ValueScreener company report

VisionWave Holdings, Inc. (VWAV)

Name: VisionWave Holdings, Inc. (VWAV) financial figures
Creator: ValueScreener

NASDAQ / Industrials / Aerospace & Defense

Share price

4.26 USD Market dataClose of Oct 16, 2026

Market capitalisation

128.7M USD Market dataClose of Oct 16, 2026

Market data: Oct 16, 2026
Newest accounts: FY2024, market data
Ratios computed: Oct 16, 2026
Filed years: 1, FY2025 to FY2025

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 dataComputed

Quality

Return on invested capital, after tax

n/a Computed

From FY2024 market data

Why n/a

The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read.

Read quality

Financial strength

Current ratio

0.003 Computed

From FY2024 market data

Read financial strength

Valuation

Price to earnings

n/m Computed

FY2024 accounts, priced at the latest close

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.

Read valuation

Cash generation

Free cash flow yield

-5.6% Computed

FY2024 accounts, priced at the latest close

Read cash generation

Revenue and net income, by fiscal year

Revenue Net income5 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 cheap

Free cash flow yield is -5.6% at the close of 2026-10-16 on FY2024 figures; the lines are 2.0%, 5.0% and 8.0%, set by convention, and this sits below the lowest.

Today, against the Aerospace & Defense industry (78 companies), -5.6% sits at the 36th percentile; the middle half of that group runs from -20.4% to 2.9%.

Is it good

Return on invested capital for VisionWave Holdings, Inc. in FY2024: n/a. The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read.

Is it safe

Current ratio was 0.0025 in FY2024, 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 Aerospace & Defense industry (76 companies), 0.0025 sits at the 0th percentile; the middle half of that group runs from 1.28 to 4.06.

The direction: Which way VisionWave Holdings, Inc.'s current ratio has moved, and how steadily. (FY2021 to FY2024, 4 filed years of VisionWave Holdings, Inc.)
What could explain it: What in VisionWave Holdings, Inc.'s filed statements could explain the movements. (1 reading drawn from the statement lines VisionWave Holdings, Inc. filed)
What to check next: What to check next on VisionWave Holdings, Inc., and where in its filings. (2 questions for VisionWave Holdings, Inc.)
In one paragraph: One paragraph on VisionWave Holdings, Inc.'s returns, cash, balance sheet and price. (2 of sixteen figures read for VisionWave Holdings, Inc.)

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

Research VWAVPart 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 FY2025 annual report: 10-K, filed Dec 31, 2025, accession 0001731122-25-001750.

3 of 10

Quality

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

Market dataComputed

VisionWave Holdings, Inc: returns on capital and margins, each with its source
Figure	Value, source and document
Return on invested capital, after tax Why n/a The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read.	n/a ComputedFY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a
Return on equity Why n/m Book equity is zero or negative. Return on equity computed over it flips sign and can read as a strong positive on a loss-making company, so we will not show a number.	n/m ComputedFY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a
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 ComputedFY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a
Return on assets	-17.6% ComputedFY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a
Gross margin Why n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.	n/a ComputedFY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a
Operating margin Why n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.	n/a ComputedFY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a
Net margin Why n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.	n/a ComputedFY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a

4 of 10

Financial strength

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

Market dataComputedCompany statement

VisionWave Holdings, Inc: leverage, liquidity and distress, each with its source
Figure	Value, source and document
Debt to equity Why n/m Filed shareholders equity is zero or below, so debt measured against it is not a measurement (n/m).	n/m ComputedFY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a
Current ratio	0.003 ComputedFY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a
Quick ratio	0.00 ComputedFY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a
Interest coverage Why n/a No interest expense is filed for this year, so coverage is not computed.	n/a ComputedFY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a
Altman Z-score Why n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.	n/a ComputedClose of Oct 16, 2026 · FY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a
Net debt Why n/a The FY2024 balance sheet carries no net debt we could read.	n/a ComputedFY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a

Total assets Total liabilities Shareholders’ equity (zero or below, not drawn)

The balance sheet, line by line

Financial health

What VisionWave Holdings, Inc owned and owed at the end of fiscal 2024, from a copy of its balance sheet that names no SEC filing (market data).

VisionWave Holdings, Inc: balance sheet position
Total assets	3.8M Market dataFY2024 market data, supplied Oct 15, 2026, no SEC filing named
Total liabilities	5.7M Market dataFY2024 market data, supplied Oct 15, 2026, no SEC filing named
Shareholders' equity	-1.9M Market dataFY2024 market data, supplied Oct 15, 2026, no SEC filing named
Cash	9.8K Market dataFY2024 market data, supplied Oct 15, 2026, no SEC filing named
Total debt	n/a Market dataFY2024 market data, supplied Oct 15, 2026, no SEC filing named
Net debt	n/a
Current ratio	0.003
Debt to equity	n/m

Debt to equity: FY2024: Filed shareholders equity is zero or below, so debt measured against it is not a measurement (n/m).
Interest cover: FY2024: No interest expense is filed for this year, so coverage is not computed.

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 dataComputed

VisionWave Holdings, Inc: what the market charges, each with its source
Figure	Value, 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 · FY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a
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 3 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 book Why n/m Book equity is zero or negative, so a ratio measured against it (debt to equity, price to book) is not a measurement, and we will not show a number.	n/m ComputedClose of Oct 16, 2026 · FY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a
Price to sales Why n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.	n/a ComputedClose of Oct 16, 2026 · FY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a
Enterprise value to EBIT 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 · FY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a
Enterprise value to EBITDA 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 · FY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a
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 · FY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a
Diluted earnings per share Why n/a The FY2024 filing carries no diluted earnings per share we could read.	n/a Market dataFY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a
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 ComputedFY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a

We publish no fair value or price target of our own. Value VWAV 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 VisionWave Holdings, Inc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

VisionWave Holdings, Inc: valuation
Share price	4.26 USD
Market capitalisation	128.7M USD
Enterprise value to EBITDA	n/a
Graham number	n/m
Diluted earnings per share, FY2024	n/a

Diluted earnings per share, FY2024: Filed before the 1-for-20 split on 22 Sep 2026, 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 3 for this company. Nothing is drawn rather than a line built from fewer.

Companies like VisionWave Holdings, Inc

Same industry (Aerospace & Defense) and size band (Micro, 50M to 300M), nearest in market value 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.

Market dataComputed

VisionWave Holdings, Inc: cash generation and what is paid out, each with its source
Figure	Value, source and document
Free cash flow yield	-5.6% ComputedClose of Oct 16, 2026 · FY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a
Free cash flow	-862.1K USD ComputedFY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a
Free cash flow margin Why n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.	n/a ComputedFY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a
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 · FY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a
Payout ratio Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedFY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a

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 figures on file

Computed from annual statements that name no SEC filing and, in a ratio with a price in it, the last close, dated on this page. So each figure below reads Market data, with the fiscal year it is for and the day it was supplied, and every blank carries the reason it is blank. Nothing here is a view on this company.

VisionWave Holdings, Inc.: the eight ratios, with the fiscal year and filing date behind each.
Figure	Value	Year	As of
	n/m	FY2024	Oct 16, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
FormulaShare price / earnings per share. Where the filing states no earnings per share this listing can be priced on, which is every 20-F and 40-F filer because theirs is stated per ordinary share, it is market capitalisation / net income: the same multiple, undiluted. As ofThe close on Oct 16, 2026, over the filed figures of FY2024: a price is in this figure, and it moved after the filing. Formn/aFiledn/aPeriodFY2024Accessionn/aWhat we read from itIncome statementFY2024No address for this document is on file, so it cannot be opened from here.
	n/m	FY2024	Oct 16, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
FormulaMarket capitalisation / shareholders equity As ofThe close on Oct 16, 2026, over the filed figures of FY2024: a price is in this figure, and it moved after the filing. Formn/aFiledn/aPeriodFY2024Accessionn/aWhat we read from itBalance sheetFY2024No address for this document is on file, so it cannot be opened from here.
	n/a	FY2024	Oct 16, 2026
n/a Operating profit is zero or negative, so there is no profit for a buyer's price to be a multiple of.
Formula(Market capitalisation + total debt - cash) / operating income, or over the filing's own EBIT (income before tax + interest expense) where the filer tags no operating line, as Johnson & Johnson does not in any of its ten filed years. As ofThe close on Oct 16, 2026, over the filed figures of FY2024: a price is in this figure, and it moved after the filing. Formn/aFiledn/aPeriodFY2024Accessionn/aWhat we read from itIncome statementFY2024No address for this document is on file, so it cannot be opened from here.Formn/aFiledn/aPeriodFY2024Accessionn/aWhat we read from itBalance sheetFY2024No address for this document is on file, so it cannot be opened from here.
	-5.6%	FY2024	Oct 16, 2026
FormulaFree cash flow per share / share price x 100 As ofThe close on Oct 16, 2026, over the filed figures of FY2024: a price is in this figure, and it moved after the filing. Formn/aFiledn/aPeriodFY2024Accessionn/aWhat we read from itCash flow statementFY2024No address for this document is on file, so it cannot be opened from here.
	n/a	FY2024	n/a
n/a The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read.
FormulaVendor trailing-twelve-month return on invested capital where one is published, which uses after-tax operating profit over total assets less current liabilities. Otherwise our own recompute: NOPAT / (shareholders equity + total debt - cash) x 100, where NOPAT is the filed operating profit after tax, or the filing's own EBIT after tax where the filer tags no operating line. As ofThe filing date of the statements below, for FY2024. Formn/aFiledn/aPeriodFY2024Accessionn/aWhat we read from itIncome statementFY2024No address for this document is on file, so it cannot be opened from here.Formn/aFiledn/aPeriodFY2024Accessionn/aWhat we read from itBalance sheetFY2024No address for this document is on file, so it cannot be opened from here.
	n/a	FY2024	Oct 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.
FormulaCommon dividends paid in the latest filed year / market capitalisation x 100. n/a where the filing cannot support it: a special or first-year payment, a total that mixes preferred dividends, or a cash-flow statement over 15 months old. As ofThe close on Oct 16, 2026, over the filed figures of FY2024: a price is in this figure, and it moved after the filing. Formn/aFiledn/aPeriodFY2024Accessionn/aWhat we read from itCash flow statementFY2024No address for this document is on file, so it cannot be opened from here.
	n/m	FY2024	n/a
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
FormulaTotal debt / shareholders equity As ofThe filing date of the statements below, for FY2024. Formn/aFiledn/aPeriodFY2024Accessionn/aWhat we read from itBalance sheetFY2024No address for this document is on file, so it cannot be opened from here.
	0.003	FY2024	n/a
FormulaCurrent assets / current liabilities As ofThe filing date of the statements below, for FY2024. Formn/aFiledn/aPeriodFY2024Accessionn/aWhat we read from itBalance sheetFY2024No address for this document is on file, so it cannot be opened from here.
	n/a	FY2024	Oct 16, 2026
n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
FormulaMarket capitalisation / revenue As ofThe close on Oct 16, 2026, over the filed figures of FY2024: a price is in this figure, and it moved after the filing. Formn/aFiledn/aPeriodFY2024Accessionn/aWhat we read from itIncome statementFY2024No address for this document is on file, so it cannot be opened from here.
	n/m	FY2024	Oct 16, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
FormulaPrice to earnings / the annual earnings growth rate, in percentage points As ofThe close on Oct 16, 2026, over the filed figures of FY2024: a price is in this figure, and it moved after the filing. Formn/aFiledn/aPeriodFY2024Accessionn/aWhat we read from itIncome statementFY2024No address for this document is on file, so it cannot be opened from here.
	n/a	FY2024	Oct 16, 2026
n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
Formula1.2 x working capital/assets + 1.4 x retained earnings/assets + 3.3 x EBIT/assets + 0.6 x market value of equity/total liabilities + 1.0 x revenue/assets As ofThe close on Oct 16, 2026, over the filed figures of FY2024: a price is in this figure, and it moved after the filing. Formn/aFiledn/aPeriodFY2024Accessionn/aWhat we read from itIncome statementFY2024No address for this document is on file, so it cannot be opened from here.Formn/aFiledn/aPeriodFY2024Accessionn/aWhat we read from itBalance sheetFY2024No address for this document is on file, so it cannot be opened from here.
	n/a	FY2024	n/a
n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
FormulaAn eight-variable index of year-on-year changes in receivables, gross margin, asset quality, revenue, depreciation, overheads, leverage and accruals As ofThe filing date of the statements below, for FY2024. Formn/aFiledn/aPeriodFY2024Accessionn/aWhat we read from itIncome statementFY2024No address for this document is on file, so it cannot be opened from here.Formn/aFiledn/aPeriodFY2024Accessionn/aWhat we read from itBalance sheetFY2024No address for this document is on file, so it cannot be opened from here.Formn/aFiledn/aPeriodFY2024Accessionn/aWhat we read from itCash flow statementFY2024No address for this document is on file, so it cannot be opened from here.
	n/a	FY2024	n/a
n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
FormulaOne point each for: positive return on assets, positive operating cash flow, rising return on assets, operating cash flow above net income, falling leverage, rising current ratio, no new shares issued, rising gross margin, rising asset turnover. As ofThe filing date of the statements below, for FY2024. Formn/aFiledn/aPeriodFY2024Accessionn/aWhat we read from itIncome statementFY2024No address for this document is on file, so it cannot be opened from here.Formn/aFiledn/aPeriodFY2024Accessionn/aWhat we read from itBalance sheetFY2024No address for this document is on file, so it cannot be opened from here.Formn/aFiledn/aPeriodFY2024Accessionn/aWhat we read from itCash flow statementFY2024No address for this document is on file, so it cannot be opened from here.

The figures are computed from the accounts for fiscal 2024, the newest full year on file. 1 filed fiscal year on record, FY2025 to FY2025, 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

5 fiscal years, FY2021 to FY2025. 1 read from the annual reports VisionWave Holdings, 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.

VisionWave Holdings, Inc: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
Year	Revenue	Operating income	Net income	EPS, diluted	Free cash flow	Operating margin	Return on equity	Filing
FY2025	n/a	-6.7M	-6.5M	n/a	n/a	n/a	n/a	10-K, Dec 31, 20250001731122-25-001750
FY2024	n/a	-664.2K	-664.2K	n/a	-862.1K	n/a	n/m	Market data, supplied Oct 15, 2026accession n/a
FY2023	n/a	-1.5M	-56.8K	n/a	-908.5K	n/a	-0.2%	Market data, supplied Oct 15, 2026accession n/a
FY2022	n/a	-1.0M	47.1K	n/a	-683.2K	n/a	0.1%	Market data, supplied Oct 15, 2026accession n/a
FY2021	n/a	-395.7K	-277.2K	n/a	-332.5K	n/a	-0.4%	Market data, supplied Oct 15, 2026accession n/a

Revenue: Fewer than two filed years carry revenue.
Earnings: Earnings was not positive in both 2021 and 2025, 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 2021 and 2024, 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

VisionWave Holdings, Inc: accounting screens and published tests, each with its source
Figure	Value, source and document
Beneish M-score Why n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.	n/a ComputedFY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a
Piotroski F-score Why n/a Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.	n/a ComputedFY2024 market data, supplied Oct 15, 2026, no SEC filing named, accession n/a
Named tests met	0 of 30 Computed
Beta 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

The named tests

Of 30 tests value investors published: 0 met, 13 not met, 17 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); Large cap, low P/E; High yield, low payout; Dividends and buybacks; 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); Tangible book or below; Cash-flow yield and ROIC
Not measured: Deep value; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; Low beta, profitable; ROIC at or above WACC; P/E times P/B (Benjamin Graham); Book or below, low debt (Walter Schloss); Cash-covered dividend; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (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(25)

Debt to Equity: Filed shareholders equity is zero or below, so debt measured against it is not a measurement (n/m).
P/B Ratio: Book equity is zero or negative, so a ratio measured against it (debt to equity, price to book) is not a measurement, and we will not show a number.
Piotroski F-Score: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
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: We do not hold this figure for this company, so there is nothing to show.
Return on Invested Capital: The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read.
Altman Z-Score: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
Beneish M-Score: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
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.
Return on Equity: Book equity is zero or negative. Return on equity computed over it flips sign and can read as a strong positive on a loss-making company, so we will not show a number.
Rev Growth 5Y: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
Gross Margin: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
Asset Turnover: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
EV/EBITDA: We do not hold this figure for this company, so there is nothing to show.
Interest Coverage: No interest expense is filed for this year, so coverage is not computed.
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.
Beta: We do not hold this figure for this company, so there is nothing to show.
ROIC-WACC Spread: We do not hold this figure for this company, so there is nothing to show.
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.
P/S Ratio: Our archived income statement for this filer carries no revenue line. A development-stage company files exactly that, with no revenue to report. Either way there is no denominator, and a ratio measured against a missing denominator is not zero, it is nothing.
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.
Price Tangible Book: Book equity is zero or negative, so a ratio measured against it (debt to equity, price to book) is not a measurement, and we will not show a number.

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.

Value it in the DCF workbench

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.

What this cannot tell you

25 figures could not be read on this company, among them Debt to Equity, P/B Ratio, Piotroski F-Score. Each blank in the table above names the rest, with its reason. 17 named tests come back incomplete because of them, which is neither met nor missed.
We hold 1 filed fiscal year 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.

Monitor my portfolio How this is computed

No card. 30 free days, and nothing is charged unless you choose a plan.

Analyze your own portfolio

ValueScreener · valuescreener.ai · Computed from accounts this company filed with the SEC for 1 of 5 fiscal years, read from EDGAR; the newest year is read from a statement that names no SEC filing, which is market data. Also from dated closing prices. Every figure on this page opens into its formula and its inputs. 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.

Four questions, at a glance

Quality

Financial strength

Valuation

Cash generation

Revenue and net income, by fiscal year

The reading, in brief

Financial health

Valuation

Companies like VisionWave Holdings, Inc

The figures on file

Ten years of filed figures

The named tests

What this cannot tell you

Margin Notes