoss)
- 10-K · period ending 2024-12-31 · accession 0001654954-26-002560 (NetIncomeLoss)
- 10-K · period ending 2021-12-31 · accession 0001654954-23-003968 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-12-31 · accession 0001654954-24-003564 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-12-31 · accession 0001654954-25-003575 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2024-12-31 · accession 0001654954-26-002560 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2021-12-31 · accession 0001654954-23-003968 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2022-12-31 · accession 0001654954-24-003564 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2023-12-31 · accession 0001654954-25-003575 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2024-12-31 · accession 0001654954-26-002560 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K/A · period ending 2021-12-31 · accession 0001654954-22-016284 (LongTermDebtNoncurrent)
- 10-K · period ending 2022-12-31 · accession 0001654954-23-003968 (LongTermDebt)
- 10-K · period ending 2023-12-31 · accession 0001654954-24-003564 (LongTermDebt)
- 10-K · period ending 2024-12-31 · accession 0001654954-25-003575 (LongTermDebt)
- 10-K · period ending 2025-12-31 · accession 0001654954-26-002560 (LongTermDebt)
- 10-K · period ending 2021-12-31 · accession 0001654954-23-003968 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2022-12-31 · accession 0001654954-24-003564 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2024-12-31 · accession 0001654954-26-002560 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)