Japan Food Tech Holdings, Inc.

JFTHdata completeness 63%3 fiscal years on file

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

The thesis, from the filings

Japan Food Tech Holdings, Inc. earns about -64% on equity, but has diluted owners by 20% over 3 years — worth asking whether the growth reaches owners. 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 2022	FY 2023	FY 2024
Revenue	—	$1,000¹	$15,902¹
Net income	−$1.05M²	−$321,820³	−$761,837³
Operating cash flow	−$48,858⁴	−$293,628⁵	−$256,940⁵
Capital expenditure	—	—	—
Free cash flow (derived)	—	—	—
Total debt	—	—	—
Cash & equivalents	—	$1,365⁶	$8,741⁶
Diluted shares	10.7M	12.9M	—

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

-64% avg · 3y

FY22 —FY23 -64%FY24 —

It earned an average -64% 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

+20% shares · 3y

Share count is up 20% over 3 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

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 2023-03-31 · accession 0001599916-24-000203 (Revenues)
10-K · period ending 2022-03-31 · accession 0001599916-23-000177 (NetIncomeLoss)
10-K · period ending 2023-03-31 · accession 0001599916-24-000203 (NetIncomeLoss)
10-K · period ending 2022-03-31 · accession 0001599916-23-000177 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2023-03-31 · accession 0001599916-24-000203 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2023-03-31 · accession 0001599916-24-000203 (CashAndCashEquivalentsAtCarryingValue)