MeritValue

NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP

NENdata completeness 63%17 fiscal years on file

Data notes: no data for concept 'capex'; no data for concept 'stockholdersEquity'; no data for concept 'epsDiluted'; no data for concept 'pretaxIncome'

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$462,8621$733,0642$588,9753$769,5863$795,8543
Net income−$2.7M4$3.72M5$8.45M6$15.7M6$6.03M6
Operating cash flow$15.8M7$21.5M8$24.2M9$31.9M9$27.7M9
Capital expenditure—————
Free cash flow (derived)—————
Total debt—$414.1M10$411.4M11$408.6M12$531M13
Cash & equivalents$96.1M14$49.6M15$18.2M16$17.6M17$26.7M17
Diluted shares—————

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

iii. Is this a good business?
Moat signal · return on equity
— avg · 5y

Not enough data in the filings for a return-on-capital reading.

seeing a moat in the numbers →
Management signal · capital allocation
— shares · 5y

Total debt has risen 28% 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.

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
no diluted share count
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 2021-12-31 · accession 0001558370-24-003239 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2022-12-31 · accession 0001558370-25-003015 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2023-12-31 · accession 0001104659-26-027586 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2021-12-31 · accession 0001558370-24-003239 (NetIncomeLoss)
  5. 10-K · period ending 2022-12-31 · accession 0001558370-25-003015 (NetIncomeLoss)
  6. 10-K · period ending 2023-12-31 · accession 0001104659-26-027586 (NetIncomeLoss)
  7. 10-K · period ending 2021-12-31 · accession 0001558370-24-003239 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2022-12-31 · accession 0001558370-25-003015 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2023-12-31 · accession 0001104659-26-027586 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-12-31 · accession 0001558370-23-003589 (LongTermDebt)
  11. 10-K · period ending 2023-12-31 · accession 0001558370-24-003239 (LongTermDebt)
  12. 10-K · period ending 2024-12-31 · accession 0001558370-25-003015 (LongTermDebt)
  13. 10-K · period ending 2025-12-31 · accession 0001104659-26-027586 (LongTermDebt)
  14. 10-K · period ending 2021-12-31 · accession 0001558370-23-003589 (CashAndCashEquivalentsAtCarryingValue)
  15. 10-K · period ending 2022-12-31 · accession 0001558370-24-003239 (CashAndCashEquivalentsAtCarryingValue)
  16. 10-K · period ending 2023-12-31 · accession 0001558370-25-003015 (CashAndCashEquivalentsAtCarryingValue)
  17. 10-K · period ending 2024-12-31 · accession 0001104659-26-027586 (CashAndCashEquivalentsAtCarryingValue)