MeritValue

SOBR Safe, Inc.

SOBRdata completeness 88%15 fiscal years on file
The thesis, from the filings

SOBR Safe, Inc. earns about -1330% on invested capital, and has bought back 94% of its shares over 5 years. 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 2021FY 2022FY 2023FY 2024FY 2025
Revenue$01$35,3222$157,2923$212,7364$437,4214
Net income−$7.87M5−$12.4M6−$10.2M7−$8.61M8−$8.95M8
Operating cash flow−$3.69M9−$6.16M10−$5.93M11−$6.52M12−$6.96M12
Capital expenditure———$013$38,17213
Free cash flow (derived)———−$6.52M12−$7M12
Total debt—$014$2.37M14$127,59015—
Cash & equivalents$882,26816$8.58M17$2.79M18$8.38M18$4.76M18
Diluted shares26.0M17.0M16,49861,3421.5M

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
$33.87
your share of equity
Profit it earned you last year
−$60.89
Free cash flow it threw off
−$47.59
Debt you’d be carrying
—

10 shares is a claim on $33.87 of net worth that earned you −$60.89 and generated −$47.59 of cash last year.

iii. Is this a good business?
Moat signal · return on invested capital
-1330% avg · 5y
FY21 —FY22 -1244%FY23 -460%FY24 -403%FY25 -3213%

It earned an average -1330% on invested capital over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
−94% shares · 5y

Share count is down 94% over 5 years — management has been buying back stock, quietly handing owners a bigger slice.

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
$21.6
assumptions (1)
  • grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K · period ending 2021-12-31 · accession 0001477932-23-002085 (Revenues)
  2. 10-K · period ending 2022-12-31 · accession 0001477932-24-001629 (Revenues)
  3. 10-K · period ending 2023-12-31 · accession 0001477932-25-002746 (Revenues)
  4. 10-K · period ending 2024-12-31 · accession 0001477932-26-002117 (Revenues)
  5. 10-K · period ending 2021-12-31 · accession 0001477932-23-002085 (NetIncomeLoss)
  6. 10-K · period ending 2022-12-31 · accession 0001477932-24-001629 (NetIncomeLoss)
  7. 10-K · period ending 2023-12-31 · accession 0001477932-25-002746 (NetIncomeLoss)
  8. 10-K · period ending 2024-12-31 · accession 0001477932-26-002117 (NetIncomeLoss)
  9. 10-K · period ending 2021-12-31 · accession 0001477932-23-002085 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-12-31 · accession 0001477932-24-001629 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-12-31 · accession 0001477932-25-002746 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-12-31 · accession 0001477932-26-002117 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2024-12-31 · accession 0001477932-26-002117 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K · period ending 2022-12-31 · accession 0001477932-24-001629 (LongTermDebtNoncurrent)
  15. 10-K · period ending 2024-12-31 · accession 0001477932-25-002746 (LongTermDebtCurrent)
  16. 10-K · period ending 2021-12-31 · accession 0001477932-22-001338 (CashAndCashEquivalentsAtCarryingValue)
  17. 10-K · period ending 2022-12-31 · accession 0001477932-25-002746 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  18. 10-K · period ending 2023-12-31 · accession 0001477932-26-002117 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)