MeritValue

Stemtech Corp

STEKdata completeness 100%17 fiscal years on file

Data notes: no data for concept 'investmentsAtFairValue'; no data for concept 'netInvestmentIncome'; no data for concept 'gainsOnRealEstateSales'; no data for concept 'realEstateImpairment'; no data for concept 'dividendsPaid'

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$4.32M1$4.56M2$4.92M3$5.05M4$2.88M4
Net income−$7.08M5−$8.54M6−$5.43M7−$3.77M7−$4.05M7
Operating cash flow−$1.91M8−$1.22M9−$2.04M10−$601,19811−$483,58311
Capital expenditure——$012$013$013
Free cash flow (derived)——−$2.04M10−$601,19811−$483,58311
Total debt—$929,13114$3.49M15$3.82M16$4.16M16
Cash & equivalents$828,20617$132,48717$114,16618$255,29818$238,24518
Diluted shares35.3M46.0M83.5M118.7M169.8M

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
−$0.41
your share of equity
Profit it earned you last year
−$0.24
Free cash flow it threw off
−$0.03
Debt you’d be carrying
$0.25

10 shares is a claim on −$0.41 of net worth that earned you −$0.24 and generated −$0.03 of cash last year, against $0.25 of debt.

iii. Is this a good business?
Moat signal · return on equity
— avg · 5y

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

seeing a moat in the numbers →
Management signal · capital allocation
+381% shares · 5y

Share count is up 381% over 5 years — owners have been diluted. Worth asking what they got for it. Total debt has risen 348% over the same window.

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 v0.5.0
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
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 0001683168-23-002487 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2022-12-31 · accession 0001683168-24-004736 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2023-12-31 · accession 0001683168-25-004834 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2024-12-31 · accession 0001683168-26-004395 (RevenueFromContractWithCustomerExcludingAssessedTax)
  5. 10-K · period ending 2021-12-31 · accession 0001683168-23-002487 (NetIncomeLoss)
  6. 10-K · period ending 2022-12-31 · accession 0001683168-24-004736 (NetIncomeLoss)
  7. 10-K · period ending 2023-12-31 · accession 0001683168-26-004395 (NetIncomeLoss)
  8. 10-K · period ending 2021-12-31 · accession 0001683168-23-002487 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2022-12-31 · accession 0001683168-24-004736 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2023-12-31 · accession 0001683168-25-004834 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2024-12-31 · accession 0001683168-26-004395 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2023-12-31 · accession 0001683168-25-004834 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K · period ending 2024-12-31 · accession 0001683168-26-004395 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K · period ending 2022-12-31 · accession 0001683168-24-004736 (LongTermDebt)
  15. 10-K · period ending 2023-12-31 · accession 0001683168-25-004834 (LongTermDebt)
  16. 10-K · period ending 2024-12-31 · accession 0001683168-26-004395 (LongTermDebt)
  17. 10-K · period ending 2021-12-31 · accession 0001683168-23-002487 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K · period ending 2023-12-31 · accession 0001683168-26-004395 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)