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Incannex Healthcare Limited (IXHL)

NASDAQ / Healthcare / Drug Manufacturers - Specialty & Generic

Share price

2.88 USD Market dataClose of Oct 15, 2026

Market capitalisation

34.5M USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2026, filed Sep 25, 2026
Ratios computed
Oct 15, 2026
Filed years
4, FY2023 to FY2026
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

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

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on equity

-28.6% Computed

From the FY2026 filing

Read quality

Valuation

Price to book

0.50x Computed

FY2026 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

-38.4% Computed

FY2026 accounts, priced at the latest close

Read cash generation

Revenue and net income, by fiscal year

FY2017 Revenue: 283.0K AUDFY2017 Net income: -20.8M AUDFY2018 Revenue: 1.0M AUDFY2018 Net income: -2.9M AUDFY2019 Revenue: 1.2M AUDFY2019 Net income: -2.7M AUDFY2020 Revenue: 599.7K AUDFY2020 Net income: -4.7M AUDFY2021 Revenue: 1.9M AUDFY2021 Net income: -11.4M AUDFY2022 Revenue: 785.2K AUDFY2022 Net income: -14.9M AUDFY2023 Net income: -48.8M AUDFY2024 Revenue: 12.0K AUDFY2024 Net income: -18.5M AUDFY2025 Revenue: 86.0K AUDFY2025 Net income: -46.9M AUDFY2026 Revenue: 0.00 AUDFY2026 Net income: -19.3M AUD
Revenue Net income10 fiscal years; a year whose statement names no SEC filing is market data, and the table in Filings says which.
Named tests met
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 -28.6% in FY2026, 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 Drug Manufacturers - Specialty & Generic industry (57 companies), -28.6% sits at the 27th percentile; the middle half of that group runs from -35.9% to 7.5%.

Is it safe

Current ratio was 48.81 in FY2026, 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 Drug Manufacturers - Specialty & Generic industry (68 companies), 48.81 sits at the 100th percentile; the middle half of that group runs from 1.36 to 4.07.

Year by year against peers
Whether Incannex Healthcare Limited's return on equity stayed above the median of the Drug Manufacturers - Specialty & Generic industry, year by year. (FY2020 to FY2025, 6 fiscal years of Incannex Healthcare Limited with a comparable figure)
The direction
Which way Incannex Healthcare Limited's current ratio has moved, and how steadily. (FY2017 to FY2026, 10 filed years of Incannex Healthcare Limited)
What could explain it
What in Incannex Healthcare Limited's filed statements could explain the movements. (3 readings drawn from the statement lines Incannex Healthcare Limited filed)
What to check next
What to check next on Incannex Healthcare Limited, and where in its filings. (2 questions for Incannex Healthcare Limited)
In one paragraph
One paragraph on Incannex Healthcare Limited's returns, cash, balance sheet and price. (4 of sixteen figures read for Incannex Healthcare Limited)

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

Research IXHLPart 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 FY2026 annual report: 10-K, filed Sep 25, 2026, accession 0001628280-26-063506.

3 of 10

Quality

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

SEC filingComputed

Incannex Healthcare Limited: returns on capital and margins, each with its source
FigureValue, 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 ComputedFY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
Return on equity-28.6% ComputedFY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
Return on capital employed, pre-tax-32.2% ComputedFY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
Return on assets-26.4% ComputedFY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
Gross margin
Why n/m

This company reported no revenue for the period, so every ratio measured against revenue is undefined. It is not a zero margin, it is the absence of a denominator. Cash runway is the measure that applies.

n/m ComputedFY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
Operating margin
Why n/m

This company reported no revenue for the period, so every ratio measured against revenue is undefined. It is not a zero margin, it is the absence of a denominator. Cash runway is the measure that applies.

n/m ComputedFY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
Net margin
Why n/m

This company reported no revenue for the period, so every ratio measured against revenue is undefined. It is not a zero margin, it is the absence of a denominator. Cash runway is the measure that applies.

n/m ComputedFY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506

4 of 10

Financial strength

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

SEC filingComputedCompany statement

Incannex Healthcare Limited: leverage, liquidity and distress, each with its source
FigureValue, 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 ComputedFY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
Current ratio48.81 ComputedFY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
Quick ratio48.81 ComputedFY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
Interest coverage
Why n/a

The filing states no interest expense for this year, so coverage is not computed: with no interest bill there is nothing to cover.

n/a ComputedFY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
Altman Z-score
Why n/m

This company reported no revenue for the period, so every ratio measured against revenue is undefined. It is not a zero margin, it is the absence of a denominator. Cash runway is the measure that applies.

n/m ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
Net debt
Why n/a

The FY2026 balance sheet carries no net debt we could read.

n/a ComputedFY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
Total assets 73.0MTotal liabilities 5.6MShareholders' equity 67.4MOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Incannex Healthcare Limited owned and owed at the end of fiscal 2026, from the balance sheet it filed (10-K, filed Sep 25, 2026, 0001628280-26-063506).

Incannex Healthcare Limited: balance sheet position
Total assets73.0M FiledFY2026 10-K, filed Sep 25, 2026
Total liabilities5.6M FiledFY2026 10-K, filed Sep 25, 2026
Shareholders' equity67.4M FiledFY2026 10-K, filed Sep 25, 2026
Cash67.7M FiledFY2026 10-K, filed Sep 25, 2026
Total debtn/a FiledFY2026 10-K, filed Sep 25, 2026
Net debtn/a
Current ratio48.81
Debt to equityn/a
  • Debt to equity: FY2026: 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: FY2026: The filing states no interest expense for this year, so coverage is not computed: with no interest bill there is nothing to cover.

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

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

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

n/m ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
P/E on trailing twelve months
Why n/a

Fewer than twenty trading days carry a meaningful trailing price to earnings ratio, so no range is stated.

n/a ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book0.50x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
Price to sales
Why n/m

This company reported no revenue for the period, so every ratio measured against revenue is undefined. It is not a zero margin, it is the absence of a denominator. Cash runway is the measure that applies.

n/m ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
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 · FY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
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 · FY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
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 · FY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
Diluted earnings per share-1.66 USD FiledFY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
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 ComputedFY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506

We publish no fair value or price target of our own. Value IXHL 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 Incannex Healthcare Limited today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Incannex Healthcare Limited: valuation
Share price2.88 USD
Market capitalisation34.5M USD
Enterprise value to EBITDAn/m
Graham numbern/m
Diluted earnings per share, FY2026-1.66 USD

Price to earnings on trailing twelve months: Fewer than twenty trading days carry a meaningful trailing price to earnings ratio, so no range is stated.

Companies like Incannex Healthcare Limited

  1. Rockwell Medical, Inc. (RMTI)Market cap 32.2M USD
  2. SCYNEXIS, Inc. (SCYX)Market cap 24.6M USD
  3. TherapeuticsMD, Inc. (TXMD)Market cap 22.3M USD
  4. Sonoma Pharmaceuticals, Inc. (SNOA)Market cap 5.5M USD
  5. Biofrontera Inc. (BFRI)Market cap 12.6M USD

Same industry (Drug Manufacturers - Specialty & Generic) and size band (Nano, under 50M), 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.

SEC filingComputed

Incannex Healthcare Limited: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield-38.4% ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
Free cash flow-12.9M USD ComputedFY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
Free cash flow margin
Why n/m

This company reported no revenue for the period, so every ratio measured against revenue is undefined. It is not a zero margin, it is the absence of a denominator. Cash runway is the measure that applies.

n/m ComputedFY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
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 · FY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
Payout ratio
Why n/a

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

n/a ComputedFY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
FY2017 Free cash flow: -2.7M AUDFY2017 Net income: -20.8M AUDFY2018 Free cash flow: -3.0M AUDFY2018 Net income: -2.9M AUDFY2019 Free cash flow: -2.2M AUDFY2019 Net income: -2.7M AUDFY2020 Free cash flow: -3.9M AUDFY2020 Net income: -4.7M AUDFY2021 Free cash flow: -6.9M AUDFY2021 Net income: -11.4M AUDFY2022 Free cash flow: -12.9M AUDFY2022 Net income: -14.9M AUDFY2023 Free cash flow: -11.1M AUDFY2023 Net income: -48.8M AUDFY2024 Free cash flow: -16.1M AUDFY2024 Net income: -18.5M AUDFY2025 Free cash flow: -12.5M AUDFY2025 Net income: -46.9M AUDFY2026 Free cash flow: -12.9M AUDFY2026 Net income: -19.3M AUD
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.

Incannex Healthcare Limited: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
n/mFY2026Oct 15, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
0.50xFY2026Oct 15, 2026
n/aFY2026Oct 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.
-38.4%FY2026Oct 15, 2026
n/aFY2026Sep 25, 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.
n/aFY2026Oct 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.
n/aFY2026Sep 25, 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.
48.81FY2026Sep 25, 2026
n/mFY2026Oct 15, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
n/mFY2026Oct 15, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
n/mFY2026Oct 15, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
n/mFY2026Sep 25, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
n/mFY2026Sep 25, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.

The figures are computed from the accounts for fiscal 2026, the newest full year on file. 4 filed fiscal years on record, FY2023 to FY2026, 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 fiscal years, FY2017 to FY2026. 4 read from the annual reports Incannex Healthcare Limited filed with the SEC, each naming its filing; the rest from statements that name none, which are market data. Amounts in the currency each report was stated in.

Incannex Healthcare Limited: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY20260.00 USD-23.0M USD-19.3M USD-1.66 USD-12.9M USDn/m-28.6%10-K, Sep 25, 20260001628280-26-063506
FY202586.0K USD-23.8M USD-46.9M USD-40.82 USD-12.5M USD-27661.6%-350.2%10-K, Sep 29, 20250001213900-25-092837
FY202412.0K USD-30.0M USD-18.5M USD-34.50 USD-16.1M USD-250341.7%-164.6%10-K, Sep 30, 20240001213900-24-082937
FY2023n/a-49.7M USD-48.8M USD-99.60 USD-11.1M USDn/a-234.4%10-K, Sep 30, 20240001213900-24-082937
FY2022785.2K AUD-11.4M AUD-14.9M AUDn/a-12.9M AUD-1445.7%-41.4%Market data, supplied Oct 15, 2026accession n/a
FY20211.9M AUD-11.4M AUD-11.4M AUDn/a-6.9M AUD-601.3%-132.7%Market data, supplied Oct 15, 2026accession n/a
FY2020599.7K AUD-4.1M AUD-4.7M AUDn/a-3.9M AUD-685.5%-148.4%Market data, supplied Oct 15, 2026accession n/a
FY20191.2M AUD-2.8M AUD-2.7M AUDn/a-2.2M AUD-236.6%n/mMarket data, supplied Oct 15, 2026accession n/a
FY20181.0M AUD-3.2M AUD-2.9M AUDn/a-3.0M AUD-317.9%n/mMarket data, supplied Oct 15, 2026accession n/a
FY2017283.0K AUD-21.0M AUD-20.8M AUDn/a-2.7M AUD-7429.9%n/mMarket data, supplied Oct 15, 2026accession n/a
  • Revenue: Revenue was not positive in both 2017 and 2026, so a compound rate across the window is not defined. Both figures are in the table.
  • Earnings: Earnings was not positive in both 2017 and 2026, 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 2023 and 2026, 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 2026, 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

Incannex Healthcare Limited: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score
Why n/m

This company reported no revenue for the period, so every ratio measured against revenue is undefined. It is not a zero margin, it is the absence of a denominator. Cash runway is the measure that applies.

n/m ComputedFY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
Piotroski F-score
Why n/m

This company reported no revenue for the period, so every ratio measured against revenue is undefined. It is not a zero margin, it is the absence of a denominator. Cash runway is the measure that applies.

n/m ComputedFY2026 10-K, filed Sep 25, 2026, 0001628280-26-063506
Named tests met2 of 30 Computed
Beta3.94 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 2 met, 11 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
Two thirds of NCAV (Benjamin Graham); Cheapest quarter on P/B (David Dreman)
Does not
Defensive investor (Benjamin Graham); Large cap, low P/E; High returns and growth; High yield, low payout; Dividends and buybacks; Low beta, profitable; High returns, low debt; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); 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); Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; ROIC at or above WACC; Near the 52-week low; Z-score and coverage (Edward Altman); P/E times P/B (Benjamin Graham); Book or below, low debt (Walter Schloss); Cash-covered dividend; Tangible book or below; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Low P/E, growth, yield (John Neff). A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(21)
  • 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.
  • Piotroski F-Score: This company reported no revenue for the period, so every ratio measured against revenue is undefined. It is not a zero margin, it is the absence of a denominator. Cash runway is the measure that applies.
  • 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: This company reported no revenue for the period, so every ratio measured against revenue is undefined. It is not a zero margin, it is the absence of a denominator. Cash runway is the measure that applies.
  • Beneish M-Score: This company reported no revenue for the period, so every ratio measured against revenue is undefined. It is not a zero margin, it is the absence of a denominator. Cash runway is the measure that applies.
  • 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.
  • Rev Growth 5Y: This company reported no revenue for the period, so every ratio measured against revenue is undefined. It is not a zero margin, it is the absence of a denominator. Cash runway is the measure that applies.
  • Gross Margin: This company reported no revenue for the period, so every ratio measured against revenue is undefined. It is not a zero margin, it is the absence of a denominator. Cash runway is the measure that applies.
  • Asset Turnover: This company reported no revenue for the period, so every ratio measured against revenue is undefined. It is not a zero margin, it is the absence of a denominator. Cash runway is the measure that applies.
  • EV/EBITDA: EBITDA is zero or negative, so a multiple of it is not meaningful.
  • Interest Coverage: The filing states no interest expense for this year, so coverage is not computed: with no interest bill there is nothing to cover.
  • 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.
  • P/S Ratio: This company reported no revenue for the period, so every ratio measured against revenue is undefined. It is not a zero margin, it is the absence of a denominator. Cash runway is the measure that applies.
  • Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Streak: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by 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.

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

More on this company

What this cannot tell you

  • 21 figures could not be read on this company, among them Debt to Equity, Piotroski F-Score, P/E Ratio. 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 4 filed fiscal years rather than 10, so the run above is shorter than a full decade and is counted as what it is.

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

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

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

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

Margin Notes

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

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ValueScreener

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

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

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

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