MeritValue

Precipio, Inc.

PRPOdata completeness 100%17 fiscal years on file

Data notes: no data for concept 'interestExpense'

The thesis, from the filings

Precipio, Inc. earns about -38% on invested capital, below its ~9% cost of capital, and has bought back 92% of its shares over 5 years — no moat visible in the numbers. The estimate methods put fair value between $3.94 and $4.14 a share.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$8.7M1$9.82M2$15.4M3$18.6M4$24.2M4
Net income−$8.52M5−$12.2M6−$5.85M7−$4.29M8−$363,0008
Operating cash flow−$6.58M9−$7.72M10−$3.56M11$439,00012$685,00012
Capital expenditure$682,00013$277,00014$126,00015$223,00016$326,00016
Free cash flow (derived)−$7.26M9−$8M10−$3.69M11$216,00012$359,00012
Total debt$186,00017$793,00018$694,00019$757,00020$160,00020
Cash & equivalents$11.7M21$3.45M22$1.5M23$1.39M24$2.65M24
Diluted shares21.1M1.1M1.3M1.5M1.6M

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
$90.72
your share of equity
Profit it earned you last year
−$2.26
Free cash flow it threw off
$2.24
Debt you’d be carrying
$1

10 shares is a claim on $90.72 of net worth that earned you −$2.26 and generated $2.24 of cash last year, against $1 of debt.

iii. Is this a good business?
Moat signal · return on invested capital
-38% avg · 5y
FY21 -51%FY22 -70%FY23 -34%FY24 -30%FY25 -2%

It earned about -38% on invested capital against a ~9% cost of capital — below the cost of funding. The numbers show no moat.

seeing a moat in the numbers →
Management signal · capital allocation
−92% shares · 5y

Share count is down 92% over 5 years — management has been buying back stock, quietly handing owners a bigger slice. Total debt has fallen 14% — 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

The 2 estimate methods that apply put fair value between $3.94 and $4.14 a share. They rest on different assumptions, so where they diverge is the story.

DCF · Growth Exit 10Y
$4.14
assumptions (10)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth5.0%
  • fcfBase$216,000
DCF · Growth Exit 5Y
$3.94
assumptions (10)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth5.0%
  • fcfBase$216,000
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 →

v. The price question — last, on purpose
Is today’s price fair?
See live price ↗
Type a price. The ledger answers.
Or set your own belief
FCF growth, next 5 years5.0%
Discount rate (WACC)8.93%
Terminal growth2.5%
At your growth, a share is worth $3.94
The three cases
Bear0.0%$3.47
Base5.0%$3.94
Bull10.0%$4.5

Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.

Default growth 5.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.

Sources — the receipts
  1. 10-K · period ending 2021-12-31 · accession 0001558370-23-005076 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2022-12-31 · accession 0001558370-24-004365 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2023-12-31 · accession 0001558370-25-003817 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2024-12-31 · accession 0001104659-26-036878 (RevenueFromContractWithCustomerExcludingAssessedTax)
  5. 10-K · period ending 2021-12-31 · accession 0001558370-23-005076 (ProfitLoss)
  6. 10-K · period ending 2022-12-31 · accession 0001558370-24-004365 (ProfitLoss)
  7. 10-K · period ending 2023-12-31 · accession 0001558370-25-003817 (ProfitLoss)
  8. 10-K · period ending 2024-12-31 · accession 0001104659-26-036878 (NetIncomeLoss)
  9. 10-K · period ending 2021-12-31 · accession 0001558370-23-005076 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-12-31 · accession 0001558370-24-004365 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-12-31 · accession 0001558370-25-003817 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-12-31 · accession 0001104659-26-036878 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2021-12-31 · accession 0001558370-23-005076 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K · period ending 2022-12-31 · accession 0001558370-24-004365 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K · period ending 2023-12-31 · accession 0001558370-25-003817 (PaymentsToAcquirePropertyPlantAndEquipment)
  16. 10-K · period ending 2024-12-31 · accession 0001104659-26-036878 (PaymentsToAcquirePropertyPlantAndEquipment)
  17. 10-K · period ending 2021-12-31 · accession 0001558370-23-005076 (LongTermDebtNoncurrent)
  18. 10-K · period ending 2022-12-31 · accession 0001558370-24-004365 (LongTermDebtNoncurrent)
  19. 10-K · period ending 2023-12-31 · accession 0001558370-25-003817 (LongTermDebtNoncurrent)
  20. 10-K · period ending 2024-12-31 · accession 0001104659-26-036878 (LongTermDebtNoncurrent)
  21. 10-K · period ending 2021-12-31 · accession 0001558370-23-005076 (CashAndCashEquivalentsAtCarryingValue)
  22. 10-K · period ending 2022-12-31 · accession 0001558370-24-004365 (CashAndCashEquivalentsAtCarryingValue)
  23. 10-K · period ending 2023-12-31 · accession 0001558370-25-003817 (CashAndCashEquivalentsAtCarryingValue)
  24. 10-K · period ending 2024-12-31 · accession 0001104659-26-036878 (CashAndCashEquivalentsAtCarryingValue)