ValueScreener company report

Canterbury Park Holding Corporation (CPHC)

Name: Canterbury Park Holding Corporation (CPHC) filed financial figures
Creator: ValueScreener

NASDAQ / Consumer Cyclical / Gambling, Resorts & Casinos

Share price

15.90 USD Market dataClose of Oct 15, 2026

Market capitalisation

81.9M USD Market dataClose of Oct 15, 2026

Market data: Oct 15, 2026
Filed accounts: FY2025, filed Mar 10, 2026
Ratios computed: Oct 15, 2026
Filed years: 10, FY2016 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 dataSEC filingComputed

Quality

Return on equity

-0.6% Computed

From the FY2025 filing

Read quality

Financial strength

Current ratio

2.60 Computed

From the FY2025 filing

Read financial strength

Valuation

Price to book

0.96x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

5.8% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.

Named tests met: 1 of 30 Which tests

The business, and the score behind its five axes

The reading, in brief

Is it good

Return on equity was -0.6% in FY2025, 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 Consumer Cyclical sector (436 companies), -0.6% sits at the 37th percentile; the middle half of that group runs from -19.6% to 16.9%.

Is it safe

Current ratio was 2.60 in FY2025, in the band labelled "At or above Graham's requirement" (2.00 and above), on lines anchored on Graham's defensive-investor criteria, suggesting short-term assets well above short-term obligations.

Today, against the Consumer Cyclical sector (487 companies), 2.60 sits at the 81st percentile; the middle half of that group runs from 1.02 to 2.26.

Year by year against peers: Whether Canterbury Park Holding Corporation's return on equity stayed above the median of the Consumer Cyclical sector, year by year. (FY2021 to FY2025, 5 fiscal years of Canterbury Park Holding Corporation with a comparable figure)
The direction: Which way Canterbury Park Holding Corporation's return on equity has moved, and how steadily. (FY2016 to FY2025, 10 filed years of Canterbury Park Holding Corporation)
What could explain it: What in Canterbury Park Holding Corporation's filed statements could explain the movements. (3 readings drawn from the statement lines Canterbury Park Holding Corporation filed)
What to check next: What to check next on Canterbury Park Holding Corporation, and where in its filings. (1 question for Canterbury Park Holding Corporation)
In one paragraph: One paragraph on Canterbury Park Holding Corporation's returns, cash, balance sheet and price. (8 of sixteen figures read for Canterbury Park Holding Corporation)

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

Research CPHCPart 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 Mar 10, 2026, accession 0001437749-26-007464.

3 of 10

Quality

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

SEC filingComputed

Canterbury Park Holding Corporation: 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 ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464
Return on equity	-0.6% ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464
Return on capital employed, pre-tax	2.4% ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464
Return on assets	-0.5% ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464
Gross margin Why n/a Our archived statements for this filer carry no gross profit line, so there is nothing to compute a gross margin from and trace back to source. That may be because the filer presents no cost of revenue, or because we have not captured the concept. We do not guess which.	n/a ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464
Operating margin	4.1% ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464
Net margin	-0.9% ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464

CPHC -0.9%

-5.6%2.1%

Net margin: CPHC 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

Canterbury Park Holding Corporation: leverage, liquidity and distress, each with its source
Figure	Value, source and document
Debt to equity 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 ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464
Current ratio	2.60 ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464
Quick ratio	2.57 ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464
Interest coverage Why n/a No interest expense is filed for this year, so coverage is not computed.	n/a ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464
Altman Z-score	3.11 ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464
Net debt Why n/a The FY2025 balance sheet carries no net debt we could read.	n/a ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464

Total assets Total liabilities Shareholders’ equity

The balance sheet, line by line

Financial health

What Canterbury Park Holding Corporation owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Mar 10, 2026, 0001437749-26-007464).

Canterbury Park Holding Corporation: balance sheet position
Total assets	112.6M FiledFY2025 10-K, filed Mar 10, 2026
Total liabilities	28.7M FiledFY2025 10-K, filed Mar 10, 2026
Shareholders' equity	83.9M FiledFY2025 10-K, filed Mar 10, 2026
Cash	17.1M FiledFY2025 10-K, filed Mar 10, 2026
Total debt	n/a FiledFY2025 10-K, filed Mar 10, 2026
Net debt	n/a
Current ratio	2.60
Debt to equity	n/a

Debt to equity: FY2025: 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.
Interest cover: FY2025: 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 dataSEC filingComputed

Canterbury Park Holding Corporation: 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 15, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464
P/E on trailing twelve months	788.50x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book	0.96x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464
Price to sales	1.35x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464
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 15, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464
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 15, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464
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 15, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464
Diluted earnings per share	-0.10 USD FiledFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464
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 ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464

We publish no fair value or price target of our own. Value CPHC 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 Canterbury Park Holding Corporation today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Canterbury Park Holding Corporation: valuation
Share price	15.90 USD
Market capitalisation	81.9M USD
Enterprise value to EBITDA	n/a
Graham number	n/m
Diluted earnings per share, FY2025	-0.10 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Aug 14, 2017: low 6.96x, median 14.79x, high 799.50x, latest 788.50x. 2,115 trading days with a meaningful ratio, 189 more on a loss and left out. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like Canterbury Park Holding Corporation

Same sector (Consumer Cyclical) 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.

SEC filingComputed

Canterbury Park Holding Corporation: cash generation and what is paid out, each with its source
Figure	Value, source and document
Free cash flow yield	5.8% ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464
Free cash flow	4.7M USD ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464
Free cash flow margin	7.9% ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464
Dividend yield	1.8% ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464
Payout ratio Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464

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.

Canterbury Park Holding Corporation: the eight ratios, with the fiscal year and filing date behind each.
Figure	Value	Year	As of
	n/m	FY2025	Oct 15, 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 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 10, 2026PeriodFY2025Accession0001437749-26-007464What we read from itIncome statementFY2025Open on SEC.gov, accession 0001437749-26-007464, leaves this page and opens in a new tab
	0.96x	FY2025	Oct 15, 2026
FormulaMarket capitalisation / shareholders equity As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 10, 2026PeriodFY2025Accession0001437749-26-007464What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001437749-26-007464, leaves this page and opens in a new tab
	n/a	FY2025	Oct 15, 2026
n/a Enterprise value is the market value plus total debt less cash, and the filed balance sheet reports no debt total or no cash.
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 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 10, 2026PeriodFY2025Accession0001437749-26-007464What we read from itIncome statementFY2025Open on SEC.gov, accession 0001437749-26-007464, leaves this page and opens in a new tabForm10-KFiledMar 10, 2026PeriodFY2025Accession0001437749-26-007464What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001437749-26-007464, leaves this page and opens in a new tab
	5.8%	FY2025	Oct 15, 2026
FormulaFree cash flow per share / share price x 100 As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 10, 2026PeriodFY2025Accession0001437749-26-007464What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001437749-26-007464, leaves this page and opens in a new tab
	n/a	FY2025	Mar 10, 2026
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 FY2025. Form10-KFiledMar 10, 2026PeriodFY2025Accession0001437749-26-007464What we read from itIncome statementFY2025Open on SEC.gov, accession 0001437749-26-007464, leaves this page and opens in a new tabForm10-KFiledMar 10, 2026PeriodFY2025Accession0001437749-26-007464What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001437749-26-007464, leaves this page and opens in a new tab
	1.8%	FY2025	Oct 15, 2026
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 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 10, 2026PeriodFY2025Accession0001437749-26-007464What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001437749-26-007464, leaves this page and opens in a new tab
	n/a	FY2025	Mar 10, 2026
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.
FormulaTotal debt / shareholders equity As ofThe filing date of the statements below, for FY2025. Form10-KFiledMar 10, 2026PeriodFY2025Accession0001437749-26-007464What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001437749-26-007464, leaves this page and opens in a new tab
	2.60	FY2025	Mar 10, 2026
FormulaCurrent assets / current liabilities As ofThe filing date of the statements below, for FY2025. Form10-KFiledMar 10, 2026PeriodFY2025Accession0001437749-26-007464What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001437749-26-007464, leaves this page and opens in a new tab
	1.35x	FY2025	Oct 15, 2026
FormulaMarket capitalisation / revenue As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 10, 2026PeriodFY2025Accession0001437749-26-007464What we read from itIncome statementFY2025Open on SEC.gov, accession 0001437749-26-007464, leaves this page and opens in a new tab
	n/m	FY2025	Oct 15, 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 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 10, 2026PeriodFY2025Accession0001437749-26-007464What we read from itIncome statementFY2025Open on SEC.gov, accession 0001437749-26-007464, leaves this page and opens in a new tab
	3.11	FY2025	Oct 15, 2026
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 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 10, 2026PeriodFY2025Accession0001437749-26-007464What we read from itIncome statementFY2025Open on SEC.gov, accession 0001437749-26-007464, leaves this page and opens in a new tabForm10-KFiledMar 10, 2026PeriodFY2025Accession0001437749-26-007464What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001437749-26-007464, leaves this page and opens in a new tab
	-2.83	FY2025	Mar 10, 2026
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 FY2025. Form10-KFiledMar 10, 2026PeriodFY2025Accession0001437749-26-007464What we read from itIncome statementFY2025Open on SEC.gov, accession 0001437749-26-007464, leaves this page and opens in a new tabForm10-KFiledMar 10, 2026PeriodFY2025Accession0001437749-26-007464What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001437749-26-007464, leaves this page and opens in a new tabForm10-KFiledMar 10, 2026PeriodFY2025Accession0001437749-26-007464What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001437749-26-007464, leaves this page and opens in a new tab
	3/9	FY2025	Mar 10, 2026
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 FY2025. Form10-KFiledMar 10, 2026PeriodFY2025Accession0001437749-26-007464What we read from itIncome statementFY2025Open on SEC.gov, accession 0001437749-26-007464, leaves this page and opens in a new tabForm10-KFiledMar 10, 2026PeriodFY2025Accession0001437749-26-007464What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001437749-26-007464, leaves this page and opens in a new tabForm10-KFiledMar 10, 2026PeriodFY2025Accession0001437749-26-007464What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001437749-26-007464, leaves this page and opens in a new tab

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 10 filed fiscal years on record, FY2016 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 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 filed fiscal years, FY2016 to FY2025, read from the annual reports Canterbury Park Holding Corporation filed with the SEC. Each year names its filing. Amounts in USD, as filed.

Canterbury Park Holding Corporation: 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	59.6M	2.5M	-529.4K	-0.10	4.7M	4.1%	-0.6%	10-K, Mar 10, 20260001437749-26-007464
FY2024	61.6M	6.4M	2.1M	0.42	-5.5M	10.4%	2.5%	10-K, Mar 11, 20250001437749-25-006992
FY2023	61.4M	11.5M	10.6M	2.13	3.6M	18.7%	12.9%	10-K, Mar 12, 20240001437749-24-007400
FY2022	66.8M	10.9M	7.5M	1.54	6.2M	16.3%	10.6%	10-K, Mar 21, 20230001437749-23-007356
FY2021	60.4M	17.8M	11.8M	2.44	9.7M	29.4%	18.3%	10-K, Mar 21, 20220001437749-22-006804
FY2020	33.1M	625.8K	1.1M	0.23	-406.8K	1.9%	2.1%	10-K, Mar 24, 20210001437749-21-006993
FY2019	59.2M	3.6M	2.7M	0.59	-627.1K	6.1%	5.5%	10-K, Mar 26, 20200001672909-20-000007
FY2018	59.1M	7.6M	5.7M	1.26	831.5K	12.9%	12.2%	10-K, Mar 29, 20190001672909-19-000006
FY2017	57.0M	4.5M	4.1M	0.93	3.3M	7.9%	10.1%	10-K, Mar 27, 20180001144204-18-017176
FY2016	52.5M	7.1M	4.2M	0.97	41.5K	13.6%	11.5%	10-K, Mar 30, 20170000897101-17-000381

Revenue, compound annual growth FY2016 to FY2025: 1.4%
Earnings: Earnings was not positive in both 2016 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
Earnings per share: Earnings per share was not positive in both 2016 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
Free cash flow, compound annual growth FY2016 to FY2025: 69.2%

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

Canterbury Park Holding Corporation: accounting screens and published tests, each with its source
Figure	Value, source and document
Beneish M-score	-2.83 ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464
Piotroski F-score	3/9 ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007464
Named tests met	1 of 30 Computed
Beta	0.01 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 1 met, 20 not met, 9 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: Cash-covered dividend
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); High yield, low payout; Dividends and buybacks; Low beta, profitable; Near the 52-week low; 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; Clean books, high ROIC; Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Not measured: Earnings yield and ROIC (Joel Greenblatt); Low PEG, low debt (Peter Lynch); EV/EBITDA and coverage; ROIC at or above WACC; Z-score and coverage (Edward Altman); P/E times P/B (Benjamin Graham); Book or below, low debt (Walter Schloss); Cash-flow yield and ROIC; Cheapest quarter on P/E (David Dreman). A test with a figure we could not read is incomplete, never met and never failed.

Figures we could not read(12)

Debt to Equity: 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.
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.
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.
Gross Margin: Our archived statements for this filer carry no gross profit line, so there is nothing to compute a gross margin from and trace back to source. That may be because the filer presents no cost of revenue, or because we have not captured the concept. We do not guess which.
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.
Payout Ratio: 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.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: 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

12 figures could not be read on this company, among them Debt to Equity, P/E Ratio, EV/EBIT. Each blank in the table above names the rest, with its reason. 9 named tests come back incomplete because of them, which is neither met nor missed.

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

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Analyze your own portfolio

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.

Four questions, at a glance

Quality

Financial strength

Valuation

Cash generation

Revenue and net income, as filed

The reading, in brief

Financial health

Valuation

Companies like Canterbury Park Holding Corporation

The filed figures

Ten years of filed figures

The named tests

What this cannot tell you

Margin Notes