MeritValue

Right On Brands, Inc.

RTONdata completeness 75%11 fiscal years on file
i. The business — what you’d actually own
FigureFY 2019FY 2020FY 2021FY 2022FY 2023
Revenue$255,8211$328,5802$77,9603$997,1004$1.14M5
Net income−$6.09M6−$3.48M7−$1.85M8−$257,0169$8,7269
Operating cash flow−$873,62310−$683,00011−$203,04112−$150,70313−$66,10713
Capital expenditure$18,00014$015$5,95315——
Free cash flow (derived)−$891,62310−$683,00011−$208,99412——
Total debt—$574,94116$705,27517——
Cash & equivalents$90,88318$67,15318$45,78019$28,05619$33,32219
Diluted shares66.8M—3.38B5.92B6.09B

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
— avg · 5y

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

seeing a moat in the numbers →
Management signal · capital allocation
+9027% shares · 5y

Share count is up 9027% over 5 years — owners have been diluted. Worth asking what they got for it. Total debt has risen 23% over the same window.

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 2019-03-31 · accession 0001477932-21-001972 (Revenues)
  2. 10-K · period ending 2020-03-31 · accession 0001477932-21-005151 (Revenues)
  3. 10-K · period ending 2021-03-31 · accession 0001477932-22-004928 (Revenues)
  4. 10-K · period ending 2022-03-31 · accession 0001477932-23-006220 (Revenues)
  5. 10-K · period ending 2023-03-31 · accession 0001477932-23-006220 (RevenueFromContractWithCustomerIncludingAssessedTax)
  6. 10-K · period ending 2019-03-31 · accession 0001477932-21-001972 (NetIncomeLoss)
  7. 10-K · period ending 2020-03-31 · accession 0001477932-21-005151 (NetIncomeLoss)
  8. 10-K · period ending 2021-03-31 · accession 0001477932-22-004928 (NetIncomeLoss)
  9. 10-K · period ending 2022-03-31 · accession 0001477932-23-006220 (NetIncomeLoss)
  10. 10-K · period ending 2019-03-31 · accession 0001477932-21-001972 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2020-03-31 · accession 0001477932-21-005151 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2021-03-31 · accession 0001477932-22-004928 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2022-03-31 · accession 0001477932-23-006220 (NetCashProvidedByUsedInOperatingActivities)
  14. 10-K · period ending 2019-03-31 · accession 0001477932-21-001972 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K · period ending 2020-03-31 · accession 0001477932-21-005151 (PaymentsToAcquirePropertyPlantAndEquipment)
  16. 10-K · period ending 2020-03-31 · accession 0001477932-21-001972 (LongTermDebt)
  17. 10-K · period ending 2021-03-31 · accession 0001477932-21-005151 (LongTermDebt)
  18. 10-K · period ending 2019-03-31 · accession 0001477932-21-001972 (CashAndCashEquivalentsAtCarryingValue)
  19. 10-K · period ending 2021-03-31 · accession 0001477932-23-006220 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)