MeritValue

REST EZ Inc.

RTEZdata completeness 75%5 fiscal years on file

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

The thesis, from the filings

REST EZ Inc. earns about -1282% on equity, but has diluted owners by 38% over 5 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 2021FY 2022FY 2023FY 2024FY 2025
Revenue$105,0001$519,4432$03$5,0004$04
Net income−$23,2225$171,9716−$428,7067−$19,3867−$7,9007
Operating cash flow$12,2648−$77,3089−$13,31210−$103,14911−$44,70511
Capital expenditure—————
Free cash flow (derived)—————
Total debt—————
Cash & equivalents$12,35012$43113$4414$015$30015
Diluted shares20.0M20.0M20.0M20.0M27.5M

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
your share of equity
Profit it earned you last year
−$0
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on $0 of net worth that earned you −$0 last year.

iii. Is this a good business?
Moat signal · return on equity
-1282% avg · 5y
FY21 —FY22 69%FY23 —FY24 —FY25 -2633%

It earned an average -1282% on equity over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
+38% shares · 5y

Share count is up 38% over 5 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 0 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 0 years of FCF (need ≥3) — model not applicable
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 2021-03-31 · accession 0001185185-22-000827 (Revenues)
  2. 10-K/A · period ending 2022-03-31 · accession 0001185185-23-000966 (Revenues)
  3. 10-K · period ending 2023-03-31 · accession 0001185185-25-000130 (Revenues)
  4. 10-K · period ending 2024-03-31 · accession 0001185185-25-002060 (Revenues)
  5. 10-K · period ending 2021-03-31 · accession 0001185185-22-000827 (NetIncomeLoss)
  6. 10-K · period ending 2022-03-31 · accession 0001185185-25-000130 (NetIncomeLoss)
  7. 10-K · period ending 2023-03-31 · accession 0001185185-25-002060 (NetIncomeLoss)
  8. 10-K · period ending 2021-03-31 · accession 0001185185-22-000827 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K/A · period ending 2022-03-31 · accession 0001185185-23-000966 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2023-03-31 · accession 0001185185-25-000130 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2024-03-31 · accession 0001185185-25-002060 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2021-03-31 · accession 0001185185-22-000827 (CashAndCashEquivalentsAtCarryingValue)
  13. 10-K/A · period ending 2022-03-31 · accession 0001185185-23-000966 (CashAndCashEquivalentsAtCarryingValue)
  14. 10-K · period ending 2023-03-31 · accession 0001185185-25-000130 (CashAndCashEquivalentsAtCarryingValue)
  15. 10-K · period ending 2024-03-31 · accession 0001185185-25-002060 (CashAndCashEquivalentsAtCarryingValue)