MeritValue

PMV Consumer Acquisition Corp.

PMVCdata completeness 50%6 fiscal years on file

Data notes: no data for concept 'revenue'; no data for concept 'capex'; no data for concept 'totalDebt'; no data for concept 'epsDiluted'; no data for concept 'interestExpense'

The thesis, from the filings

PMV Consumer Acquisition Corp. earns about 270% 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 2021FY 2022FY 2023FY 2024FY 2025
Revenue—————
Net income$5.03M1$8.62M2−$108,1413−$156,3804−$154,0664
Operating cash flow−$492,7325−$1.13M6−$76,5277$41,1568−$36,6448
Capital expenditure—————
Free cash flow (derived)—————
Total debt—————
Cash & equivalents$1.51M9$1.15M9$1.07M10$1.11M11$1.08M11
Diluted shares—2,244———

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
270% avg · 5y
FY21 —FY22 1182%FY23 -17%FY24 -34%FY25 -50%

It earned an average 270% 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
−0% shares · 5y

Share count is roughly flat over 5 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 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
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 2021-12-31 · accession 0001213900-23-025429 (NetIncomeLoss)
  2. 10-K · period ending 2022-12-31 · accession 0001213900-24-027196 (NetIncomeLoss)
  3. 10-K · period ending 2023-12-31 · accession 0001013762-25-003340 (NetIncomeLoss)
  4. 10-K · period ending 2024-12-31 · accession 0001213900-26-036375 (NetIncomeLoss)
  5. 10-K · period ending 2021-12-31 · accession 0001213900-23-025429 (NetCashProvidedByUsedInOperatingActivities)
  6. 10-K · period ending 2022-12-31 · accession 0001213900-24-027196 (NetCashProvidedByUsedInOperatingActivities)
  7. 10-K · period ending 2023-12-31 · accession 0001013762-25-003340 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2024-12-31 · accession 0001213900-26-036375 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2021-12-31 · accession 0001213900-23-025429 (CashAndCashEquivalentsAtCarryingValue)
  10. 10-K · period ending 2023-12-31 · accession 0001213900-26-036375 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  11. 10-K · period ending 2024-12-31 · accession 0001213900-26-036375 (CashAndCashEquivalentsAtCarryingValue)