Charming Medical Ltd
MCTAdata completeness 100%3 fiscal years on fileCharming Medical Ltd earns about 1217% on equity, far above its ~9% cost of capital, but has diluted owners by 5% over 3 years — a real edge showing up in the numbers. The estimate methods put fair value between $0.36 and $0.5 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|
| Revenue | $3.67M1 | $3.63M1 | $2.62M1 |
| Net income | $777,8112 | $1.2M2 | −$22,6482 |
| Operating cash flow | $295,4293 | $425,8883 | −$1.22M3 |
| Capital expenditure | $210,5984 | $287,5274 | $339,5604 |
| Free cash flow (derived) | $84,8313 | $138,3613 | −$1.56M3 |
| Total debt | — | $314,2265 | $371,5986 |
| Cash & equivalents | $2.1M7 | $816,7718 | $4.7M8 |
| Diluted shares | 15.3M | 15.3M | 16.2M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $3.21 of net worth that earned you −$0.01 and generated −$0.96 of cash last year, against $0.23 of debt.
It earned about 1217% on equity, 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 →Share count is up 5% over 3 years — owners have been diluted. Worth asking what they got for it. Total debt has risen 18% over the same window.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
The 3 estimate methods that apply put fair value between $0.36 and $0.5 a share. They rest on different assumptions, so where they diverge is the story.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth5.0%
- fcfBase$84,831
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth5.0%
- fcfBase$84,831
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$777,811
- growthAssumed0.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $0.34 |
| Base | 5.0% | $0.36 |
| Bull | 10.0% | $0.38 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
Default growth 5.0%= 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.
- 20-F · period ending 2024-03-31 · accession 0001213900-26-083325 (RevenueFromContractWithCustomerIncludingAssessedTax)
- 20-F · period ending 2024-03-31 · accession 0001213900-26-083325 (NetIncomeLoss)
- 20-F · period ending 2024-03-31 · accession 0001213900-26-083325 (NetCashProvidedByUsedInOperatingActivities)
- 20-F · period ending 2024-03-31 · accession 0001213900-26-083325 (PaymentsToAcquirePropertyPlantAndEquipment)
- 20-F · period ending 2025-03-31 · accession 0001213900-26-083325 (ShortTermBorrowings)
- 20-F · period ending 2026-03-31 · accession 0001213900-26-083325 (LongTermDebt)
- 20-F · period ending 2024-03-31 · accession 0001213900-26-083325 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
- 20-F · period ending 2025-03-31 · accession 0001213900-26-083325 (CashAndCashEquivalentsAtCarryingValue)