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REGIONAL HEALTH PROPERTIES, INC

RHEPdata completeness 100%16 fiscal years on file
The thesis, from the filings

REGIONAL HEALTH PROPERTIES, INC earns about -333% on equity, below its ~9% cost of capital, and has bought back 100% of its shares over 5 years — no moat visible in the numbers. The estimate methods put fair value between $469.03 and $11,292.84 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$26.7M1$35.9M2$17.2M3$18.3M4$53.2M4
Net income−$1.18M5−$6.87M6−$3.89M6−$3.22M7$3.37M7
Operating cash flow$4.89M8−$3.6M9$3.71M10$1.94M11−$2.26M11
Capital expenditure$123,00012$281,00013$958,00014$530,00015$869,00015
Free cash flow (derived)$4.77M8,12−$3.88M9,13$2.75M10,14$1.41M11,15−$3.13M11,15
Total debt$52.9M16$52.2M17$50.7M18$49.7M19$43.2M19
Cash & equivalents$6.8M20$800,00021$1M22$582,00023$3M24
Diluted shares1.7M1.8M1,8771,8582,805

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.

ii. Your slice — ownership made literal
If you owned
shares
Net assets behind them
$1,244.21
your share of equity
Profit it earned you last year
$12,014.26
Free cash flow it threw off
−$11,155.08
Debt you’d be carrying
$153,843.14

10 shares is a claim on $1,244.21 of net worth that earned you $12,014.26 and generated −$11,155.08 of cash last year, against $153,843.14 of debt.

iii. Is this a good business?
Moat signal · return on equity
-333% avg · 5y
FY21 -11%FY22 -185%FY23 -2102%FY24 —FY25 966%

It earned about -333% 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
−100% shares · 5y

Share count is down 100% over 5 years — management has been buying back stock, quietly handing owners a bigger slice. Total debt has fallen 18% — 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 v0.6.0

The 2 estimate methods that apply put fair value between $469.03 and $11,292.84 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a conservative ceiling on what a defensive investor should pay, not a target.

DCF · Growth Exit 10Y
$11,292.84
assumptions (10)
  • Risk-free rate (10Y Treasury)5.00%
  • Equity risk premium5.00%
  • Beta (β)1.00
  • Equity share of capital85.0%
  • Debt spread over risk-free1.50%
  • Tax rate21.0%
  • Terminal growth2.50%
  • Projection period10 years
  • FCF growth18.7%
  • Starting free cash flow$1.41M
DCF · Growth Exit 5Y
$469.03
assumptions (10)
  • Risk-free rate (10Y Treasury)5.00%
  • Equity risk premium5.00%
  • Beta (β)1.00
  • Equity share of capital85.0%
  • Debt spread over risk-free1.50%
  • Tax rate21.0%
  • Terminal growth2.50%
  • Projection period5 years
  • FCF growth18.7%
  • Starting free cash flow$1.41M
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
$1.47
assumptions (1)
  • Graham multiplier (P/E × P/B)22.5×

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 years18.7%
Discount rate (WACC)9.27%
Terminal growth2.5%
At your growth, a share is worth $469.03
The three cases
Bear0.0%−$7,473.33
Base18.7%$469.03
Bull20.0%$1,232.66

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

Default growth 18.7%= 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.

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Sources — the receipts
  1. 10-K filed 2023-04-14 · period ending 2021-12-31 · accession 0000950170-23-012916 (Revenues)
  2. 10-K filed 2024-04-01 · period ending 2022-12-31 · accession 0000950170-24-039414 (Revenues)
  3. 10-K filed 2025-03-31 · period ending 2023-12-31 · accession 0000950170-25-047742 (Revenues)
  4. 10-K filed 2026-04-02 · periods ending 2024-12-31, 2025-12-31 · accession 0001193125-26-140347 (Revenues)
  5. 10-K filed 2023-04-14 · period ending 2021-12-31 · accession 0000950170-23-012916 (NetIncomeLoss)
  6. 10-K filed 2024-04-01 · periods ending 2022-12-31, 2023-12-31 · accession 0000950170-24-039414 (NetIncomeLoss)
  7. 10-K filed 2026-04-02 · periods ending 2024-12-31, 2025-12-31 · accession 0001193125-26-140347 (ProfitLoss)
  8. 10-K filed 2023-04-14 · period ending 2021-12-31 · accession 0000950170-23-012916 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K filed 2024-04-01 · period ending 2022-12-31 · accession 0000950170-24-039414 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K filed 2025-03-31 · period ending 2023-12-31 · accession 0000950170-25-047742 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K filed 2026-04-02 · periods ending 2024-12-31, 2025-12-31 · accession 0001193125-26-140347 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K filed 2023-04-14 · period ending 2021-12-31 · accession 0000950170-23-012916 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K filed 2024-04-01 · period ending 2022-12-31 · accession 0000950170-24-039414 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K filed 2025-03-31 · period ending 2023-12-31 · accession 0000950170-25-047742 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K filed 2026-04-02 · periods ending 2024-12-31, 2025-12-31 · accession 0001193125-26-140347 (PaymentsToAcquirePropertyPlantAndEquipment)
  16. 10-K filed 2022-02-22 · period ending 2021-12-31 · accession 0001564590-22-005755 (LongTermDebt)
  17. 10-K filed 2023-04-14 · period ending 2022-12-31 · accession 0000950170-23-012916 (LongTermDebt)
  18. 10-K filed 2024-04-01 · period ending 2023-12-31 · accession 0000950170-24-039414 (LongTermDebt)
  19. 10-K filed 2026-04-02 · periods ending 2024-12-31, 2025-12-31 · accession 0001193125-26-140347 (LongTermDebt)
  20. 10-K filed 2022-02-22 · period ending 2021-12-31 · accession 0001564590-22-005755 (CashAndCashEquivalentsAtCarryingValue)
  21. 10-K filed 2023-04-14 · period ending 2022-12-31 · accession 0000950170-23-012916 (CashAndCashEquivalentsAtCarryingValue)
  22. 10-K filed 2024-04-01 · period ending 2023-12-31 · accession 0000950170-24-039414 (CashAndCashEquivalentsAtCarryingValue)
  23. 10-K filed 2025-03-31 · period ending 2024-12-31 · accession 0000950170-25-047742 (CashAndCashEquivalentsAtCarryingValue)
  24. 10-K filed 2026-04-02 · period ending 2025-12-31 · accession 0001193125-26-140347 (CashAndCashEquivalentsAtCarryingValue)