Visa Inc.VNYSE
Debt/Equity stays at or below 0.8. It has not broken in 12 filed years.
Today it reads 0.64x. Tested against 12 filed years.
Named tests met2 of 30
425.55 USD Market data. Sources for Share price
Close of Nov 11, 2026Market data as of Nov 11, 2026. Ratios computed Nov 11, 2026.
ValueScreener company report
NYSE / Financial Services / Financial - Credit Services
Reading
The evidence behind it
Overview
Market dataSEC filingComputed
Four questions, at a glance
Quality
Return on invested capital, after tax
51.0% Computed
From the FY2026 filing
Valuation
Price to earnings
33.78x Computed
FY2026 accounts, priced at 21:00 UTC
Cash generation
Free cash flow yield
2.8% Computed
FY2026 accounts, priced at 21:00 UTC
Strength
Debt to equity
0.64 Computed
From the FY2026 filing
Revenue and net income, as filed
- Market capitalisation
794.00B USD Market data. Sources for Market capitalisation
21:00 UTC- Filed accounts
- FY2026, filed Nov 5, 2026
- Filed years
- 12, FY2015 to FY2026
The business, and the score behind its five axes
The reading, in brief
- Is it cheap
Price to earnings is 33.78x at the close of 2026-11-11 on FY2026 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 25.00x and 40.00x.
Today, against the Financial - Credit Services industry (43 companies), 33.78x sits at the 88th percentile; the middle half of that group runs from 4.83x to 20.43x.
- Is it good
Return on invested capital was 51.0% in FY2026, in the band labelled "Exceptional" (20.0% and above), on lines anchored on Damodaran's cost-of-capital data, suggesting returns on the capital in the business well above the usual cost of that capital.
Today, against the Financial Services sector (77 companies), 51.0% sits at the 94th percentile; the middle half of that group runs from -0.5% to 9.2%.
- Is it safe
Interest coverage was 37.08x in FY2026, in the band labelled "Comfortable" (6.00x and above), on lines anchored on Damodaran's interest-coverage table, suggesting an interest bill operating profit covers many times over.
- Year by year against peers
- Whether Visa Inc.'s return on equity stayed above the median of the Financial - Credit Services industry, year by year. (FY2017 to FY2025, 9 fiscal years of Visa Inc. with a comparable figure)
- The direction
- Which way Visa Inc.'s return on equity has moved, and how steadily. (FY2017 to FY2026, 10 filed years of Visa Inc.)
- What could explain it
- What in Visa Inc.'s filed statements could explain the movements. (4 readings drawn from the statement lines Visa Inc. filed)
- What to check next
- What to check next on Visa Inc., and where in its filings. (4 questions for Visa Inc.)
- In one paragraph
- One paragraph on Visa Inc.'s returns, cash, balance sheet and price. (13 of sixteen figures read for Visa Inc.)
These are V’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.
Research VPart of Serious. New accounts start with 30 days of Professional, free, no card.
What changed
SEC filingCompany statement
The newest accounts on file are the FY2026 annual report: 10-K, filed Nov 5, 2026, accession 0001403161-26-000134.
Quality
The returns the business earns on its capital, and the margins behind them.
SEC filingComputed
| Figure | Value, source and document |
|---|---|
| Return on invested capital, after tax | 51.0% Computed. Sources for Return on invested capital, after taxFY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
| Return on equity | 65.1% Computed. Sources for Return on equityFY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
| Return on capital employed, pre-tax | 44.8% Computed. Sources for Return on capital employed, pre-taxFY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
| Return on assets | 24.9% Computed. Sources for Return on assetsFY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
Gross marginWhy n/aOur 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 Computed. Sources for Gross marginFY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
| Operating margin | 61.2% Computed. Sources for Operating marginFY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
| Net margin | 51.2% Computed. Sources for Net marginFY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
V 51.2%
45.6%51.2%
Financial strength
What it owes against what it owns, and whether it can meet what falls due.
SEC filingComputedCompany statement
| Figure | Value, source and document |
|---|---|
| Debt to equity | 0.64 Computed. Sources for Debt to equityFY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
| Current ratio | 0.97 Computed. Sources for Current ratioFY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
| Quick ratio | 0.97 Computed. Sources for Quick ratioFY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
| Interest coverage | 37.08x Computed. Sources for Interest coverageFY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
Altman Z-scoreWhy n/mAltman's Z-Score was estimated on manufacturers and explicitly excludes financial firms. A financial company scores in the distress zone by construction, so the number would be wrong rather than alarming. Not applicable to financials. | n/m Computed. Sources for Altman Z-score21:00 UTC · FY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
| Net debt | 10.02B Computed. Sources for Net debtFY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
The balance sheet, line by line
Financial health
What Visa Inc owned and owed at the end of fiscal 2026, from the balance sheet it filed (10-K, filed Nov 5, 2026, 0001403161-26-000134).
| Total assets | 94.36B Filed. Sources for Total assetsFY2026 10-K, filed Nov 5, 2026 |
|---|---|
| Total liabilities | 58.25B Filed. Sources for Total liabilitiesFY2026 10-K, filed Nov 5, 2026 |
| Shareholders' equity | 36.11B Filed. Sources for Shareholders' equityFY2026 10-K, filed Nov 5, 2026 |
| Cash | 12.94B Filed. Sources for CashFY2026 10-K, filed Nov 5, 2026 |
| Total debt | 22.95B Filed. Sources for Total debtFY2026 10-K, filed Nov 5, 2026 |
| Net debt | 10.02B |
| Current ratio | 0.97 |
| Debt to equity | 0.64 |
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.
Valuation context
Market dataSEC filingComputed
| Figure | Value, source and document |
|---|---|
| Price to earnings | 33.78x Computed. Sources for Price to earnings21:00 UTC · FY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
P/E on trailing twelve monthsWhy n/aA trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer. | n/a Computed. Sources for P/E on trailing twelve monthsClose of Nov 11, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings |
| Price to book | 21.99x Computed. Sources for Price to book21:00 UTC · FY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
| Price to sales | 17.30x Computed. Sources for Price to sales21:00 UTC · FY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
| Enterprise value to EBIT | 28.60x Computed. Sources for Enterprise value to EBIT21:00 UTC · FY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
| Enterprise value to EBITDA | 27.24x Computed. Sources for Enterprise value to EBITDAClose of Nov 11, 2026 · FY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
Price to earnings over growthWhy n/aWe do not hold this figure for this company, so there is nothing to show. | n/a Computed. Sources for Price to earnings over growth21:00 UTC · FY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
Diluted earnings per shareWhy n/aThe FY2026 filing carries no diluted earnings per share we could read. | n/a Filed. Sources for Diluted earnings per shareFY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
Graham numberWhy n/aWe do not hold this figure for this company, so there is nothing to show. | n/a Computed. Sources for Graham numberFY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
We publish no fair value or price target of our own. Value V 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 Visa Inc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.
| Share price | 425.55 USD |
|---|---|
| Market capitalisation | 794.00B USD |
| Enterprise value to EBITDA | 27.24x |
| Graham number | n/a |
| Diluted earnings per share | n/a |
Price to earnings on trailing twelve months: A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.
Companies like Visa Inc
Same industry (Financial - Credit Services) and size band (Mega, 200B and over), 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.
Cash generation
SEC filingComputed
| Figure | Value, source and document |
|---|---|
| Free cash flow yield | 2.8% Computed. Sources for Free cash flow yield21:00 UTC · FY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
| Free cash flow | 22.06B USD Computed. Sources for Free cash flowFY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
| Free cash flow margin | 48.0% Computed. Sources for Free cash flow marginFY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
| Dividend yield | 0.7% Computed. Sources for Dividend yield21:00 UTC · FY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
Payout ratioWhy n/aWe do not hold this figure for this company, so there is nothing to show. | n/a Computed. Sources for Payout ratioFY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
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.
| Figure | Value | Year | As of |
|---|---|---|---|
| 33.78x | FY2026 | Nov 11, 2026 | |
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 Nov 11, 2026, over the filed figures of FY2026: a price is in this figure, and it moved after the filing. Form10-KFiledNov 5, 2026PeriodFY2026Accession0001403161-26-000134What we read from itIncome statementFY2026Open on SEC.gov, accession 0001403161-26-000134, leaves this page and opens in a new tab | |||
| 21.99x | FY2026 | Nov 11, 2026 | |
FormulaMarket capitalisation / shareholders equity As ofThe close on Nov 11, 2026, over the filed figures of FY2026: a price is in this figure, and it moved after the filing. Form10-KFiledNov 5, 2026PeriodFY2026Accession0001403161-26-000134What we read from itBalance sheetFY2026Open on SEC.gov, accession 0001403161-26-000134, leaves this page and opens in a new tab | |||
| 28.60x | FY2026 | Nov 11, 2026 | |
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 Nov 11, 2026, over the filed figures of FY2026: a price is in this figure, and it moved after the filing. Form10-KFiledNov 5, 2026PeriodFY2026Accession0001403161-26-000134What we read from itIncome statementFY2026Open on SEC.gov, accession 0001403161-26-000134, leaves this page and opens in a new tabForm10-KFiledNov 5, 2026PeriodFY2026Accession0001403161-26-000134What we read from itBalance sheetFY2026Open on SEC.gov, accession 0001403161-26-000134, leaves this page and opens in a new tab | |||
| 2.8% | FY2026 | Nov 11, 2026 | |
FormulaFree cash flow per share / share price x 100 As ofThe close on Nov 11, 2026, over the filed figures of FY2026: a price is in this figure, and it moved after the filing. Form10-KFiledNov 5, 2026PeriodFY2026Accession0001403161-26-000134What we read from itCash flow statementFY2026Open on SEC.gov, accession 0001403161-26-000134, leaves this page and opens in a new tab | |||
| 51.0% | FY2026 | Nov 5, 2026 | |
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 FY2026. Form10-KFiledNov 5, 2026PeriodFY2026Accession0001403161-26-000134What we read from itIncome statementFY2026Open on SEC.gov, accession 0001403161-26-000134, leaves this page and opens in a new tabForm10-KFiledNov 5, 2026PeriodFY2026Accession0001403161-26-000134What we read from itBalance sheetFY2026Open on SEC.gov, accession 0001403161-26-000134, leaves this page and opens in a new tab | |||
| 0.7% | FY2026 | Nov 11, 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 Nov 11, 2026, over the filed figures of FY2026: a price is in this figure, and it moved after the filing. Form10-KFiledNov 5, 2026PeriodFY2026Accession0001403161-26-000134What we read from itCash flow statementFY2026Open on SEC.gov, accession 0001403161-26-000134, leaves this page and opens in a new tab | |||
| 0.64 | FY2026 | Nov 5, 2026 | |
FormulaTotal debt / shareholders equity As ofThe filing date of the statements below, for FY2026. Form10-KFiledNov 5, 2026PeriodFY2026Accession0001403161-26-000134What we read from itBalance sheetFY2026Open on SEC.gov, accession 0001403161-26-000134, leaves this page and opens in a new tab | |||
| 0.97 | FY2026 | Nov 5, 2026 | |
FormulaCurrent assets / current liabilities As ofThe filing date of the statements below, for FY2026. Form10-KFiledNov 5, 2026PeriodFY2026Accession0001403161-26-000134What we read from itBalance sheetFY2026Open on SEC.gov, accession 0001403161-26-000134, leaves this page and opens in a new tab | |||
| 17.30x | FY2026 | Nov 11, 2026 | |
FormulaMarket capitalisation / revenue As ofThe close on Nov 11, 2026, over the filed figures of FY2026: a price is in this figure, and it moved after the filing. Form10-KFiledNov 5, 2026PeriodFY2026Accession0001403161-26-000134What we read from itIncome statementFY2026Open on SEC.gov, accession 0001403161-26-000134, leaves this page and opens in a new tab | |||
| n/a | FY2026 | Nov 11, 2026 | |
| n/a The filed income statement reports no earnings per share. | |||
FormulaPrice to earnings / the annual earnings growth rate, in percentage points As ofThe close on Nov 11, 2026, over the filed figures of FY2026: a price is in this figure, and it moved after the filing. Form10-KFiledNov 5, 2026PeriodFY2026Accession0001403161-26-000134What we read from itIncome statementFY2026Open on SEC.gov, accession 0001403161-26-000134, leaves this page and opens in a new tab | |||
| n/m | FY2026 | Nov 11, 2026 | |
| n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT. | |||
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 Nov 11, 2026, over the filed figures of FY2026: a price is in this figure, and it moved after the filing. Form10-KFiledNov 5, 2026PeriodFY2026Accession0001403161-26-000134What we read from itIncome statementFY2026Open on SEC.gov, accession 0001403161-26-000134, leaves this page and opens in a new tabForm10-KFiledNov 5, 2026PeriodFY2026Accession0001403161-26-000134What we read from itBalance sheetFY2026Open on SEC.gov, accession 0001403161-26-000134, leaves this page and opens in a new tab | |||
| -2.32 | FY2026 | Nov 5, 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 FY2026. Form10-KFiledNov 5, 2026PeriodFY2026Accession0001403161-26-000134What we read from itIncome statementFY2026Open on SEC.gov, accession 0001403161-26-000134, leaves this page and opens in a new tabForm10-KFiledNov 5, 2026PeriodFY2026Accession0001403161-26-000134What we read from itBalance sheetFY2026Open on SEC.gov, accession 0001403161-26-000134, leaves this page and opens in a new tabForm10-KFiledNov 5, 2026PeriodFY2026Accession0001403161-26-000134What we read from itCash flow statementFY2026Open on SEC.gov, accession 0001403161-26-000134, leaves this page and opens in a new tab | |||
| 5/9 | FY2026 | Nov 5, 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 FY2026. Form10-KFiledNov 5, 2026PeriodFY2026Accession0001403161-26-000134What we read from itIncome statementFY2026Open on SEC.gov, accession 0001403161-26-000134, leaves this page and opens in a new tabForm10-KFiledNov 5, 2026PeriodFY2026Accession0001403161-26-000134What we read from itBalance sheetFY2026Open on SEC.gov, accession 0001403161-26-000134, leaves this page and opens in a new tabForm10-KFiledNov 5, 2026PeriodFY2026Accession0001403161-26-000134What we read from itCash flow statementFY2026Open on SEC.gov, accession 0001403161-26-000134, leaves this page and opens in a new tab | |||
| 425.55 USD | n/a | Nov 11, 2026 | |
FormulaThe last close we hold, in the currency the listing trades in. As ofThe close on Nov 11, 2026, over the filed figures of n/a: a price is in this figure, and it moved after the filing. | |||
| 25.6% | n/a | Nov 11, 2026 | |
Formula(price now - price a year ago) / price a year ago. It counts no dividend, so a high payer reads lower here than a holder's own return. As ofThe close on Nov 11, 2026, over the filed figures of n/a: a price is in this figure, and it moved after the filing. | |||
The figures are computed from the accounts for fiscal 2026, the newest full year on file. 12 filed fiscal years on record, FY2015 to FY2026, from SEC EDGAR. Prices as of Nov 11, 2026. Ratios recomputed Nov 11, 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, FY2017 to FY2026, read from the annual reports Visa Inc filed with the SEC. Each year names its filing. Amounts in USD, as filed.
| Year | Revenue | Operating income | Net income | EPS, diluted | Free cash flow | Operating margin | Return on equity | Filing |
|---|---|---|---|---|---|---|---|---|
| FY2026 | 45.90B | 28.11B | 23.50B | n/a | 22.06B | 61.2% | 65.1% | 10-K, Nov 5, 20260001403161-26-000134 |
| FY2025 | 40.00B | 23.99B | 20.06B | n/a | 21.58B | 60.0% | 52.9% | 10-K, Nov 6, 20250001403161-25-000089 |
| FY2024 | 35.93B | 23.59B | 19.74B | n/a | 18.69B | 65.7% | 50.5% | 10-K, Nov 13, 20240001403161-24-000058 |
| FY2023 | 32.65B | 21.00B | 17.27B | n/a | 19.70B | 64.3% | 44.6% | 10-K, Nov 15, 20230001403161-23-000099 |
| FY2022 | 29.31B | 18.81B | 14.96B | n/a | 17.88B | 64.2% | 42.0% | 10-K, Nov 16, 20220001403161-22-000081 |
| FY2021 | 24.11B | 15.80B | 12.31B | n/a | 14.52B | 65.6% | 32.8% | 10-K, Nov 18, 20210001403161-21-000060 |
| FY2020 | 21.85B | 14.08B | 10.87B | n/a | 9.70B | 64.5% | 30.0% | 10-K, Nov 19, 20200001403161-20-000070 |
| FY2019 | 22.98B | 15.00B | 12.08B | n/a | 12.03B | 65.3% | 34.8% | 10-K, Nov 14, 20190001403161-19-000050 |
| FY2018 | 20.61B | 12.95B | 10.30B | n/a | 12.22B | 62.9% | 30.3% | 10-K, Nov 16, 20180001403161-18-000055 |
| FY2017 | 18.36B | 12.14B | 6.70B | n/a | 8.61B | 66.2% | 20.4% | 10-K, Nov 17, 20170001403161-17-000044 |
- Revenue, compound annual growth FY2017 to FY2026: 10.7%
- Earnings, compound annual growth FY2017 to FY2026: 15.0%
- Earnings per share: Fewer than two filed years carry earnings per share.
- Free cash flow, compound annual growth FY2017 to FY2026: 11.0%
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.
Risks and guardrails
The accounting screens, the published tests, and the lines you can set to be told.
ComputedCompany statement
| Figure | Value, source and document |
|---|---|
| Beneish M-score | -2.32 Computed. Sources for Beneish M-scoreFY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
| Piotroski F-score | 5/9 Computed. Sources for Piotroski F-scoreFY2026 10-K, filed Nov 5, 2026, 0001403161-26-000134 |
| Named tests met | 2 of 30 Computed. Sources for Named tests met |
| Beta | 0.69 Computed. Sources for Beta21:00 UTC |
The named tests
Of 30 tests value investors published: 2 met, 26 not met, 2 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
- ROIC at or above WACC; High return on tangibles
- Does not
- Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); 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; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Cash-flow yield and ROIC; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
- Not measured
- P/E times P/B (Benjamin Graham); Cash-covered dividend. A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(11)
- Current Ratio: Graham set this test for industrial companies.
- Positive Earnings Streak: The latest filed year has no per-share earnings we can read; the test needs 10.
- Altman Z-Score: Altman's Z-Score was estimated on manufacturers and explicitly excludes financial firms. A financial company scores in the distress zone by construction, so the number would be wrong rather than alarming. Not applicable to financials.
- PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
- 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.
- Payout Ratio: We do not hold this figure for this company, so there is nothing to show.
- Share Count Change Yoy: We do not hold this figure for this company, so there is nothing to show.
- Price To Graham: 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.
- Price Tangible Book: We do not hold this figure for this company, so there is nothing to show.
Declared positions
Whether anybody here owns this company.
Positions declared by Javier Sanz Alvarez: no holding in any company shown here, as of October 3, 2026.
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
- 11 figures could not be read on this company, among them Current Ratio, Positive Earnings Streak, Altman Z-Score. Each blank in the table above names the rest, with its reason. 2 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.
Then we check your line against newly filed data and write to you the night our data shows it broke. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published. It is Professional, the plan a new account starts on for 30 days, one trial per person.
No card. 30 free days, and nothing is charged unless you choose a plan.
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, and what it can mean for a thesis.