SpyGlass Pharma, Inc.

SGPdata completeness 75%2 fiscal years on file

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

i. The business — what you’d actually own

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

−$445.79

your share of equity

Profit it earned you last year

−$179.82

Free cash flow it threw off

−$151.05

Debt you’d be carrying

—

10 shares is a claim on −$445.79 of net worth that earned you −$179.82 and generated −$151.05 of cash last year.

iii. Is this a good business?

Moat signal · return on equity

— avg · 2y

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

Management signal · capital allocation

+24% shares · 2y

Share count is up 24% over 2 years — owners have been diluted. Worth asking what they got for it.

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