i3 Verticals (IIIV) Financials

$24.99 -0.13 (-0.52%)

Closing price 05/23/2025 04:00 PM Eastern

Extended Trading

$25.00 +0.01 (+0.02%)

As of 05/23/2025 04:04 PM Eastern

Annual Income Statements for i3 Verticals

This table shows i3 Verticals' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016
Period end date	9/30/2024	9/30/2023	9/30/2022	9/30/2021	9/30/2020	9/30/2019	9/30/2018	9/30/2017	9/30/2016
Net Income / (Loss) Attributable to Common Shareholders	113	-0.81	-17	-4.46	-0.42	-3.05	-6.90	0.90	-2.09
Consolidated Net Income / (Loss)	175	-2.65	-23	-7.84	-0.98	0.56	-4.96	0.90	-2.09
Net Income / (Loss) Continuing Operations	-13	-24	-39	-7.84	-0.98	0.56	-4.96	0.90	-2.09
Total Pre-Tax Income	-19	-27	-39	-7.22	-3.77	0.39	-4.62	1.08	-1.85
Total Operating Income	6.85	-3.57	-23	-0.01	7.77	6.39	12	7.60	3.96
Total Gross Profit	230	227	188	224	150	133	109	73	59
Total Revenue	230	227	188	224	150	376	324	263	200
Operating Revenue	230	227	188	224	150	376	324	263	200
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	243	215	189	141
Total Operating Expenses	223	230	211	224	142	127	97	66	55
Selling, General & Admin Expense	176	178	157	135	78	63	41	27	20
Depreciation Expense	29	26	19	24	18	17	12	10	9.90
Other Operating Expenses / (Income)	18	26	35	58	47	44	40	29	22
Total Other Income / (Expense), net	-26	-24	-16	-7.20	-12	-6.00	-17	-6.52	-5.81
Interest & Investment Income	-29	-25	-15	-	-	-	-	-	-
Other Income / (Expense), net	3.40	1.22	-0.99	2.60	-2.62	0.00	-8.49	0.42	0.09
Income Tax Expense	-5.67	-3.79	0.15	0.62	-2.80	-0.18	0.34	0.18	0.24
Net Income / (Loss) Discontinued Operations	188	21	16	-	-	-	-	-	-
Net Income / (Loss) Attributable to Noncontrolling Interest	62	-1.84	-6.12	-3.38	-0.56	3.61	1.94	0.00	0.00
Weighted Average Basic Shares Outstanding	46.84M	46.28M	44.50M	20.99M	14.83M	10.49M	8.81M	0.00	-
Weighted Average Diluted Shares Outstanding	57.30M	57.11M	55.35M	31.71M	27.43M	10.49M	26.87M	0.00	-
Weighted Average Basic & Diluted Shares Outstanding	33.54M	33.37M	33.12M	32.27M	30.82M	10.50M	-86.20M	-	-

This table shows i3 Verticals' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022	6/30/2022
Net Income / (Loss) Attributable to Common Shareholders	2.06	118	-7.55	1.88	1.10	4.55	-5.16	0.04	-0.24	-3.47	-3.73
Consolidated Net Income / (Loss)	3.11	179	-8.30	3.35	1.54	3.45	-6.08	-0.19	0.17	-4.41	-4.69
Net Income / (Loss) Continuing Operations	3.32	-4.38	-14	3.35	-4.22	-13	-11	-0.19	0.17	-20	-4.69
Total Pre-Tax Income	3.85	-16	-8.58	3.93	-5.31	-16	-11	-0.76	0.55	-19	-6.50
Total Operating Income	2.70	-10	-0.67	9.42	1.49	-10	-4.58	5.44	5.84	-13	-2.73
Total Gross Profit	41	-13	56	95	35	-10	57	94	86	-45	81
Total Revenue	62	-13	56	95	55	-10	57	94	86	-45	81
Operating Revenue	62	-13	56	95	55	-10	57	94	86	-45	81
Total Cost of Revenue	21	-	0.00	0.00	20	-	0.00	0.00	0.00	-	0.00
Operating Cost of Revenue	21	-	-	-	20	-	-	-	-	-	-
Total Operating Expenses	38	-2.22	57	85	34	-0.17	62	88	80	-31	83
Selling, General & Admin Expense	29	24	45	54	27	24	45	57	51	14	48
Depreciation Expense	7.68	2.02	6.97	10	7.05	2.08	6.67	9.02	8.68	-2.49	7.51
Other Operating Expenses / (Income)	1.38	-28	4.70	21	-0.24	-23	10	20	19	-18	20
Total Other Income / (Expense), net	1.15	-5.66	-7.91	-5.49	-6.79	-5.79	-6.63	-6.20	-5.29	-5.47	-3.77
Interest & Investment Income	-0.68	-	-7.91	-	-6.69	-	-6.73	-	-	-	-
Other Income / (Expense), net	1.83	1.25	0.00	2.26	-0.11	0.93	0.09	0.00	0.20	-0.99	0.00
Income Tax Expense	0.52	-12	5.27	0.58	-1.09	-3.32	-0.29	-0.56	0.38	1.31	-1.81
Net Income / (Loss) Discontinued Operations	-0.21	-	5.55	-	5.75	-	4.84	-	-	-	-
Net Income / (Loss) Attributable to Noncontrolling Interest	1.05	61	-0.75	1.47	0.44	-1.10	-0.92	-0.23	0.41	-0.94	-0.96
Weighted Average Basic Shares Outstanding	23.55M	46.84M	23.42M	23.33M	23.27M	46.28M	23.18M	23.14M	23.00M	44.50M	22.23M
Weighted Average Diluted Shares Outstanding	34.06M	57.30M	57.13M	23.72M	33.83M	57.11M	57.03M	34.27M	23.00M	55.35M	22.23M
Weighted Average Basic & Diluted Shares Outstanding	33.07M	33.54M	33.79M	33.47M	33.37M	33.37M	33.34M	33.28M	33.23M	33.12M	32.38M

This table details how cash moves in and out of i3 Verticals' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016
Period end date	9/30/2024	9/30/2023	9/30/2022	9/30/2021	9/30/2020	9/30/2019	9/30/2018	9/30/2017	9/30/2016
Net Change in Cash & Equivalents	77	-11	5.83	-2.67	17	1.96	-0.73	-2.22	3.78
Net Cash From Operating Activities	48	37	44	45	24	27	18	8.33	10
Net Cash From Continuing Operating Activities	48	37	44	45	24	27	18	8.33	10
Net Income / (Loss) Continuing Operations	175	-2.65	-23	-7.84	-0.98	0.56	-4.96	0.90	-2.09
Consolidated Net Income / (Loss)	175	-2.65	-23	-7.84	-0.98	0.56	-4.96	0.90	-2.09
Depreciation Expense	37	36	29	24	18	17	12	10	9.90
Amortization Expense	1.18	1.51	5.80	5.45	3.70	0.72	1.07	0.45	0.44
Non-Cash Adjustments To Reconcile Net Income	-184	8.85	17	21	8.43	4.17	7.98	-2.39	-0.64
Changes in Operating Assets and Liabilities, net	19	-7.00	14	1.16	-5.65	4.58	2.15	-0.72	2.40
Net Cash From Investing Activities	396	-122	-113	-149	-35	-144	-38	-48	-35
Net Cash From Continuing Investing Activities	396	-122	-113	-149	-35	-144	-38	-48	-35
Purchase of Property, Plant & Equipment	-15	-16	-12	-8.10	-5.95	-3.11	-4.49	-2.10	-2.88
Acquisitions	-24	-104	-101	-144	-29	-141	-34	-46	-32
Purchase of Investments	-0.09	-1.25	-0.44	-	-	-	-	-	-
Sale of Property, Plant & Equipment	0.62	0.00	0.00	-	-	-	-	-	-
Divestitures	435	0.00	0.00	-	-	-	-	-	-
Other Investing Activities, net	0.00	0.30	0.60	-0.10	0.00	-	-	-	-
Net Cash From Financing Activities	-367	73	75	102	29	119	19	37	29
Net Cash From Continuing Financing Activities	-367	73	75	102	29	119	19	37	29
Repayment of Debt	-748	-282	-255	-198	-336	-87	-117	-29	-37
Repurchase of Common Equity	-0.55	0.00	0.00	-0.25	-11	-90	-4.64	-0.06	-0.07
Payment of Dividends	-1.09	0.00	0.00	-	-0.00	-2.06	0.00	-1.46	-0.06
Issuance of Debt	388	365	336	303	310	188	52	57	62
Issuance of Common Equity	0.00	0.00	18	0.00	98	112	90	13	9.00
Other Financing Activities, net	-5.68	-9.81	-23	-2.04	-32	-1.96	-0.71	-0.97	-4.78
Cash Interest Paid	29	21	8.99	4.43	5.25	4.91	7.88	6.29	5.39
Cash Income Taxes Paid	7.33	3.24	1.08	0.29	0.79	1.42	0.48	0.84	0.02

This table details how cash moves in and out of i3 Verticals' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022	6/30/2022
Net Change in Cash & Equivalents	-0.39	76	6.40	-3.79	-1.32	-7.80	-2.13	-2.01	0.57	-6.35	2.80
Net Cash From Operating Activities	11	15	8.12	12	14	11	0.49	7.71	18	7.92	4.63
Net Cash From Continuing Operating Activities	11	15	8.12	12	14	11	0.49	7.71	18	7.92	4.63
Net Income / (Loss) Continuing Operations	3.11	179	-8.30	3.35	1.54	3.45	-6.08	-0.19	0.17	-4.41	-4.69
Consolidated Net Income / (Loss)	3.11	179	-8.30	3.35	1.54	3.45	-6.08	-0.19	0.17	-4.41	-4.69
Depreciation Expense	7.68	7.58	10	10	9.74	9.61	9.16	9.02	8.68	7.60	7.51
Amortization Expense	0.28	0.28	0.22	0.26	0.41	0.20	0.58	0.37	0.36	1.48	1.46
Non-Cash Adjustments To Reconcile Net Income	4.30	-195	3.03	4.12	5.28	2.77	-5.32	5.75	5.65	-1.68	1.27
Changes in Operating Assets and Liabilities, net	-3.88	24	3.11	-5.70	-2.56	-5.23	2.15	-7.23	3.32	4.92	-0.92
Net Cash From Investing Activities	-1.42	413	-4.39	-5.20	-7.17	-6.11	-4.29	-17	-95	-3.70	-9.75
Net Cash From Continuing Investing Activities	-1.42	413	-4.39	-5.20	-7.17	-6.11	-4.29	-17	-95	-3.70	-9.75
Purchase of Property, Plant & Equipment	-2.88	-3.30	-4.01	-3.84	-3.80	-4.35	-4.32	-3.54	-4.16	-3.84	-3.32
Acquisitions	0.00	-19	-0.37	-1.33	-3.98	-1.73	-0.08	-13	-90	-0.05	-6.40
Purchase of Investments	0.00	-0.06	-0.01	-0.02	-0.01	-0.02	-	-0.43	-0.80	-	-
Sale of Property, Plant & Equipment	1.46	-	-	-	0.62	-	-	-	0.00	-	-
Other Investing Activities, net	0.00	-0.01	0.00	-	0.00	-	0.11	-0.02	0.20	0.64	-0.03
Net Cash From Financing Activities	-10	-352	2.67	-11	-8.55	-12	1.67	6.89	77	-11	7.93
Net Cash From Continuing Financing Activities	-10	-352	2.67	-11	-8.55	-12	1.67	6.89	77	-11	7.93
Repayment of Debt	-1.74	-442	-85	-149	-72	-59	-43	-101	-79	-99	-60
Repurchase of Common Equity	-11	-	-	-0.43	-0.12	-	-	-	0.00	-	-
Payment of Dividends	0.00	0.03	-0.93	-0.03	-0.16	-	-	-	0.00	-	-
Issuance of Debt	1.74	91	90	143	65	55	45	109	157	77	79
Other Financing Activities, net	0.72	-0.75	-0.68	-4.05	-1.56	-7.60	-0.23	-1.00	-0.97	-5.88	-11
Cash Interest Paid	0.06	7.72	7.67	7.92	6.19	6.99	4.22	5.99	4.28	3.56	1.96
Cash Income Taxes Paid	0.05	0.35	1.61	4.99	0.39	1.31	0.51	1.25	0.17	0.24	0.25

This table presents i3 Verticals' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017
Period end date	9/30/2024	9/30/2023	9/30/2022	9/30/2021	9/30/2020	9/30/2019	9/30/2018	9/30/2017
Total Assets	731	884	770	652	404	349	175	140
Total Current Assets	153	86	84	58	38	21	17	16
Cash & Equivalents	87	3.11	3.49	3.64	16	1.12	0.57	0.96
Accounts Receivable	56	51	53	39	18	15	13	8.41
Prepaid Expenses	10	9.51	19	11	4.87	4.12	2.63	1.14
Other Current Assets	0.63	4.87	7.54	4.77	0.00	-	0.86	5.20
Plant, Property, & Equipment, net	8.68	10	5.67	5.90	5.34	5.03	2.96	1.42
Total Noncurrent Assets	569	789	681	588	360	324	156	123
Goodwill	281	268	354	292	187	168	84	59
Intangible Assets	221	221	248	213	126	123	69	63
Noncurrent Deferred & Refundable Income Taxes	48	53	43	50	37	28	1.15	-
Other Noncurrent Operating Assets	18	28	35	32	10	4.41	1.12	1.31
Total Liabilities & Shareholders' Equity	731	884	770	652	404	349	175	140
Total Liabilities	215	556	463	362	163	207	63	129
Total Current Liabilities	165	93	111	97	39	35	26	20
Short-Term Debt	26	0.00	-	-	-	-	5.00	4.00
Accounts Payable	5.37	6.37	9.34	7.87	3.85	3.44	4.11	1.60
Accrued Expenses	90	34	58	51	24	22	12	6.71
Current Deferred Revenue	39	33	32	30	11	10	4.93	2.72
Other Current Liabilities	4.14	8.53	12	7.97	0.00	-	0.86	5.20
Total Noncurrent Liabilities	51	463	351	266	124	172	37	145
Capital Lease Obligations	6.32	8.97	14	-	-	-	-	-
Noncurrent Deferred & Payable Income Tax Liabilities	29	40	41	39	28	23	0.79	-
Other Noncurrent Operating Liabilities	15	23	9.54	26	6.14	9.12	3.94	38
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	515	328	308	290	240	142	112	-33
Total Preferred & Common Equity	380	237	218	205	156	80	39	-33
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-
Total Common Equity	380	237	218	205	156	80	39	-33
Common Stock	279	250	242	211	158	82	39	-
Retained Earnings	100	-13	-24	-6.48	-2.02	-2.31	0.74	-33
Noncontrolling Interest	136	92	89	85	85	62	73	-

This table presents i3 Verticals' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	12/31/2024	6/30/2024	3/31/2024	12/31/2023	6/30/2023	3/31/2023	12/31/2022	6/30/2022
Total Assets	726	862	866	877	876	883	869	780
Total Current Assets	153	308	87	90	97	90	91	73
Cash & Equivalents	86	9.75	3.14	4.16	5.04	3.98	3.61	9.05
Accounts Receivable	51	49	67	68	61	57	53	44
Prepaid Expenses	15	11	16	14	20	22	23	14
Other Current Assets	1.21	1.36	1.59	3.52	11	7.19	12	6.37
Plant, Property, & Equipment, net	7.58	8.93	11	11	12	12	12	5.42
Total Noncurrent Assets	566	545	767	776	767	781	766	702
Goodwill	281	269	411	411	409	409	399	354
Intangible Assets	217	211	282	287	290	295	292	252
Noncurrent Deferred & Refundable Income Taxes	48	50	52	52	43	45	44	52
Other Noncurrent Operating Assets	20	15	23	25	25	32	32	44
Total Liabilities & Shareholders' Equity	726	862	866	877	876	883	869	780
Total Liabilities	215	516	519	540	563	571	566	490
Total Current Liabilities	163	103	108	181	97	109	113	106
Short-Term Debt	26	26	26	91	-	-	-	-
Accounts Payable	7.40	5.96	12	9.71	8.30	7.92	8.41	8.08
Accrued Expenses	83	23	27	33	47	55	51	64
Current Deferred Revenue	42	29	37	39	27	34	37	23
Other Current Liabilities	4.55	4.83	6.01	7.81	15	12	17	11
Total Noncurrent Liabilities	52	413	411	359	466	463	453	384
Capital Lease Obligations	5.42	6.95	9.36	9.42	11	12	13	15
Noncurrent Deferred & Payable Income Tax Liabilities	29	40	40	40	41	41	41	40
Other Noncurrent Operating Liabilities	17	17	18	22	24	24	21	22
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	511	346	346	337	313	312	303	290
Total Preferred & Common Equity	375	250	249	243	222	222	216	206
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	375	250	249	243	222	222	216	206
Common Stock	273	267	259	255	240	234	228	226
Retained Earnings	102	-18	-9.97	-12	-17	-12	-12	-20
Noncontrolling Interest	136	96	97	94	91	90	88	84

This table displays calculated financial ratios and metrics derived from i3 Verticals' official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016
Period end date	9/30/2024	9/30/2023	9/30/2022	9/30/2021	9/30/2020	9/30/2019	9/30/2018	9/30/2017	9/30/2016
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	1.41%	20.76%	-16.23%	49.28%	-60.10%	16.32%	23.21%	31.52%	0.00%
EBITDA Growth	37.16%	221.37%	-65.83%	19.87%	14.35%	41.05%	-9.53%	28.92%	0.00%
EBIT Growth	537.06%	90.28%	-1,034.26%	-49.86%	-19.37%	64.95%	-51.67%	97.90%	0.00%
NOPAT Growth	292.04%	84.58%	-192,741.67%	-100.15%	-41.62%	7.71%	36.19%	129.02%	0.00%
Net Income Growth	6,703.70%	88.58%	-196.17%	-700.72%	-273.89%	111.35%	-650.00%	143.10%	0.00%
EPS Growth	0.00%	0.00%	0.00%	-633.33%	89.66%	-462.50%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	30.24%	-15.06%	-1.74%	87.74%	-10.82%	47.11%	117.05%	-16.74%	0.00%
Free Cash Flow Firm Growth	-57.34%	175.97%	21.23%	-484.38%	76.16%	-122.79%	29.49%	0.00%	0.00%
Invested Capital Growth	-7.78%	-17.34%	24.39%	54.29%	12.38%	89.09%	75.45%	0.00%	0.00%
Revenue Q/Q Growth	-38.79%	-29.68%	-37.37%	14.81%	-31.89%	6.97%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	-34.21%	-29.41%	-55.60%	13.74%	-7.21%	-0.15%	0.00%	0.00%	0.00%
EBIT Q/Q Growth	-69.59%	-117.73%	-167.07%	362.08%	-38.99%	-20.28%	0.00%	0.00%	0.00%
NOPAT Q/Q Growth	199.16%	-125.63%	-156.10%	-102.15%	-7.95%	8.81%	0.00%	0.00%	0.00%
Net Income Q/Q Growth	500,271.43%	74.77%	-11.87%	0.96%	-191.50%	-83.43%	0.00%	0.00%	0.00%
EPS Q/Q Growth	0.00%	0.00%	0.00%	15.38%	40.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	16.93%	2.18%	-5.57%	-6.58%	16.35%	34.89%	6.03%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	-79.16%	208.28%	-11.82%	13.24%	-193.52%	0.00%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	-6.64%	-29.42%	0.14%	-0.73%	7.85%	1.48%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	35.46%	33.68%	27.98%	29.38%
EBITDA Margin	21.25%	15.72%	5.91%	14.48%	18.03%	6.29%	5.19%	7.07%	7.21%
Operating Margin	2.98%	-1.57%	-12.33%	-0.01%	5.18%	1.70%	3.82%	2.89%	1.99%
EBIT Margin	4.46%	-1.03%	-12.85%	1.15%	3.43%	1.70%	1.20%	3.05%	2.03%
Profit (Net Income) Margin	76.17%	-1.17%	-12.37%	-3.50%	-0.65%	0.15%	-1.53%	0.34%	-1.05%
Tax Burden Percent	-921.06%	9.65%	59.67%	108.63%	25.94%	145.85%	107.29%	83.60%	113.14%
Interest Burden Percent	-185.52%	1,171.56%	161.23%	-279.37%	-73.25%	6.04%	-119.36%	13.46%	-45.68%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	-45.85%	0.00%	16.40%	0.00%
Return on Invested Capital (ROIC)	1.00%	-0.45%	-2.97%	0.00%	1.83%	4.34%	7.43%	15.02%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	289.77%	-0.52%	-5.81%	-5.76%	-4.19%	-5.70%	-11.21%	5.10%	0.00%
Return on Net Nonoperating Assets (RNNOA)	40.52%	-0.38%	-4.81%	-2.96%	-2.34%	-3.90%	-18.84%	-22.15%	0.00%
Return on Equity (ROE)	41.52%	-0.83%	-7.77%	-2.96%	-0.51%	0.44%	-11.42%	-7.13%	0.00%
Cash Return on Invested Capital (CROIC)	9.09%	18.53%	-24.70%	-42.70%	-9.83%	-57.29%	-47.35%	-184.98%	0.00%
Operating Return on Assets (OROA)	1.27%	-0.28%	-3.39%	0.49%	1.37%	2.44%	2.46%	5.73%	0.00%
Return on Assets (ROA)	21.69%	-0.32%	-3.27%	-1.49%	-0.26%	0.21%	-3.15%	0.64%	0.00%
Return on Common Equity (ROCE)	30.34%	-0.60%	-5.51%	-2.01%	-0.32%	0.21%	-0.83%	-9.31%	0.00%
Return on Equity Simple (ROE_SIMPLE)	46.12%	-1.12%	-10.63%	-3.83%	-0.63%	0.70%	-12.62%	-2.73%	0.00%
Net Operating Profit after Tax (NOPAT)	4.80	-2.50	-16	-0.01	5.44	9.32	8.65	6.35	2.77
NOPAT Margin	2.09%	-1.10%	-8.63%	0.00%	3.62%	2.48%	2.67%	2.42%	1.39%
Net Nonoperating Expense Percent (NNEP)	-288.77%	0.07%	2.84%	5.75%	6.02%	10.04%	18.64%	9.92%	0.00%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	64.54%	66.32%	72.02%	70.62%
SG&A Expenses to Revenue	76.72%	78.39%	83.44%	60.18%	52.17%	16.70%	12.55%	10.36%	10.21%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	97.02%	101.57%	112.33%	100.01%	94.82%	33.76%	29.86%	25.08%	27.39%
Earnings before Interest and Taxes (EBIT)	10	-2.35	-24	2.58	5.15	6.39	3.87	8.02	4.05
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	49	36	11	32	27	24	17	19	14
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.90	2.98	2.97	3.81	4.46	6.87	15.38	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	3.13	3.11	3.45	3.48	4.62	1.46	1.87	0.33	0.43
Price to Earnings (P/E)	6.35	0.00	0.00	0.00	0.00	0.00	0.00	95.84	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	15.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.04%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.74	2.38	1.71	2.18	2.71	2.68	4.81	2.41	0.00
Enterprise Value to Revenue (EV/Rev)	3.49	5.25	5.51	4.74	5.69	2.00	2.21	0.78	0.00
Enterprise Value to EBITDA (EV/EBITDA)	16.40	33.41	93.39	32.71	31.54	31.71	42.50	11.00	0.00
Enterprise Value to EBIT (EV/EBIT)	78.22	0.00	0.00	410.98	165.72	117.49	184.16	25.46	0.00
Enterprise Value to NOPAT (EV/NOPAT)	167.09	0.00	0.00	0.00	156.92	80.56	82.45	32.12	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	16.56	32.02	23.66	23.84	36.00	28.23	39.46	24.50	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	18.34	11.62	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	0.06	1.21	0.98	0.69	0.38	0.98	0.33	-4.38	0.00
Long-Term Debt to Equity	0.01	1.21	0.98	0.69	0.38	0.98	0.28	-4.22	0.00
Financial Leverage	0.14	0.74	0.83	0.51	0.56	0.68	1.68	-4.34	0.00
Leverage Ratio	1.91	2.60	2.38	1.99	1.97	2.06	3.63	-5.53	0.00
Compound Leverage Factor	-3.55	30.48	3.84	-5.57	-1.44	0.12	-4.33	-0.75	0.00
Debt to Total Capital	5.94%	54.73%	49.45%	40.92%	27.43%	49.44%	24.69%	129.57%	0.00%
Short-Term Debt to Total Capital	4.79%	0.00%	0.00%	0.00%	0.00%	0.00%	3.36%	4.68%	0.00%
Long-Term Debt to Total Capital	1.15%	54.73%	49.45%	40.92%	27.43%	49.44%	21.33%	124.89%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	24.75%	12.62%	14.67%	17.31%	25.56%	22.14%	48.93%	9.03%	0.00%
Common Equity to Total Capital	69.31%	32.64%	35.88%	41.77%	47.01%	28.42%	26.38%	-38.60%	0.00%
Debt to EBITDA	0.67	11.14	27.15	6.18	3.35	5.88	2.19	5.97	0.00
Net Debt to EBITDA	-1.11	11.05	26.84	6.07	2.78	5.84	2.16	5.92	0.00
Long-Term Debt to EBITDA	0.13	11.14	27.15	6.18	3.35	5.88	1.89	5.76	0.00
Debt to NOPAT	6.78	-158.90	-18.58	-23,881.55	16.68	14.95	4.25	17.45	0.00
Net Debt to NOPAT	-11.26	-157.65	-18.37	-23,448.10	13.82	14.83	4.18	17.30	0.00
Long-Term Debt to NOPAT	1.32	-158.90	-18.58	-23,881.55	16.68	14.95	3.67	16.82	0.00
Altman Z-Score	2.54	0.98	0.90	1.56	2.95	2.67	7.62	2.10	0.00
Noncontrolling Interest Sharing Ratio	26.93%	28.44%	29.16%	31.98%	38.41%	53.12%	92.77%	-30.53%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	0.93	0.92	0.75	0.60	0.98	0.58	0.63	0.78	0.00
Quick Ratio	0.87	0.58	0.51	0.44	0.85	0.47	0.49	0.46	0.00
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	44	102	-135	-171	-29	-123	-55	-78	0.00
Operating Cash Flow to CapEx	337.53%	226.99%	351.90%	549.99%	398.39%	856.31%	403.03%	397.42%	347.76%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	-17.47	-3.28	-20.47	-6.49	-11.28	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	4.54	2.66	4.43	2.13	1.20	1.70
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	3.72	1.99	3.91	1.60	0.90	1.21
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	0.28	0.27	0.26	0.42	0.40	1.44	2.05	1.88	0.00
Accounts Receivable Turnover	4.31	4.36	4.09	8.00	9.13	27.04	30.94	31.21	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	24.54	28.83	32.45	39.88	28.97	94.27	147.79	184.91	0.00
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	64.32	75.09	118.20	0.00
Days Sales Outstanding (DSO)	84.75	83.81	89.27	45.63	39.96	13.50	11.80	11.69	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	5.67	4.86	3.09	0.00
Cash Conversion Cycle (CCC)	84.75	83.81	89.27	45.63	39.96	7.82	6.94	8.61	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	461	500	605	487	315	281	148	85	0.00
Invested Capital Turnover	0.48	0.41	0.34	0.56	0.50	1.75	2.78	6.21	0.00
Increase / (Decrease) in Invested Capital	-39	-105	119	171	35	132	64	85	0.00
Enterprise Value (EV)	802	1,190	1,035	1,062	854	751	713	204	0.00
Market Capitalization	720	705	649	780	694	550	604	86	86
Book Value per Share	$11.24	$7.10	$6.74	$6.36	$5.66	$2.93	$1.49	($4.97)	$0.00
Tangible Book Value per Share	($3.62)	($7.57)	($11.84)	($9.33)	($5.74)	($7.72)	($4.34)	($23.24)	$0.00
Total Capital	548	725	609	490	331	282	149	86	0.00
Total Debt	33	397	301	201	91	139	37	111	0.00
Total Long-Term Debt	6.32	397	301	201	91	139	32	107	0.00
Net Debt	-54	394	298	197	75	138	36	110	0.00
Capital Expenditures (CapEx)	14	16	12	8.10	5.95	3.11	4.49	2.10	2.88
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-72	-11	-31	-42	-16	-16	-5.45	-1.47	0.00
Debt-free Net Working Capital (DFNWC)	15	-7.92	-27	-38	-0.92	-15	-4.88	-0.52	0.00
Net Working Capital (NWC)	-11	-7.92	-27	-38	-0.92	-15	-9.88	-4.52	0.00
Net Nonoperating Expense (NNE)	-170	0.15	7.02	7.83	6.42	8.76	14	5.45	4.87
Net Nonoperating Obligations (NNO)	-54	172	298	197	75	138	36	110	0.00
Total Depreciation and Amortization (D&A)	39	38	35	30	22	17	13	11	10
Debt-free, Cash-free Net Working Capital to Revenue	-31.17%	-4.86%	-16.48%	-18.75%	-10.98%	-4.19%	-1.68%	-0.56%	0.00%
Debt-free Net Working Capital to Revenue	6.47%	-3.49%	-14.62%	-17.13%	-0.61%	-3.90%	-1.51%	-0.20%	0.00%
Net Working Capital to Revenue	-4.93%	-3.49%	-14.62%	-17.13%	-0.61%	-3.90%	-3.05%	-1.72%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($0.04)	($0.77)	($0.21)	($0.03)	($0.29)	$0.08	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	46.84M	23.14M	22.25M	20.99M	14.83M	10.49M	8.81M	0.00	0.00
Adjusted Diluted Earnings per Share	$0.00	($0.07)	($0.77)	($0.22)	($0.03)	($0.29)	$0.08	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	57.30M	33.25M	22.25M	31.71M	27.43M	10.49M	26.87M	0.00	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	($0.29)	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	33.54M	33.37M	33.12M	32.27M	30.82M	27.40M	26.32M	0.00	0.00
Normalized Net Operating Profit after Tax (NOPAT)	4.80	-2.50	-16	4.99	4.45	6.85	11	6.17	4.49
Normalized NOPAT Margin	2.09%	-1.10%	-8.63%	2.23%	2.97%	1.82%	3.51%	2.35%	2.25%
Pre Tax Income Margin	-8.27%	-12.12%	-20.72%	-3.22%	-2.51%	0.10%	-1.43%	0.41%	-0.93%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.26	0.58	1.06	0.46	1.16	0.69
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.61	1.55	1.02	0.92	0.47
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	-0.56	-0.09	0.55	-0.07	0.85	0.20
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	-0.83	-0.06	1.04	0.49	0.61	-0.02
Payout Ratios	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.62%	0.00%	0.00%	0.00%	-0.31%	365.90%	0.00%	162.31%	-2.68%
Augmented Payout Ratio	0.94%	0.00%	0.00%	-3.23%	-1,111.95%	16,356.48%	-93.43%	169.40%	-5.92%

This table displays calculated financial ratios and metrics derived from i3 Verticals' official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022	6/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.06%	-21.14%	-2.14%	0.71%	-36.01%	76.73%	-28.92%	20.16%	16.35%	-166.78%	27.60%
EBITDA Growth	8.31%	-382.94%	82.82%	48.44%	-23.52%	108.71%	-15.69%	447.73%	100.21%	-163.35%	-17.24%
EBIT Growth	228.37%	1.71%	85.08%	114.51%	-77.19%	35.41%	-64.23%	188.13%	900.13%	-2,407.66%	-227.07%
NOPAT Growth	124.33%	-1.52%	85.38%	110.71%	-41.95%	23.77%	-67.59%	188.13%	438.81%	-2,249.60%	-227.07%
Net Income Growth	102.34%	5,076.69%	-36.53%	1,843.75%	808.88%	178.21%	-29.65%	98.16%	104.59%	-126.62%	-11.59%
EPS Growth	0.00%	0.00%	-45.45%	0.00%	0.00%	0.00%	-29.41%	100.00%	90.91%	0.00%	-13.33%
Operating Cash Flow Growth	-20.20%	40.21%	1,570.58%	57.00%	-20.76%	36.38%	-89.50%	-17.18%	-17.03%	-24.57%	12.74%
Free Cash Flow Firm Growth	1,003.86%	-67.66%	299.05%	92.42%	76.50%	176.31%	7.42%	11.15%	34.74%	24.99%	41.41%
Invested Capital Growth	-36.58%	-7.78%	-30.27%	2.39%	4.41%	-17.34%	17.27%	20.61%	22.55%	24.39%	23.32%
Revenue Q/Q Growth	587.83%	-122.57%	-40.73%	2.77%	627.39%	-118.23%	-39.00%	9.12%	0.91%	-155.69%	3.11%
EBITDA Q/Q Growth	1,041.15%	-113.81%	-56.34%	18.47%	2,358.64%	-91.08%	-64.55%	-1.66%	-1.53%	-186.38%	130.29%
EBIT Q/Q Growth	149.27%	-1,272.94%	-105.73%	38.61%	114.75%	-108.36%	-182.38%	-9.88%	-3.00%	-429.81%	55.79%
NOPAT Q/Q Growth	131.94%	-1,459.04%	-105.83%	5.27%	114.45%	-124.47%	-184.07%	112.82%	109.85%	-393.52%	55.79%
Net Income Q/Q Growth	-98.26%	2,251.65%	-347.85%	117.97%	-55.47%	156.75%	-3,065.63%	-213.61%	103.83%	5.93%	55.09%
EPS Q/Q Growth	0.00%	0.00%	-500.00%	100.00%	0.00%	0.00%	0.00%	100.00%	93.75%	0.00%	48.48%
Operating Cash Flow Q/Q Growth	-24.09%	86.51%	-32.88%	-7.30%	33.38%	2,122.22%	-93.69%	-57.62%	81.68%	71.15%	-50.26%
Free Cash Flow Firm Q/Q Growth	741.68%	-85.24%	2,519.17%	61.26%	-130.11%	190.88%	7.82%	6.86%	8.45%	-10.25%	11.53%
Invested Capital Q/Q Growth	-0.90%	-6.64%	-31.55%	0.14%	44.11%	-29.42%	0.52%	2.11%	14.09%	0.14%	3.39%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	65.91%	0.00%	100.00%	100.00%	64.44%	0.00%	100.00%	100.00%	100.00%	0.00%	100.00%
EBITDA Margin	20.24%	0.00%	17.15%	23.28%	20.94%	0.00%	9.18%	15.79%	17.53%	0.00%	7.74%
Operating Margin	4.38%	0.00%	-1.19%	9.96%	2.70%	0.00%	-7.99%	5.80%	6.79%	0.00%	-3.39%
EBIT Margin	7.33%	0.00%	-1.19%	12.35%	2.50%	0.00%	-7.83%	5.80%	7.02%	0.00%	-3.39%
Profit (Net Income) Margin	5.04%	0.00%	-14.81%	3.54%	2.79%	0.00%	-10.61%	-0.20%	0.20%	0.00%	-5.82%
Tax Burden Percent	80.83%	-1,110.00%	96.77%	85.23%	-28.93%	-21.48%	54.22%	25.43%	30.67%	23.28%	72.15%
Interest Burden Percent	84.97%	175.12%	1,281.76%	33.64%	-385.27%	171.85%	249.94%	-13.87%	9.12%	130.94%	237.93%
Effective Tax Rate	13.60%	0.00%	0.00%	14.77%	0.00%	0.00%	0.00%	0.00%	69.33%	0.00%	0.00%
Return on Invested Capital (ROIC)	1.52%	0.00%	-0.52%	4.49%	0.52%	0.00%	-2.75%	2.18%	1.10%	0.00%	-1.30%
ROIC Less NNEP Spread (ROIC-NNEP)	1.99%	0.00%	-3.40%	3.27%	0.65%	0.00%	-3.56%	1.02%	0.60%	0.00%	-2.36%
Return on Net Nonoperating Assets (RNNOA)	0.77%	0.00%	-2.81%	3.82%	0.79%	0.00%	-4.18%	1.17%	0.66%	0.00%	-2.15%
Return on Equity (ROE)	2.29%	0.00%	-3.33%	8.31%	1.31%	0.00%	-6.93%	3.35%	1.76%	0.00%	-3.45%
Cash Return on Invested Capital (CROIC)	45.73%	9.09%	34.87%	2.29%	-5.10%	18.53%	-14.41%	-16.97%	-19.81%	-24.70%	-22.04%
Operating Return on Assets (OROA)	2.16%	0.00%	-0.52%	5.32%	0.56%	0.00%	-3.05%	2.42%	2.82%	0.00%	-1.43%
Return on Assets (ROA)	1.49%	0.00%	-6.40%	1.53%	0.63%	0.00%	-4.13%	-0.09%	0.08%	0.00%	-2.45%
Return on Common Equity (ROCE)	1.67%	0.00%	-2.39%	5.95%	0.94%	0.00%	-4.92%	2.38%	1.25%	0.00%	-2.45%
Return on Equity Simple (ROE_SIMPLE)	47.12%	0.00%	0.01%	0.90%	-0.53%	0.00%	-4.73%	-4.11%	-8.98%	0.00%	-10.07%
Net Operating Profit after Tax (NOPAT)	2.33	-7.30	-0.47	8.03	1.04	-7.19	-3.20	3.81	1.79	-9.43	-1.91
NOPAT Margin	3.78%	0.00%	-0.84%	8.49%	1.89%	0.00%	-5.60%	4.06%	2.08%	0.00%	-2.37%
Net Nonoperating Expense Percent (NNEP)	-0.47%	-315.07%	2.88%	1.22%	-0.13%	-4.53%	0.81%	1.16%	0.49%	-2.03%	1.06%
Return On Investment Capital (ROIC_SIMPLE)	0.43%	-	-	-	0.14%	-	-	-	-	-	-
Cost of Revenue to Revenue	34.09%	0.00%	0.00%	0.00%	35.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	46.85%	0.00%	80.36%	57.29%	49.36%	0.00%	78.67%	60.94%	59.29%	0.00%	59.31%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	61.53%	0.00%	101.19%	90.04%	61.74%	0.00%	107.99%	94.20%	93.21%	0.00%	103.39%
Earnings before Interest and Taxes (EBIT)	4.53	-9.19	-0.67	12	1.38	-9.35	-4.49	5.44	6.04	-14	-2.73
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	12	-1.33	9.61	22	12	0.47	5.26	15	15	-5.39	6.23
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.06	1.90	2.96	3.06	2.91	2.98	3.42	3.67	3.74	2.97	3.93
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	3.27	3.13	1.97	2.03	3.61	3.11	2.36	2.36	2.44	3.45	2.70
Price to Earnings (P/E)	6.76	6.35	0.00	322.46	1,339.30	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	14.79%	15.74%	0.00%	0.31%	0.07%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.87	1.74	2.44	1.71	1.64	2.38	1.76	1.84	1.86	1.71	2.00
Enterprise Value to Revenue (EV/Rev)	3.61	3.49	3.21	3.28	6.05	5.25	3.87	3.76	3.88	5.51	4.03
Enterprise Value to EBITDA (EV/EBITDA)	17.16	16.40	16.24	17.68	36.91	33.41	24.71	25.23	32.57	93.39	48.37
Enterprise Value to EBIT (EV/EBIT)	63.83	78.22	35.80	41.37	0.00	0.00	94.28	86.64	381.11	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	151.39	167.09	0.00	37.24	0.00	0.00	127.96	117.59	441.03	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	18.79	16.56	29.15	36.62	35.45	32.02	34.29	32.04	30.41	23.66	26.07
Enterprise Value to Free Cash Flow (EV/FCFF)	3.17	18.34	5.75	75.73	0.00	11.62	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.06	0.06	1.10	1.10	1.15	1.21	1.28	1.27	1.29	0.98	1.11
Long-Term Debt to Equity	0.01	0.01	1.03	1.02	0.88	1.21	1.28	1.27	1.29	0.98	1.11
Financial Leverage	0.39	0.14	0.83	1.17	1.20	0.74	1.18	1.15	1.10	0.83	0.91
Leverage Ratio	1.89	1.91	2.64	2.66	2.73	2.60	2.74	2.76	2.76	2.38	2.49
Compound Leverage Factor	1.61	3.35	33.80	0.89	-10.50	4.47	6.86	-0.38	0.25	3.12	5.92
Debt to Total Capital	5.83%	5.94%	52.42%	52.27%	53.50%	54.73%	56.16%	56.02%	56.28%	49.45%	52.65%
Short-Term Debt to Total Capital	4.83%	4.79%	3.61%	3.62%	12.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	1.00%	1.15%	48.81%	48.65%	40.98%	54.73%	56.16%	56.02%	56.28%	49.45%	52.65%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	25.08%	24.75%	13.24%	13.35%	13.02%	12.62%	12.68%	12.65%	12.65%	14.67%	13.75%
Common Equity to Total Capital	69.09%	69.31%	34.34%	34.38%	33.47%	32.64%	31.16%	31.33%	31.07%	35.88%	33.61%
Debt to EBITDA	0.64	0.67	5.13	5.42	12.09	11.14	7.94	7.72	9.93	27.15	12.93
Net Debt to EBITDA	-1.08	-1.11	5.00	5.37	11.96	11.05	7.84	7.64	9.84	26.84	12.57
Long-Term Debt to EBITDA	0.11	0.13	4.78	5.04	9.26	11.14	7.94	7.72	9.93	27.15	12.93
Debt to NOPAT	5.60	6.78	-78.75	11.41	-69.96	-158.90	41.13	35.98	134.50	-18.58	-51.06
Net Debt to NOPAT	-9.54	-11.26	-76.74	11.32	-69.21	-157.65	40.61	35.62	133.25	-18.37	-49.63
Long-Term Debt to NOPAT	0.96	1.32	-73.34	10.62	-53.59	-158.90	41.13	35.98	134.50	-18.58	-51.06
Altman Z-Score	2.68	2.45	1.55	1.32	0.87	0.95	1.13	1.22	1.21	0.94	1.28
Noncontrolling Interest Sharing Ratio	27.18%	0.00%	28.35%	28.35%	28.45%	0.00%	28.97%	28.93%	29.05%	0.00%	29.03%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.94	0.93	2.98	0.81	0.50	0.92	1.00	0.83	0.81	0.75	0.69
Quick Ratio	0.84	0.87	0.57	0.65	0.40	0.58	0.68	0.56	0.50	0.51	0.50
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	266	32	214	-8.85	-29	98	-108	-117	-125	-128	-116
Operating Cash Flow to CapEx	810.65%	458.46%	202.27%	314.70%	452.85%	248.22%	11.25%	217.41%	437.10%	206.17%	139.28%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	-1.14	0.00	0.00	0.00	-18.82	-22.82	0.00	-30.84
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	1.56	0.00	0.00	0.00	1.24	3.31	0.00	1.23
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	1.06	0.00	0.00	0.00	0.67	2.55	0.00	0.35
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.30	0.28	0.43	0.43	0.22	0.27	0.39	0.42	0.40	0.26	0.42
Accounts Receivable Turnover	3.96	4.31	6.87	6.10	3.24	4.36	6.17	6.95	7.14	4.09	8.26
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	25.27	24.54	35.69	32.48	17.04	28.83	36.76	38.78	37.64	32.45	52.65
Accounts Payable Turnover	0.17	0.00	0.00	0.00	2.16	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	92.24	84.75	53.17	59.80	112.70	83.81	59.11	52.54	51.13	89.27	44.18
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	2,147.95	0.00	0.00	0.00	168.96	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	-2,055.71	84.75	53.17	59.80	-56.27	83.81	59.11	52.54	51.13	89.27	44.18
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	457	461	494	722	721	500	709	705	690	605	604
Invested Capital Turnover	0.40	0.48	0.62	0.53	0.28	0.41	0.49	0.54	0.53	0.34	0.55
Increase / (Decrease) in Invested Capital	-264	-39	-215	17	30	-105	104	120	127	119	114
Enterprise Value (EV)	855	802	1,207	1,237	1,184	1,190	1,247	1,298	1,281	1,035	1,208
Market Capitalization	773	720	739	764	706	705	761	815	806	649	810
Book Value per Share	$11.18	$11.24	$7.46	$7.47	$10.43	$7.10	$6.68	$6.68	$6.51	$6.74	$6.37
Tangible Book Value per Share	($3.65)	($3.62)	($6.88)	($13.30)	($19.58)	($7.57)	($14.32)	($14.49)	($14.35)	($11.84)	($12.36)
Total Capital	543	548	727	725	725	725	714	709	694	609	613
Total Debt	32	33	381	379	388	397	401	397	391	301	323
Total Long-Term Debt	5.42	6.32	355	353	297	397	401	397	391	301	323
Net Debt	-54	-54	371	376	384	394	396	393	387	298	314
Capital Expenditures (CapEx)	1.42	3.30	4.01	3.84	3.18	4.35	4.32	3.54	4.16	3.84	3.32
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-70	-72	221	2.14	-3.80	-11	-5.35	-23	-26	-31	-41
Debt-free Net Working Capital (DFNWC)	16	15	231	5.28	0.36	-7.92	-0.31	-19	-22	-27	-32
Net Working Capital (NWC)	-10	-11	205	-21	-90	-7.92	-0.31	-19	-22	-27	-32
Net Nonoperating Expense (NNE)	-0.78	-186	7.83	4.68	-0.50	-11	2.87	4.00	1.62	-5.02	2.78
Net Nonoperating Obligations (NNO)	-54	-54	148	376	384	172	396	393	387	298	314
Total Depreciation and Amortization (D&A)	7.96	7.86	10	10	10	9.81	9.74	9.38	9.04	9.08	8.97
Debt-free, Cash-free Net Working Capital to Revenue	-29.45%	-31.17%	58.89%	0.57%	-1.94%	-4.86%	-1.66%	-6.60%	-7.79%	-16.48%	-13.84%
Debt-free Net Working Capital to Revenue	6.72%	6.47%	61.49%	1.40%	0.18%	-3.49%	-0.10%	-5.45%	-6.70%	-14.62%	-10.82%
Net Working Capital to Revenue	-4.37%	-4.93%	54.51%	-5.56%	-46.19%	-3.49%	-0.10%	-5.45%	-6.70%	-14.62%	-10.82%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($0.32)	$0.08	$0.05	$0.00	($0.22)	$0.00	($0.01)	$0.00	($0.17)
Adjusted Weighted Average Basic Shares Outstanding	23.55M	46.84M	23.42M	23.33M	23.27M	46.28M	23.18M	23.14M	23.00M	44.50M	22.23M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($0.32)	$0.08	$0.04	$0.00	($0.22)	$0.00	($0.01)	$0.00	($0.17)
Adjusted Weighted Average Diluted Shares Outstanding	34.06M	57.30M	57.13M	23.72M	33.83M	57.11M	23.18M	34.27M	23.00M	55.35M	22.23M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	33.07M	33.54M	33.79M	33.47M	33.37M	33.37M	33.34M	33.28M	33.23M	33.12M	32.38M
Normalized Net Operating Profit after Tax (NOPAT)	2.33	-7.30	-0.47	7.78	1.04	-7.19	-3.20	5.41	5.10	-9.43	3.87
Normalized NOPAT Margin	3.78%	0.00%	-0.84%	8.23%	1.89%	0.00%	-5.60%	5.76%	5.92%	0.00%	4.80%
Pre Tax Income Margin	6.23%	0.00%	-15.30%	4.15%	-9.64%	0.00%	-19.58%	-0.80%	0.64%	0.00%	-8.07%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	1.51	0.00	0.00	0.00	0.88	1.10	0.00	-0.73
NOPAT to Interest Expense	0.00	0.00	0.00	1.04	0.00	0.00	0.00	0.61	0.33	0.00	-0.51
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	1.01	0.00	0.00	0.00	0.31	0.34	0.00	-1.61
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.54	0.00	0.00	0.00	0.04	-0.43	0.00	-1.39
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.53%	0.62%	0.00%	0.00%	-12.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	7.11%	0.94%	1,577.14%	24.48%	-21.32%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About i3 Verticals' Financials

When does i3 Verticals's fiscal year end?

According to the most recent income statement we have on file, i3 Verticals' financial year ends in September. Their financial year 2024 ended on September 30, 2024.

How has i3 Verticals' net income changed over the last 8 years?

i3 Verticals' net income appears to be on an upward trend, with a most recent value of $175.13 million in 2024, falling from -$2.09 million in 2016. The previous period was -$2.65 million in 2023. See i3 Verticals' forecast for analyst expectations on what’s next for the company.

What is i3 Verticals's operating income?

i3 Verticals's total operating income in 2024 was $6.85 million, based on the following breakdown:

Total Gross Profit: $229.92 million
Total Operating Expenses: $223.07 million

How has i3 Verticals revenue changed over the last 8 years?

Over the last 8 years, i3 Verticals' total revenue changed from $199.64 million in 2016 to $229.92 million in 2024, a change of 15.2%.

How much debt does i3 Verticals have?

i3 Verticals' total liabilities were at $215.32 million at the end of 2024, a 61.3% decrease from 2023, and a 66.8% increase since 2017.

How much cash does i3 Verticals have?

In the past 7 years, i3 Verticals' cash and equivalents has ranged from $572 thousand in 2018 to $86.54 million in 2024, and is currently $86.54 million as of their latest financial filing in 2024.

How has i3 Verticals' book value per share changed over the last 8 years?

Over the last 8 years, i3 Verticals' book value per share changed from 0.00 in 2016 to 11.24 in 2024, a change of 1,123.9%.

Related Companies

This page (NASDAQ:IIIV) was last updated on 5/25/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

i3 Verticals (IIIV) Financials

Frequently Asked Questions About i3 Verticals' Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

i3 Verticals (IIIV) Financials

Annual Income Statements for i3 Verticals

Quarterly Income Statements for i3 Verticals

Annual Cash Flow Statements for i3 Verticals

Quarterly Cash Flow Statements for i3 Verticals

Annual Balance Sheets for i3 Verticals

Quarterly Balance Sheets for i3 Verticals

Annual Metrics And Ratios for i3 Verticals

Quarterly Metrics And Ratios for i3 Verticals

Frequently Asked Questions About i3 Verticals' Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools