ValueScreener company report

Health Catalyst, Inc. (HCAT)

Name: Health Catalyst, Inc. (HCAT) filed financial figures
Creator: ValueScreener

NASDAQ / Healthcare / Medical - Healthcare Information Services

Share price

1.80 USD Market dataClose of Oct 15, 2026

Market capitalisation

135.5M USD Market dataClose of Oct 15, 2026

Market data: Oct 15, 2026
Filed accounts: FY2025, filed Mar 12, 2026
Ratios computed: Oct 15, 2026
Filed years: 9, FY2017 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

-72.4% Computed

From the FY2025 filing

Read quality

Financial strength

Debt to equity

0.70 Computed

From the FY2025 filing

Read financial strength

Valuation

Price to book

0.51x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

-0.2% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

Revenue Net income9 filed fiscal years, from the annual reports; the table in Filings names each document.

Named tests met: 2 of 30 Which tests

The business, and the score behind its five axes

The reading, in brief

Is it good

Return on equity was -72.4% 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 Medical - Healthcare Information Services industry (39 companies), -72.4% sits at the 19th percentile; the middle half of that group runs from -53.1% to 7.7%.

Is it safe

Debt to equity was 0.70 in FY2025, in the band labelled "Within Graham's industrial limit" (0.50 to 1.00), on lines anchored on Graham's defensive-investor criteria.

Today, against the Healthcare sector (499 companies), 0.70 sits at the 73rd percentile; the middle half of that group runs from 0.03 to 0.76.

Year by year against peers: Whether Health Catalyst, Inc.'s return on equity stayed above the median of the Medical - Healthcare Information Services industry, year by year. (FY2021 to FY2025, 5 fiscal years of Health Catalyst, Inc. with a comparable figure)
The direction: Which way Health Catalyst, Inc.'s operating margin has moved, and how steadily. (FY2017 to FY2025, 9 filed years of Health Catalyst, Inc.)
What could explain it: What in Health Catalyst, Inc.'s filed statements could explain the movements. (6 readings drawn from the statement lines Health Catalyst, Inc. filed)
What to check next: What to check next on Health Catalyst, Inc., and where in its filings. (5 questions for Health Catalyst, Inc.)
In one paragraph: One paragraph on Health Catalyst, Inc.'s returns, cash, balance sheet and price. (8 of sixteen figures read for Health Catalyst, Inc.)

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

Research HCATPart 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 12, 2026, accession 0001636422-26-000035.

3 of 10

Quality

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

SEC filingComputed

Health Catalyst, 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 income tax is outside 0 to 100% of pre-tax income (a tax benefit on a profit, a charge on a loss, or a charge above the profit), which is a one-off in the tax line and not a rate operating profit was taxed at, so after-tax operating profit is not computed.	n/a ComputedFY2025 10-K, filed Mar 12, 2026, 0001636422-26-000035
Return on equity	-72.4% ComputedFY2025 10-K, filed Mar 12, 2026, 0001636422-26-000035
Return on capital employed, pre-tax	-38.9% ComputedFY2025 10-K, filed Mar 12, 2026, 0001636422-26-000035
Return on assets	-35.4% ComputedFY2025 10-K, filed Mar 12, 2026, 0001636422-26-000035
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 12, 2026, 0001636422-26-000035
Operating margin	-51.7% ComputedFY2025 10-K, filed Mar 12, 2026, 0001636422-26-000035
Net margin	-57.2% ComputedFY2025 10-K, filed Mar 12, 2026, 0001636422-26-000035

HCAT -57.2%

-57.5%11.4%

Net margin: HCAT 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

Health Catalyst, Inc: leverage, liquidity and distress, each with its source
Figure	Value, source and document
Debt to equity	0.70 ComputedFY2025 10-K, filed Mar 12, 2026, 0001636422-26-000035
Current ratio	1.89 ComputedFY2025 10-K, filed Mar 12, 2026, 0001636422-26-000035
Quick ratio	1.89 ComputedFY2025 10-K, filed Mar 12, 2026, 0001636422-26-000035
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 12, 2026, 0001636422-26-000035
Altman Z-score	-3.75 ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 12, 2026, 0001636422-26-000035
Net debt	75.5M ComputedFY2025 10-K, filed Mar 12, 2026, 0001636422-26-000035

Total assets Total liabilities Shareholders’ equity

The balance sheet, line by line

Financial health

What Health Catalyst, Inc owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Mar 12, 2026, 0001636422-26-000035).

Health Catalyst, Inc: balance sheet position
Total assets	502.6M FiledFY2025 10-K, filed Mar 12, 2026
Total liabilities	256.9M FiledFY2025 10-K, filed Mar 12, 2026
Shareholders' equity	245.8M FiledFY2025 10-K, filed Mar 12, 2026
Cash	95.7M FiledFY2025 10-K, filed Mar 12, 2026
Total debt	171.2M FiledFY2025 10-K, filed Mar 12, 2026
Net debt	75.5M
Current ratio	1.89
Debt to equity	0.70

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

Health Catalyst, 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 15, 2026 · FY2025 10-K, filed Mar 12, 2026, 0001636422-26-000035
P/E on trailing twelve months	3.83x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book	0.51x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 12, 2026, 0001636422-26-000035
Price to sales	0.40x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 12, 2026, 0001636422-26-000035
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 12, 2026, 0001636422-26-000035
Enterprise value to EBITDA Why n/m EBITDA is zero or negative, so a multiple of it is not meaningful.	n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 12, 2026, 0001636422-26-000035
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 12, 2026, 0001636422-26-000035
Diluted earnings per share	-2.55 USD FiledFY2025 10-K, filed Mar 12, 2026, 0001636422-26-000035
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 12, 2026, 0001636422-26-000035

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

Health Catalyst, Inc: valuation
Share price	1.80 USD
Market capitalisation	135.5M USD
Enterprise value to EBITDA	n/m
Graham number	n/m
Diluted earnings per share, FY2025	-2.55 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Nov 13, 2019: low 3.10x, median 3.67x, high 4.27x, latest 3.83x. 126 trading days with a meaningful ratio, 1,612 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 Health Catalyst, Inc

Same industry (Medical - Healthcare Information Services) 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

Health Catalyst, Inc: cash generation and what is paid out, each with its source
Figure	Value, source and document
Free cash flow yield	-0.2% ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 12, 2026, 0001636422-26-000035
Free cash flow	-237.0K USD ComputedFY2025 10-K, filed Mar 12, 2026, 0001636422-26-000035
Free cash flow margin	-0.1% ComputedFY2025 10-K, filed Mar 12, 2026, 0001636422-26-000035
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 15, 2026 · FY2025 10-K, filed Mar 12, 2026, 0001636422-26-000035
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 12, 2026, 0001636422-26-000035

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.

Health Catalyst, Inc.: 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 12, 2026PeriodFY2025Accession0001636422-26-000035What we read from itIncome statementFY2025Open on SEC.gov, accession 0001636422-26-000035, leaves this page and opens in a new tab
	0.51x	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 12, 2026PeriodFY2025Accession0001636422-26-000035What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001636422-26-000035, leaves this page and opens in a new tab
	n/a	FY2025	Oct 15, 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 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 12, 2026PeriodFY2025Accession0001636422-26-000035What we read from itIncome statementFY2025Open on SEC.gov, accession 0001636422-26-000035, leaves this page and opens in a new tabForm10-KFiledMar 12, 2026PeriodFY2025Accession0001636422-26-000035What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001636422-26-000035, leaves this page and opens in a new tab
	-0.2%	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 12, 2026PeriodFY2025Accession0001636422-26-000035What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001636422-26-000035, leaves this page and opens in a new tab
	n/a	FY2025	Mar 12, 2026
n/a The filed income tax is outside 0 to 100% of pre-tax income (a tax benefit on a profit, a charge on a loss, or a charge above the profit), which is a one-off in the tax line and not a rate operating profit was taxed at, so after-tax operating profit is not computed.
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 12, 2026PeriodFY2025Accession0001636422-26-000035What we read from itIncome statementFY2025Open on SEC.gov, accession 0001636422-26-000035, leaves this page and opens in a new tabForm10-KFiledMar 12, 2026PeriodFY2025Accession0001636422-26-000035What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001636422-26-000035, leaves this page and opens in a new tab
	n/a	FY2025	Oct 15, 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 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 12, 2026PeriodFY2025Accession0001636422-26-000035What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001636422-26-000035, leaves this page and opens in a new tab
	0.70	FY2025	Mar 12, 2026
FormulaTotal debt / shareholders equity As ofThe filing date of the statements below, for FY2025. Form10-KFiledMar 12, 2026PeriodFY2025Accession0001636422-26-000035What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001636422-26-000035, leaves this page and opens in a new tab
	1.89	FY2025	Mar 12, 2026
FormulaCurrent assets / current liabilities As ofThe filing date of the statements below, for FY2025. Form10-KFiledMar 12, 2026PeriodFY2025Accession0001636422-26-000035What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001636422-26-000035, leaves this page and opens in a new tab
	0.40x	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 12, 2026PeriodFY2025Accession0001636422-26-000035What we read from itIncome statementFY2025Open on SEC.gov, accession 0001636422-26-000035, 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 12, 2026PeriodFY2025Accession0001636422-26-000035What we read from itIncome statementFY2025Open on SEC.gov, accession 0001636422-26-000035, leaves this page and opens in a new tab
	-3.75	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 12, 2026PeriodFY2025Accession0001636422-26-000035What we read from itIncome statementFY2025Open on SEC.gov, accession 0001636422-26-000035, leaves this page and opens in a new tabForm10-KFiledMar 12, 2026PeriodFY2025Accession0001636422-26-000035What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001636422-26-000035, leaves this page and opens in a new tab
	-1.40	FY2025	Mar 12, 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 12, 2026PeriodFY2025Accession0001636422-26-000035What we read from itIncome statementFY2025Open on SEC.gov, accession 0001636422-26-000035, leaves this page and opens in a new tabForm10-KFiledMar 12, 2026PeriodFY2025Accession0001636422-26-000035What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001636422-26-000035, leaves this page and opens in a new tabForm10-KFiledMar 12, 2026PeriodFY2025Accession0001636422-26-000035What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001636422-26-000035, leaves this page and opens in a new tab
	4/9	FY2025	Mar 12, 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 12, 2026PeriodFY2025Accession0001636422-26-000035What we read from itIncome statementFY2025Open on SEC.gov, accession 0001636422-26-000035, leaves this page and opens in a new tabForm10-KFiledMar 12, 2026PeriodFY2025Accession0001636422-26-000035What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001636422-26-000035, leaves this page and opens in a new tabForm10-KFiledMar 12, 2026PeriodFY2025Accession0001636422-26-000035What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001636422-26-000035, 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. 9 filed fiscal years on record, FY2017 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

9 filed fiscal years, FY2017 to FY2025, read from the annual reports Health Catalyst, Inc filed with the SEC. Each year names its filing. Amounts in USD, as filed.

Health Catalyst, 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	311.1M	-160.9M	-178.0M	-2.55	-237.0K	-51.7%	-72.4%	10-K, Mar 12, 20260001636422-26-000035
FY2024	306.6M	-69.8M	-69.5M	-1.15	12.9M	-22.8%	-19.0%	10-K, Feb 26, 20250001636422-25-000028
FY2023	295.9M	-126.9M	-118.1M	-2.09	-34.3M	-42.9%	-32.2%	10-K, Feb 22, 20240001636422-24-000016
FY2022	276.2M	-140.0M	-137.4M	-2.63	-37.4M	-50.7%	-32.3%	10-K, Feb 28, 20230001636422-23-000033
FY2021	241.9M	-143.7M	-153.2M	-3.23	-33.6M	-59.4%	-29.4%	10-K, Mar 1, 20220001636422-22-000011
FY2020	188.8M	-96.1M	-115.0M	-2.91	-33.9M	-50.9%	-41.7%	10-K, Feb 25, 20210001636422-21-000026
FY2019	154.9M	-54.9M	-60.1M	-12.86	-34.2M	-35.4%	-29.9%	10-K, Feb 28, 20200001636422-20-000016
FY2018	112.6M	-60.1M	-62.0M	-23.76	-42.4M	-53.4%	n/m	10-K, Feb 28, 20200001636422-20-000016
FY2017	73.1M	-45.5M	-47.0M	-12.13	-39.3M	-62.3%	n/a	10-K, Feb 28, 20200001636422-20-000016

Revenue, compound annual growth FY2017 to FY2025: 19.9%
Earnings: Earnings was not positive in both 2017 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 2017 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
Free cash flow: Free cash flow was not positive in both 2017 and 2025, 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

Health Catalyst, Inc: accounting screens and published tests, each with its source
Figure	Value, source and document
Beneish M-score	-1.40 ComputedFY2025 10-K, filed Mar 12, 2026, 0001636422-26-000035
Piotroski F-score	4/9 ComputedFY2025 10-K, filed Mar 12, 2026, 0001636422-26-000035
Named tests met	2 of 30 Computed
Beta	1.35 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 2 met, 22 not met, 6 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: Book or below, low debt (Walter Schloss); Cheapest quarter on P/B (David Dreman)
Does not: Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; 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; High yield, low payout; Dividends and buybacks; 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); Tangible book or below; Cash-flow yield and ROIC; Clean books, high ROIC
Not measured: Earnings yield and ROIC (Joel Greenblatt); ROIC at or above WACC; P/E times P/B (Benjamin Graham); Cash-covered dividend; 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(15)

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 income tax is outside 0 to 100% of pre-tax income (a tax benefit on a profit, a charge on a loss, or a charge above the profit), which is a one-off in the tax line and not a rate operating profit was taxed at, so after-tax operating profit is not computed.
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: EBITDA is zero or negative, so a multiple of it is not meaningful.
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.
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.
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: 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 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

15 figures could not be read on this company, among them P/E Ratio, EV/EBIT, Return on Invested Capital. Each blank in the table above names the rest, with its reason. 6 named tests come back incomplete because of them, which is neither met nor missed.
We hold 9 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.

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

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The filed figures

Ten years of filed figures

The named tests

What this cannot tell you

Margin Notes