MeritValue

Silynxcom Ltd.

SYNXdata completeness 88%4 fiscal years on file

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

The thesis, from the filings

Silynxcom Ltd. earns about 11% on invested capital, but has diluted owners by 67% over 4 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
FigureFY 2021FY 2022FY 2023FY 2024
Revenue$9.58M1$7.26M2$7.63M2$9.09M2
Net income−$153,0003$1.8M4−$2.82M4−$2.35M4
Operating cash flow$1.62M5−$1.74M6$730,0006−$958,0006
Capital expenditure$116,0007$8,0008$3,0008$112,0008
Free cash flow (derived)$1.5M5−$1.75M6$727,0006−$1.07M6
Total debt————
Cash & equivalents$1.56M9$69,0009$568,0009$3.18M9
Diluted shares3.2M3.2M3.2M5.3M

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
$10.49
your share of equity
Profit it earned you last year
−$4.44
Free cash flow it threw off
−$2.02
Debt you’d be carrying
—

10 shares is a claim on $10.49 of net worth that earned you −$4.44 and generated −$2.02 of cash last year.

iii. Is this a good business?
Moat signal · return on invested capital
11% avg · 4y
FY21 —FY22 247%FY23 -135%FY24 -78%

It earned an average 11% on invested capital over 4 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
+67% shares · 4y

Share count is up 67% over 4 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
not applicable
diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 20-F · period ending 2021-12-31 · accession 0001213900-24-037798 (Revenue)
  2. 20-F · period ending 2022-12-31 · accession 0001213900-25-042784 (Revenue)
  3. 20-F · period ending 2021-12-31 · accession 0001213900-24-037798 (ProfitLoss)
  4. 20-F · period ending 2022-12-31 · accession 0001213900-25-042784 (ProfitLoss)
  5. 20-F · period ending 2021-12-31 · accession 0001213900-24-037798 (CashFlowsFromUsedInOperatingActivities)
  6. 20-F · period ending 2022-12-31 · accession 0001213900-25-042784 (CashFlowsFromUsedInOperatingActivities)
  7. 20-F · period ending 2021-12-31 · accession 0001213900-24-037798 (PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities)
  8. 20-F · period ending 2022-12-31 · accession 0001213900-25-042784 (PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities)
  9. 20-F · period ending 2021-12-31 · accession 0001213900-25-042784 (CashAndCashEquivalents)