MeritValue

KB Global Holdings Ltd

KBGHFdata completeness 75%5 fiscal years on file
i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue——$01$179,6132$02
Net income−$34,4843−$144,0134−$96,3725−$74,2216−$112,0496
Operating cash flow−$37,0237−$30,7668$77,0419−$121,65310−$135,82010
Capital expenditure—————
Free cash flow (derived)—————
Total debt—————
Cash & equivalents$4411$1,33412$28,88013$3,25314$71514
Diluted shares110.0M110.0M130.1M130.1M130.1M

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
−$0.03
your share of equity
Profit it earned you last year
−$0.01
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on −$0.03 of net worth that earned you −$0.01 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
+18% shares · 5y

Share count is up 18% 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 v0.5.0
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
  1. 10-K/A · period ending 2023-12-31 · accession 0001829126-25-003506 (Revenues)
  2. 10-K · period ending 2024-12-31 · accession 0001829126-26-006016 (Revenues)
  3. 10-K · period ending 2021-12-31 · accession 0001829126-23-003566 (NetIncomeLoss)
  4. 10-K · period ending 2022-12-31 · accession 0001829126-24-003512 (NetIncomeLoss)
  5. 10-K/A · period ending 2023-12-31 · accession 0001829126-25-003506 (NetIncomeLoss)
  6. 10-K · period ending 2024-12-31 · accession 0001829126-26-006016 (NetIncomeLoss)
  7. 10-K · period ending 2021-12-31 · accession 0001829126-23-003566 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2022-12-31 · accession 0001829126-24-003512 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K/A · period ending 2023-12-31 · accession 0001829126-25-003506 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2024-12-31 · accession 0001829126-26-006016 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2021-12-31 · accession 0001829126-23-003566 (CashAndCashEquivalentsAtCarryingValue)
  12. 10-K · period ending 2022-12-31 · accession 0001829126-24-003512 (CashAndCashEquivalentsAtCarryingValue)
  13. 10-K/A · period ending 2023-12-31 · accession 0001829126-25-003506 (CashAndCashEquivalentsAtCarryingValue)
  14. 10-K · period ending 2024-12-31 · accession 0001829126-26-006016 (CashAndCashEquivalentsAtCarryingValue)