MeritValue

Lightstone Value Plus REIT IV, Inc.

LTSVdata completeness 75%11 fiscal years on file

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

The thesis, from the filings

Lightstone Value Plus REIT IV, Inc. earns about -20% on equity, and has bought back 4% of its shares over 5 years. 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 2021FY 2022FY 2023FY 2024FY 2025
Revenue——$23.3M1$29.7M2$30.5M2
Net income−$1.28M3−$2.23M4−$11M5−$8.02M6−$3.72M6
Operating cash flow−$720,9257−$2.72M8−$4.76M9−$7.71M10−$850,00010
Capital expenditure—————
Free cash flow (derived)—————
Total debt—————
Cash & equivalents$12M11$8.29M12$6.73M13$8.12M14$9.03M14
Diluted shares8.5M8.4M8.3M8.3M8.2M

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
$21.32
your share of equity
Profit it earned you last year
−$4.55
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on $21.32 of net worth that earned you −$4.55 last year.

iii. Is this a good business?
Moat signal · return on equity
-20% avg · 5y
FY21 -3%FY22 -5%FY23 -36%FY24 -37%FY25 -21%

It earned an average -20% on equity over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
−4% shares · 5y

Share count is down 4% over 5 years — management has been buying back stock, quietly handing owners a bigger slice.

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
  1. 10-K · period ending 2023-12-31 · accession 0001185185-25-000226 (Revenues)
  2. 10-K · period ending 2024-12-31 · accession 0001185185-26-001144 (Revenues)
  3. 10-K · period ending 2021-12-31 · accession 0001829126-23-002389 (NetIncomeLoss)
  4. 10-K · period ending 2022-12-31 · accession 0001829126-24-001904 (NetIncomeLoss)
  5. 10-K · period ending 2023-12-31 · accession 0001185185-25-000226 (NetIncomeLoss)
  6. 10-K · period ending 2024-12-31 · accession 0001185185-26-001144 (NetIncomeLoss)
  7. 10-K · period ending 2021-12-31 · accession 0001829126-23-002389 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2022-12-31 · accession 0001829126-24-001904 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2023-12-31 · accession 0001185185-25-000226 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2024-12-31 · accession 0001185185-26-001144 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2021-12-31 · accession 0001829126-23-002389 (CashAndCashEquivalentsAtCarryingValue)
  12. 10-K · period ending 2022-12-31 · accession 0001829126-24-001904 (CashAndCashEquivalentsAtCarryingValue)
  13. 10-K · period ending 2023-12-31 · accession 0001185185-25-000226 (CashAndCashEquivalentsAtCarryingValue)
  14. 10-K · period ending 2024-12-31 · accession 0001185185-26-001144 (CashAndCashEquivalentsAtCarryingValue)