PetroGas Co

PTCOdata completeness 63%11 fiscal years on file

Data notes: no data for concept 'capex'; no data for concept 'pretaxIncome'

i. The business — what you’d actually own

Figure	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Revenue	$0¹	$0¹	—	—	—
Net income	−$116,541²	−$140.1M³	−$102,575⁴	−$90,588⁵	$8,978⁵
Operating cash flow	−$28,634⁶	−$32,533⁷	−$33,600⁸	−$42,167⁹	−$29,942⁹
Capital expenditure	—	—	—	—	—
Free cash flow (derived)	—	—	—	—	—
Total debt	$6,962¹⁰	$6,962¹¹	$6,962¹¹	—	—
Cash & equivalents	$0¹²	$0¹²	$0¹³	$0¹³	$0¹³
Diluted shares	48,440	21.0M	21.0M	22.5M	43.0M

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

Net assets behind them

−$0.18

your share of equity

Profit it earned you last year

Free cash flow it threw off

—

Debt you’d be carrying

—

10 shares is a claim on −$0.18 of net worth that earned you $0 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.

Management signal · capital allocation

+88722% shares · 5y

Share count is up 88722% over 5 years — owners have been diluted. Worth asking what they got for it. Total debt has held roughly steady.

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 0 years of FCF (need ≥3) — model not applicable

DCF · Growth Exit 5Y

not applicable

only 0 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