EQUATOR Beverage Co

MOJOdata completeness 75%16 fiscal years on file

Data notes: no data for concept 'totalDebt'

The thesis, from the filings

EQUATOR Beverage Co earns about -76% on invested capital, 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

Figure	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Revenue	$1.92M¹	$1.82M¹	$2.29M²	$3.25M³	$4.19M³
Net income	$39,892⁴	−$238,836⁵	−$179,957⁶	−$801,144⁷	$49,213⁷
Operating cash flow	$103,463⁸	−$93,004⁹	−$123,415¹⁰	$50,460¹¹	$211,658¹¹
Capital expenditure	—	—	—	—	—
Free cash flow (derived)	—	—	—	—	—
Total debt	—	—	—	—	—
Cash & equivalents	$46,481¹²	$10,738¹²	$87,339¹³	$22,799¹³	$219,457¹³
Diluted shares	15.5M	15.8M	16.7M	9.1M	9.1M

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

Net assets behind them

$0.61

your share of equity

Profit it earned you last year

$0.05

Free cash flow it threw off

—

Debt you’d be carrying

—

10 shares is a claim on $0.61 of net worth that earned you $0.05 last year.

iii. Is this a good business?

Moat signal · return on invested capital

-76% avg · 5y

FY21 10%FY22 -133%FY23 -70%FY24 -197%FY25 12%

It earned an average -76% 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

−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

$0.12

assumptions (1)

grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

Sources — the receipts

10-K · period ending 2021-12-31 · accession 0001493152-23-010382 (RevenueFromContractWithCustomerExcludingAssessedTax)
10-K · period ending 2023-12-31 · accession 0001477932-25-001952 (Revenues)
10-K · period ending 2024-12-31 · accession 0001477932-26-001536 (Revenues)
10-K · period ending 2021-12-31 · accession 0001493152-23-010382 (NetIncomeLoss)
10-K · period ending 2022-12-31 · accession 0001477932-24-001422 (NetIncomeLoss)
10-K · period ending 2023-12-31 · accession 0001477932-25-001952 (NetIncomeLoss)
10-K · period ending 2024-12-31 · accession 0001477932-26-001536 (NetIncomeLoss)
10-K · period ending 2021-12-31 · accession 0001493152-23-010382 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2022-12-31 · accession 0001477932-24-001422 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2023-12-31 · accession 0001477932-25-001952 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2024-12-31 · accession 0001477932-26-001536 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2021-12-31 · accession 0001493152-23-010382 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2023-12-31 · accession 0001477932-26-001536 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)