MeritValue

U-BX Technology Ltd.

UBXGdata completeness 88%4 fiscal years on file

Data notes: no data for concept 'interestExpense'

The thesis, from the filings

U-BX Technology Ltd. earns about -17% on invested capital, and has bought back 68% of its shares over 4 years. 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 2022FY 2023FY 2024FY 2025
Revenue$86.7M1$94.3M2$51.6M2$29.7M2
Net income−$49,0223$205,9114−$748,5424−$2.72M4
Operating cash flow$363,0745−$283,1596−$1.35M6−$2.82M6
Capital expenditure$2,9347$2,6467$12,7667—
Free cash flow (derived)$360,1405−$285,8056−$1.37M6—
Total debt—$138,3938$701,5779$389,7419
Cash & equivalents$1.52M10$1.29M10$4.83M10$11.2M10
Diluted shares23.1M1.5M1.6M7.3M

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
$26.07
your share of equity
Profit it earned you last year
−$3.73
Free cash flow it threw off
—
Debt you’d be carrying
$0.53

10 shares is a claim on $26.07 of net worth that earned you −$3.73 last year, against $0.53 of debt.

iii. Is this a good business?
Moat signal · return on invested capital
-17% avg · 4y
FY22 —FY23 —FY24 -5%FY25 -28%

It earned an average -17% 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
−68% shares · 4y

Share count is down 68% over 4 years — management has been buying back stock, quietly handing owners a bigger slice. Total debt has risen 182% 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
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 2022-06-30 · accession 0001213900-24-092312 (Revenues)
  2. 20-F · period ending 2023-06-30 · accession 0001213900-25-102251 (Revenues)
  3. 20-F · period ending 2022-06-30 · accession 0001213900-24-092312 (NetIncomeLoss)
  4. 20-F · period ending 2023-06-30 · accession 0001213900-25-102251 (NetIncomeLoss)
  5. 20-F · period ending 2022-06-30 · accession 0001213900-24-092312 (NetCashProvidedByUsedInOperatingActivities)
  6. 20-F · period ending 2023-06-30 · accession 0001213900-25-102251 (NetCashProvidedByUsedInOperatingActivities)
  7. 20-F · period ending 2022-06-30 · accession 0001213900-24-092312 (PaymentsToAcquirePropertyPlantAndEquipment)
  8. 20-F · period ending 2023-06-30 · accession 0001213900-24-092312 (ShortTermBorrowings)
  9. 20-F · period ending 2024-06-30 · accession 0001213900-25-102251 (ShortTermBorrowings)
  10. 20-F · period ending 2022-06-30 · accession 0001213900-25-102251 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)