MeritValue

INSPIRE VETERINARY PARTNERS, INC.

IVPRdata completeness 88%3 fiscal years on file

Data notes: no data for concept 'epsDiluted'; no data for concept 'interestExpense'

The thesis, from the filings

INSPIRE VETERINARY PARTNERS, INC. earns about -913% on equity. 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
FigureFY 2022FY 2023FY 2024
Revenue$9.83M1$16.7M2$16.6M2
Net income−$4.91M3−$14.8M4−$14.3M4
Operating cash flow−$2.66M5−$3.82M6−$10M6
Capital expenditure$134,9717$383,7308$237,9838
Free cash flow (derived)−$2.79M5−$4.2M6−$10.2M6
Total debt——$12M9
Cash & equivalents$444,25310$178,96111$523,69011
Diluted shares———

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

iii. Is this a good business?
Moat signal · return on equity
-913% avg · 3y
FY22 —FY23 —FY24 -913%

It earned an average -913% on equity over 3 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
— shares · 3y

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
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 2022-12-31 · accession 0001213900-24-031220 (Revenues)
  2. 10-K · period ending 2023-12-31 · accession 0001213900-25-026232 (RevenueFromContractWithCustomerIncludingAssessedTax)
  3. 10-K · period ending 2022-12-31 · accession 0001213900-24-031220 (NetIncomeLoss)
  4. 10-K · period ending 2023-12-31 · accession 0001213900-25-026232 (NetIncomeLoss)
  5. 10-K · period ending 2022-12-31 · accession 0001213900-24-031220 (NetCashProvidedByUsedInOperatingActivities)
  6. 10-K · period ending 2023-12-31 · accession 0001213900-25-026232 (NetCashProvidedByUsedInOperatingActivities)
  7. 10-K · period ending 2022-12-31 · accession 0001213900-24-031220 (PaymentsToAcquirePropertyPlantAndEquipment)
  8. 10-K · period ending 2023-12-31 · accession 0001213900-25-026232 (PaymentsToAcquirePropertyPlantAndEquipment)
  9. 10-K · period ending 2024-12-31 · accession 0001213900-25-026232 (LongTermDebt)
  10. 10-K · period ending 2022-12-31 · accession 0001213900-24-031220 (CashAndCashEquivalentsAtCarryingValue)
  11. 10-K · period ending 2023-12-31 · accession 0001213900-25-026232 (CashAndCashEquivalentsAtCarryingValue)