MeritValue

Premium Catering (Holdings) Ltd

PCdata completeness 100%2 fiscal years on file

Data notes: no data for concept 'interestExpense'

The thesis, from the filings

Premium Catering (Holdings) Ltd earns about -49% on invested capital, but has diluted owners by 46% 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 2024FY 2025
Revenue$3.81M1$3.35M2
Net income−$1.08M3−$4.24M4
Operating cash flow$446,4235−$11.4M6
Capital expenditure$7,6377$5,5598
Free cash flow (derived)$438,7865−$11.4M6
Total debt$796,6359$252,17610
Cash & equivalents$25,26311$1.51M12
Diluted shares20.0M29.2M

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
$2.78
your share of equity
Profit it earned you last year
−$1.45
Free cash flow it threw off
−$3.9
Debt you’d be carrying
$0.09

10 shares is a claim on $2.78 of net worth that earned you −$1.45 and generated −$3.9 of cash last year, against $0.09 of debt.

iii. Is this a good business?
Moat signal · return on invested capital
-49% avg · 2y
FY24 —FY25 -49%

It earned an average -49% 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
+46% shares · 2y

Share count is up 46% over 2 years — owners have been diluted. Worth asking what they got for it. Total debt has fallen 68% — 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 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
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 2024-06-30 · accession 0001493152-24-044714 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 20-F/A · period ending 2025-06-30 · accession 0001493152-25-025062 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 20-F · period ending 2024-06-30 · accession 0001493152-24-044714 (NetIncomeLoss)
  4. 20-F/A · period ending 2025-06-30 · accession 0001493152-25-025062 (NetIncomeLoss)
  5. 20-F · period ending 2024-06-30 · accession 0001493152-24-044714 (NetCashProvidedByUsedInOperatingActivities)
  6. 20-F/A · period ending 2025-06-30 · accession 0001493152-25-025062 (NetCashProvidedByUsedInOperatingActivities)
  7. 20-F · period ending 2024-06-30 · accession 0001493152-24-044714 (PaymentsToAcquirePropertyPlantAndEquipment)
  8. 20-F/A · period ending 2025-06-30 · accession 0001493152-25-025062 (PaymentsToAcquirePropertyPlantAndEquipment)
  9. 20-F · period ending 2024-06-30 · accession 0001493152-24-044714 (LongTermDebtNoncurrent)
  10. 20-F/A · period ending 2025-06-30 · accession 0001493152-25-025062 (LongTermDebtNoncurrent)
  11. 20-F · period ending 2024-06-30 · accession 0001493152-24-044714 (CashAndCashEquivalentsAtCarryingValue)
  12. 20-F/A · period ending 2025-06-30 · accession 0001493152-25-025062 (CashAndCashEquivalentsAtCarryingValue)