MeritValue

YUNHONG GREEN CTI LTD.

YHGJdata completeness 75%16 fiscal years on file
The thesis, from the filings

YUNHONG GREEN CTI LTD. earns about -12% on invested capital, and has bought back 55% of its shares over 5 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 2021FY 2022FY 2023FY 2024FY 2025
Revenue$24.1M1$18M2$17.8M3$18M4$19.7M4
Net income−$8.27M5−$1.47M6−$235,0007−$1.5M8−$2.53M8
Operating cash flow−$3.71M9$2.37M10−$1.22M11−$1.27M12−$172,00012
Capital expenditure$122,00013$163,00014$221,00015$331,00015—
Free cash flow (derived)−$3.83M9$2.21M10−$1.44M11−$1.61M12—
Total debt$13.8M16$9.72M17$14M17——
Cash & equivalents$66,00018$146,00019$921,00020$220,00021$97,00021
Diluted shares5.9M9.3M19.5M2.3M2.7M

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
shares
Net assets behind them
$32.02
your share of equity
Profit it earned you last year
−$9.47
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on $32.02 of net worth that earned you −$9.47 last year.

iii. Is this a good business?
Moat signal · return on invested capital
-12% avg · 5y
FY21 -32%FY22 -7%FY23 2%FY24 —FY25 —

It earned an average -12% on invested capital over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
−55% shares · 5y

Share count is down 55% over 5 years — management has been buying back stock, quietly handing owners a bigger slice. Total debt has held roughly steady.

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 2021-12-31 · accession 0001493152-23-011960 (RevenueFromContractWithCustomerIncludingAssessedTax)
  2. 10-K · period ending 2022-12-31 · accession 0001493152-24-011910 (RevenueFromContractWithCustomerIncludingAssessedTax)
  3. 10-K · period ending 2023-12-31 · accession 0001641172-25-004622 (RevenueFromContractWithCustomerIncludingAssessedTax)
  4. 10-K · period ending 2024-12-31 · accession 0001493152-26-012156 (RevenueFromContractWithCustomerIncludingAssessedTax)
  5. 10-K · period ending 2021-12-31 · accession 0001493152-23-011960 (NetIncomeLoss)
  6. 10-K · period ending 2022-12-31 · accession 0001493152-24-011910 (NetIncomeLoss)
  7. 10-K · period ending 2023-12-31 · accession 0001641172-25-004622 (NetIncomeLoss)
  8. 10-K · period ending 2024-12-31 · accession 0001493152-26-012156 (NetIncomeLoss)
  9. 10-K · period ending 2021-12-31 · accession 0001493152-23-011960 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-12-31 · accession 0001493152-24-011910 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-12-31 · accession 0001641172-25-004622 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-12-31 · accession 0001493152-26-012156 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2021-12-31 · accession 0001493152-23-011960 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K · period ending 2022-12-31 · accession 0001493152-24-011910 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K · period ending 2023-12-31 · accession 0001641172-25-004622 (PaymentsToAcquirePropertyPlantAndEquipment)
  16. 10-K · period ending 2021-12-31 · accession 0001437749-22-009039 (LongTermDebtNoncurrent)
  17. 10-K · period ending 2022-12-31 · accession 0001493152-24-011910 (LongTermDebtNoncurrent)
  18. 10-K · period ending 2021-12-31 · accession 0001493152-23-011960 (CashAndCashEquivalentsAtCarryingValue)
  19. 10-K · period ending 2022-12-31 · accession 0001493152-24-011910 (CashAndCashEquivalentsAtCarryingValue)
  20. 10-K · period ending 2023-12-31 · accession 0001641172-25-004622 (CashAndCashEquivalentsAtCarryingValue)
  21. 10-K · period ending 2024-12-31 · accession 0001493152-26-012156 (CashAndCashEquivalentsAtCarryingValue)