XBP Global Holdings, Inc.
XBPdata completeness 100%5 fiscal years on filei. The business — what you’d actually own
| Figure | FY 2021 | FY 2022 | FY 2023 | FY 2023 | FY 2024 |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | $872.7M1 |
| Net income | −$1.71M2 | −$7.93M3 | −$13.1M4 | −$11M4 | −$215.2M5 |
| Operating cash flow | — | $9.89M6 | — | −$1.54M7 | $23.3M8 |
| Capital expenditure | — | $6.37M9 | — | $2.33M10 | $6.29M11 |
| Free cash flow (derived) | — | $3.52M6 | — | −$3.87M7 | $17M8 |
| Total debt | — | $38.8M12 | — | $33.3M13 | $2.87B14 |
| Cash & equivalents | $2.91M15 | $7.47M16 | — | $6.54M17 | $11.6M18 |
| Diluted shares | — | 21.8M | — | 22.5M | 30.2M |
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
−$482.92
your share of equity
Profit it earned you last year
−$71.32
Free cash flow it threw off
$5.63
Debt you’d be carrying
$951.37
10 shares is a claim on −$482.92 of net worth that earned you −$71.32 and generated $5.63 of cash last year, against $951.37 of debt.
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
+38% shares · 5y
Share count is up 38% over 5 years — owners have been diluted. Worth asking what they got for it. Total debt has risen 7291% 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$3.52M
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$3.52M
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
not applicable
book value / share count missing or non-positive — Graham Number undefined
Different models answer different questions — which to trust when →
Sources — the receipts
- 10-K · period ending 2024-12-31 · accession 0001104659-26-037421 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2021-12-31 · accession 0001213900-23-024115 (NetIncomeLoss)
- 10-K · period ending 2022-12-31 · accession 0001558370-24-004558 (NetIncomeLoss)
- 10-K · period ending 2023-11-29 · accession 0001558370-25-003247 (NetIncomeLoss)
- 10-K · period ending 2024-12-31 · accession 0001104659-26-037421 (NetIncomeLoss)
- 10-K · period ending 2022-12-31 · accession 0001558370-24-004558 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-12-31 · accession 0001558370-25-003247 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2024-12-31 · accession 0001104659-26-037421 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-12-31 · accession 0001558370-24-004558 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2023-12-31 · accession 0001558370-25-003247 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2024-12-31 · accession 0001104659-26-037421 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2022-12-31 · accession 0001558370-24-004558 (LongTermDebtNoncurrent)
- 10-K · period ending 2023-12-31 · accession 0001558370-25-003247 (LongTermDebtNoncurrent)
- 10-K · period ending 2024-12-31 · accession 0001104659-26-037421 (LongTermDebtNoncurrent)
- 10-K · period ending 2021-12-31 · accession 0001558370-24-004558 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
- 10-K · period ending 2022-12-31 · accession 0001558370-24-004558 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2023-12-31 · accession 0001558370-25-003247 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2024-12-31 · accession 0001104659-26-037421 (CashAndCashEquivalentsAtCarryingValue)