MeritValue

LFTD PARTNERS INC.

LIFDdata completeness 88%16 fiscal years on file

Data notes: no data for concept 'totalDebt'

The thesis, from the filings

LFTD PARTNERS INC. earns about -24% on invested capital, but has diluted owners by 11% over 5 years — worth asking whether the growth reaches owners. The applicable estimate puts fair value near $1.51 a share.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 2021FY 2022FY 2023FY 2024FY 2025
Revenue$31.7M1$57.4M2$51.6M3$37.3M3$36.9M3
Net income$5.8M4$7.2M5$2.16M6−$1.86M6−$24.9M6
Operating cash flow$5.62M7$3.04M8$638,9259−$960,0679$1.32M9
Capital expenditure$368,22310$916,11911$789,66212$313,76312$121,63912
Free cash flow (derived)$5.25M7$2.12M8−$150,7379−$1.27M9$1.2M9
Total debt—————
Cash & equivalents$1.6M13$3.53M14$4.36M15$2.15M16$1.77M16
Diluted shares13.4M15.9M16.4M14.8M14.8M

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
$8.52
your share of equity
Profit it earned you last year
−$16.77
Free cash flow it threw off
$0.81
Debt you’d be carrying
—

10 shares is a claim on $8.52 of net worth that earned you −$16.77 and generated $0.81 of cash last year.

iii. Is this a good business?
Moat signal · return on invested capital
-24% avg · 5y
FY21 23%FY22 33%FY23 7%FY24 -5%FY25 -178%

It earned an average -24% 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
+11% shares · 5y

Share count is up 11% 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
$1.51
assumptions (8)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$2.16M
  • growthAssumed0.0%
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 0001096906-24-000671 (Revenues)
  2. 10-K · period ending 2022-12-31 · accession 0001096906-25-000346 (Revenues)
  3. 10-K · period ending 2023-12-31 · accession 0001096906-26-000454 (Revenues)
  4. 10-K · period ending 2021-12-31 · accession 0001096906-24-000671 (NetIncomeLoss)
  5. 10-K · period ending 2022-12-31 · accession 0001096906-25-000346 (NetIncomeLoss)
  6. 10-K · period ending 2023-12-31 · accession 0001096906-26-000454 (NetIncomeLoss)
  7. 10-K · period ending 2021-12-31 · accession 0001096906-24-000671 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2022-12-31 · accession 0001096906-25-000346 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2023-12-31 · accession 0001096906-26-000454 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2021-12-31 · accession 0001096906-24-000671 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2022-12-31 · accession 0001096906-25-000346 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 10-K · period ending 2023-12-31 · accession 0001096906-26-000454 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K · period ending 2021-12-31 · accession 0001096906-23-000607 (CashAndCashEquivalentsAtCarryingValue)
  14. 10-K · period ending 2022-12-31 · accession 0001096906-24-000671 (CashAndCashEquivalentsAtCarryingValue)
  15. 10-K · period ending 2023-12-31 · accession 0001096906-25-000346 (CashAndCashEquivalentsAtCarryingValue)
  16. 10-K · period ending 2024-12-31 · accession 0001096906-26-000454 (CashAndCashEquivalentsAtCarryingValue)