New ERA Energy & Digital, Inc.

NUAIdata completeness 88%3 fiscal years on file

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

The thesis, from the filings

New ERA Energy & Digital, Inc. earns about 2% on equity, but has diluted owners by 368% over 3 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

Figure	FY 2023	FY 2024	FY 2025
Revenue	$612,192¹	$532,780¹	$885,400²
Net income	$10,145³	−$13.8M⁴	−$29.6M⁴
Operating cash flow	−$2.68M⁵	−$5.35M⁶	−$11.7M⁶
Capital expenditure	$3.58M⁷	$210,000⁸	$1.67M⁸
Free cash flow (derived)	−$6.26M⁵	−$5.56M⁶	−$13.4M⁶
Total debt	—	—	—
Cash & equivalents	$120,010⁹	$1.05M¹⁰	$1.2M¹⁰
Diluted shares	6.1M	13.0M	28.4M

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

Net assets behind them

−$0.92

your share of equity

Profit it earned you last year

−$10.4

Free cash flow it threw off

−$4.7

Debt you’d be carrying

—

10 shares is a claim on −$0.92 of net worth that earned you −$10.4 and generated −$4.7 of cash last year.

iii. Is this a good business?

Moat signal · return on equity

2% avg · 3y

FY23 2%FY24 —FY25 —

It earned an average 2% on equity over 3 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →

Management signal · capital allocation

+368% shares · 3y

Share count is up 368% over 3 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

3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)

DCF · Growth Exit 5Y

not applicable

3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)

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

10-K · period ending 2023-12-31 · accession 0001410578-25-000590 (RevenueFromContractWithCustomerExcludingAssessedTax)
10-K · period ending 2025-12-31 · accession 0001213900-26-026501 (RevenueFromContractWithCustomerIncludingAssessedTax)
10-K · period ending 2023-12-31 · accession 0001410578-25-000590 (NetIncomeLoss)
10-K · period ending 2024-12-31 · accession 0001213900-26-026501 (NetIncomeLoss)
10-K · period ending 2023-12-31 · accession 0001410578-25-000590 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2024-12-31 · accession 0001213900-26-026501 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2023-12-31 · accession 0001410578-25-000590 (PaymentsToAcquirePropertyPlantAndEquipment)
10-K · period ending 2024-12-31 · accession 0001213900-26-026501 (PaymentsToAcquirePropertyPlantAndEquipment)
10-K · period ending 2023-12-31 · accession 0001410578-25-000590 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2024-12-31 · accession 0001213900-26-026501 (CashAndCashEquivalentsAtCarryingValue)