Wright Investors Service Holdings, Inc.

IWSHdata completeness 63%16 fiscal years on file

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

The thesis, from the filings

Wright Investors Service Holdings, Inc. earns about -557% on invested capital, with a roughly flat share count. 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

Figure	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Revenue	—	—	—	—	—
Net income	−$1.12M¹	−$1.21M²	−$1.01M³	−$920,000⁴	−$1.02M⁴
Operating cash flow	−$1.07M⁵	−$1.16M⁶	−$965,000⁷	−$938,000⁸	−$1.05M⁸
Capital expenditure	—	—	—	—	—
Free cash flow (derived)	—	—	—	—	—
Total debt	—	—	—	—	—
Cash & equivalents	$5.4M⁹	$90,000¹⁰	$125,000¹¹	$1.44M¹²	$33,000¹²
Diluted shares	20.3M	20.5M	20.6M	20.6M	20.6M

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

Net assets behind them

$0.63

your share of equity

Profit it earned you last year

−$0.5

Free cash flow it threw off

—

Debt you’d be carrying

—

10 shares is a claim on $0.63 of net worth that earned you −$0.5 last year.

iii. Is this a good business?

Moat signal · return on invested capital

-557% avg · 5y

FY21 -2593%FY22 -23%FY23 -25%FY24 -82%FY25 -63%

It earned an average -557% on invested capital over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →

Management signal · capital allocation

+2% shares · 5y

Share count is roughly flat over 5 years — little dilution, little buyback.

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

only 0 years of FCF (need ≥3) — model not applicable

DCF · Growth Exit 5Y

not applicable

only 0 years of FCF (need ≥3) — model not applicable

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

10-K · period ending 2021-12-31 · accession 0001214659-23-004306 (NetIncomeLoss)
10-K · period ending 2022-12-31 · accession 0001214659-24-005261 (NetIncomeLoss)
10-K · period ending 2023-12-31 · accession 0001214659-25-004885 (NetIncomeLoss)
10-K · period ending 2024-12-31 · accession 0001214659-26-003984 (NetIncomeLoss)
10-K · period ending 2021-12-31 · accession 0001214659-23-004306 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2022-12-31 · accession 0001214659-24-005261 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2023-12-31 · accession 0001214659-25-004885 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2024-12-31 · accession 0001214659-26-003984 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2021-12-31 · accession 0001214659-23-004306 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2022-12-31 · accession 0001214659-24-005261 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2023-12-31 · accession 0001214659-25-004885 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2024-12-31 · accession 0001214659-26-003984 (CashAndCashEquivalentsAtCarryingValue)