MeritValue

Neuphoria Therapeutics Inc.

NEUPdata completeness 75%3 fiscal years on file

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

The thesis, from the filings

Neuphoria Therapeutics Inc. earns about -146% on invested capital, and has bought back 100% of its shares over 3 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 2023FY 2024FY 2025
Revenue——$15.6M1
Net income−$21.4M2−$15.5M3−$369,6323
Operating cash flow−$14.6M4−$14.7M5$77,2295
Capital expenditure———
Free cash flow (derived)———
Total debt———
Cash & equivalents$12.1M6$12.6M7$14.2M7
Diluted shares1.47B832,2251.6M

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
$117.09
your share of equity
Profit it earned you last year
−$2.28
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on $117.09 of net worth that earned you −$2.28 last year.

iii. Is this a good business?
Moat signal · return on invested capital
-146% avg · 3y
FY23 -172%FY24 -252%FY25 -14%

It earned an average -146% on invested capital over 3 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
−100% shares · 3y

Share count is down 100% over 3 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 2025-06-30 · accession 0001193125-25-223338 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2023-06-30 · accession 0001213900-24-082909 (NetIncomeLoss)
  3. 10-K · period ending 2024-06-30 · accession 0001193125-25-223338 (NetIncomeLoss)
  4. 10-K · period ending 2023-06-30 · accession 0001213900-24-082909 (NetCashProvidedByUsedInOperatingActivities)
  5. 10-K · period ending 2024-06-30 · accession 0001193125-25-223338 (NetCashProvidedByUsedInOperatingActivities)
  6. 10-K · period ending 2023-06-30 · accession 0001213900-24-082909 (CashAndCashEquivalentsAtCarryingValue)
  7. 10-K · period ending 2024-06-30 · accession 0001193125-25-223338 (CashAndCashEquivalentsAtCarryingValue)