I3 Verticals, Inc.

Consumer Discretionary
Business Services
www.i3verticals.com

Earnings Score
Moat Score
Safety Score

Market Cap $619.17M
PE 5
Debt $52.45M
Cash $89.21M
EV $582.40M
FCF $44.12M

Earnings

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Sales & Net Margins

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Earnings	$114.30M
EBIT	$2.17M
ROE	22%
ROA	0%
FCF	$44.12M
Equity	$511.13M
Growth Stability	1
PE	5.42
PB	1.21
P/FCF	14.03
P/S	2.62
Price/Cash	0.14
Debt/Equity	0.1
Debt/FCF	1.19
Net Margins	3%
Op. Margins	1%
Earnings CAGR	5%
Sales Growth YoY	12%
Sales Growth QoQ	1%
Sales CAGR	4%
FCF CAGR	18%
Equity CAGR	40%
Earnings Stability	-0.07
Earnings Growth YoY	87%
Earnings Growth QoQ	-98%

Sales CAGR 5Y	12%
FCF CAGR 5Y	8%
Equity CAGR 5Y	18%
Earnings CAGR 3Y	-6%
Sales CAGR 3Y	-6%
FCF CAGR 3Y	-8%
Equity CAGR 3Y	20%
Market Cap	$619.17M
Revenue	$236.56M
Assets	$726.23M
Total Debt	$52.45M
Cash	$89.21M
Shares Outstanding	23.55M
EV	582.4M
Earnings Score	6%
Moat Score	60%
Safety Score	96%
Final Score	54%
Working Capital	-10.33M
Current Ratio	0.94
Shares Growth 3y	2%
Equity Growth QoQ	-1%
Equity Growth YoY	52%

Assets & ROA

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Stockholders Equity & ROE

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i3 Verticals Inc offers integrated payment and software solutions to small and medium-sized businesses and organizations in strategic vertical markets. Its operating segment includes Merchant Services and Proprietary Software and Payments. The company generates maximum revenue from the Proprietary Software and Payments. The company's strategic vertical market includes schools, the public sector, not-for-profit organizations, and healthcare. It provides various solutions such as event management, gateway, payment processing, online payment, gift and loyalty programs, among others.

SEC Filings

Direct access to I3 Verticals, Inc. (IIIV) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Dec 31
- 10-K Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-Q Dec 31
- 10-K Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-Q Dec 31
- 10-K Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does I3 Verticals, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of I3 Verticals, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 5%

Stability -7%

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I3 Verticals, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for I3 Verticals, Inc..

Years

Calculation mode

= $1.6B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$44M	$52M	$62M	$73M	$87M	$103M	$122M	$144M	$171M	$202M	$239M	$2.4B
DCF		$47M	$51M	$55M	$59M	$64M	$69M	$74M	$80M	$86M	$92M	$922M
Value	$1.6B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	09/2016	09/2017	09/2018	09/2019	09/2020	09/2021	09/2022	09/2023	09/2024	TTM
Net Margins	-1%	0%	-2%	-1%	-1%	-3%	-7%	-1%	49%	3%
ROA	-	5%	7%	2%	2%	-0%	-0%	3%	1%	0%
ROE	-	2%	-6%	-2%	-0%	-3%	-8%	-1%	22%	22%

Bad Net Margins (3.33%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	09/2016	09/2017	09/2018	09/2019	09/2020	09/2021	09/2022	09/2023	09/2024	TTM
Debt over FCF	-	14.93	2.63	5.4	4.36	4.47	6.59	12.71	1.15	1.19
Debt over Equity	-	3.18	0.37	0.98	0.38	0.69	0.93	1.17	0.1	0.1
Growth Stability	-	-	-	-	-	-	-	-	-	1

Good Debt/FCF ratio (1.19)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.1)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (1)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	09/2016	09/2017	09/2018	09/2019	09/2020	09/2021	09/2022	09/2023	09/2024	CAGR 5Y
Revenue YoY growth	-	32%	23%	16%	-60%	49%	42%	16%	-38%	12%
Earnings YoY growth	-	-143%	-865%	-56%	-68%	701%	196%	-89%	-4K%	-
Equity YoY growth	-	-480%	210%	27%	69%	21%	6%	7%	57%	18%
FCF YoY growth	-	-16%	106%	63%	-19%	115%	-3%	-30%	50%	8%