REVIVA PHARMACEUTICALS HOLDINGS, INC.

RVPHdata completeness 75%10 fiscal years on file

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

The thesis, from the filings

REVIVA PHARMACEUTICALS HOLDINGS, INC. earns about -993% on equity, and has bought back 75% of its shares over 5 years. 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

Figure	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Revenue	—	—	—	—	—
Net income	−$8.52M¹	−$28.3M²	−$39.3M³	−$29.9M⁴	−$19.9M⁴
Operating cash flow	−$10.7M⁵	−$19M⁶	−$28.3M⁷	−$33.5M⁸	−$24.6M⁸
Capital expenditure	—	—	—	—	—
Free cash flow (derived)	—	—	—	—	—
Total debt	—	—	$0⁹	$458,154¹⁰	$406,875¹⁰
Cash & equivalents	$29.7M¹¹	$18.5M¹²	$23.4M¹³	$13.5M¹⁴	$14.4M¹⁴
Diluted shares	14.8M	19.5M	23.8M	1.7M	3.6M

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

Net assets behind them

$23.84

your share of equity

Profit it earned you last year

−$54.76

Free cash flow it threw off

—

Debt you’d be carrying

$1.12

10 shares is a claim on $23.84 of net worth that earned you −$54.76 last year, against $1.12 of debt.

iii. Is this a good business?

Moat signal · return on equity

-993% avg · 5y

FY21 -30%FY22 -337%FY23 -687%FY24 -3682%FY25 -230%

It earned an average -993% 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

−75% shares · 5y

Share count is down 75% over 5 years — management has been buying back stock, quietly handing owners a bigger slice.

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

10-K · period ending 2021-12-31 · accession 0001437749-23-008502 (NetIncomeLoss)
10-K · period ending 2022-12-31 · accession 0001437749-24-011955 (NetIncomeLoss)
10-K · period ending 2023-12-31 · accession 0001437749-25-010791 (NetIncomeLoss)
10-K · period ending 2024-12-31 · accession 0001437749-26-010126 (NetIncomeLoss)
10-K · period ending 2021-12-31 · accession 0001437749-23-008502 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2022-12-31 · accession 0001437749-24-011955 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2023-12-31 · accession 0001437749-25-010791 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2024-12-31 · accession 0001437749-26-010126 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2023-12-31 · accession 0001437749-25-010791 (ShortTermBorrowings)
10-K · period ending 2024-12-31 · accession 0001437749-26-010126 (ShortTermBorrowings)
10-K · period ending 2021-12-31 · accession 0001437749-23-008502 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2022-12-31 · accession 0001437749-24-011955 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2023-12-31 · accession 0001437749-25-010791 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2024-12-31 · accession 0001437749-26-010126 (CashAndCashEquivalentsAtCarryingValue)