MeritValue

PetroGas Co

PTCOdata completeness 63%11 fiscal years on file

Data notes: no data for concept 'capex'; no data for concept 'investmentsAtFairValue'; no data for concept 'netInvestmentIncome'; no data for concept 'depreciationAmortization'; no data for concept 'gainsOnRealEstateSales'; no data for concept 'realEstateImpairment'; no data for concept 'dividendsPaid'; no data for concept 'pretaxIncome'

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 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 shares48,44021.0M21.0M22.5M43.0M

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
shares
Net assets behind them
−$0.18
your share of equity
Profit it earned you last year
$0
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.

seeing a moat in the numbers →
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.

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
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
  1. 10-K · period ending 2021-03-31 · accession 0001640334-22-001335 (Revenues)
  2. 10-K · period ending 2021-03-31 · accession 0001640334-22-001335 (NetIncomeLoss)
  3. 10-K · period ending 2022-03-31 · accession 0001640334-23-001250 (NetIncomeLoss)
  4. 10-K · period ending 2023-03-31 · accession 0001640334-24-001017 (NetIncomeLoss)
  5. 10-K · period ending 2024-03-31 · accession 0001640334-25-001087 (NetIncomeLoss)
  6. 10-K · period ending 2021-03-31 · accession 0001640334-22-001335 (NetCashProvidedByUsedInOperatingActivities)
  7. 10-K · period ending 2022-03-31 · accession 0001640334-23-001250 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2023-03-31 · accession 0001640334-24-001017 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2024-03-31 · accession 0001640334-25-001087 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2021-03-31 · accession 0001640334-22-001335 (CommercialPaper)
  11. 10-K · period ending 2022-03-31 · accession 0001640334-23-001250 (CommercialPaper)
  12. 10-K · period ending 2021-03-31 · accession 0001640334-22-001335 (CashAndCashEquivalentsAtCarryingValue)
  13. 10-K · period ending 2023-03-31 · accession 0001640334-25-001087 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)