undamentalytics Newsletter
Sign in

I3 Verticals, Inc. key statistics and ratios

In fiscal 2025, I3 Verticals, Inc. had return on equity of 4.6% and a net margin of 8.4%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2016Sept 20162017Sept 20172018Sept 20182019Sept 20192020Sept 20202021Sept 20212022Sept 20222023Sept 20232024Sept 20242025Sept 2025LTMJun 2026
Net margin−1.0%0.3%−2.1%−0.8%−0.3%−2.0%−9.1%−0.4%59.3%8.4%3.9%
Return on equity——−17.6%−5.1%−0.4%−2.5%−8.1%−0.4%36.8%4.6%2.5%
Return on assets−2.1%0.8%−4.4%−1.2%−0.1%−0.8%−2.4%−0.1%14.0%2.6%1.3%
Effective tax rate—16.4%—−45.9%—————48.4%29.6%
SG&A as % of revenue10.2%10.4%12.5%16.7%52.2%60.2%83.4%55.9%52.7%53.8%52.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 6 checks passed · June 30, 2026
What it owns · $627m
Short-term assets $63mLonger-term assets $564m
What it owes, and who funded it · $507m
Short-term liabilities $53mLonger-term liabilities $174mShareholders' equity $281m
  • Short-term assets cover short-term liabilities $63m of assets due within a year against $53m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $63m short-term assets against $174m of longer-dated liabilities.
  • More cash than debt $3m of cash against $114m of debt.
  • Debt below 40% of shareholders' equity Debt is 41% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 124% to 41% over five years.
  • A year's operating cash flow covers at least 20% of debt $52m of operating cash flow against $114m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From I3 Verticals, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

42 /100

Weak moat

How hard I3 Verticals's competitive advantage looks for rivals to wear away, judged from 9 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 18 / 20

    Cash operating profit has been a median 13.5% of total assets over 6 years.

  • Pricing power 11 / 20

    Gross margin has been a median 56.2%, moving by 27.5 percentage points (standard deviation) across 5 years.

  • Durability 0 / 20

    Operating margin has been a median 2.3%; its worst year was -14.8%.

  • Cash conversion 17 / 20

    Free cash flow was positive in 9 of 9 years, at a median 14.8% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (57 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: AI vs IIIVIIIV vs SOUNGCL vs IIIV

More: Application Software stocks compared, Technology sector, rankings of US companies

Figures from I3 Verticals, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to I3 Verticals, Inc.