MeritValue

BLOOMIA HOLDINGS, INC.

TULPdata completeness 100%16 fiscal years on file
The thesis, from the filings

BLOOMIA HOLDINGS, INC. earns about -30% on equity, but has diluted owners by 2% over 5 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 2020FY 2021FY 2022FY 2023FY 2024
Revenue$17.5M1$19.5M2$18.8M2—$37.8M3
Net income−$4.62M4−$3.53M5$10M6$2.41M7−$5.74M7
Operating cash flow−$1.58M8−$3M9$10.7M10$518,00011−$4.05M11
Capital expenditure$61,00012$106,00013$014$39,00015$1.17M15
Free cash flow (derived)−$1.64M8−$3.11M9$10.7M10$479,00011−$5.22M11
Total debt$1.05M16$017——$40.3M18
Cash & equivalents$7.13M19$3.85M20$14.5M21$16.1M21$1.76M21
Diluted shares1.7M1.8M1.8M1.8M1.8M

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
$55.59
your share of equity
Profit it earned you last year
−$32.45
Free cash flow it threw off
−$29.5
Debt you’d be carrying
$227.92

10 shares is a claim on $55.59 of net worth that earned you −$32.45 and generated −$29.5 of cash last year, against $227.92 of debt.

iii. Is this a good business?
Moat signal · return on equity
-30% avg · 5y
FY20 -69%FY21 -111%FY22 75%FY23 16%FY24 -58%

It earned an average -30% on equity over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
+2% shares · 5y

Share count is up 2% over 5 years — owners have been diluted. Worth asking what they got for it. Total debt has risen 3727% 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 v0.1.0
DCF · Growth Exit 10Y
not applicable
negative equity value — refusing to publish per-share figure
assumptions (10)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth5.0%
  • fcfBase$479,000
DCF · Growth Exit 5Y
not applicable
negative equity value — refusing to publish per-share figure
assumptions (10)
  • riskFreeRate4.7%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth5.0%
  • fcfBase$479,000
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 2020-12-31 · accession 0001654954-22-002804 (Revenues)
  2. 10-K · period ending 2021-12-31 · accession 0001654954-23-002601 (Revenues)
  3. 10-K · period ending 2024-12-31 · accession 0001558370-25-003816 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2020-12-31 · accession 0001654954-22-002804 (NetIncomeLoss)
  5. 10-K · period ending 2021-12-31 · accession 0001654954-23-002601 (NetIncomeLoss)
  6. 10-K · period ending 2022-12-31 · accession 0001654954-24-004013 (NetIncomeLoss)
  7. 10-K · period ending 2023-12-31 · accession 0001558370-25-003816 (NetIncomeLoss)
  8. 10-K · period ending 2020-12-31 · accession 0001654954-22-002804 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2021-12-31 · accession 0001654954-23-002601 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-12-31 · accession 0001654954-24-004013 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-12-31 · accession 0001558370-25-003816 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2020-12-31 · accession 0001654954-22-002804 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K · period ending 2021-12-31 · accession 0001654954-23-002601 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K · period ending 2022-12-31 · accession 0001654954-24-004013 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K · period ending 2023-12-31 · accession 0001558370-25-003816 (PaymentsToAcquirePropertyPlantAndEquipment)
  16. 10-K/A · period ending 2020-12-31 · accession 0001654954-21-009347 (LongTermDebtNoncurrent)
  17. 10-K · period ending 2021-12-31 · accession 0001654954-22-002804 (LongTermDebtCurrent)
  18. 10-K · period ending 2024-12-31 · accession 0001558370-25-003816 (LongTermDebtCurrent)
  19. 10-K/A · period ending 2020-12-31 · accession 0001654954-21-009347 (CashAndCashEquivalentsAtCarryingValue)
  20. 10-K · period ending 2021-12-31 · accession 0001654954-24-004013 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  21. 10-K · period ending 2022-12-31 · accession 0001558370-25-003816 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)