i3 Verticals, Inc. (IIIV) Key Metrics
IIIV valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $580.2M
- Enterprise value
- $388.3M
- P/E (TTM)
- 57.5
- Forward P/E
- 19.2
- PEG ratio
- 1.24
- Price / sales
- 2.7 10-yr median 2.4
- Price / book
- 1.0 10-yr median 2.4
- EV / EBITDA
- 8.1 10-yr median 22.2
- Dividend yield
- —
- Beta
- 0.78
IIIV key metrics, FY2016–FY2025
Fiscal year ended September 30, 2025 · U.S. dollarsIIIV valuation Price multiples at each fiscal year-end price.
IIIV returns How much profit the business earns on the capital it uses.
IIIV per-share figures Results divided by the shares outstanding at year-end.
IIIV financial health Debt, liquidity and how easily interest is covered.
IIIV efficiency & capital use Working capital cycle and where the cash goes.
IIIV valuation history
IIIV returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
IIIV debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
IIIV cash returned to shareholders
IIIV price vs earnings per share
IIIV key metrics
FY2016–FY2025| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.11B | $520.5M | $702.8M | $445.7M | $767.8M | $374.5M | $211.1M | $215.0M | — | — |
| Enterprise value | $1.05B | $472.3M | $1.10B | $747.8M | $979.9M | $465.6M | $366.0M | $251.2M | — | — |
| P/E ratio | 62.1 | 4.6 | — | — | — | — | — | — | — | — |
| Price / sales | 5.2 | 2.3 | 3.7 | 2.4 | 3.4 | 2.5 | 0.6 | 0.7 | — | — |
| Price / book | 2.8 | 1.4 | 3.0 | 2.0 | 3.7 | 1.6 | 1.5 | 5.5 | — | — |
| Price / free cash flow | 295.7 | 15.6 | 33.8 | 13.3 | 19.9 | 21.1 | 9.0 | 15.8 | — | — |
| Price / operating cash flow | 194.9 | 10.8 | 18.9 | 9.7 | 16.4 | 15.8 | 7.9 | 11.9 | — | — |
| EV / sales | 4.9 | 2.1 | 5.8 | 4.0 | 4.4 | 3.1 | 1.0 | 0.8 | — | — |
| EV / EBITDA | 24.4 | 10.1 | 33.1 | 24.6 | 36.3 | 19.9 | 15.9 | 16.0 | — | — |
| EV / free cash flow | 280.0 | 14.1 | 52.9 | 22.4 | 25.4 | 26.2 | 15.6 | 18.5 | — | — |
| Earnings yield | 1.6% | 21.8% | −0.1% | −3.8% | −0.6% | −0.1% | −1.4% | −3.2% | — | — |
| Free cash flow yield | 0.3% | 6.4% | 3.0% | 7.5% | 5.0% | 4.7% | 11.1% | 6.3% | — | — |
| Dividend yield | — | — | 0.0% | 0.1% | 0.1% | 86.9% | 89.6% | 24.3% | — | — |
| Shareholder yield (dividends + buybacks) | 3.4% | 0.1% | 0.1% | 0.3% | 0.2% | 89.8% | 132.3% | 26.4% | — | — |
| Share price at fiscal year-end | $32.46 | $21.31 | $21.14 | $20.03 | $24.21 | $25.25 | $20.12 | $22.98 | — | — |
| Per share | ||||||||||
| Revenue per share | $6.24 | $9.41 | $5.71 | $8.44 | $7.07 | $10.12 | $35.87 | $34.57 | $33.65 | $25.59 |
| Earnings per share | $0.52 | $4.64 | −$0.02 | −$0.77 | −$0.14 | −$0.03 | −$0.29 | −$0.74 | $0.12 | −$0.27 |
| Operating cash flow per share | $0.17 | $1.98 | $1.12 | $2.06 | $1.47 | $1.60 | $2.54 | $1.93 | $0.99 | $1.28 |
| Free cash flow per share | $0.11 | $1.37 | $0.63 | $1.50 | $1.22 | $1.20 | $2.24 | $1.45 | $0.72 | $0.91 |
| Cash per share | $1.95 | $3.54 | $0.09 | $0.16 | $0.11 | $1.05 | $0.11 | $0.06 | $0.12 | $0.48 |
| Book value per share | $11.40 | $15.55 | $7.12 | $9.81 | $6.46 | $16.19 | $13.58 | $4.20 | $0.40 | −$1.22 |
| Tangible book value per share | −$1.26 | −$5.01 | −$7.59 | −$17.24 | −$9.48 | −$4.93 | −$14.18 | −$12.19 | −$15.17 | −$11.77 |
| Dividends per share | — | — | $0.01 | $0.03 | $0.02 | $21.95 | $18.03 | $5.58 | $0.19 | $0.01 |
| Capex per share | $0.06 | $0.61 | $0.49 | $0.56 | $0.26 | $0.40 | $0.30 | $0.48 | $0.27 | $0.37 |
| Debt per share | $0.23 | $1.57 | $12.05 | $13.73 | $6.80 | $7.19 | $14.87 | $3.93 | $14.20 | $10.71 |
| Shares outstanding | 34.2M | 24.4M | 33.2M | 22.2M | 31.7M | 14.8M | 10.5M | 9.4M | 7.8M | 7.8M |
| Change in shares outstanding | +40.0% | −26.5% | +49.4% | −29.8% | +113.8% | +41.4% | +12.1% | +19.9% | 0.0% | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 4.6% | 36.8% | −0.4% | −8.1% | −2.0% | −0.2% | −3.4% | −32.5% | — | — |
| Return on invested capital (ROIC) | 0.6% | 1.1% | −0.6% | −3.9% | −0.0% | 2.0% | 3.4% | 10.4% | 6.9% | 4.5% |
| Return on assets (ROA) | 2.6% | 14.0% | −0.1% | −2.4% | −0.8% | −0.1% | −1.2% | −4.4% | 0.8% | −2.1% |
| Return on tangible assets | 8.7% | 49.6% | −0.2% | −10.2% | −3.0% | −0.5% | −5.2% | −31.7% | 4.9% | −11.6% |
| Free cash flow margin | 1.8% | 14.5% | 11.0% | 17.8% | 17.2% | 11.8% | 6.2% | 4.2% | 2.1% | 3.6% |
| Income quality (OCF / net income) | 0.32 | 0.43 | — | — | — | — | — | — | 8.57 | — |
| Financial health | ||||||||||
| Total debt | $7.8M | $38.3M | $400.6M | $305.6M | $215.8M | $106.7M | $156.0M | $36.8M | $110.8M | $83.5M |
| Cash & short-term investments | $66.7M | $86.5M | $3.1M | $3.5M | $3.6M | $15.6M | $1.1M | $572,000 | $955,000 | $3.8M |
| Net debt | −$58.9M | −$48.2M | $397.5M | $302.1M | $212.1M | $91.1M | $154.9M | $36.2M | $109.9M | $79.8M |
| Debt / equity | 0.02 | 0.10 | 1.69 | 1.40 | 1.05 | 0.44 | 1.10 | 0.94 | 35.23 | — |
| Debt / assets | 0.01 | 0.05 | 0.45 | 0.40 | 0.33 | 0.26 | 0.45 | 0.21 | 0.79 | 0.83 |
| Net debt / EBITDA | −1.37 | −1.03 | 11.95 | 9.92 | 7.86 | 3.90 | 6.75 | 2.30 | 6.07 | 5.72 |
| Current ratio | 1.95 | 0.93 | 0.92 | 0.75 | 0.60 | 0.98 | 0.58 | 0.63 | 0.78 | 0.77 |
| Quick ratio | 1.91 | 0.92 | 0.89 | 0.72 | 0.58 | 0.94 | 0.55 | 0.59 | 0.72 | 0.71 |
| Interest coverage | 1.7 | 0.2 | -0.2 | -1.6 | -0.0 | 0.9 | 1.1 | 1.5 | 1.1 | 0.7 |
| Working capital | $66.9M | −$11.3M | −$7.9M | −$27.4M | −$38.4M | −$920,000 | −$14.7M | −$9.9M | −$4.5M | −$4.7M |
| Invested capital | $330.7M | $331.5M | $634.3M | $520.5M | $416.9M | $331.3M | $297.4M | $75.5M | $113.0M | $70.3M |
| Tangible asset value | $85.1M | $13.3M | −$160.9M | −$294.2M | −$215.7M | −$73.1M | −$148.7M | −$41.2M | −$118.4M | −$91.8M |
| Net current asset value | $16.9M | −$61.9M | −$470.6M | −$378.8M | −$304.1M | −$125.4M | −$186.3M | −$46.4M | −$121.1M | −$94.2M |
| Graham number | $11.58 | $40.29 | — | — | — | — | — | — | $1.02 | — |
| Graham net-net per share | −$0.26 | −$3.50 | −$15.46 | −$18.58 | −$10.36 | −$9.03 | −$18.45 | −$5.61 | −$16.53 | −$12.92 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | $310,000 | $643,000 | $594,000 | $325.6M | $189.2M | $52.2M | $1.5M | $56,000 |
| Share buybacks (net) | $37.6M | $708,000 | $490,000 | $643,000 | $731,000 | $10.9M | $90.0M | $4.6M | $0 | $0 |
| Dividend payout ratio | — | — | — | — | — | — | — | — | 162.3% | — |
| Dividends + buybacks / free cash flow | — | 2.1% | 3.8% | 3.9% | 3.4% | — | — | 418.0% | 26.0% | 0.8% |
| Capex / revenue | 0.9% | 6.5% | 8.6% | 6.6% | 3.7% | 4.0% | 0.8% | 1.4% | 0.8% | 1.4% |
| Capex / operating cash flow | 34.1% | 30.9% | 44.1% | 27.2% | 17.5% | 25.1% | 11.7% | 24.8% | 27.1% | 28.8% |
| Capex / depreciation | 0.07 | 0.40 | 0.45 | 0.42 | 0.34 | 0.33 | 0.19 | 0.38 | 0.21 | 0.29 |
| Stock-based compensation / revenue | 8.6% | 11.5% | 14.7% | 14.0% | 9.3% | 7.0% | 1.6% | 0.5% | −0.1% | 0.0% |
| R&D / revenue | — | 5.9% | 5.9% | 4.2% | 2.8% | 2.6% | 0.8% | 0.5% | 0.6% | 0.6% |
| SG&A / revenue | 53.8% | 75.3% | 90.9% | 82.3% | 59.3% | 52.2% | 16.7% | 12.2% | 10.4% | 10.2% |
| Efficiency | ||||||||||
| Days sales outstanding | 98.2 | 84.9 | 104.9 | 94.1 | 45.6 | 40.0 | 13.5 | 11.8 | 10.1 | 11.3 |
| Days of inventory on hand | 9.5 | 43.8 | 20.5 | 90.2 | 11.2 | 10.1 | 1.4 | 1.5 | 2.0 | 2.7 |
| Days payables outstanding | 21.5 | 110.6 | 52.3 | 244.7 | 37.0 | 28.1 | 4.8 | 4.1 | 3.0 | 4.4 |
| Cash conversion cycle (days) | 86.2 | 18.1 | 73.1 | -60.5 | 19.8 | 21.9 | 10.1 | 9.2 | 9.1 | 9.5 |
| Receivables turnover | 3.72 | 4.30 | 3.48 | 3.88 | 8.00 | 9.13 | 27.04 | 30.94 | 36.02 | 32.38 |
| Payables turnover | 16.97 | 3.30 | 6.98 | 1.49 | 9.86 | 12.97 | 76.03 | 89.20 | 121.60 | 82.12 |
| Inventory turnover | 38.26 | 8.33 | 17.80 | 4.05 | 32.70 | 36.29 | 258.19 | 246.12 | 185.61 | 134.99 |
| Asset turnover | 0.31 | 0.28 | 0.23 | 0.26 | 0.42 | 0.40 | 1.44 | 2.05 | 2.19 | 1.99 |
| Average receivables | $57.3M | $53.5M | $54.5M | $48.4M | $28.0M | $16.4M | $13.9M | $10.5M | $7.3M | $6.2M |
| Average payables | $5.6M | $5.6M | $7.9M | $8.6M | $5.9M | $3.6M | $3.8M | $2.9M | $1.8M | $2.0M |
| Average inventory | $2.5M | $2.2M | $3.1M | $3.2M | $1.8M | $1.3M | $1.1M | $1.0M | $1.2M | $1.2M |
| Intangibles / total assets | 67.8% | 68.7% | 55.3% | 78.1% | 77.5% | 77.6% | 83.4% | 87.6% | 86.8% | 82.1% |
Computed from IIIV's annual financial statements (latest annual report filed November 21, 2025) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
IIIV valuation and financial ratios
At the end of fiscal 2025 (September 30, 2025), i3 Verticals traded at 62.1 times earnings. Based on the latest twelve months, the trailing P/E is 57.5 and the forward P/E is 19.2. i3 Verticals earned a return on equity of 4.6% and a return on invested capital of 0.6% in fiscal 2025. It ended the year with $7.8 million of debt and $66.7 million in cash and short-term investments, a net cash position of $58.9 million. It returned $37.6 million to shareholders: $0 in dividends and $37.6 million in share buybacks. The share count rose 338.1% from 7.8M to 34.2M over 9 years.
See the IIIV income statement, the IIIV chart for price history, or the IIIV stock overview for the latest quote and news.
IIIV key metrics FAQ
What is i3 Verticals's P/E ratio?
i3 Verticals's trailing P/E ratio is 57.5 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 19.2. At the end of fiscal 2025 it was 62.1.
What is i3 Verticals's EV/EBITDA?
i3 Verticals's enterprise value was 24.4 times EBITDA at the end of fiscal 2025 (enterprise value $1.1 billion, EBITDA $43.0 million); the current EV/EBITDA is 8.1.
What is i3 Verticals's return on equity?
i3 Verticals's return on equity (ROE) was 4.6% in fiscal 2025: net income of $17.9 million on average shareholders' equity of $384.7 million.
What is i3 Verticals's ROIC?
i3 Verticals's return on invested capital was 0.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does i3 Verticals have?
i3 Verticals had total debt of $7.8 million at the end of fiscal 2025, a debt-to-equity ratio of 0.02 and more cash than debt.
Does i3 Verticals buy back its shares?
Yes. i3 Verticals spent $37.6 million on net share repurchases in fiscal 2025 Shares outstanding changed +40.0% over the year, to 34.2M..
What is i3 Verticals's free cash flow yield?
i3 Verticals generated $3.8 million of free cash flow in fiscal 2025, a free cash flow yield of 0.3% on its market value at year-end ($1.1 billion).
What is i3 Verticals's current ratio?
i3 Verticals's current ratio was 1.95 at the end of fiscal 2025: current assets were 1.95 times current liabilities.