MeritValue

Platinum Analytics Cayman Ltd

PLTSdata completeness 75%3 fiscal years on file

Data notes: no data for concept 'totalDebt'; no data for concept 'interestExpense'; no data for concept 'incomeTaxExpense'

The thesis, from the filings

Platinum Analytics Cayman Ltd earns about -37% on equity, with a roughly flat share count. 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 2023FY 2024FY 2025
Revenue$582,2531$2.21M1$1.68M1
Net income−$1.24M2$778,3822−$2.02M2
Operating cash flow−$869,3553−$353,1643−$5.52M3
Capital expenditure$119,0384——
Free cash flow (derived)−$988,3933——
Total debt———
Cash & equivalents$4,4045$323,7385$2.61M5
Diluted shares15.8M15.8M15.8M

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
$3.42
your share of equity
Profit it earned you last year
−$1.28
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on $3.42 of net worth that earned you −$1.28 last year.

iii. Is this a good business?
Moat signal · return on equity
-37% avg · 3y
FY23 —FY24 —FY25 -37%

It earned an average -37% on equity over 3 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
+0% shares · 3y

Share count is roughly flat over 3 years — little dilution, little buyback.

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 1 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 1 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. 20-F · period ending 2023-09-30 · accession 0001493152-26-004347 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 20-F · period ending 2023-09-30 · accession 0001493152-26-004347 (NetIncomeLoss)
  3. 20-F · period ending 2023-09-30 · accession 0001493152-26-004347 (NetCashProvidedByUsedInOperatingActivities)
  4. 20-F · period ending 2023-09-30 · accession 0001493152-26-004347 (PaymentsToAcquirePropertyPlantAndEquipment)
  5. 20-F · period ending 2023-09-30 · accession 0001493152-26-004347 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)