ValueScreener company report

Neptune Insurance Holdings Inc. (NP)

Name: Neptune Insurance Holdings Inc. (NP) filed financial figures
Creator: ValueScreener

NYSE / Technology / Software - Application

Share price

29.45 USD Market dataClose of Oct 15, 2026

Market capitalisation

2.76B USD Market dataClose of Oct 15, 2026

Market data: Oct 15, 2026
Filed accounts: FY2025, filed Feb 26, 2026
Ratios computed: Oct 15, 2026
Filed years: 3, FY2023 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 invested capital, after tax

n/a Computed

From the FY2025 filing

Why n/a

The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.

Read quality

Financial strength

Current ratio

0.99 Computed

From the FY2025 filing

Read financial strength

Valuation

Price to earnings

n/m Computed

FY2025 accounts, priced at the latest close

Why n/m

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

Read valuation

Cash generation

Free cash flow yield

n/a Computed

FY2025 accounts, priced at the latest close

Why n/a

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

Read cash generation

Revenue and net income, as filed

Revenue Net income3 filed fiscal years, from the annual reports; the table in Filings names each document.

Named tests met: 0 of 30 Which tests

The business, and the score behind its five axes

The reading, in brief

Is it safe: Interest coverage was 3.89x in FY2025, in the band labelled "Investment grade" (3.00x to 6.00x), on lines anchored on Damodaran's interest-coverage table.

Year by year against peers: Whether Neptune Insurance Holdings Inc.'s operating margin stayed above the median of the Software - Application industry, year by year. (FY2023 to FY2025, 3 fiscal years of Neptune Insurance Holdings Inc. with a comparable figure)
What could explain it: What in Neptune Insurance Holdings Inc.'s filed statements could explain the movements. (4 readings drawn from the statement lines Neptune Insurance Holdings Inc. filed)
What to check next: What to check next on Neptune Insurance Holdings Inc., and where in its filings. (3 questions for Neptune Insurance Holdings Inc.)
In one paragraph: One paragraph on Neptune Insurance Holdings Inc.'s returns, cash, balance sheet and price. (4 of sixteen figures read for Neptune Insurance Holdings Inc.)

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

Research NPPart 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 Feb 26, 2026, accession 0002067129-26-000007.

3 of 10

Quality

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

SEC filingComputed

Neptune Insurance Holdings Inc: returns on capital and margins, each with its source
Figure	Value, source and document
Return on invested capital, after tax Why n/a The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.	n/a ComputedFY2025 10-K, filed Feb 26, 2026, 0002067129-26-000007
Return on equity Why n/m Book equity is zero or negative. Return on equity computed over it flips sign and can read as a strong positive on a loss-making company, so we will not show a number.	n/m ComputedFY2025 10-K, filed Feb 26, 2026, 0002067129-26-000007
Return on capital employed, pre-tax	567.4% ComputedFY2025 10-K, filed Feb 26, 2026, 0002067129-26-000007
Return on assets	57.3% ComputedFY2025 10-K, filed Feb 26, 2026, 0002067129-26-000007
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 Feb 26, 2026, 0002067129-26-000007
Operating margin	44.5% ComputedFY2025 10-K, filed Feb 26, 2026, 0002067129-26-000007
Net margin	23.4% ComputedFY2025 10-K, filed Feb 26, 2026, 0002067129-26-000007

NP 23.4%

6.5%23.4%

Net margin: NP 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

Neptune Insurance Holdings Inc: leverage, liquidity and distress, each with its source
Figure	Value, source and document
Debt to equity Why n/m Filed shareholders equity is zero or below, so debt measured against it is not a measurement (n/m).	n/m ComputedFY2025 10-K, filed Feb 26, 2026, 0002067129-26-000007
Current ratio	0.99 ComputedFY2025 10-K, filed Feb 26, 2026, 0002067129-26-000007
Quick ratio	0.99 ComputedFY2025 10-K, filed Feb 26, 2026, 0002067129-26-000007
Interest coverage	3.89x ComputedFY2025 10-K, filed Feb 26, 2026, 0002067129-26-000007
Altman Z-score 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 Feb 26, 2026, 0002067129-26-000007
Net debt Why n/a The FY2025 balance sheet carries no net debt we could read.	n/a ComputedFY2025 10-K, filed Feb 26, 2026, 0002067129-26-000007

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

The balance sheet, line by line

Financial health

What Neptune Insurance Holdings Inc owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Feb 26, 2026, 0002067129-26-000007).

Neptune Insurance Holdings Inc: balance sheet position
Total assets	65.3M FiledFY2025 10-K, filed Feb 26, 2026
Total liabilities	292.8M FiledFY2025 10-K, filed Feb 26, 2026
Shareholders' equity	-227.5M FiledFY2025 10-K, filed Feb 26, 2026
Cash	8.0M FiledFY2025 10-K, filed Feb 26, 2026
Total debt	n/a FiledFY2025 10-K, filed Feb 26, 2026
Net debt	n/a
Current ratio	0.99
Debt to equity	n/m

Debt to equity: FY2025: Filed shareholders equity is zero or below, so debt measured against it is not a measurement (n/m).

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

Neptune Insurance Holdings Inc: what the market charges, each with its source
Figure	Value, source and document
Price to earnings Why n/m Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.	n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 26, 2026, 0002067129-26-000007
P/E on trailing twelve months	105.18x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book Why n/m Book equity is zero or negative, so a ratio measured against it (debt to equity, price to book) is not a measurement, and we will not show a number.	n/m ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 26, 2026, 0002067129-26-000007
Price to sales	19.29x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 26, 2026, 0002067129-26-000007
Enterprise value to EBIT Why n/a The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.	n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 26, 2026, 0002067129-26-000007
Enterprise value to EBITDA Why n/a The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.	n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 26, 2026, 0002067129-26-000007
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 Feb 26, 2026, 0002067129-26-000007
Diluted earnings per share	-0.26 USD FiledFY2025 10-K, filed Feb 26, 2026, 0002067129-26-000007
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 Feb 26, 2026, 0002067129-26-000007

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

Neptune Insurance Holdings Inc: valuation
Share price	29.45 USD
Market capitalisation	2.76B USD
Enterprise value to EBITDA	n/a
Graham number	n/m
Diluted earnings per share, FY2025	-0.26 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Jul 27, 2026: low 96.79x, median 112.16x, high 125.39x, latest 105.18x. 58 trading days with a meaningful ratio. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like Neptune Insurance Holdings Inc

Same industry (Software - Application) and size band (Mid, 2B to 10B), 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

Neptune Insurance Holdings Inc: cash generation and what is paid out, each with its source
Figure	Value, source and document
Free cash flow 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 Feb 26, 2026, 0002067129-26-000007
Free cash flow Why n/a The FY2025 filing carries no free cash flow we could read.	n/a ComputedFY2025 10-K, filed Feb 26, 2026, 0002067129-26-000007
Free cash flow margin Why n/a No free cash flow, and no operating cash flow and capital expenditure pair, is filed for this year.	n/a ComputedFY2025 10-K, filed Feb 26, 2026, 0002067129-26-000007
Dividend yield Why n/a No common dividend is on file for the year before, so one payment is not shown to be a run rate.	n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 26, 2026, 0002067129-26-000007
Payout ratio	467.8% ComputedFY2025 10-K, filed Feb 26, 2026, 0002067129-26-000007

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.

Neptune Insurance Holdings 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-KFiledFeb 26, 2026PeriodFY2025Accession0002067129-26-000007What we read from itIncome statementFY2025Open on SEC.gov, accession 0002067129-26-000007, 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.
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-KFiledFeb 26, 2026PeriodFY2025Accession0002067129-26-000007What we read from itBalance sheetFY2025Open on SEC.gov, accession 0002067129-26-000007, leaves this page and opens in a new tab
	n/a	FY2025	Oct 15, 2026
n/a The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
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-KFiledFeb 26, 2026PeriodFY2025Accession0002067129-26-000007What we read from itIncome statementFY2025Open on SEC.gov, accession 0002067129-26-000007, leaves this page and opens in a new tabForm10-KFiledFeb 26, 2026PeriodFY2025Accession0002067129-26-000007What we read from itBalance sheetFY2025Open on SEC.gov, accession 0002067129-26-000007, leaves this page and opens in a new tab
	n/a	FY2025	Oct 15, 2026
n/a The filed cash flow statement reports neither free cash flow nor the operating cash flow and capital spending it is built from.
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-KFiledFeb 26, 2026PeriodFY2025Accession0002067129-26-000007What we read from itCash flow statementFY2025Open on SEC.gov, accession 0002067129-26-000007, leaves this page and opens in a new tab
	n/a	FY2025	Feb 26, 2026
n/a The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
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-KFiledFeb 26, 2026PeriodFY2025Accession0002067129-26-000007What we read from itIncome statementFY2025Open on SEC.gov, accession 0002067129-26-000007, leaves this page and opens in a new tabForm10-KFiledFeb 26, 2026PeriodFY2025Accession0002067129-26-000007What we read from itBalance sheetFY2025Open on SEC.gov, accession 0002067129-26-000007, leaves this page and opens in a new tab
	n/a	FY2025	Oct 15, 2026
n/a No common dividend is on file for the year before, so one payment is not shown to be a run rate.
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-KFiledFeb 26, 2026PeriodFY2025Accession0002067129-26-000007What we read from itCash flow statementFY2025Open on SEC.gov, accession 0002067129-26-000007, leaves this page and opens in a new tab
	n/m	FY2025	Feb 26, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
FormulaTotal debt / shareholders equity As ofThe filing date of the statements below, for FY2025. Form10-KFiledFeb 26, 2026PeriodFY2025Accession0002067129-26-000007What we read from itBalance sheetFY2025Open on SEC.gov, accession 0002067129-26-000007, leaves this page and opens in a new tab
	0.99	FY2025	Feb 26, 2026
FormulaCurrent assets / current liabilities As ofThe filing date of the statements below, for FY2025. Form10-KFiledFeb 26, 2026PeriodFY2025Accession0002067129-26-000007What we read from itBalance sheetFY2025Open on SEC.gov, accession 0002067129-26-000007, leaves this page and opens in a new tab
	19.29x	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-KFiledFeb 26, 2026PeriodFY2025Accession0002067129-26-000007What we read from itIncome statementFY2025Open on SEC.gov, accession 0002067129-26-000007, 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-KFiledFeb 26, 2026PeriodFY2025Accession0002067129-26-000007What we read from itIncome statementFY2025Open on SEC.gov, accession 0002067129-26-000007, leaves this page and opens in a new tab
	n/a	FY2025	Oct 15, 2026
n/a We hold no figure here and no stored reason for its absence. The gap is ours, not the company's.
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-KFiledFeb 26, 2026PeriodFY2025Accession0002067129-26-000007What we read from itIncome statementFY2025Open on SEC.gov, accession 0002067129-26-000007, leaves this page and opens in a new tabForm10-KFiledFeb 26, 2026PeriodFY2025Accession0002067129-26-000007What we read from itBalance sheetFY2025Open on SEC.gov, accession 0002067129-26-000007, leaves this page and opens in a new tab
	-1.50	FY2025	Feb 26, 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-KFiledFeb 26, 2026PeriodFY2025Accession0002067129-26-000007What we read from itIncome statementFY2025Open on SEC.gov, accession 0002067129-26-000007, leaves this page and opens in a new tabForm10-KFiledFeb 26, 2026PeriodFY2025Accession0002067129-26-000007What we read from itBalance sheetFY2025Open on SEC.gov, accession 0002067129-26-000007, leaves this page and opens in a new tabForm10-KFiledFeb 26, 2026PeriodFY2025Accession0002067129-26-000007What we read from itCash flow statementFY2025Open on SEC.gov, accession 0002067129-26-000007, leaves this page and opens in a new tab
	4/9	FY2025	Feb 26, 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-KFiledFeb 26, 2026PeriodFY2025Accession0002067129-26-000007What we read from itIncome statementFY2025Open on SEC.gov, accession 0002067129-26-000007, leaves this page and opens in a new tabForm10-KFiledFeb 26, 2026PeriodFY2025Accession0002067129-26-000007What we read from itBalance sheetFY2025Open on SEC.gov, accession 0002067129-26-000007, leaves this page and opens in a new tabForm10-KFiledFeb 26, 2026PeriodFY2025Accession0002067129-26-000007What we read from itCash flow statementFY2025Open on SEC.gov, accession 0002067129-26-000007, 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. 3 filed fiscal years on record, FY2023 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

3 filed fiscal years, FY2023 to FY2025, read from the annual reports Neptune Insurance Holdings Inc filed with the SEC. Each year names its filing. Amounts in USD, as filed.

Neptune Insurance Holdings Inc: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
Year	Revenue	Operating income	Net income	EPS, diluted	Free cash flow	Operating margin	Return on equity	Filing
FY2025	159.6M	71.0M	37.4M	-0.26	n/a	44.5%	n/m	10-K, Feb 26, 20260002067129-26-000007
FY2024	119.3M	68.4M	34.6M	0.16	n/a	57.4%	n/m	10-K, Feb 26, 20260002067129-26-000007
FY2023	84.9M	45.4M	17.9M	0.10	n/a	53.5%	n/a	10-K, Feb 26, 20260002067129-26-000007

Revenue, compound annual growth FY2023 to FY2025: 37.1%
Earnings, compound annual growth FY2023 to FY2025: 44.6%
Earnings per share: Earnings per share was not positive in both 2023 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
Free cash flow: Fewer than two filed years carry free cash flow.

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

Neptune Insurance Holdings Inc: accounting screens and published tests, each with its source
Figure	Value, source and document
Beneish M-score	-1.50 ComputedFY2025 10-K, filed Feb 26, 2026, 0002067129-26-000007
Piotroski F-score	4/9 ComputedFY2025 10-K, filed Feb 26, 2026, 0002067129-26-000007
Named tests met	0 of 30 Computed
Beta Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 0 met, 15 not met, 15 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)

Meets: None of the named tests.
Does not: Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; High F-score, low P/B (Joseph Piotroski); Three forensic scores; High yield, low payout; Dividends and buybacks; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); High returns, low debt; Owner earnings yield; Low P/S, rising earnings (James O'Shaughnessy); Tangible book or below; Clean books, high ROIC
Not measured: Earnings yield and ROIC (Joel Greenblatt); Low PEG, low debt (Peter Lynch); High returns and growth; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; Low beta, profitable; ROIC at or above WACC; P/E times P/B (Benjamin Graham); High return on tangibles; Book or below, low debt (Walter Schloss); Cash-covered dividend; Cash-flow yield and ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff). A test with a figure we could not read is incomplete, never met and never failed.

Figures we could not read(21)

Debt to Equity: Filed shareholders equity is zero or below, so debt measured against it is not a measurement (n/m).
P/B Ratio: Book equity is zero or negative, so a ratio measured against it (debt to equity, price to book) is not a measurement, and we will not show a number.
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: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
Return on Invested Capital: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
Altman Z-Score: We do not hold this figure for this company, so there is nothing to show.
PEG Ratio: Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.
Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
Return on Equity: Book equity is zero or negative. Return on equity computed over it flips sign and can read as a strong positive on a loss-making company, so we will not show a number.
Rev Growth 5Y: 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: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
Dividend Yield: No common dividend is on file for the year before, so one payment is not shown to be a run rate.
Free Cash Flow Yield: We do not hold this figure for this company, so there is nothing to show.
Beta: We do not hold this figure for this company, so there is nothing to show.
ROIC-WACC Spread: The debt total on file was summed from short-term debt, long-term debt and lease obligations, and at least one of those was never captured. An absent term is spent as a zero inside that sum, and this balance sheet does not show the term is empty, so we will not build a leverage ratio, an enterprise value or a return on capital on it, or rank the company on one.
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.
Capex To Ocf: We do not hold this figure for this company, so there is nothing to show.
Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.
Dividend Streak: The stored figure is a zero that can stand for data we do not hold, so this test is not measured.
Price Tangible Book: Book equity is zero or negative, so a ratio measured against it (debt to equity, price to book) is not a measurement, and we will not show a number.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by 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

21 figures could not be read on this company, among them Debt to Equity, P/B Ratio, P/E Ratio. Each blank in the table above names the rest, with its reason. 15 named tests come back incomplete because of them, which is neither met nor missed.
We hold 3 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

Companies like Neptune Insurance Holdings Inc

The filed figures

Ten years of filed figures

The named tests

What this cannot tell you

Margin Notes