MeritValue

Video River Networks, Inc.

NIHKdata completeness 63%8 fiscal years on file

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

The thesis, from the filings

Video River Networks, Inc. earns about -839% on invested capital, but has diluted owners by 3% over 5 years — worth asking whether the growth reaches owners. The applicable estimate puts fair value near $0.04 a share.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 2020FY 2021FY 2022FY 2023FY 2024
Revenue$1.25M1$7.48M2$3.87M3$664,6134—
Net income−$82,9805$2.21M5$767,1215$496,0265$1.46M5
Operating cash flow−$120,0086$1.87M7$1.05M8$601,7019−$52,6899
Capital expenditure—————
Free cash flow (derived)—————
Total debt—————
Cash & equivalents$1,63010$701,04211$64,57912$7,00913$23,21513
Diluted shares177.9M177.9M182.4M182.4M182.4M

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
$0.08
your share of equity
Profit it earned you last year
$0.08
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on $0.08 of net worth that earned you $0.08 last year.

iii. Is this a good business?
Moat signal · return on invested capital
-839% avg · 5y
FY20 -4333%FY21 123%FY22 21%FY23 -0%FY24 -5%

It earned an average -839% 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
+3% shares · 5y

Share count is up 3% 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 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
$0.04
assumptions (8)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$767,121
  • growthAssumed0.0%
Graham Number
$0.04
assumptions (1)
  • grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K · period ending 2020-12-31 · accession 0001493152-22-009873 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K/A · period ending 2021-12-31 · accession 0001493152-23-027201 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2022-12-31 · accession 0001493152-24-015039 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2023-12-31 · accession 0001641172-25-004927 (RevenueFromContractWithCustomerExcludingAssessedTax)
  5. 10-K · period ending 2020-12-31 · accession 0001641172-25-004927 (NetIncomeLoss)
  6. 10-K · period ending 2020-12-31 · accession 0001493152-22-009873 (NetCashProvidedByUsedInOperatingActivities)
  7. 10-K/A · period ending 2021-12-31 · accession 0001493152-23-027201 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2022-12-31 · accession 0001493152-24-015039 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2023-12-31 · accession 0001641172-25-004927 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2020-12-31 · accession 0001493152-22-009873 (CashAndCashEquivalentsAtCarryingValue)
  11. 10-K/A · period ending 2021-12-31 · accession 0001493152-23-027201 (CashAndCashEquivalentsAtCarryingValue)
  12. 10-K · period ending 2022-12-31 · accession 0001493152-24-015039 (CashAndCashEquivalentsAtCarryingValue)
  13. 10-K · period ending 2023-12-31 · accession 0001641172-25-004927 (CashAndCashEquivalentsAtCarryingValue)