Mama's Creations, Inc.

MAMAdata completeness 100%18 fiscal years on file

Data notes: no data for concept 'interestExpense'

The thesis, from the filings

Mama's Creations, Inc. earns about 27% on invested capital, far above its ~9% cost of capital, but has diluted owners by 16% over 5 years — a real edge showing up in the numbers. The estimate methods put fair value between $0.93 and $14.42 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 2022FY 2023FY 2024FY 2025FY 2026
Revenue$47.1M1$93.2M2$103.3M3$123.3M3$171.7M3
Net income−$251,9264$2.3M5$6.56M6$3.71M6$5.29M6
Operating cash flow$909,8417$5.51M8$11.6M9$5.18M9$11.4M9
Capital expenditure$10.4M10$593,00011$786,00012$5.1M12$1.65M12
Free cash flow (derived)−$9.5M7$4.92M8$10.8M9$82,0009$9.77M9
Total debt$5.59M13
Cash & equivalents$850,59814$4.38M15$11M16$7.15M17$20M17
Diluted shares35.7M37.3M38.4M39.4M41.4M

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
$12.72
your share of equity
Profit it earned you last year
$1.28
Free cash flow it threw off
$2.36
Debt you’d be carrying
$1.35

10 shares is a claim on $12.72 of net worth that earned you $1.28 and generated $2.36 of cash last year, against $1.35 of debt.

iii. Is this a good business?
Moat signal · return on invested capital
27% avg · 5y
FY22 0%FY23 27%FY24 74%FY25 21%FY26 14%

It earned about 27% on invested capital, year after year, against a ~9% cost of capital — the footprint of real pricing power. Competition usually drags returns like this back down; here it hasn't.

seeing a moat in the numbers →
Management signal · capital allocation
+16% shares · 5y

Share count is up 16% over 5 years — owners have been diluted. Worth asking what they got for it. Total debt has held roughly steady.

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

The 3 estimate methods that apply put fair value between $0.93 and $14.42 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a stricter floor, not a target.

DCF · Growth Exit 10Y
$14.42
assumptions (10)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth20.0%
  • fcfBase$9.77M
DCF · Growth Exit 5Y
$8.04
assumptions (10)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth20.0%
  • fcfBase$9.77M
Earnings Power Value
$0.93
assumptions (8)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$3.71M
  • growthAssumed0.0%
Graham Number
$1.93
assumptions (1)
  • grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

v. The price question — last, on purpose
Is today’s price fair?
See live price ↗
Type a price. The ledger answers.
Or set your own belief
FCF growth, next 5 years20.0%
Discount rate (WACC)8.93%
Terminal growth2.5%
At your growth, a share is worth $8.04
The three cases
Bear0.0%$3.72
Base20.0%$8.04
Bull20.0%$8.04

Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.

Default growth 20.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.

Sources — the receipts
  1. 10-K · period ending 2022-01-31 · accession 0001493152-23-013663 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2023-01-31 · accession 0001628280-25-017063 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2024-01-31 · accession 0001628280-26-025068 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2022-01-31 · accession 0001493152-23-013663 (NetIncomeLoss)
  5. 10-K · period ending 2023-01-31 · accession 0001628280-25-017063 (NetIncomeLoss)
  6. 10-K · period ending 2024-01-31 · accession 0001628280-26-025068 (NetIncomeLoss)
  7. 10-K · period ending 2022-01-31 · accession 0001493152-23-013663 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2023-01-31 · accession 0001628280-25-017063 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2024-01-31 · accession 0001628280-26-025068 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-01-31 · accession 0001493152-23-013663 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2023-01-31 · accession 0001628280-25-017063 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 10-K · period ending 2024-01-31 · accession 0001628280-26-025068 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K · period ending 2026-01-31 · accession 0001628280-26-025068 (LongTermDebt)
  14. 10-K · period ending 2022-01-31 · accession 0001493152-23-013663 (CashAndCashEquivalentsAtCarryingValue)
  15. 10-K · period ending 2023-01-31 · accession 0001628280-24-017645 (CashAndCashEquivalentsAtCarryingValue)
  16. 10-K · period ending 2024-01-31 · accession 0001628280-25-017063 (CashAndCashEquivalentsAtCarryingValue)
  17. 10-K · period ending 2025-01-31 · accession 0001628280-26-025068 (CashAndCashEquivalentsAtCarryingValue)