MeritValue

International Stem Cell CORP

ISCOdata completeness 88%20 fiscal years on file

Data notes: no data for concept 'totalDebt'

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$7.18M1$8.18M2$7.79M3$9.09M4$9.1M4
Net income−$899,0005−$331,0006−$131,0007−$209,0008−$418,0008
Operating cash flow−$1.3M9$332,00010$929,00011$13,00012$8,00012
Capital expenditure$23,00013$1,00014$80,00015$166,00016$43,00016
Free cash flow (derived)−$1.32M9$331,00010$849,00011−$153,00012−$35,00012
Total debt—————
Cash & equivalents$171,00017$742,00018$1.59M19$1.23M19$993,00019
Diluted shares7.8M8.0M8.0M8.0M8.0M

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
−$5.07
your share of equity
Profit it earned you last year
−$0.52
Free cash flow it threw off
−$0.04
Debt you’d be carrying
—

10 shares is a claim on −$5.07 of net worth that earned you −$0.52 and generated −$0.04 of cash last year.

iii. Is this a good business?
Moat signal · return on equity
— avg · 5y

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

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
  1. 10-K · period ending 2021-12-31 · accession 0000950170-23-010977 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2022-12-31 · accession 0000950170-24-038092 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2023-12-31 · accession 0000950170-25-046745 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2024-12-31 · accession 0001193125-26-131723 (RevenueFromContractWithCustomerExcludingAssessedTax)
  5. 10-K · period ending 2021-12-31 · accession 0000950170-23-010977 (NetIncomeLoss)
  6. 10-K · period ending 2022-12-31 · accession 0000950170-24-038092 (NetIncomeLoss)
  7. 10-K · period ending 2023-12-31 · accession 0000950170-25-046745 (NetIncomeLoss)
  8. 10-K · period ending 2024-12-31 · accession 0001193125-26-131723 (NetIncomeLoss)
  9. 10-K · period ending 2021-12-31 · accession 0000950170-23-010977 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-12-31 · accession 0000950170-24-038092 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-12-31 · accession 0000950170-25-046745 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-12-31 · accession 0001193125-26-131723 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2021-12-31 · accession 0000950170-23-010977 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K · period ending 2022-12-31 · accession 0000950170-24-038092 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K · period ending 2023-12-31 · accession 0000950170-25-046745 (PaymentsToAcquirePropertyPlantAndEquipment)
  16. 10-K · period ending 2024-12-31 · accession 0001193125-26-131723 (PaymentsToAcquirePropertyPlantAndEquipment)
  17. 10-K · period ending 2021-12-31 · accession 0000950170-24-038092 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  18. 10-K · period ending 2022-12-31 · accession 0000950170-25-046745 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  19. 10-K · period ending 2023-12-31 · accession 0001193125-26-131723 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)