MeritValue

QUANTUM CORP /DE/

QMCOdata completeness 100%17 fiscal years on file
i. The business — what you’d actually own
FigureFY 2022FY 2023FY 2024FY 2025FY 2026
Revenue$383.4M1$422.1M1$311.6M2$274.1M3$279.6M3
Net income$38.4M4−$18.4M4−$41.3M5−$115.1M6−$101M6
Operating cash flow−$33.7M7−$4.89M7−$10.2M8−$23.6M9−$37.9M9
Capital expenditure$6.32M10$12.6M10$5.87M11$4.95M12$1.71M12
Free cash flow (derived)−$40M7−$17.5M7−$16M8−$28.6M9−$39.6M9
Total debt$201M13$154.5M13$82.5M13$96.5M14$144.8M14
Cash & equivalents$5.21M15$26M15$25.7M16$16.5M17$15.6M17
Diluted shares66.0M91.2M4.8M5.2M12.7M

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
−$156.9
your share of equity
Profit it earned you last year
−$79.73
Free cash flow it threw off
−$31.22
Debt you’d be carrying
$114.29

10 shares is a claim on −$156.9 of net worth that earned you −$79.73 and generated −$31.22 of cash last year, against $114.29 of debt.

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
−81% shares · 5y

Share count is down 81% over 5 years — management has been buying back stock, quietly handing owners a bigger slice. Total debt has fallen 28% — deleveraging.

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 2022-03-31 · accession 0000709283-24-000014 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2024-03-31 · accession 0000709283-25-000027 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2025-03-31 · accession 0001628280-26-045602 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2022-03-31 · accession 0000709283-24-000014 (NetIncomeLoss)
  5. 10-K · period ending 2024-03-31 · accession 0000709283-25-000027 (NetIncomeLoss)
  6. 10-K · period ending 2025-03-31 · accession 0001628280-26-045602 (NetIncomeLoss)
  7. 10-K · period ending 2022-03-31 · accession 0000709283-24-000014 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2024-03-31 · accession 0000709283-25-000027 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2025-03-31 · accession 0001628280-26-045602 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-03-31 · accession 0000709283-24-000014 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2024-03-31 · accession 0000709283-25-000027 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 10-K · period ending 2025-03-31 · accession 0001628280-26-045602 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K · period ending 2022-03-31 · accession 0000709283-24-000014 (LongTermDebtNoncurrent)
  14. 10-K · period ending 2025-03-31 · accession 0001628280-26-045602 (LongTermDebtCurrent)
  15. 10-K · period ending 2022-03-31 · accession 0000709283-24-000014 (CashAndCashEquivalentsAtCarryingValue)
  16. 10-K · period ending 2024-03-31 · accession 0000709283-25-000027 (CashAndCashEquivalentsAtCarryingValue)
  17. 10-K · period ending 2025-03-31 · accession 0001628280-26-045602 (CashAndCashEquivalentsAtCarryingValue)