MeritValue

SCANDIUM INTERNATIONAL MINING CORP.

SCYYFdata completeness 50%17 fiscal years on file

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

The thesis, from the filings

SCANDIUM INTERNATIONAL MINING CORP. earns about -161% on equity, but has diluted owners by 15% 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 2019FY 2020FY 2021FY 2022FY 2023
Revenue—————
Net income−$1.95M1−$1.39M2−$1.57M3$850,5964$47,2044
Operating cash flow−$1.13M5$81,9816−$374,2057−$947,7158−$830,7548
Capital expenditure$09————
Free cash flow (derived)−$1.13M5————
Total debt—————
Cash & equivalents—$170,28410$93,89410$1.85M10—
Diluted shares310.6M312.6M316.2M340.4M355.9M

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
$0.04
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 $0.04 of net worth that earned you $0 last year.

iii. Is this a good business?
Moat signal · return on equity
-161% avg · 5y
FY19 -564%FY20 —FY21 —FY22 78%FY23 3%

It earned an average -161% 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
+15% shares · 5y

Share count is up 15% 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 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
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 2019-12-31 · accession 0001654954-21-002194 (NetIncomeLoss)
  2. 10-K · period ending 2020-12-31 · accession 0001654954-22-003025 (NetIncomeLoss)
  3. 10-K · period ending 2021-12-31 · accession 0001654954-23-002495 (NetIncomeLoss)
  4. 10-K · period ending 2022-12-31 · accession 0001437749-24-010242 (NetIncomeLoss)
  5. 10-K · period ending 2019-12-31 · accession 0001654954-21-002194 (NetCashProvidedByUsedInOperatingActivities)
  6. 10-K · period ending 2020-12-31 · accession 0001654954-22-003025 (NetCashProvidedByUsedInOperatingActivities)
  7. 10-K · period ending 2021-12-31 · accession 0001654954-23-002495 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2022-12-31 · accession 0001437749-24-010242 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2019-12-31 · accession 0001654954-20-002062 (PaymentsToAcquirePropertyPlantAndEquipment)
  10. 10-K · period ending 2020-12-31 · accession 0001654954-23-002495 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)