Sunrise Realty Trust, Inc.

SUNSdata completeness 75%2 fiscal years on file

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

The thesis, from the filings

Sunrise Realty Trust, Inc. earns about 7% on invested capital, but has diluted owners by 87% over 2 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 2024	FY 2025
Revenue	$10.6M¹	$21.6M¹
Net income	$6.87M²	$12.1M²
Operating cash flow	$1.64M³	−$3.43M³
Capital expenditure	—	—
Free cash flow (derived)	—	—
Total debt	—	—
Cash & equivalents	$184.6M⁴	$6.45M⁴
Diluted shares	6.8M	12.8M

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

Net assets behind them

$142.44

your share of equity

Profit it earned you last year

$9.51

Free cash flow it threw off

—

Debt you’d be carrying

—

10 shares is a claim on $142.44 of net worth that earned you $9.51 last year.

iii. Is this a good business?

Moat signal · return on invested capital

7% avg · 2y

FY24 —FY25 7%

It earned an average 7% on invested capital over 2 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →

Management signal · capital allocation

+87% shares · 2y

Share count is up 87% over 2 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

only 0 years of FCF (need ≥3) — model not applicable

DCF · Growth Exit 5Y

not applicable

only 0 years of FCF (need ≥3) — model not applicable

Earnings Power Value

not applicable

only 2 years of net income (need ≥3)

Graham Number

$17.26

assumptions (1)

grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

Sources — the receipts

10-K · period ending 2024-12-31 · accession 0001628280-26-017017 (RevenueFromContractWithCustomerExcludingAssessedTax)
10-K · period ending 2024-12-31 · accession 0001628280-26-017017 (NetIncomeLoss)
10-K · period ending 2024-12-31 · accession 0001628280-26-017017 (NetCashProvidedByUsedInOperatingActivities)
10-K · period ending 2024-12-31 · accession 0001628280-26-017017 (CashAndCashEquivalentsAtCarryingValue)