MeritValue

Zhanling International Ltd

ZLMEdata completeness 50%17 fiscal years on file

Data notes: no data for concept 'revenue'; no data for concept 'capex'; no data for concept 'cash'; no data for concept 'totalDebt'; no data for concept 'investmentsAtFairValue'; no data for concept 'netInvestmentIncome'; no data for concept 'depreciationAmortization'; no data for concept 'gainsOnRealEstateSales'; no data for concept 'realEstateImpairment'; no data for concept 'dividendsPaid'; no data for concept 'incomeTaxExpense'

i. The business — what you’d actually own
FigureFY 2022FY 2023FY 2024FY 2025FY 2026
Revenue—————
Net income−$40,3251−$29,2831−$30,8652−$39,8573−$38,4863
Operating cash flow−$27,5514−$37,8054−$39,1135−$35,9336−$41,3036
Capital expenditure—————
Free cash flow (derived)—————
Total debt—————
Cash & equivalents—————
Diluted shares73,20073,20073,20073,2003.3M

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
−$0.16
your share of equity
Profit it earned you last year
−$0.12
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on −$0.16 of net worth that earned you −$0.12 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
+4361% shares · 5y

Share count is up 4361% over 5 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 v0.5.0
DCF · Growth Exit 10Y
not applicable
only 0 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 0 years of FCF (need ≥3) — model not applicable
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 2022-12-31 · accession 0001493152-24-011726 (NetIncomeLoss)
  2. 10-K · period ending 2024-05-31 · accession 0001641172-25-025006 (NetIncomeLoss)
  3. 10-K · period ending 2025-05-31 · accession 0001493152-26-036752 (NetIncomeLoss)
  4. 10-K · period ending 2022-12-31 · accession 0001493152-24-011726 (NetCashProvidedByUsedInOperatingActivities)
  5. 10-K · period ending 2024-05-31 · accession 0001641172-25-025006 (NetCashProvidedByUsedInOperatingActivities)
  6. 10-K · period ending 2025-05-31 · accession 0001493152-26-036752 (NetCashProvidedByUsedInOperatingActivities)