OIO Group
OIOdata completeness 100%3 fiscal years on fileData notes: no data for concept 'interestExpense'
OIO Group earns about -190% on invested capital, below its ~9% cost of capital, but has diluted owners by 556% over 3 years — no moat visible in the numbers. The estimate methods put fair value between $0.53 and $0.59 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenue | $4.99M1 | $6.16M2 | $6.1M2 |
| Net income | −$2.39M3 | −$95M4 | −$633,2574 |
| Operating cash flow | $1.97M5 | $5.28M6 | −$3.11M6 |
| Capital expenditure | $502,6777 | $651,0448 | $304,7558 |
| Free cash flow (derived) | $1.47M5 | $4.63M6 | −$3.42M6 |
| Total debt | $5.8M9 | $5.78M10 | $4.32M10 |
| Cash & equivalents | $252,39911 | $366,76111 | $634,88211 |
| Diluted shares | 6.4M | 23.0M | 41.8M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $3.52 of net worth that earned you −$0.15 and generated −$0.82 of cash last year, against $1.03 of debt.
It earned about -190% on invested capital against a ~9% cost of capital — below the cost of funding. The numbers show no moat.
seeing a moat in the numbers →Share count is up 556% over 3 years — owners have been diluted. Worth asking what they got for it. Total debt has fallen 26% — 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 2 estimate methods that apply put fair value between $0.53 and $0.59 a share. They rest on different assumptions, so where they diverge is the story.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth5.0%
- fcfBase$1.47M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth5.0%
- fcfBase$1.47M
Different models answer different questions — which to trust when →
| Bear | 0.0% | $0.41 |
| Base | 5.0% | $0.53 |
| Bull | 10.0% | $0.68 |
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 2022-12-31 · accession 0001493152-24-020109 (Revenue)
- 20-F · period ending 2023-12-31 · accession 0001641172-25-006599 (Revenue)
- 20-F · period ending 2022-12-31 · accession 0001493152-24-020109 (ProfitLossAttributableToOwnersOfParent)
- 20-F · period ending 2023-12-31 · accession 0001641172-25-006599 (ProfitLossAttributableToOwnersOfParent)
- 20-F · period ending 2022-12-31 · accession 0001493152-24-020109 (CashFlowsFromUsedInOperatingActivities)
- 20-F · period ending 2023-12-31 · accession 0001641172-25-006599 (CashFlowsFromUsedInOperatingActivities)
- 20-F · period ending 2022-12-31 · accession 0001493152-24-020109 (PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities)
- 20-F · period ending 2023-12-31 · accession 0001641172-25-006599 (PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities)
- 20-F · period ending 2022-12-31 · accession 0001493152-24-020109 (Borrowings)
- 20-F · period ending 2023-12-31 · accession 0001641172-25-006599 (Borrowings)
- 20-F · period ending 2022-12-31 · accession 0001641172-25-006599 (CashAndCashEquivalents)