MeritValue

RADNOSTIX INC

INISdata completeness 100%16 fiscal years on file

Data notes: no data for concept 'pretaxIncome'

The thesis, from the filings

RADNOSTIX INC earns about -14% on equity, below its ~9% cost of capital, but has diluted owners by 10% over 5 years — no moat visible in the numbers. The applicable estimate puts fair value near $0 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 2021FY 2022FY 2023FY 2024FY 2025
Revenue$9.66M1$11.2M2$12.3M3$13.9M4$13.1M4
Net income−$902,3475$303,2386−$869,0167$8,5748−$908,0028
Operating cash flow−$161,9149−$1.5M10$582,58911$638,78312$620,16312
Capital expenditure$205,47413$120,01414$149,05815$721,21516$534,15516
Free cash flow (derived)−$367,3889−$1.62M10$433,53111−$82,43212$86,00812
Total debt$2.25M17$1.7M17$2.05M18$2.52M19$2.09M19
Cash & equivalents$474,85120$2.38M21$2.69M22$1.95M23$1.7M23
Diluted shares477.7M510.8M517.8M522.3M526.8M

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
$0.07
your share of equity
Profit it earned you last year
−$0.02
Free cash flow it threw off
$0
Debt you’d be carrying
$0.04

10 shares is a claim on $0.07 of net worth that earned you −$0.02 and generated $0 of cash last year, against $0.04 of debt.

iii. Is this a good business?
Moat signal · return on equity
-14% avg · 5y
FY21 -33%FY22 7%FY23 -22%FY24 0%FY25 -25%

It earned about -14% on equity against a ~9% cost of capital — below the cost of funding. The numbers show no moat.

seeing a moat in the numbers →
Management signal · capital allocation
+10% shares · 5y

Share count is up 10% 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.

iv. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
$0
assumptions (10)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth5.0%
  • fcfBase$86,008
DCF · Growth Exit 5Y
$0
assumptions (10)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth5.0%
  • fcfBase$86,008
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 →

v. The price question — last, on purpose
Is today’s price fair?
See live price ↗
Type a price. The ledger answers.
Or set your own belief
FCF growth, next 5 years5.0%
Discount rate (WACC)8.93%
Terminal growth2.5%
At your growth, a share is worth $0
The three cases
Bear0.0%$0
Base5.0%$0
Bull10.0%$0

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.

Sources — the receipts
  1. 10-K · period ending 2021-12-31 · accession 0001515971-23-000035 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2022-12-31 · accession 0001437749-24-010010 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2023-12-31 · accession 0001437749-25-006015 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2024-12-31 · accession 0001437749-26-010700 (RevenueFromContractWithCustomerExcludingAssessedTax)
  5. 10-K · period ending 2021-12-31 · accession 0001515971-23-000035 (NetIncomeLoss)
  6. 10-K · period ending 2022-12-31 · accession 0001437749-24-010010 (NetIncomeLoss)
  7. 10-K · period ending 2023-12-31 · accession 0001437749-25-006015 (NetIncomeLoss)
  8. 10-K · period ending 2024-12-31 · accession 0001437749-26-010700 (NetIncomeLoss)
  9. 10-K · period ending 2021-12-31 · accession 0001515971-23-000035 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-12-31 · accession 0001437749-24-010010 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-12-31 · accession 0001437749-25-006015 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-12-31 · accession 0001437749-26-010700 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2021-12-31 · accession 0001515971-23-000035 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K · period ending 2022-12-31 · accession 0001437749-24-010010 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K · period ending 2023-12-31 · accession 0001437749-25-006015 (PaymentsToAcquirePropertyPlantAndEquipment)
  16. 10-K · period ending 2024-12-31 · accession 0001437749-26-010700 (PaymentsToAcquirePropertyPlantAndEquipment)
  17. 10-K · period ending 2021-12-31 · accession 0001515971-23-000035 (LongTermDebtCurrent)
  18. 10-K · period ending 2023-12-31 · accession 0001437749-24-010010 (LongTermDebt)
  19. 10-K · period ending 2024-12-31 · accession 0001437749-26-010700 (LongTermDebtCurrent)
  20. 10-K · period ending 2021-12-31 · accession 0001515971-23-000035 (CashAndCashEquivalentsAtCarryingValue)
  21. 10-K · period ending 2022-12-31 · accession 0001437749-24-010010 (CashAndCashEquivalentsAtCarryingValue)
  22. 10-K · period ending 2023-12-31 · accession 0001437749-25-006015 (CashAndCashEquivalentsAtCarryingValue)
  23. 10-K · period ending 2024-12-31 · accession 0001437749-26-010700 (CashAndCashEquivalentsAtCarryingValue)