MeritValue

Ohmyhome Ltd

OMHdata completeness 100%4 fiscal years on file

Data notes: no data for concept 'incomeTaxExpense'

The thesis, from the filings

Ohmyhome Ltd earns about -1156% on invested capital, and has bought back 13% of its shares over 4 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 2022FY 2023FY 2024FY 2025
Revenue$5.24M1$3.79M2$7.97M2$9.52M3
Net income−$2.28M4−$4.15M5−$3.17M6−$7.16M7
Operating cash flow−$2.32M8−$3.68M9−$2.21M10−$3.29M11
Capital expenditure$11,43412$38,21313$19,79714$71,47815
Free cash flow (derived)−$2.33M8−$3.72M9−$2.23M10−$3.36M11
Total debt—$422,76616$478,29017$2,98918
Cash & equivalents$224,88319$145,38620$838,69821$3.57M22
Diluted shares16.3M1.8M2.4M14.1M

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
$2.64
your share of equity
Profit it earned you last year
−$5.06
Free cash flow it threw off
−$2.38
Debt you’d be carrying
$0

10 shares is a claim on $2.64 of net worth that earned you −$5.06 and generated −$2.38 of cash last year, against $0 of debt.

iii. Is this a good business?
Moat signal · return on invested capital
-1156% avg · 4y
FY22 —FY23 -90%FY24 -54%FY25 -3324%

It earned an average -1156% on invested capital over 4 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
−13% shares · 4y

Share count is down 13% over 4 years — management has been buying back stock, quietly handing owners a bigger slice. Total debt has fallen 99% — deleveraging.

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
  1. 20-F · period ending 2022-12-31 · accession 0001493152-23-013845 (RevenueFromContractWithCustomerIncludingAssessedTax)
  2. 20-F · period ending 2023-12-31 · accession 0001641172-25-006592 (RevenueFromContractWithCustomerIncludingAssessedTax)
  3. 20-F · period ending 2025-12-31 · accession 0001213900-26-048586 (RevenueFromContractWithCustomerIncludingAssessedTax)
  4. 20-F · period ending 2022-12-31 · accession 0001493152-23-013845 (NetIncomeLoss)
  5. 20-F/A · period ending 2023-12-31 · accession 0001493152-24-018940 (NetIncomeLoss)
  6. 20-F · period ending 2024-12-31 · accession 0001641172-25-006592 (NetIncomeLoss)
  7. 20-F · period ending 2025-12-31 · accession 0001213900-26-048586 (NetIncomeLoss)
  8. 20-F · period ending 2022-12-31 · accession 0001493152-23-013845 (NetCashProvidedByUsedInOperatingActivities)
  9. 20-F/A · period ending 2023-12-31 · accession 0001493152-24-018940 (NetCashProvidedByUsedInOperatingActivities)
  10. 20-F · period ending 2024-12-31 · accession 0001641172-25-006592 (NetCashProvidedByUsedInOperatingActivities)
  11. 20-F · period ending 2025-12-31 · accession 0001213900-26-048586 (NetCashProvidedByUsedInOperatingActivities)
  12. 20-F · period ending 2022-12-31 · accession 0001493152-23-013845 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 20-F/A · period ending 2023-12-31 · accession 0001493152-24-018940 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 20-F · period ending 2024-12-31 · accession 0001641172-25-006592 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 20-F · period ending 2025-12-31 · accession 0001213900-26-048586 (PaymentsToAcquirePropertyPlantAndEquipment)
  16. 20-F/A · period ending 2023-12-31 · accession 0001493152-24-018940 (LongTermDebt)
  17. 20-F · period ending 2024-12-31 · accession 0001641172-25-006592 (LongTermDebt)
  18. 20-F · period ending 2025-12-31 · accession 0001213900-26-048586 (LongTermDebt)
  19. 20-F · period ending 2022-12-31 · accession 0001493152-23-013845 (CashAndCashEquivalentsAtCarryingValue)
  20. 20-F/A · period ending 2023-12-31 · accession 0001493152-24-018940 (CashAndCashEquivalentsAtCarryingValue)
  21. 20-F · period ending 2024-12-31 · accession 0001641172-25-006592 (CashAndCashEquivalentsAtCarryingValue)
  22. 20-F · period ending 2025-12-31 · accession 0001213900-26-048586 (CashAndCashEquivalentsAtCarryingValue)