MeritValue

Monopar Therapeutics

MNPRdata completeness 75%10 fiscal years on file

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

The thesis, from the filings

Monopar Therapeutics earns about -68% on equity, and has bought back 41% 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———$01$02
Net income−$9.1M3−$10.5M4−$8.4M5−$15.6M6−$13.7M6
Operating cash flow−$7.32M7−$7.23M8−$7.86M9−$6.4M10−$12.2M10
Capital expenditure—————
Free cash flow (derived)—————
Total debt—————
Cash & equivalents$20.3M11$8.19M12$7.27M13$45.8M14$61.8M14
Diluted shares12.5M12.7M2.8M3.8M7.4M

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
$185.97
your share of equity
Profit it earned you last year
−$18.51
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on $185.97 of net worth that earned you −$18.51 last year.

iii. Is this a good business?
Moat signal · return on equity
-68% avg · 5y
FY21 -48%FY22 -104%FY23 -150%FY24 -28%FY25 -10%

It earned an average -68% 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
−41% shares · 5y

Share count is down 41% 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 2024-12-31 · accession 0001437749-25-009979 (Revenues)
  2. 10-K · period ending 2025-12-31 · accession 0001437749-26-010025 (Revenues)
  3. 10-K · period ending 2021-12-31 · accession 0001654954-23-003384 (NetIncomeLoss)
  4. 10-K · period ending 2022-12-31 · accession 0001437749-24-009687 (NetIncomeLoss)
  5. 10-K · period ending 2023-12-31 · accession 0001437749-25-009979 (NetIncomeLoss)
  6. 10-K · period ending 2024-12-31 · accession 0001437749-26-010025 (NetIncomeLoss)
  7. 10-K · period ending 2021-12-31 · accession 0001654954-23-003384 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2022-12-31 · accession 0001437749-24-009687 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2023-12-31 · accession 0001437749-25-009979 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2024-12-31 · accession 0001437749-26-010025 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2021-12-31 · accession 0001654954-23-003384 (CashAndCashEquivalentsAtCarryingValue)
  12. 10-K · period ending 2022-12-31 · accession 0001437749-24-009687 (CashAndCashEquivalentsAtCarryingValue)
  13. 10-K · period ending 2023-12-31 · accession 0001437749-25-009979 (CashAndCashEquivalentsAtCarryingValue)
  14. 10-K · period ending 2024-12-31 · accession 0001437749-26-010025 (CashAndCashEquivalentsAtCarryingValue)