Polibeli Group Ltd

PLBLdata completeness 100%3 fiscal years on file

Data notes: no data for concept 'investmentsAtFairValue'; no data for concept 'netInvestmentIncome'; no data for concept 'gainsOnRealEstateSales'; no data for concept 'realEstateImpairment'; no data for concept 'dividendsPaid'; no data for concept 'interestExpense'

i. The business — what you’d actually own

Figure	FY 2023	FY 2024	FY 2025
Revenue	$21.9M¹	$29M¹	$24.1M¹
Net income	−$6.73M²	−$11M²	−$5.97M²
Operating cash flow	−$4.71M³	−$5.55M³	−$6.35M³
Capital expenditure	$2M⁴	$119,292⁴	$154,969⁴
Free cash flow (derived)	−$6.71M³	−$5.67M³	−$6.51M³
Total debt	—	$540,286⁵	$3.48M⁶
Cash & equivalents	$2.97M⁷	$2.65M⁷	$1.8M⁷
Diluted shares	360.0M	360.0M	362.6M

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

Net assets behind them

−$1.25

your share of equity

Profit it earned you last year

−$0.16

Free cash flow it threw off

−$0.18

Debt you’d be carrying

$0.1

10 shares is a claim on −$1.25 of net worth that earned you −$0.16 and generated −$0.18 of cash last year, against $0.1 of debt.

iii. Is this a good business?

Moat signal · return on equity

— avg · 3y

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

seeing a moat in the numbers →

Management signal · capital allocation

+1% shares · 3y

Share count is roughly flat over 3 years — little dilution, little buyback. Total debt has risen 543% over the same window.

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 v0.5.0

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

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

20-F · period ending 2023-12-31 · accession 0001213900-26-047262 (RevenueFromContractWithCustomerExcludingAssessedTax)
20-F · period ending 2023-12-31 · accession 0001213900-26-047262 (NetIncomeLoss)
20-F · period ending 2023-12-31 · accession 0001213900-26-047262 (NetCashProvidedByUsedInOperatingActivities)
20-F · period ending 2023-12-31 · accession 0001213900-26-047262 (PaymentsToAcquirePropertyPlantAndEquipment)
20-F · period ending 2024-12-31 · accession 0001213900-26-047262 (LongTermDebtNoncurrent)
20-F · period ending 2025-12-31 · accession 0001213900-26-047262 (LongTermDebtCurrent)
20-F · period ending 2023-12-31 · accession 0001213900-26-047262 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)