MeritValue

UPAY

UPYYdata completeness 88%11 fiscal years on file

Data notes: no data for concept 'totalDebt'

i. The business — what you’d actually own
FigureFY 2022FY 2023FY 2024FY 2025FY 2026
Revenue$1.46M1$1.36M2$1.39M3$715,2694$746,3114
Net income−$368,8515−$135,4876−$736,1917−$540,0628−$1.41M8
Operating cash flow$788,8189−$361,06610−$145,61111−$764,67412−$288,03912
Capital expenditure$4,09613$7,98714$24,09515$016$1,99316
Free cash flow (derived)$784,7229−$369,05310−$169,70611−$764,67412−$290,03212
Total debt—————
Cash & equivalents$1.16M17$662,99118$642,84619$55,36220$96,27920
Diluted shares23.9M17.2M16.8M16.2M17.3M

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
−$0.3
your share of equity
Profit it earned you last year
−$0.81
Free cash flow it threw off
−$0.17
Debt you’d be carrying
—

10 shares is a claim on −$0.3 of net worth that earned you −$0.81 and generated −$0.17 of cash last year.

iii. Is this a good business?
Moat signal · return on equity
— avg · 5y

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

seeing a moat in the numbers →
Management signal · capital allocation
−28% shares · 5y

Share count is down 28% over 5 years — management has been buying back stock, quietly handing owners a bigger slice.

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. 10-K · period ending 2022-02-28 · accession 0001575872-23-001038 (Revenues)
  2. 10-K/A · period ending 2023-02-28 · accession 0001575872-25-000047 (Revenues)
  3. 10-K · period ending 2024-02-29 · accession 0001575872-25-000377 (Revenues)
  4. 10-K · period ending 2025-02-28 · accession 0001575872-26-000390 (Revenues)
  5. 10-K · period ending 2022-02-28 · accession 0001575872-23-001038 (NetIncomeLoss)
  6. 10-K/A · period ending 2023-02-28 · accession 0001575872-25-000047 (NetIncomeLoss)
  7. 10-K · period ending 2024-02-29 · accession 0001575872-25-000377 (NetIncomeLoss)
  8. 10-K · period ending 2025-02-28 · accession 0001575872-26-000390 (NetIncomeLoss)
  9. 10-K · period ending 2022-02-28 · accession 0001575872-23-001038 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K/A · period ending 2023-02-28 · accession 0001575872-25-000047 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2024-02-29 · accession 0001575872-25-000377 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2025-02-28 · accession 0001575872-26-000390 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2022-02-28 · accession 0001575872-23-001038 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K/A · period ending 2023-02-28 · accession 0001575872-25-000047 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K · period ending 2024-02-29 · accession 0001575872-25-000377 (PaymentsToAcquirePropertyPlantAndEquipment)
  16. 10-K · period ending 2025-02-28 · accession 0001575872-26-000390 (PaymentsToAcquirePropertyPlantAndEquipment)
  17. 10-K · period ending 2022-02-28 · accession 0001575872-23-001038 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K/A · period ending 2023-02-28 · accession 0001575872-25-000047 (CashAndCashEquivalentsAtCarryingValue)
  19. 10-K · period ending 2024-02-29 · accession 0001575872-25-000377 (CashAndCashEquivalentsAtCarryingValue)
  20. 10-K · period ending 2025-02-28 · accession 0001575872-26-000390 (CashAndCashEquivalentsAtCarryingValue)