MeritValue

OMS Energy Technologies Inc.

OMSEdata completeness 88%2 fiscal years on file

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

The thesis, from the filings

OMS Energy Technologies Inc. earns about 177% on invested capital, but has diluted owners by 258200% over 2 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
FigureFY 2023FY 2025
Revenue$97.5M1$203.6M1
Net income$11.6M2$44.8M2
Operating cash flow$29M3$40.5M3
Capital expenditure$1.07M4$2.86M4
Free cash flow (derived)$28M3$37.6M3
Total debt——
Cash & equivalents$29.5M5$73M5
Diluted shares15,00038.7M

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
$33.27
your share of equity
Profit it earned you last year
$11.57
Free cash flow it threw off
$9.71
Debt you’d be carrying
—

10 shares is a claim on $33.27 of net worth that earned you $11.57 and generated $9.71 of cash last year.

iii. Is this a good business?
Moat signal · return on invested capital
177% avg · 2y
FY23 269%FY25 84%

It earned an average 177% on invested capital over 2 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
+258200% shares · 2y

Share count is up 258200% over 2 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 2 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 2 years of FCF (need ≥3) — model not applicable
Earnings Power Value
not applicable
only 2 years of net income (need ≥3)
Graham Number
$9.4
assumptions (1)
  • grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 20-F · period ending 2023-03-31 · accession 0000950170-25-098559 (Revenue)
  2. 20-F · period ending 2023-03-31 · accession 0000950170-25-098559 (ProfitLossAttributableToOwnersOfParent)
  3. 20-F · period ending 2023-03-31 · accession 0000950170-25-098559 (CashFlowsFromUsedInOperatingActivities)
  4. 20-F · period ending 2023-03-31 · accession 0000950170-25-098559 (PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities)
  5. 20-F · period ending 2023-03-31 · accession 0000950170-25-098559 (CashAndCashEquivalents)