MeritValue

Presurance Holdings, Inc.

PRHIdata completeness 88%13 fiscal years on file
The thesis, from the filings

Presurance Holdings, Inc. earns about -148% on invested capital, but has diluted owners by 26% 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$116M1$104.9M2$90.5M3$67.3M4$43.3M4
Net income−$1.09M5−$10.7M6−$25.9M6$24.3M7−$18.4M7
Operating cash flow$5.36M8−$40.5M9−$13.4M9−$32.7M10−$43.9M10
Capital expenditure—————
Free cash flow (derived)—————
Total debt$33.6M11$33.9M12$25.1M13$11.9M14$12.2M14
Cash & equivalents$9.91M15$28M16$10.7M17$27.7M18$27.4M18
Diluted shares9.7M10.7M12.2M12.2M12.2M

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
$7.34
your share of equity
Profit it earned you last year
−$15.08
Free cash flow it threw off
—
Debt you’d be carrying
$9.97

10 shares is a claim on $7.34 of net worth that earned you −$15.08 last year, against $9.97 of debt.

iii. Is this a good business?
Moat signal · return on invested capital
-148% avg · 5y
FY21 1%FY22 -56%FY23 -112%FY24 -425%FY25 —

It earned an average -148% on invested capital over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
+26% shares · 5y

Share count is up 26% over 5 years — owners have been diluted. Worth asking what they got for it. Total debt has fallen 64% — deleveraging.

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. 10-K · period ending 2021-12-31 · accession 0000950170-23-009881 (Revenues)
  2. 10-K · period ending 2022-12-31 · accession 0000950170-24-039426 (Revenues)
  3. 10-K · period ending 2023-12-31 · accession 0000950170-25-046719 (Revenues)
  4. 10-K · period ending 2024-12-31 · accession 0001193125-26-129019 (Revenues)
  5. 10-K · period ending 2021-12-31 · accession 0000950170-23-009881 (ProfitLoss)
  6. 10-K · period ending 2022-12-31 · accession 0000950170-24-039426 (NetIncomeLoss)
  7. 10-K · period ending 2024-12-31 · accession 0001193125-26-129019 (ProfitLoss)
  8. 10-K · period ending 2021-12-31 · accession 0000950170-23-009881 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2022-12-31 · accession 0000950170-24-039426 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2024-12-31 · accession 0001193125-26-129019 (NetCashProvidedByUsedInOperatingActivitiesContinuingOperations)
  11. 10-K · period ending 2021-12-31 · accession 0000950170-23-009881 (LongTermDebt)
  12. 10-K · period ending 2022-12-31 · accession 0000950170-24-039426 (LongTermDebt)
  13. 10-K · period ending 2023-12-31 · accession 0000950170-25-046719 (LongTermDebt)
  14. 10-K · period ending 2024-12-31 · accession 0001193125-26-129019 (LongTermDebt)
  15. 10-K · period ending 2021-12-31 · accession 0000950170-23-009881 (CashAndCashEquivalentsAtCarryingValue)
  16. 10-K · period ending 2022-12-31 · accession 0000950170-24-039426 (CashAndCashEquivalentsAtCarryingValue)
  17. 10-K · period ending 2023-12-31 · accession 0000950170-25-046719 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K · period ending 2024-12-31 · accession 0001193125-26-129019 (CashAndCashEquivalentsAtCarryingValue)