MeritValue

QUOTEMEDIA INC

QMCIdata completeness 88%16 fiscal years on file

Data notes: no data for concept 'totalDebt'

The thesis, from the filings

QUOTEMEDIA INC earns about -94% on equity, below its ~9% cost of capital, and has bought back 24% of its shares over 5 years — no moat visible in the numbers. The estimate methods put fair value between $0.02 and $1.31 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$15.2M1$17.5M2$18.9M3$18.7M4$20.3M4
Net income$212,3725$444,4706$361,5847−$1.33M8−$2.32M8
Operating cash flow$2.16M9$3.14M10$3.15M11$3.68M12$1.11M12
Capital expenditure$94,40613$164,22114$81,80915$37,66216$56,56216
Free cash flow (derived)$2.06M9$2.98M10$3.07M11$3.64M12$1.05M12
Total debt—————
Cash & equivalents$258,70517$477,98717$342,01418$585,31918$319,88918
Diluted shares119.3M119.4M120.7M90.5M90.5M

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
−$0.09
your share of equity
Profit it earned you last year
−$0.26
Free cash flow it threw off
$0.12
Debt you’d be carrying
—

10 shares is a claim on −$0.09 of net worth that earned you −$0.26 and generated $0.12 of cash last year.

iii. Is this a good business?
Moat signal · return on equity
-94% avg · 5y
FY21 —FY22 —FY23 —FY24 -94%FY25 —

It earned about -94% on equity 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
−24% shares · 5y

Share count is down 24% over 5 years — management has been buying back stock, quietly handing owners a bigger slice.

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 3 estimate methods that apply put fair value between $0.02 and $1.31 a share. They rest on different assumptions, so where they diverge is the story.

DCF · Growth Exit 10Y
$1.31
assumptions (10)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth14.1%
  • fcfBase$3.07M
DCF · Growth Exit 5Y
$0.88
assumptions (10)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth14.1%
  • fcfBase$3.07M
Earnings Power Value
$0.02
assumptions (8)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$212,372
  • growthAssumed0.0%
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 years14.1%
Discount rate (WACC)8.93%
Terminal growth2.5%
At your growth, a share is worth $0.88
The three cases
Bear0.0%$0.49
Base14.1%$0.88
Bull19.1%$1.07

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

Default growth 14.1%= 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 0001654954-23-004087 (Revenues)
  2. 10-K · period ending 2022-12-31 · accession 0001654954-24-004360 (Revenues)
  3. 10-K · period ending 2023-12-31 · accession 0001654954-25-004291 (Revenues)
  4. 10-K · period ending 2024-12-31 · accession 0001654954-26-003294 (Revenues)
  5. 10-K · period ending 2021-12-31 · accession 0001654954-23-004087 (NetIncomeLoss)
  6. 10-K · period ending 2022-12-31 · accession 0001654954-24-004360 (NetIncomeLoss)
  7. 10-K · period ending 2023-12-31 · accession 0001654954-25-004291 (NetIncomeLoss)
  8. 10-K · period ending 2024-12-31 · accession 0001654954-26-003294 (NetIncomeLoss)
  9. 10-K · period ending 2021-12-31 · accession 0001654954-23-004087 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-12-31 · accession 0001654954-24-004360 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-12-31 · accession 0001654954-25-004291 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-12-31 · accession 0001654954-26-003294 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2021-12-31 · accession 0001654954-23-004087 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K · period ending 2022-12-31 · accession 0001654954-24-004360 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K · period ending 2023-12-31 · accession 0001654954-25-004291 (PaymentsToAcquirePropertyPlantAndEquipment)
  16. 10-K · period ending 2024-12-31 · accession 0001654954-26-003294 (PaymentsToAcquirePropertyPlantAndEquipment)
  17. 10-K · period ending 2021-12-31 · accession 0001654954-23-004087 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K · period ending 2023-12-31 · accession 0001654954-26-003294 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)