PS International Group Ltd.
PSIGdata completeness 100%4 fiscal years on fileData notes: no data for concept 'interestExpense'
PS International Group Ltd. earns about 67% on invested capital, far above its ~9% cost of capital, and has bought back 80% of its shares over 4 years — the marks of a durable business run for its owners. The estimate methods put fair value between $3.61 and $3.97 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Revenue | $97.2M1 | $140M2 | $87.1M2 | $53.1M2 |
| Net income | $2.43M3 | $4.58M4 | −$4.83M4 | −$15.2M4 |
| Operating cash flow | $951,3725 | $7.34M6 | −$1.84M6 | −$1.31M6 |
| Capital expenditure | $16,2747 | $1,5498 | — | $4.25M8 |
| Free cash flow (derived) | $935,0985 | $7.34M6 | — | −$5.55M6 |
| Total debt | — | — | $2.73M9 | $11.1M9 |
| Cash & equivalents | $7.39M10 | $10.8M11 | $8.16M11 | $8.94M11 |
| Diluted shares | 20.0M | 2.5M | 2.8M | 4.0M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on −$9.42 of net worth that earned you −$38.08 and generated −$13.9 of cash last year, against $27.78 of debt.
It earned about 67% on invested capital, year after year, against a ~9% cost of capital — the footprint of real pricing power. Competition usually drags returns like this back down; here it hasn't.
seeing a moat in the numbers →Share count is down 80% over 4 years — management has been buying back stock, quietly handing owners a bigger slice. Total debt has risen 307% over the same window.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
The 2 estimate methods that apply put fair value between $3.61 and $3.97 a share. They rest on different assumptions, so where they diverge is the story.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth5.0%
- fcfBase$935,098
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth5.0%
- fcfBase$935,098
Different models answer different questions — which to trust when →
| Bear | 0.0% | $2.8 |
| Base | 5.0% | $3.61 |
| Bull | 10.0% | $4.58 |
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.
- 20-F · period ending 2022-12-31 · accession 0001213900-25-037427 (RevenueFromContractWithCustomerIncludingAssessedTax)
- 20-F · period ending 2023-12-31 · accession 0001213900-26-050440 (RevenueFromContractWithCustomerIncludingAssessedTax)
- 20-F · period ending 2022-12-31 · accession 0001213900-25-037427 (NetIncomeLoss)
- 20-F · period ending 2023-12-31 · accession 0001213900-26-050440 (NetIncomeLoss)
- 20-F · period ending 2022-12-31 · accession 0001213900-25-037427 (NetCashProvidedByUsedInOperatingActivities)
- 20-F · period ending 2023-12-31 · accession 0001213900-26-050440 (NetCashProvidedByUsedInOperatingActivities)
- 20-F · period ending 2022-12-31 · accession 0001213900-25-037427 (PaymentsToAcquirePropertyPlantAndEquipment)
- 20-F · period ending 2023-12-31 · accession 0001213900-26-050440 (PaymentsToAcquirePropertyPlantAndEquipment)
- 20-F · period ending 2024-12-31 · accession 0001213900-26-050440 (LongTermDebtNoncurrent)
- 20-F · period ending 2022-12-31 · accession 0001213900-25-037427 (CashAndCashEquivalentsAtCarryingValue)
- 20-F · period ending 2023-12-31 · accession 0001213900-26-050440 (CashAndCashEquivalentsAtCarryingValue)