Gross margin
31%low FY2023
← All companies ← BULLW Manual BVN → ← BATRK Entertainment & Studios CNK →
BUUU, BUUU Group Limited
Entertainment & Studios diversified
Revenue is Event management services (83%) and Stage production services (17%).
The business
What it sells, where the money comes from, the kind of company it is.
Revenue · FY2025
$6M
+8.9% YoY
Vital signs · TTM, with 3-yr average
Revenue $6M 3-yr avg $5M
The business in brief
read the 10-K →What this business is and what moves its needle, from its own SEC filings.
- What it is
- A diversified business; where the profit really comes from, and whether it is earned or bought, is what the segment detail settles.
- What moves the needle
- Gross margin has run about 26% and operating margin about 16% through the cycle, a solid spread between what it charges and what the product costs to make. On its own account, the filing leans hardest on pricing power & competition, set against the numbers in what the filing emphasizes, below.
Every line is arithmetic on the company's filings, shown in full in the sections below.
Where the money comes from
read the 20-F →Event management services is 83% of revenue, with Stage production services the other meaningful line at 17%.
Revenue by product line, FY2025
- Event management services83%$5M
- Stage production services17%$1M
From the segment footnote of the company's own 20-F. Shares are of total revenue; the profit bar shows each segment's share of segment operating profit, before unallocated corporate costs.
The record
Ten years of arithmetic, read across the cycle.
The record, 2023–2025
realized figures from each filing · older years to the left| 2023’23 | 2024’24 | 2025’25 | TTMTTMJun 2025 | |
|---|---|---|---|---|
| Income statement | ||||
| $4M | $6M | $6M | $6M | RevenueRevenue |
| 20% | 26% | 31% | 31% | Gross marginGross mgn |
| $366K | $1M | $1M | $1M | Operating incomeOp. inc. |
| 10.3% | 17.7% | 16.3% | 16.3% | Operating marginOp. mgn |
| $331K | $880K | $799K | $799K | Net incomeNet inc. |
| 9% | 13% | 21% | 21% | Effective tax rateTax rate |
| Cash flow & returns | ||||
| $143K | $87K | $336K | $336K | Operating cash flowOp. cash |
| $51K | $46K | $43K | $43K | DepreciationDeprec. |
| ($239K) | ($839K) | ($506K) | ($506K) | Working capital & otherWC & other |
| $8K | $25K | $6K | $6K | CapexCapex |
| 0.2% | 0.4% | 0.1% | 0.1% | Capex / revenueCapex/rev |
| $135K | $62K | $330K | $330K | Owner earningsOwner earn. |
| 3.8% | 1.1% | 5.2% | 5.2% | Owner earnings marginOE mgn |
| $135K | $62K | $330K | $330K | Free cash flowFCF |
| 3.8% | 1.1% | 5.2% | 5.2% | Free cash flow marginFCF mgn |
| — | — | $508K | $508K | Dividends paidDiv. paid |
| — | 109% | 90% | 90% | ROICROIC |
| — | 69% | 79% | 79% | Return on equityROE |
| — | — | 29% | 29% | Retained to equityRetained/eq |
| Balance sheet | ||||
| — | $449K | $102K | $102K | Cash & investmentsCash+inv |
| — | $883K | $1M | $1M | ReceivablesReceiv. |
| — | $883K | $1M | $1M | Operating working capitalOper. WC |
| — | $2M | $2M | $2M | Current assetsCur. assets |
| — | $1M | $1M | $1M | Current liabilitiesCur. liab. |
| — | 2.0× | 1.6× | 1.6× | Current ratioCurr. ratio |
| — | $3M | $3M | $3M | Total assetsAssets |
| — | ($449K) | ($102K) | ($102K) | Net debt / (cash)Net debt |
| — | $1M | $1M | $1M | Shareholders’ equityEquity |
The record, charted
FY2023–2025Each measure over its full record; the current point and the worst year marked.
Owner earnings vs. net income
Owner earningsNet incomeThe accountant's number, and the cash an owner can take; the gap is the tell.
$330Kowner earningsvs.$799Knet incomelow FY2024
Where the cash went
ReinvestBuybacksDividendsAcquisitionsRetainedEach year's operating cash, by what management did with it: the mix, and how it drifts.
FY2023FY2025
Net income is the accountant's number; owner earnings is the cash an owner could take out. The walk between them, off the cash-flow statement, and whether the gap is widening or holding.
In fiscal 2025 the business reported $799K of profit but $330K of owner earnings: $469K less than the profit line, taken out by capital spending and the timing of cash.
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Reported net income | $799K | $880K | $331K |
| Depreciation & amortizationnon-cash charge added back | +$43K | +$46K | +$51K |
| Working capital & othertiming of cash in and out, other non-cash items | −$506K | −$839K | −$239K |
| Cash from operations | $336K | $87K | $143K |
| Capital expenditurecash put back in to keep running and to grow | −$6K | −$25K | −$8K |
| Owner earnings | $330K | $62K | $135K |
| Owner-earnings marginowner earnings ÷ revenue | 5% | 1% | 4% |
Owner earnings is the cash an owner could pull out without starving the business: operating cash less the capital it must spend to hold its position .
Much of fiscal 2025's profit didn't arrive as operating cash; it sits in “working capital & other” above. That can be a real inventory or timing swing, or profit that doesn't run through operating cash at all: a heavy tax year, equity-method earnings, or investment income booked through investing. For a year like this, owner earnings understates the cash earned; the full cash-flow statement carries the rest.
Maintenance capex is estimated as depreciation where a growing business invests above it; free cash flow is the figure the scorecard's free-cash margin reads.
Quality & stewardship
Returns, the balance sheet, capital allocation, and pay.
Owner’s Scorecard
FY2025 20-F · source on SEC EDGAR →
Will it survive?
- No meaningful interest burdenLittle or no interest expense reported
What this means
Little or no interest expense reported, the business isn't leaning on lenders to operate.
- Net cash, debt-freeCash $102K − debt $0
What this means
Cash and short-term investments exceed every dollar of debt by $102K, on net the company owes nothing, and can act from strength when others can't. Net debt is the leverage figure that matters: the cash is already set against the debt. Strategic or illiquid investments aren't counted here.
- Not enough data
What this means
The filing data didn't include the inputs for this check.
Is it a good business?
- Not enough dataIndustry peers: median -1%
What this means
The filing data didn't include the inputs for this check.
- Thin through the cycle3-yr median margin, range 1%–5%; latest $330K = operating cash $336K − maintenance capex $6KIndustry peers: median 3%
What this means
What an owner could take out without starving the business: operating cash less the maintenance capital it must spend to hold its position — Buffett's owner earnings. That's 5% of revenue this year, a 4% median across 3 years.
- Thinly cash-backedCash from ops $336K ÷ net income $799K
What this means
How much of reported profit showed up as operating cash. Above 1× is reassuring; well below suggests earnings lean on accruals. One year is noisy, growth and working-capital swings distort it, and this is operating cash, not free cash. Watch the multi-year trend.
How is the cash used?
- Returned more than it generatedDividends + buybacks $508K ÷ Owner Earnings $330K
What this means
The company returned more than it generated: against $330K of Owner Earnings, $508K (154%) went back to shareholders, $508K dividends, $0 buybacks — the excess came from the balance sheet or borrowing, not the year's operations. Sustained, that pattern draws down cash or adds debt; the net-debt line above shows where it stands.
- Investing or harvesting? 0.13×HarvestingCapex $6K ÷ depreciation $43K
What this means
Descriptive, not a grade. Above ~1× means investing faster than assets wear out (growth, or, sustained for years, today's earnings carrying less depreciation than tomorrow's will). Below means spending less than it's wearing out (efficiency, or a melting asset base). The ratio won't tell you which; the filings will.
Graham’s defensive tests · 0 of 2 met
Graham’s numerical criteria for the defensive investor (The Intelligent Investor, ch. 14), run on the filings. A floor of safety, not a buy signal; many fine modern businesses fail his strictest liquidity rules by design.
- Adequate size MissRevenue ≥ $2B · $6M
What this means
Big enough to weather a storm. Graham's 1972 floor was ~$100M of sales (≈ $700M today); we use a $2B revenue line as a conservative modern stand-in.
- Strong liquidity NearCurrent ratio ≥ 2× · 1.61×
What this means
Current assets at least twice current liabilities, near-term bills covered without touching the business. Strict by design: many cash-rich modern firms run leaner and miss it, holding their cushion in longer-dated securities.
- Moderate price —P/E ≤ 15 and P/E × P/B ≤ 22.5 · decided by the price
What this means
Graham's valuation gate, the wall he kept between a sound business and a sound investment. . Enter a price in “What the price implies” just below for the P/E, P/B, and whether it clears. But this is the rule Buffett outgrew: there's no hard P/E law, and a wonderful business can deserve a far richer multiple if the thesis holds, treat it as the bargain-hunter's floor, not a verdict on the price.
Does AI threaten the moat?
Moderate contestabilityAI is likely to reshape costs and some products here without clearly contesting or sparing the core moat; how the company itself frames it is the tell.
The question is whether a moat the record shows as durable outlasts a technology that lowers the cost of part of what the firm sells. The durability is read in the record above, the filing's own framing of AI beside it; the industry label decides nothing on its own.
Read from the filing's own risk factors, paired with the industry's structure under its SIC code; the durability is read above, the price below.
All figures as filed; the source filing is linked above.
Current Position
as of fiscal year-end, Jun 30, 2025Can the business pay what it owes this year, off the freshest balance sheet: the quality of the assets, the debt actually coming due, and what a low ratio means here.
Current assets$2M
- Cash & short-term investments$102K
- Receivables$1M
- Other current assets$949K
Current liabilities$1M
- Other current liabilities$1M
Current ratio1.61×all current assets ÷ what's due · Graham looked for 2×
Quick ratio1.61×stricter: inventory excluded
Cash ratio0.07×strictest: cash alone against what's due
Working capital$894Kthe cushion left after near-term bills
Deeper floors
Tangible book value$1Mequity stripped of goodwill & intangibles
Net current asset value$876KGraham's net-net: current assets less all liabilities
Debt incl. operating leases$43K$43K of it operating leases
Deferred revenue$21Kcustomer cash collected before delivery; operating float
From the company's latest filing.
Peers, Entertainment & Studios
The same industry, side by side on owner economics. Each figure is a through-cycle median, so a peak or trough year can’t distort it; the group median at the foot is the line to read each against.
| Company | Revenue | Gross margin | Op. margin | ROIC | Owner earn. margin |
|---|---|---|---|---|---|
| TKOTKO Group Holdings Inc. | $4.7B | — | 17.6% | — | — |
| ACELAccel Entertainment Inc. | $1.3B | — | 7.7% | 14% | 7% |
| RSIRush Street Interactive Inc. | $1.1B | 32% | -19.3% | — | -1% |
| OSWOneSpaWorld Holdings Limited | $961M | — | 7.2% | 12% | 6% |
| LLYVALiberty Live Holdings, Inc. | $382M | 19% | -13.5% | -1% | — |
| SEGSeaport Entertainment Group Inc. | $130M | — | -91.7% | -18% | — |
| FBYDFalcon's Beyond Global Inc. | $15M | — | -172.0% | -55% | -148% |
| BUUUBUUU Group Limited | $6M | 26% | 16.3% | 90% | 4% |
| Group median | — | 26% | -3.2% | 5% | 4% |
The price
What a price has to assume.
What the price implies
reverse-DCFEnter the US price, in dollars: the NYSE/Nasdaq quote you hold. BUUU Group Limited's US listing is the ordinary share itself. The record tables elsewhere on this page remain as filed.
Type today's close and see the owner-earnings growth you'd have to believe to justify it, beside what BUUU Group Limited has delivered.
$
million The share count isn’t tagged in a form this tool can read; enter it too (any quote page lists it). The rest is from the record.
Base
—
The assumptions
9.0% = the 4.55% 10-year Treasury (Jul 15, 2026) + 4.45 points of equity premium. The rate you require is yours to set.
Enter a price above to run it.
A dated snapshot of the price you typed, the assumptions you set, and what the page showed for them. A snapshot is never edited after it is saved. Your notebook is yours alone — the commitment states what is stored and what we will never do.
Implied by the price—
Owner-earnings growth · since FY2023+57%/yr
Owner-earnings growth · since FY2023+57%/yr
Owner-earnings yield—
What a growth belief costs, in multiples
The growth each return requires, at your price
Against a high-grade bond: Graham’s yardstick bond yield%
Prefilled with the 10-year Treasury (4.55%, as of Jul 15, 2026). Edit it for today’s exact figure, or a AAA corporate yield.
Graham measured a stock against the bond you could own instead, the heart of his margin of safety. Enter a price above to weigh the owner-earnings yield against this bond.
Owner-earnings yield—
High-grade bond yield—
Margin over the bond—
Owner earnings $330K on the share count you enter above; net cash $102K. The base is the latest year by default; Normalize values it on the through-cycle median owner-earnings margin (to avoid paying on a peak year). Net of stock comp treats option pay as the expense it is. The dials set the multiple a growth belief justifies; the price, and every dollar on this page, is yours.
Cite: Owner Scorecard, "BUUU Group Limited (BUUU), the owner's record," https://ownerscorecard.com/c/BUUU, data as of 2026-07-09.
Manual order: ← BULLW its page in the Manual BVN →
Industry order: ← BATRK the Entertainment & Studios chapter CNK →