MeritValue

Panamera Holdings Corp

PHCIdata completeness 88%11 fiscal years on file

Data notes: no data for concept 'totalDebt'

The thesis, from the filings

Panamera Holdings Corp earns about -7208% on equity, but has diluted owners by 95% over 5 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 2021FY 2022FY 2023FY 2024FY 2025
Revenue—$41,6661$02$11,3233$126,2773
Net income−$95,3524−$34,0445−$7.12M6−$15.2M7−$536,4147
Operating cash flow−$99,3648−$29,2619−$98,07110−$99,38011−$515,32011
Capital expenditure———$48,00012$012
Free cash flow (derived)———−$147,38011−$515,32011
Total debt—————
Cash & equivalents$1013$3,08713$118,56914$1,83814$85,98014
Diluted shares23.6M39.2M35.5M40.3M45.9M

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
$0.14
your share of equity
Profit it earned you last year
−$0.12
Free cash flow it threw off
−$0.11
Debt you’d be carrying
—

10 shares is a claim on $0.14 of net worth that earned you −$0.12 and generated −$0.11 of cash last year.

iii. Is this a good business?
Moat signal · return on equity
-7208% avg · 5y
FY21 —FY22 —FY23 -14330%FY24 —FY25 -86%

It earned an average -7208% on equity over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
+95% shares · 5y

Share count is up 95% over 5 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
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 2022-07-31 · accession 0001640334-23-002189 (Revenues)
  2. 10-K · period ending 2023-07-31 · accession 0001640334-25-000065 (Revenues)
  3. 10-K · period ending 2024-07-31 · accession 0001640334-25-002212 (RevenueFromContractWithCustomerIncludingAssessedTax)
  4. 10-K/A · period ending 2021-07-31 · accession 0001640334-23-001712 (NetIncomeLoss)
  5. 10-K · period ending 2022-07-31 · accession 0001640334-23-002189 (NetIncomeLoss)
  6. 10-K · period ending 2023-07-31 · accession 0001640334-25-000065 (NetIncomeLoss)
  7. 10-K · period ending 2024-07-31 · accession 0001640334-25-002212 (NetIncomeLoss)
  8. 10-K/A · period ending 2021-07-31 · accession 0001640334-23-001712 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2022-07-31 · accession 0001640334-23-002189 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2023-07-31 · accession 0001640334-25-000065 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2024-07-31 · accession 0001640334-25-002212 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-07-31 · accession 0001640334-25-002212 (PaymentsToAcquireProductiveAssets)
  13. 10-K/A · period ending 2021-07-31 · accession 0001640334-23-001712 (CashAndCashEquivalentsAtCarryingValue)
  14. 10-K · period ending 2023-07-31 · accession 0001640334-25-002212 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)