MeritValue

PharmaCyte Biotech, Inc.

PMCBdata completeness 75%15 fiscal years on file

Data notes: no data for concept 'capex'; no data for concept 'totalDebt'; no data for concept 'pretaxIncome'

The thesis, from the filings

PharmaCyte Biotech, Inc. earns about -1% on equity, but has diluted owners by 406% 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$01$02$03$04$04
Net income−$3.55M5−$4.24M6−$4.32M7$333,7638$30.7M8
Operating cash flow−$3.33M9−$4.12M10−$3.79M11−$2.15M12−$2.98M12
Capital expenditure—————
Free cash flow (derived)—————
Total debt—————
Cash & equivalents$2.2M13$85.4M14$68M15$50.2M16$15.2M16
Diluted shares1.4M15.5M19.5M9.6M7.3M

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
$70.8
your share of equity
Profit it earned you last year
$41.83
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on $70.8 of net worth that earned you $41.83 last year.

iii. Is this a good business?
Moat signal · return on equity
-1% avg · 5y
FY21 -53%FY22 -5%FY23 -6%FY24 1%FY25 59%

It earned an average -1% 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
+406% shares · 5y

Share count is up 406% 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 0 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 0 years of FCF (need ≥3) — model not applicable
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
$22.54
assumptions (1)
  • grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K · period ending 2021-04-30 · accession 0001683168-22-005189 (Revenues)
  2. 10-K · period ending 2022-04-30 · accession 0001683168-23-005175 (Revenues)
  3. 10-K · period ending 2023-04-30 · accession 0001683168-24-005575 (Revenues)
  4. 10-K · period ending 2024-04-30 · accession 0001683168-25-005821 (Revenues)
  5. 10-K · period ending 2021-04-30 · accession 0001683168-22-005189 (NetIncomeLoss)
  6. 10-K · period ending 2022-04-30 · accession 0001683168-23-005175 (NetIncomeLoss)
  7. 10-K · period ending 2023-04-30 · accession 0001683168-24-005575 (NetIncomeLoss)
  8. 10-K · period ending 2024-04-30 · accession 0001683168-25-005821 (NetIncomeLoss)
  9. 10-K · period ending 2021-04-30 · accession 0001683168-22-005189 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-04-30 · accession 0001683168-23-005175 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-04-30 · accession 0001683168-24-005575 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-04-30 · accession 0001683168-25-005821 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2021-04-30 · accession 0001683168-23-005175 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  14. 10-K · period ending 2022-04-30 · accession 0001683168-23-005175 (CashAndCashEquivalentsAtCarryingValue)
  15. 10-K · period ending 2023-04-30 · accession 0001683168-24-005575 (CashAndCashEquivalentsAtCarryingValue)
  16. 10-K · period ending 2024-04-30 · accession 0001683168-25-005821 (CashAndCashEquivalentsAtCarryingValue)