MeritValue

PORTSMOUTH SQUARE INC

PRSIdata completeness 88%15 fiscal years on file
i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$14.7M1$31.5M2$42M3$41.9M4$46.4M4
Net income−$5.23M5−$6.57M5−$13.2M6−$11.4M7−$9.11M7
Operating cash flow−$10.7M8−$2.76M9$2.74M10$108,00011−$2.15M11
Capital expenditure$1.07M12$1.93M13$5.87M14$4.08M15$2.25M15
Free cash flow (derived)−$11.8M8−$4.69M9−$3.13M10−$3.97M11−$4.4M11
Total debt—$109.1M16———
Cash & equivalents$2.31M17$2.66M18$2.3M19$3.51M20$4.47M20
Diluted shares734,187734,187734,187734,187734,187

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
−$1,690.58
your share of equity
Profit it earned you last year
−$124.08
Free cash flow it threw off
−$59.93
Debt you’d be carrying
—

10 shares is a claim on −$1,690.58 of net worth that earned you −$124.08 and generated −$59.93 of cash last year.

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
−0% shares · 5y

Share count is roughly flat over 5 years — little dilution, little buyback. Total debt has held roughly steady.

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
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 2021-06-30 · accession 0001493152-22-027008 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K/A · period ending 2022-06-30 · accession 0001493152-23-037386 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2023-06-30 · accession 0001493152-24-038779 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2024-06-30 · accession 0001493152-25-016135 (RevenueFromContractWithCustomerExcludingAssessedTax)
  5. 10-K · period ending 2021-06-30 · accession 0001493152-22-027008 (NetIncomeLoss)
  6. 10-K · period ending 2023-06-30 · accession 0001493152-24-038779 (NetIncomeLoss)
  7. 10-K · period ending 2024-06-30 · accession 0001493152-25-016135 (NetIncomeLoss)
  8. 10-K · period ending 2021-06-30 · accession 0001493152-22-027008 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K/A · period ending 2022-06-30 · accession 0001493152-23-037386 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2023-06-30 · accession 0001493152-24-038779 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2024-06-30 · accession 0001493152-25-016135 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2021-06-30 · accession 0001493152-22-027008 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K/A · period ending 2022-06-30 · accession 0001493152-23-037386 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K · period ending 2023-06-30 · accession 0001493152-24-038779 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K · period ending 2024-06-30 · accession 0001493152-25-016135 (PaymentsToAcquirePropertyPlantAndEquipment)
  16. 10-K · period ending 2022-06-30 · accession 0001493152-22-027008 (LongTermDebt)
  17. 10-K · period ending 2021-06-30 · accession 0001493152-22-027008 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K/A · period ending 2022-06-30 · accession 0001493152-23-037386 (CashAndCashEquivalentsAtCarryingValue)
  19. 10-K · period ending 2023-06-30 · accession 0001493152-24-038779 (CashAndCashEquivalentsAtCarryingValue)
  20. 10-K · period ending 2024-06-30 · accession 0001493152-25-016135 (CashAndCashEquivalentsAtCarryingValue)