MeritValue

Metavesco, Inc.

MVCOdata completeness 88%8 fiscal years on file

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

The thesis, from the filings

Metavesco, Inc. earns about -4637% on equity, but has diluted owners by 3094% over 5 years — worth asking whether the growth reaches owners. 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 2019FY 2020FY 2021FY 2022FY 2023
Revenue———$82,6171$127,0871
Net income$10.4M2−$128,4673−$116,6624−$1.12M5−$572,8455
Operating cash flow−$65,6316−$56,3687−$57,5818−$153,3089−$198,8639
Capital expenditure———$1.29M10$55,00010
Free cash flow (derived)———−$1.44M9−$253,8639
Total debt—————
Cash & equivalents——$4411$35,15112$17,08612
Diluted shares1.9M6.1M6.1M60.8M61.2M

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
$0
your share of equity
Profit it earned you last year
−$0.09
Free cash flow it threw off
−$0.04
Debt you’d be carrying
—

10 shares is a claim on $0 of net worth that earned you −$0.09 and generated −$0.04 of cash last year.

iii. Is this a good business?
Moat signal · return on equity
-4637% avg · 5y
FY19 —FY20 —FY21 —FY22 -324%FY23 -8949%

It earned an average -4637% 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
+3094% shares · 5y

Share count is up 3094% over 5 years — owners have been diluted. Worth asking what they got for it.

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 2 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 2 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 2022-06-30 · accession 0001493152-23-037175 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2019-06-30 · accession 0001493152-20-018331 (NetIncomeLoss)
  3. 10-K · period ending 2020-06-30 · accession 0001493152-21-021776 (NetIncomeLoss)
  4. 10-K · period ending 2021-06-30 · accession 0001493152-22-027935 (NetIncomeLoss)
  5. 10-K · period ending 2022-06-30 · accession 0001493152-23-037175 (NetIncomeLoss)
  6. 10-K · period ending 2019-06-30 · accession 0001493152-20-018331 (NetCashProvidedByUsedInOperatingActivities)
  7. 10-K · period ending 2020-06-30 · accession 0001493152-21-021776 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2021-06-30 · accession 0001493152-22-027935 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2022-06-30 · accession 0001493152-23-037175 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-06-30 · accession 0001493152-23-037175 (PaymentsToAcquireProductiveAssets)
  11. 10-K · period ending 2021-06-30 · accession 0001493152-22-027935 (CashAndCashEquivalentsAtCarryingValue)
  12. 10-K · period ending 2022-06-30 · accession 0001493152-23-037175 (CashAndCashEquivalentsAtCarryingValue)