MeritValue

Sensus Healthcare, Inc.

SRTSdata completeness 88%11 fiscal years on file

Data notes: no data for concept 'totalDebt'

The thesis, from the filings

Sensus Healthcare, Inc. earns about 25% on invested capital, with a roughly flat share count. The applicable estimate puts fair value near $2.61 a share.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$27M1$44.5M2$24.4M3$41.8M4$27.5M4
Net income$4.12M5$24.2M6$485,0007$6.65M8−$7.72M8
Operating cash flow−$286,0009−$1.41M10−$2.15M11−$831,00012$528,00012
Capital expenditure$128,00013$159,00014$229,00015$276,00016$196,00016
Free cash flow (derived)−$414,0009−$1.57M10−$2.37M11−$1.11M12$332,00012
Total debt—————
Cash & equivalents$14.5M17$25.5M18$23.1M19$22.1M20$22.1M20
Diluted shares16.5M16.6M16.3M16.4M16.3M

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
shares
Net assets behind them
$29.46
your share of equity
Profit it earned you last year
−$4.73
Free cash flow it threw off
$0.2
Debt you’d be carrying
—

10 shares is a claim on $29.46 of net worth that earned you −$4.73 and generated $0.2 of cash last year.

iii. Is this a good business?
Moat signal · return on invested capital
25% avg · 5y
FY21 28%FY22 106%FY23 -1%FY24 18%FY25 -27%

It earned an average 25% 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
−1% shares · 5y

Share count is roughly flat over 5 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
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
$2.61
assumptions (8)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$4.12M
  • growthAssumed0.0%
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 2021-12-31 · accession 0001213900-23-022355 (Revenues)
  2. 10-K · period ending 2022-12-31 · accession 0001213900-24-023093 (Revenues)
  3. 10-K · period ending 2023-12-31 · accession 0001753926-25-000408 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2024-12-31 · accession 0001753926-26-000435 (RevenueFromContractWithCustomerExcludingAssessedTax)
  5. 10-K · period ending 2021-12-31 · accession 0001213900-23-022355 (NetIncomeLoss)
  6. 10-K · period ending 2022-12-31 · accession 0001213900-24-023093 (NetIncomeLoss)
  7. 10-K · period ending 2023-12-31 · accession 0001753926-25-000408 (NetIncomeLoss)
  8. 10-K · period ending 2024-12-31 · accession 0001753926-26-000435 (NetIncomeLoss)
  9. 10-K · period ending 2021-12-31 · accession 0001213900-23-022355 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-12-31 · accession 0001213900-24-023093 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-12-31 · accession 0001753926-25-000408 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-12-31 · accession 0001753926-26-000435 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2021-12-31 · accession 0001213900-23-022355 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K · period ending 2022-12-31 · accession 0001213900-24-023093 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K · period ending 2023-12-31 · accession 0001753926-25-000408 (PaymentsToAcquirePropertyPlantAndEquipment)
  16. 10-K · period ending 2024-12-31 · accession 0001753926-26-000435 (PaymentsToAcquirePropertyPlantAndEquipment)
  17. 10-K · period ending 2021-12-31 · accession 0001213900-23-022355 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K · period ending 2022-12-31 · accession 0001213900-24-023093 (CashAndCashEquivalentsAtCarryingValue)
  19. 10-K · period ending 2023-12-31 · accession 0001753926-25-000408 (CashAndCashEquivalentsAtCarryingValue)
  20. 10-K · period ending 2024-12-31 · accession 0001753926-26-000435 (CashAndCashEquivalentsAtCarryingValue)