MeritValue

PREAXIA HEALTH CARE PAYMENT SYSTEMS INC.

PAXHdata completeness 88%17 fiscal years on file

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

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$4111$3682$03$04$04
Net income−$163,1935−$180,6436−$156,2667−$99,4498−$82,0108
Operating cash flow−$35,7179−$63,97110−$37,61711−$30,88812−$41,51612
Capital expenditure—————
Free cash flow (derived)—————
Total debt———$326,12213$201,33013
Cash & equivalents$4014$25915$616$1417$017
Diluted shares19.8M19.8M19.8M19.8M19.8M

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
−$1.18
your share of equity
Profit it earned you last year
−$0.04
Free cash flow it threw off
—
Debt you’d be carrying
$0.1

10 shares is a claim on −$1.18 of net worth that earned you −$0.04 last year, against $0.1 of debt.

iii. Is this a good business?
Moat signal · return on equity
— avg · 5y

Not enough data in the filings for a return-on-capital reading.

seeing a moat in the numbers →
Management signal · capital allocation
−0% shares · 5y

Share count is roughly flat over 5 years — little dilution, little buyback. Total debt has fallen 38% — 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
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
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. 10-K · period ending 2021-05-31 · accession 0001262463-22-000125 (Revenues)
  2. 10-K · period ending 2022-05-31 · accession 0001262463-23-000074 (Revenues)
  3. 10-K · period ending 2023-05-31 · accession 0001262463-24-000089 (Revenues)
  4. 10-K/A · period ending 2024-05-31 · accession 0001079973-25-001523 (Revenues)
  5. 10-K · period ending 2021-05-31 · accession 0001262463-22-000125 (NetIncomeLoss)
  6. 10-K · period ending 2022-05-31 · accession 0001262463-23-000074 (NetIncomeLoss)
  7. 10-K · period ending 2023-05-31 · accession 0001262463-24-000089 (NetIncomeLoss)
  8. 10-K/A · period ending 2024-05-31 · accession 0001079973-25-001523 (NetIncomeLoss)
  9. 10-K · period ending 2021-05-31 · accession 0001262463-22-000125 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-05-31 · accession 0001262463-23-000074 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-05-31 · accession 0001262463-24-000089 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K/A · period ending 2024-05-31 · accession 0001079973-25-001523 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K/A · period ending 2024-05-31 · accession 0001079973-25-001523 (ShortTermBorrowings)
  14. 10-K · period ending 2021-05-31 · accession 0001262463-22-000125 (CashAndCashEquivalentsAtCarryingValue)
  15. 10-K · period ending 2022-05-31 · accession 0001262463-23-000074 (CashAndCashEquivalentsAtCarryingValue)
  16. 10-K · period ending 2023-05-31 · accession 0001262463-24-000089 (CashAndCashEquivalentsAtCarryingValue)
  17. 10-K/A · period ending 2024-05-31 · accession 0001079973-25-001523 (CashAndCashEquivalentsAtCarryingValue)