MeritValue

LSEB Creative Corp.

LSEBdata completeness 75%6 fiscal years on file

Data notes: no data for concept 'totalDebt'; no data for concept 'investmentsAtFairValue'; no data for concept 'netInvestmentIncome'; no data for concept 'gainsOnRealEstateSales'; no data for concept 'realEstateImpairment'; no data for concept 'dividendsPaid'; no data for concept 'interestExpense'

The thesis, from the filings

LSEB Creative Corp. earns about -227% on invested capital, but has diluted owners by 36% over 5 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
FigureFY 2022FY 2023FY 2024FY 2025FY 2026
Revenue——$3,9891$20,5372$17,9062
Net income−$142,4233−$144,3714−$163,5535−$160,0116−$59,9856
Operating cash flow−$38,6967−$274,0978−$133,5479−$152,71610−$42,90910
Capital expenditure—————
Free cash flow (derived)—————
Total debt—————
Cash & equivalents$57,49711$2,71012$4,44813$85814$10114
Diluted shares12.0M13.6M15.0M15.7M16.4M

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
−$0.01
your share of equity
Profit it earned you last year
−$0.04
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on −$0.01 of net worth that earned you −$0.04 last year.

iii. Is this a good business?
Moat signal · return on invested capital
-227% avg · 5y
FY22 —FY23 -143%FY24 -212%FY25 -327%FY26 —

It earned an average -227% 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
+36% shares · 5y

Share count is up 36% 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 1 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 1 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 · period ending 2024-03-31 · accession 0001199835-25-000233 (Revenues)
  2. 10-K · period ending 2025-03-31 · accession 0001683168-26-005925 (Revenues)
  3. 10-K · period ending 2022-03-31 · accession 0001199835-23-000361 (NetIncomeLoss)
  4. 10-K · period ending 2023-03-31 · accession 0001199835-24-000251 (NetIncomeLoss)
  5. 10-K · period ending 2024-03-31 · accession 0001199835-25-000233 (NetIncomeLoss)
  6. 10-K · period ending 2025-03-31 · accession 0001683168-26-005925 (NetIncomeLoss)
  7. 10-K · period ending 2022-03-31 · accession 0001199835-23-000361 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2023-03-31 · accession 0001199835-24-000251 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2024-03-31 · accession 0001199835-25-000233 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2025-03-31 · accession 0001683168-26-005925 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2022-03-31 · accession 0001199835-23-000361 (CashAndCashEquivalentsAtCarryingValue)
  12. 10-K · period ending 2023-03-31 · accession 0001199835-24-000251 (CashAndCashEquivalentsAtCarryingValue)
  13. 10-K · period ending 2024-03-31 · accession 0001199835-25-000233 (CashAndCashEquivalentsAtCarryingValue)
  14. 10-K · period ending 2025-03-31 · accession 0001683168-26-005925 (CashAndCashEquivalentsAtCarryingValue)