MeritValue

Roma Green Finance Ltd

ROMAdata completeness 75%2 fiscal years on file

Data notes: no data for concept 'totalDebt'; no data for concept 'interestExpense'

The thesis, from the filings

Roma Green Finance Ltd earns about -55% on invested capital, but has diluted owners by 68% over 2 years — worth asking whether the growth reaches owners. The cash-flow models don't apply cleanly here — the ledger says why below.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 2024FY 2025
Revenue$1.27M1$1.56M2
Net income−$748,7493−$3.56M4
Operating cash flow−$3.21M5−$1.61M6
Capital expenditure$7857—
Free cash flow (derived)−$3.21M5—
Total debt——
Cash & equivalents$5.53M8$2.68M9
Diluted shares8.1M13.6M

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
$4.58
your share of equity
Profit it earned you last year
−$2.61
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on $4.58 of net worth that earned you −$2.61 last year.

iii. Is this a good business?
Moat signal · return on invested capital
-55% avg · 2y
FY24 -31%FY25 -79%

It earned an average -55% on invested capital over 2 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
+68% shares · 2y

Share count is up 68% over 2 years — owners have been diluted. Worth asking what they got for it.

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
only 1 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 1 years of FCF (need ≥3) — model not applicable
Earnings Power Value
not applicable
only 2 years of net income (need ≥3)
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. 20-F · period ending 2024-03-31 · accession 0001493152-24-029903 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 20-F · period ending 2025-03-31 · accession 0001641172-25-021681 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 20-F · period ending 2024-03-31 · accession 0001493152-24-029903 (NetIncomeLoss)
  4. 20-F · period ending 2025-03-31 · accession 0001641172-25-021681 (NetIncomeLoss)
  5. 20-F · period ending 2024-03-31 · accession 0001493152-24-029903 (NetCashProvidedByUsedInOperatingActivities)
  6. 20-F · period ending 2025-03-31 · accession 0001641172-25-021681 (NetCashProvidedByUsedInOperatingActivities)
  7. 20-F · period ending 2024-03-31 · accession 0001493152-24-029903 (PaymentsToAcquirePropertyPlantAndEquipment)
  8. 20-F · period ending 2024-03-31 · accession 0001493152-24-029903 (CashAndCashEquivalentsAtCarryingValue)
  9. 20-F · period ending 2025-03-31 · accession 0001641172-25-021681 (CashAndCashEquivalentsAtCarryingValue)