Silexion Therapeutics Corp

SLXNdata completeness 88%3 fiscal years on file

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

The thesis, from the filings

Silexion Therapeutics Corp earns about -458% on equity, but has diluted owners by 1090% over 3 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 2023	FY 2024	FY 2025
Revenue	$153,000¹	$28,000²	$155,000²
Net income	−$5.11M³	−$16.5M⁴	−$11.9M⁴
Operating cash flow	−$4.53M⁵	−$8.4M⁶	−$10.8M⁶
Capital expenditure	$12,000⁷	$22,000⁸	$9,000⁸
Free cash flow (derived)	−$4.54M⁵	−$8.42M⁶	−$10.8M⁶
Total debt	—	—	—
Cash & equivalents	$4.6M⁹	$1.19M¹⁰	$5.99M¹⁰
Diluted shares	111,726	41,635	1.3M

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

$19.58

your share of equity

Profit it earned you last year

−$89.6

Free cash flow it threw off

−$81.44

Debt you’d be carrying

—

10 shares is a claim on $19.58 of net worth that earned you −$89.6 and generated −$81.44 of cash last year.

iii. Is this a good business?

Moat signal · return on equity

-458% avg · 3y

FY23 —FY24 —FY25 -458%

It earned an average -458% on equity over 3 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →

Management signal · capital allocation

+1090% shares · 3y

Share count is up 1090% over 3 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

3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)

DCF · Growth Exit 5Y

not applicable

3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)

Earnings Power Value

not applicable

normalized (5y-median) earnings non-positive — EPV undefined

Graham Number

$19.87

assumptions (1)

grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

Sources — the receipts

10-K · period ending 2023-12-31 · accession 0001178913-25-000887 (InterestAndDividendIncomeOperating)
10-K · period ending 2024-12-31 · accession 0001178913-26-000953 (InterestAndDividendIncomeOperating)
10-K · period ending 2023-12-31 · accession 0001178913-25-000887 (NetIncomeLoss)
10-K · period ending 2024-12-31 · accession 0001178913-26-000953 (NetIncomeLoss)
10-K · period ending 2023-12-31 · accession 0001178913-25-000887 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2024-12-31 · accession 0001178913-26-000953 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2023-12-31 · accession 0001178913-25-000887 (PaymentsToAcquirePropertyPlantAndEquipment)
10-K · period ending 2024-12-31 · accession 0001178913-26-000953 (PaymentsToAcquirePropertyPlantAndEquipment)
10-K · period ending 2023-12-31 · accession 0001178913-25-000887 (CashAndCashEquivalentsAtCarryingValue)
10-K · period ending 2024-12-31 · accession 0001178913-26-000953 (CashAndCashEquivalentsAtCarryingValue)