Ruanyun Edai Technology Inc.

RYETdata completeness 88%2 fiscal years on file

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

The thesis, from the filings

Ruanyun Edai Technology Inc. earns about -835% on equity, with a roughly flat share count. 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 2024	FY 2025
Revenue	$9.15M¹	$6.69M¹
Net income	−$2.01M²	−$396,562²
Operating cash flow	−$799,447³	−$1.82M³
Capital expenditure	$4,395⁴	$144,366⁴
Free cash flow (derived)	−$803,842³	−$1.96M³
Total debt	—	—
Cash & equivalents	$1.23M⁵	$798,958⁵
Diluted shares	30.0M	30.0M

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

−$0.05

your share of equity

Profit it earned you last year

−$0.13

Free cash flow it threw off

−$0.65

Debt you’d be carrying

—

10 shares is a claim on −$0.05 of net worth that earned you −$0.13 and generated −$0.65 of cash last year.

iii. Is this a good business?

Moat signal · return on equity

-835% avg · 2y

FY24 -835%FY25 —

It earned an average -835% on equity over 2 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →

Management signal · capital allocation

−0% shares · 2y

Share count is roughly flat over 2 years — little dilution, little buyback.

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 2 years of FCF (need ≥3) — model not applicable

DCF · Growth Exit 5Y

not applicable

only 2 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

20-F · period ending 2024-03-31 · accession 0001731122-25-001057 (Revenues)
20-F · period ending 2024-03-31 · accession 0001731122-25-001057 (NetIncomeLoss)
20-F · period ending 2024-03-31 · accession 0001731122-25-001057 (NetCashProvidedByUsedInOperatingActivities)
20-F · period ending 2024-03-31 · accession 0001731122-25-001057 (PaymentsToAcquirePropertyPlantAndEquipment)
20-F · period ending 2024-03-31 · accession 0001731122-25-001057 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)