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ValueScreener company report

Electrovaya Inc. (ELVA)

NASDAQ / Industrials / Electrical Equipment & Parts

Share price

5.07 USD Market dataClose of Oct 16, 2026

Market capitalisation

253.5M USD Market dataClose of Oct 16, 2026
Market data
Oct 16, 2026
Filed accounts
FY2023, filed Jan 16, 2024
Ratios computed
Oct 16, 2026
Filed years
2, FY2022 to FY2023
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on equity

-20.7% Computed

From the FY2023 filing

Read quality

Valuation

Price to book

35.47x Computed

FY2023 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

n/a Computed

FY2023 accounts, priced at the latest close

Why n/a

We do not hold this figure for this company, so there is nothing to show.

Read cash generation

Revenue and net income, by fiscal year

FY2014 Revenue: 7.4M USDFY2014 Net income: -3.4M USDFY2015 Revenue: 16.6M USDFY2015 Net income: -3.2M USDFY2016 Revenue: 19.5M USDFY2016 Net income: -8.8M USDFY2017 Revenue: 2.3M USDFY2017 Net income: -21.2M USDFY2018 Revenue: 5.6M USDFY2018 Net income: -22.7M USDFY2019 Revenue: 4.4M USDFY2019 Net income: -2.8M USDFY2020 Revenue: 13.7M USDFY2020 Net income: 1.1M USDFY2021 Revenue: 9.9M USDFY2021 Net income: -7.5M USDFY2022 Revenue: 16.3M USDFY2022 Net income: -9.2M USDFY2023 Revenue: 44.1M USDFY2023 Net income: -1.5M USD
Revenue Net income10 fiscal years; a year whose statement names no SEC filing is market data, and the table in Filings says which.
Named tests met
0 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it good

Return on equity was -20.7% in FY2023, in the band labelled "Likely below the cost of equity" (below 8.0%), on lines anchored on Damodaran's cost-of-capital data, suggesting returns on shareholders' money below the usual cost of equity.

Today, against the Electrical Equipment & Parts industry (42 companies), -20.7% sits at the 42nd percentile; the middle half of that group runs from -52.4% to 9.0%.

Is it safe

Current ratio was 0.97 in FY2023, in the band labelled "Short-term liabilities exceed short-term assets" (below 1.00), on lines anchored on Graham's defensive-investor criteria, suggesting short-term obligations above short-term assets.

Today, against the Electrical Equipment & Parts industry (48 companies), 0.97 sits at the 12th percentile; the middle half of that group runs from 1.55 to 4.92.

Year by year against peers
Whether Electrovaya Inc.'s gross margin stayed above the median of the Electrical Equipment & Parts industry, year by year. (FY2019 to FY2023, 5 fiscal years of Electrovaya Inc. with a comparable figure)
The direction
Which way Electrovaya Inc.'s gross margin has moved, and how steadily. (FY2014 to FY2023, 10 filed years of Electrovaya Inc.)
What could explain it
What in Electrovaya Inc.'s filed statements could explain the movements. (3 readings drawn from the statement lines Electrovaya Inc. filed)
What to check next
What to check next on Electrovaya Inc., and where in its filings. (3 questions for Electrovaya Inc.)
In one paragraph
One paragraph on Electrovaya Inc.'s returns, cash, balance sheet and price. (4 of sixteen figures read for Electrovaya Inc.)

These are ELVA’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research ELVAPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2023 annual report: 40-F, filed Jan 16, 2024, accession 0001654954-24-000631.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Electrovaya Inc: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax
Why n/a

The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.

n/a ComputedFY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
Return on equity-20.7% ComputedFY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
Return on capital employed, pre-tax
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
Return on assets-4.0% ComputedFY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
Gross margin26.9% ComputedFY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
Operating margin
Why n/a

No operating income line is filed for this year.

n/a ComputedFY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
Net margin-3.4% ComputedFY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
ELVA -3.4%
MVST -6.8%ESP 24.2%SKYX -36.3%OESX -3.7%ULBI -3.1%
-36.3%24.2%
Net margin: ELVA against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Electrovaya Inc: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity
Why n/a

The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.

n/a ComputedFY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
Current ratio0.97 ComputedFY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
Quick ratio0.66 ComputedFY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
Interest coverage
Why n/a

No operating income line is filed for this year.

n/a ComputedFY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
Altman Z-score
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 16, 2026 · FY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
Net debt
Why n/a

The FY2023 balance sheet carries no net debt we could read.

n/a ComputedFY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
Total assets 36.5MTotal liabilities 29.4MShareholders' equity 7.1MOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Electrovaya Inc owned and owed at the end of fiscal 2023, from the balance sheet it filed (40-F, filed Jan 16, 2024, 0001654954-24-000631).

Electrovaya Inc: balance sheet position
Total assets36.5M FiledFY2023 40-F, filed Jan 16, 2024
Total liabilities29.4M FiledFY2023 40-F, filed Jan 16, 2024
Shareholders' equity7.1M FiledFY2023 40-F, filed Jan 16, 2024
Cash1.0M FiledFY2023 40-F, filed Jan 16, 2024
Total debtn/a FiledFY2023 40-F, filed Jan 16, 2024
Net debtn/a
Current ratio0.97
Debt to equityn/a
  • Debt to equity: FY2023: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
  • Interest cover: FY2023: No operating income line is filed for this year.

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Electrovaya Inc: what the market charges, each with its source
FigureValue, source and document
Price to earnings
Why n/m

Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.

n/m ComputedClose of Oct 16, 2026 · FY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
P/E on trailing twelve months
Why n/a

A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

n/a ComputedClose of Oct 16, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book35.47x ComputedClose of Oct 16, 2026 · FY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
Price to sales5.75x ComputedClose of Oct 16, 2026 · FY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
Enterprise value to EBIT
Why n/a

The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.

n/a ComputedClose of Oct 16, 2026 · FY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
Enterprise value to EBITDA
Why n/a

The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.

n/a ComputedClose of Oct 16, 2026 · FY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
Price to earnings over growth
Why n/m

Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.

n/m ComputedClose of Oct 16, 2026 · FY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
Diluted earnings per share
Why n/a

The FY2023 filing carries no diluted earnings per share we could read.

n/a FiledFY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
Graham number
Why n/m

Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.

n/m ComputedFY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631

We publish no fair value or price target of our own. Value ELVA on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Electrovaya Inc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Electrovaya Inc: valuation
Share price5.07 USD
Market capitalisation253.5M USD
Enterprise value to EBITDAn/a
Graham numbern/m
Diluted earnings per share, FY2021n/a

Diluted earnings per share, FY2021: Filed before the 1-for-5 split on 16 Jun 2023, and the filing it was read from cannot be placed against it, so it is not put on today's share count and is not shown beside figures that are.

Price to earnings on trailing twelve months: A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

Companies like Electrovaya Inc

  1. Microvast Holdings, Inc. (MVST)Market cap 175.6M USD
  2. Espey Mfg. & Electronics Corp. (ESP)Market cap 168.8M USD
  3. SKYX Platforms Corp. (SKYX)Market cap 130.0M USD
  4. Orion Energy Systems, Inc. (OESX)Market cap 92.1M USD
  5. Ultralife Corporation (ULBI)Market cap 100.3M USD

Same industry (Electrical Equipment & Parts) and size band (Micro, 50M to 300M), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

Computed

Electrovaya Inc: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 16, 2026 · FY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
Free cash flow
Why n/a

The FY2023 filing carries no free cash flow we could read.

n/a ComputedFY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
Free cash flow margin
Why n/a

No free cash flow, and no operating cash flow and capital expenditure pair, is filed for this year.

n/a ComputedFY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
Dividend yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 16, 2026 · FY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
Payout ratio
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
FY2014 Free cash flow: -5.6M USDFY2014 Net income: -3.4M USDFY2015 Free cash flow: 334.0K USDFY2015 Net income: -3.2M USDFY2016 Free cash flow: -8.7M USDFY2016 Net income: -8.8M USDFY2017 Free cash flow: -19.2M USDFY2017 Net income: -21.2M USDFY2018 Free cash flow: -7.0M USDFY2018 Net income: -22.7M USDFY2019 Free cash flow: -2.9M USDFY2019 Net income: -2.8M USDFY2020 Free cash flow: -4.0M USDFY2020 Net income: 1.1M USDFY2021 Free cash flow: -8.6M USDFY2021 Net income: -7.5M USDFY2022 Net income: -9.2M USDFY2023 Net income: -1.5M USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Electrovaya Inc.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
n/mFY2023Oct 16, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
35.47xFY2023Oct 16, 2026
n/aFY2023Oct 16, 2026
n/a The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
n/aFY2023Oct 16, 2026
n/a The filed cash flow statement reports neither free cash flow nor the operating cash flow and capital spending it is built from.
n/aFY2023Jan 16, 2024
n/a The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
n/aFY2023Oct 16, 2026
n/a The filed cash flow statement reports no dividend paid at all. That is not the same as a filed zero, and we will not read it as one.
n/aFY2023Jan 16, 2024
n/a The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
0.97FY2023Jan 16, 2024
5.75xFY2023Oct 16, 2026
n/mFY2023Oct 16, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
n/aFY2023Oct 16, 2026
n/a We hold no figure here and no stored reason for its absence. The gap is ours, not the company's.
0.68FY2023Jan 16, 2024
5/9FY2023Jan 16, 2024

The figures are computed from the accounts for fiscal 2023, the newest full year on file. 2 filed fiscal years on record, FY2022 to FY2023, from SEC EDGAR. Prices as of Oct 16, 2026. Ratios recomputed Oct 16, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 fiscal years, FY2014 to FY2023. 2 read from the annual reports Electrovaya Inc filed with the SEC, each naming its filing; the rest from statements that name none, which are market data. Amounts in USD, as reported.

Electrovaya Inc: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY202344.1Mn/a-1.5Mn/an/an/a-20.7%40-F, Jan 16, 20240001654954-24-000631
FY202216.3Mn/a-9.2Mn/an/an/an/m40-F, Jan 16, 20240001654954-24-000631
FY20219.9M-7.3M-7.5Mn/a-8.6M-73.3%n/mMarket data, supplied Oct 15, 2026accession n/a
FY202013.7M-3.9M1.1Mn/a-4.0M-28.5%n/mMarket data, supplied Oct 15, 2026accession n/a
FY20194.4M-7.1M-2.8Mn/a-2.9M-159.5%n/mMarket data, supplied Oct 15, 2026accession n/a
FY20185.6M-10.2M-22.7Mn/a-7.0M-180.9%n/mMarket data, supplied Oct 15, 2026accession n/a
FY20172.3M-4.7M-21.2Mn/a-19.2M-206.7%n/mMarket data, supplied Oct 15, 2026accession n/a
FY201619.5M-8.4M-8.8Mn/a-8.7M-43.1%-110.6%Market data, supplied Oct 15, 2026accession n/a
FY201516.6M-3.3M-3.2Mn/a334.0K-19.8%-25.5%Market data, supplied Oct 15, 2026accession n/a
FY20147.4M-4.1M-3.4Mn/a-5.6M-55.1%-66.7%Market data, supplied Oct 15, 2026accession n/a
  • Revenue, compound annual growth FY2014 to FY2023: 21.9%
  • Earnings: Earnings was not positive in both 2014 and 2023, so a compound rate across the window is not defined. Both figures are in the table.
  • Earnings per share: Fewer than two filed years carry earnings per share.
  • Free cash flow: Free cash flow was not positive in both 2014 and 2021, so a compound rate across the window is not defined. Both figures are in the table.

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Electrovaya Inc: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score0.68 ComputedFY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
Piotroski F-score5/9 ComputedFY2023 40-F, filed Jan 16, 2024, 0001654954-24-000631
Named tests met0 of 30 Computed
Beta1.33 ComputedClose of Oct 16, 2026

The named tests

Of 30 tests value investors published: 0 met, 19 not met, 11 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
None of the named tests.
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; High F-score, low P/B (Joseph Piotroski); Three forensic scores; High returns and growth; Gross margin, turnover (Robert Novy-Marx); Low beta, profitable; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Clean books, high ROIC; Cheapest quarter on P/B (David Dreman)
Not measured
Earnings yield and ROIC (Joel Greenblatt); Low PEG, low debt (Peter Lynch); EV/EBITDA and coverage; High yield, low payout; Dividends and buybacks; ROIC at or above WACC; P/E times P/B (Benjamin Graham); Cash-covered dividend; Cash-flow yield and ROIC; Cheapest quarter on P/E (David Dreman); Low P/E, growth, yield (John Neff). A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(19)
  • Debt to Equity: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
  • Positive Earnings Streak: The latest filed year has no per-share earnings we can read; the test needs 10.
  • P/E Ratio: Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.
  • EV/EBIT: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
  • Return on Invested Capital: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
  • Altman Z-Score: We do not hold this figure for this company, so there is nothing to show.
  • PEG Ratio: Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.
  • Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • EV/EBITDA: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
  • Interest Coverage: No operating income line is filed for this year.
  • Dividend Yield: We do not hold this figure for this company, so there is nothing to show.
  • Payout Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Free Cash Flow Yield: We do not hold this figure for this company, so there is nothing to show.
  • Share Count Change Yoy: We do not hold this figure for this company, so there is nothing to show.
  • ROIC-WACC Spread: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
  • Price To Graham: Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.
  • Capex To Ocf: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Streak: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by Javier Sanz Alvarez: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 19 figures could not be read on this company, among them Debt to Equity, Positive Earnings Streak, P/E Ratio. Each blank in the table above names the rest, with its reason. 11 named tests come back incomplete because of them, which is neither met nor missed.
  • We hold 2 filed fiscal years rather than 10, so the run above is shorter than a full decade and is counted as what it is.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Margin Notes

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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ValueScreener

Discover companies, research each one to its filings, track what matters, and take your work into your own spreadsheet.

ValueScreener is a trading name of Oliva Real Estate Technologies LLC, a Delaware limited liability company. Legal notices: legal@valuescreener.ai. © 2026 Oliva Real Estate Technologies LLC. All rights reserved.

Risk disclaimer. This service is provided for research and education only. Nothing on it is investment advice, a recommendation, or an offer to buy or sell any security. Capital is at risk, and past performance does not indicate future results. Figures come from filed accounts and may be incomplete, delayed or later restated, so verify a number against the filing before you act on it.

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