YD Bio Ltd

YDESdata completeness 88%3 fiscal years on file

Data notes: no data for concept 'totalDebt'; no data for concept 'interestExpense'

The thesis, from the filings

YD Bio Ltd earns about 19% on equity, but has diluted owners by 3% over 3 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

Figure	FY 2023	FY 2024	FY 2025
Revenue	$350,131¹	$510,360¹	$596,817¹
Net income	$13,560²	−$1.41M²	−$8.31M²
Operating cash flow	−$55,657³	−$1.22M³	−$6.6M³
Capital expenditure	$290⁴	$74,914⁴	$1.44M⁴
Free cash flow (derived)	−$55,947³	−$1.3M³	−$8.04M³
Total debt	—	—	—
Cash & equivalents	$87,098⁵	$3.13M⁶	$6.01M⁶
Diluted shares	64.7M	64.7M	66.7M

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

Net assets behind them

−$0.43

your share of equity

Profit it earned you last year

−$1.25

Free cash flow it threw off

−$1.2

Debt you’d be carrying

—

10 shares is a claim on −$0.43 of net worth that earned you −$1.25 and generated −$1.2 of cash last year.

iii. Is this a good business?

Moat signal · return on equity

19% avg · 3y

FY23 59%FY24 -21%FY25 —

It earned an average 19% on equity over 3 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →

Management signal · capital allocation

+3% shares · 3y

Share count is up 3% over 3 years — owners have been diluted. Worth asking what they got for it.

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

20-F · period ending 2023-12-31 · accession 0001213900-26-050282 (Revenues)
20-F · period ending 2023-12-31 · accession 0001213900-26-050282 (NetIncomeLoss)
20-F · period ending 2023-12-31 · accession 0001213900-26-050282 (NetCashProvidedByUsedInOperatingActivities)
20-F · period ending 2023-12-31 · accession 0001213900-26-050282 (PaymentsToAcquirePropertyPlantAndEquipment)
20-F · period ending 2023-12-31 · accession 0001213900-26-050282 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
20-F · period ending 2024-12-31 · accession 0001213900-26-050282 (CashAndCashEquivalentsAtCarryingValue)