MeritValue

Translational Development Acquisition Corp.

TDACdata completeness 50%3 fiscal years on file

Data notes: no data for concept 'revenue'; no data for concept 'capex'; no data for concept 'totalDebt'; no data for concept 'investmentsAtFairValue'; no data for concept 'netInvestmentIncome'; no data for concept 'depreciationAmortization'; no data for concept 'gainsOnRealEstateSales'; no data for concept 'realEstateImpairment'; no data for concept 'dividendsPaid'; no data for concept 'epsDiluted'; no data for concept 'interestExpense'; no data for concept 'pretaxIncome'

i. The business — what you’d actually own
FigureFY 2023FY 2024FY 2025
Revenue———
Net income−$485,5501−$71,0122$6.36M2
Operating cash flow−$2043−$851,4464−$608,3874
Capital expenditure———
Free cash flow (derived)———
Total debt———
Cash & equivalents$2,0215$438,1746$29,7876
Diluted shares00—

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

iii. Is this a good business?
Moat signal · return on equity
— avg · 3y

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

seeing a moat in the numbers →
Management signal · capital allocation
— shares · 3y

Not enough history to read capital allocation.

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
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
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 2023-12-31 · accession 0001410578-25-000576 (NetIncomeLoss)
  2. 10-K · period ending 2024-12-31 · accession 0001104659-26-036811 (NetIncomeLoss)
  3. 10-K · period ending 2023-12-31 · accession 0001410578-25-000576 (NetCashProvidedByUsedInOperatingActivities)
  4. 10-K · period ending 2024-12-31 · accession 0001104659-26-036811 (NetCashProvidedByUsedInOperatingActivities)
  5. 10-K · period ending 2023-12-31 · accession 0001410578-25-000576 (CashAndCashEquivalentsAtCarryingValue)
  6. 10-K · period ending 2024-12-31 · accession 0001104659-26-036811 (CashAndCashEquivalentsAtCarryingValue)