MeritValue

PARKERVISION INC

PRKRdata completeness 100%17 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'

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$144,0001$925,0002$25M3$04$04
Net income−$12.3M5−$9.81M6$9.52M7−$14.5M8−$7.43M8
Operating cash flow−$7.7M9−$2.96M10$10.8M11−$3.22M12−$5.14M12
Capital expenditure$3,00013$4,00014$2,00015$016$2,00016
Free cash flow (derived)−$7.71M9−$2.96M10$10.8M11−$3.22M12−$5.15M12
Total debt$703,00017$612,00018$474,00019$340,00020$201,00021
Cash & equivalents$1.03M22$109,00023$2.56M24$4.92M25$4.36M25
Diluted shares71.3M78.4M119.9M92.2M121.3M

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
−$3.72
your share of equity
Profit it earned you last year
−$0.61
Free cash flow it threw off
−$0.42
Debt you’d be carrying
$0.02

10 shares is a claim on −$3.72 of net worth that earned you −$0.61 and generated −$0.42 of cash last year, against $0.02 of debt.

iii. Is this a good business?
Moat signal · return on equity
— avg · 5y

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

seeing a moat in the numbers →
Management signal · capital allocation
+70% shares · 5y

Share count is up 70% over 5 years — owners have been diluted. Worth asking what they got for it. Total debt has fallen 71% — 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 v0.5.0
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
  1. 10-K · period ending 2021-12-31 · accession 0001437749-23-008226 (Revenues)
  2. 10-K · period ending 2022-12-31 · accession 0001437749-24-008859 (Revenues)
  3. 10-K · period ending 2023-12-31 · accession 0001437749-25-008997 (Revenues)
  4. 10-K · period ending 2024-12-31 · accession 0001437749-26-009391 (Revenues)
  5. 10-K · period ending 2021-12-31 · accession 0001437749-23-008226 (NetIncomeLoss)
  6. 10-K · period ending 2022-12-31 · accession 0001437749-24-008859 (NetIncomeLoss)
  7. 10-K · period ending 2023-12-31 · accession 0001437749-25-008997 (NetIncomeLoss)
  8. 10-K · period ending 2024-12-31 · accession 0001437749-26-009391 (NetIncomeLoss)
  9. 10-K · period ending 2021-12-31 · accession 0001437749-23-008226 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-12-31 · accession 0001437749-24-008859 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-12-31 · accession 0001437749-25-008997 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-12-31 · accession 0001437749-26-009391 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2021-12-31 · accession 0001437749-23-008226 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K · period ending 2022-12-31 · accession 0001437749-24-008859 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K · period ending 2023-12-31 · accession 0001437749-25-008997 (PaymentsToAcquirePropertyPlantAndEquipment)
  16. 10-K · period ending 2024-12-31 · accession 0001437749-26-009391 (PaymentsToAcquirePropertyPlantAndEquipment)
  17. 10-K · period ending 2021-12-31 · accession 0000914139-22-000007 (LongTermDebt)
  18. 10-K · period ending 2022-12-31 · accession 0001437749-23-008226 (LongTermDebt)
  19. 10-K · period ending 2023-12-31 · accession 0001437749-24-008859 (LongTermDebt)
  20. 10-K · period ending 2024-12-31 · accession 0001437749-25-008997 (LongTermDebt)
  21. 10-K · period ending 2025-12-31 · accession 0001437749-26-009391 (LongTermDebt)
  22. 10-K · period ending 2021-12-31 · accession 0001437749-23-008226 (CashAndCashEquivalentsAtCarryingValue)
  23. 10-K · period ending 2022-12-31 · accession 0001437749-24-008859 (CashAndCashEquivalentsAtCarryingValue)
  24. 10-K · period ending 2023-12-31 · accession 0001437749-25-008997 (CashAndCashEquivalentsAtCarryingValue)
  25. 10-K · period ending 2024-12-31 · accession 0001437749-26-009391 (CashAndCashEquivalentsAtCarryingValue)