MeritValue

Pinnacle Food Group Ltd

PFAIdata completeness 88%4 fiscal years on file

Data notes: no data for concept 'dilutedShares'; no data for concept 'epsDiluted'; no data for concept 'interestExpense'

The thesis, from the filings

Pinnacle Food Group Ltd earns about 8% on equity. 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$177,3261$2.1M2$3.29M2$3.41M2
Net income−$205,1583$917,6874$286,1424−$1.9M4
Operating cash flow−$90,6035$62,3516$204,3476−$3.59M6
Capital expenditure$17,2527$3,0248$795,2348$1.73M8
Free cash flow (derived)−$107,8555$59,3276−$590,8876−$5.31M6
Total debt———$1.02M9
Cash & equivalents$11,52810$121,36811$685,79612$942,82012
Diluted shares————

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

iii. Is this a good business?
Moat signal · return on equity
8% avg · 4y
FY22 —FY23 —FY24 61%FY25 -46%

It earned an average 8% on equity over 4 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
— shares · 4y

Total debt has held roughly steady.

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
no diluted share count
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 0001213900-25-064318 (Revenues)
  2. 20-F · period ending 2023-12-31 · accession 0001213900-26-050423 (Revenues)
  3. 20-F · period ending 2022-12-31 · accession 0001213900-25-064318 (NetIncomeLoss)
  4. 20-F · period ending 2023-12-31 · accession 0001213900-26-050423 (NetIncomeLoss)
  5. 20-F · period ending 2022-12-31 · accession 0001213900-25-064318 (NetCashProvidedByUsedInOperatingActivities)
  6. 20-F · period ending 2023-12-31 · accession 0001213900-26-050423 (NetCashProvidedByUsedInOperatingActivities)
  7. 20-F · period ending 2022-12-31 · accession 0001213900-25-064318 (PaymentsToAcquirePropertyPlantAndEquipment)
  8. 20-F · period ending 2023-12-31 · accession 0001213900-26-050423 (PaymentsToAcquirePropertyPlantAndEquipment)
  9. 20-F · period ending 2025-12-31 · accession 0001213900-26-050423 (LongTermDebt)
  10. 20-F · period ending 2022-12-31 · accession 0001213900-26-050423 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  11. 20-F · period ending 2023-12-31 · accession 0001213900-25-064318 (CashAndCashEquivalentsAtCarryingValue)
  12. 20-F · period ending 2024-12-31 · accession 0001213900-26-050423 (CashAndCashEquivalentsAtCarryingValue)