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Rain Enhancement Technologies Holdco, Inc.

RAINdata completeness 63%3 fiscal years on file
i. The business — what you’d actually own
FigureFY 2023FY 2024FY 2025
Revenue———
Net income−$437,0071−$4.53M2−$9.09M2
Operating cash flow−$238,1133−$1.32M4−$1.95M4
Capital expenditure$264,1545$45,8286$987,8056
Free cash flow (derived)−$502,2673,5−$1.37M4,6−$2.94M4,6
Total debt—$839,0007—
Cash & equivalents$37,3458$32,6048$213,6889
Diluted shares———

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom). A derived or summed figure cites every filing line it was built from.

iii. Is this a good business?
Moat signal · return on equity
— avg · 3y

Not enough data in the filings for a return-on-capital reading.

seeing a moat in the numbers →
Management signal · capital allocation
— shares · 3y

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 v0.6.0
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 →

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Sources — the receipts
  1. 10-K filed 2025-04-16 · period ending 2023-12-31 · accession 0001213900-25-032239 (NetIncomeLoss)
  2. 10-K filed 2026-04-15 · periods ending 2024-12-31, 2025-12-31 · accession 0001213900-26-044121 (NetIncomeLoss)
  3. 10-K filed 2025-04-16 · period ending 2023-12-31 · accession 0001213900-25-032239 (NetCashProvidedByUsedInOperatingActivities)
  4. 10-K filed 2026-04-15 · periods ending 2024-12-31, 2025-12-31 · accession 0001213900-26-044121 (NetCashProvidedByUsedInOperatingActivities)
  5. 10-K filed 2025-04-16 · period ending 2023-12-31 · accession 0001213900-25-032239 (PaymentsToAcquirePropertyPlantAndEquipment)
  6. 10-K filed 2026-04-15 · periods ending 2024-12-31, 2025-12-31 · accession 0001213900-26-044121 (PaymentsToAcquirePropertyPlantAndEquipment)
  7. 10-K filed 2025-04-16 · period ending 2024-12-31 · accession 0001213900-25-032239 (LongTermDebt)
  8. 10-K filed 2025-04-16 · periods ending 2023-12-31, 2024-12-31 · accession 0001213900-25-032239 (CashAndCashEquivalentsAtCarryingValue)
  9. 10-K filed 2026-04-15 · period ending 2025-12-31 · accession 0001213900-26-044121 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)