Rise Gold Corp.

RYESdata completeness 63%15 fiscal years on file

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

The thesis, from the filings

Rise Gold Corp. earns about -97% on equity, but has diluted owners by 140% 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

Figure	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Revenue	—	—	—	—	—
Net income	−$1.6M¹	−$3.46M²	−$3.66M³	−$3.57M⁴	−$3.26M⁴
Operating cash flow	−$2.85M⁵	−$2.69M⁶	−$2.48M⁷	−$2.21M⁸	−$1.17M⁸
Capital expenditure	—	—	—	—	—
Free cash flow (derived)	—	—	—	—	—
Total debt	—	—	—	—	—
Cash & equivalents	$773,279⁹	$471,918⁹	$758,272¹⁰	$243,669¹⁰	$2.78M¹⁰
Diluted shares	26.7M	29.8M	36.4M	47.0M	64.1M

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

$0.51

your share of equity

Profit it earned you last year

−$0.51

Free cash flow it threw off

—

Debt you’d be carrying

—

10 shares is a claim on $0.51 of net worth that earned you −$0.51 last year.

iii. Is this a good business?

Moat signal · return on equity

-97% avg · 5y

FY21 -38%FY22 -96%FY23 -102%FY24 -150%FY25 -100%

It earned an average -97% 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

+140% shares · 5y

Share count is up 140% 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

10-K · period ending 2021-07-31 · accession 0001062993-22-021269 (NetIncomeLoss)
10-K · period ending 2022-07-31 · accession 0001062993-23-019828 (NetIncomeLoss)
10-K · period ending 2023-07-31 · accession 0001062993-24-018073 (NetIncomeLoss)
10-K · period ending 2024-07-31 · accession 0001062993-25-016364 (NetIncomeLoss)
10-K · period ending 2021-07-31 · accession 0001062993-22-021269 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2022-07-31 · accession 0001062993-23-019828 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2023-07-31 · accession 0001062993-24-018073 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2024-07-31 · accession 0001062993-25-016364 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2021-07-31 · accession 0001062993-22-021269 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2023-07-31 · accession 0001062993-25-016364 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)