Intercont (Cayman) Ltd
NCTdata completeness 100%3 fiscal years on fileData notes: no data for concept 'interestExpense'; no data for concept 'incomeTaxExpense'
Intercont (Cayman) Ltd earns about 28% on invested capital, far above its ~9% cost of capital, but has diluted owners by 4% over 3 years — a real edge showing up in the numbers. The estimate methods put fair value between $1.28 and $4.4 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Revenue | $32.4M1 | $25.5M1 | $25.1M1 |
| Net income | $10.9M2 | $3.14M2 | $3.1M2 |
| Operating cash flow | $13.6M3 | $6.48M3 | $7.4M3 |
| Capital expenditure | $12M4 | $656,9624 | $1.05M4 |
| Free cash flow (derived) | $1.57M3 | $5.82M3 | $6.35M3 |
| Total debt | — | $9.01M5 | $5.82M5 |
| Cash & equivalents | $3.42M6 | $3.75M6 | $5.65M6 |
| Diluted shares | 24.5M | 24.6M | 25.4M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $9.77 of net worth that earned you $1.22 and generated $2.5 of cash last year, against $2.29 of debt.
It earned about 28% 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 →Share count is up 4% over 3 years — owners have been diluted. Worth asking what they got for it. Total debt has fallen 35% — deleveraging.
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 $1.28 and $4.4 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a stricter floor, not a target.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth5.0%
- fcfBase$5.82M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth5.0%
- fcfBase$5.82M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$3.14M
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $3.27 |
| Base | 5.0% | $4.06 |
| Bull | 10.0% | $5.01 |
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 2023-06-30 · accession 0001213900-25-104020 (Revenues)
- 20-F · period ending 2023-06-30 · accession 0001213900-25-104020 (NetIncomeLoss)
- 20-F · period ending 2023-06-30 · accession 0001213900-25-104020 (NetCashProvidedByUsedInOperatingActivities)
- 20-F · period ending 2023-06-30 · accession 0001213900-25-104020 (PaymentsToAcquirePropertyPlantAndEquipment)
- 20-F · period ending 2024-06-30 · accession 0001213900-25-104020 (LongTermDebtNoncurrent)
- 20-F · period ending 2023-06-30 · accession 0001213900-25-104020 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)