Stock fact sheet · data as of
i3 Verticals, Inc. (IIIV): fair value, margin of safety and Wheel Score
Technology · Software - Infrastructure · United States · Blend
Is IIIV undervalued?
i3 Verticals, Inc. (IIIV) closed at 16.60 on 16 Oct 2026, close to the GLS average fair value of 16.51 (0.6% above fair value). 3 of the 8 models that produced a number sit above the price, 5 below - the market and our models roughly agree. With little margin of safety either way, the case for or against the stock rests on the quality numbers and the option premium rather than on price.
There is a wide gap between GLS Growth (2.09) and 10 Cap (55.87). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
The nightly engine files IIIV under Blend.
Nine valuation models for IIIV
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 11.29 | -32% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 11.94 | -28% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 16.70 | +1% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 6.68 | -60% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 2.09 | -87% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 55.87 | +237% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 22.59 | +36% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | 4.87 | -71% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | 0.7088 | -96% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 26.00 | +57% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
i3 Verticals, Inc. scores 7 of 9 on the Piotroski F-score, the nine yes/no tests of profitability, leverage and efficiency on the latest annual accounts - a strong reading that passes the Sunday Scan's "6 or more" rule with room to spare. A GLS Moat score of 2.1/10 is a weak reading: the ten-year history the score grades (revenue, EPS, book value, margins, cash flow, share count, ROIC) has not been steady, so the Moat part of the Wheel Score contributes little.
Returns on capital are thin or negative - ROIC 4.5%, ROE 4.6%, ROA 2.8% - with debt at 0.02 times equity and a free-cash-flow yield of 12.6%.
i3 Verticals, Inc. pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain. Revenue comes mainly from License and Service 100% (quarter Q3 FY2026).
Institutional ownership scores 10/10, insider activity 7/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | 4.5% |
|---|---|---|---|
| GLS Moat | 2.1 / 10 | ROE | 4.6% |
| Debt / equity | 0.02 | ROA | 2.8% |
| Free-cash-flow yield | 12.6% | Payout ratio | 0% |
| Institutions | 10 / 10 | Insiders · Congress | 7 · 5 / 10 |
Wheel Score 58: Fair
A Wheel Score of 58 puts i3 Verticals, Inc. in the Fair band - below the 70 the Sunday Scan requires. Value 12/25, Health 16/20, Moat 3/15, Premium 18/20 and Stability 9/20; the weakest part is Moat (3/15).
Implied volatility is 69% on the near-the-money contracts 20-60 days out - above the 60% ceiling of the sweet spot. Premiums are large, but the Wheel Score tapers the Premium points (18 of 20) because volatility this high usually comes with a reason. Chain open interest is thin - 712 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 297k shares a day on a market cap of $397M, with a beta of 0.78 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 9 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 12 / 25 | -1% margin of safety | |
| Health | 16 / 20 | Piotroski 7/9 | |
| Moat | 3 / 15 | moat 2.1/10 | |
| Premium | 18 / 20 | implied volatility 69% | |
| Stability | 9 / 20 | 297k shares/day, $397M cap, beta 0.78 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 16 Nov 2026 (after the close), 31 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Software - Infrastructure
The 12 companies below are the closest to i3 Verticals, Inc. by market cap within the Software - Infrastructure industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
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| ALLT Allot Ltd. | 9.04 | 8.73 | -4% | 54Fair | $446M |
| RPAY Repay Holdings Corporation | 4.00 | 16.36 | +76% | 45Weak | $353M |
| BTQ BTQ Technologies Corp. | 2.34 | 0.1053 | -2123% | 31Weak | $344M |
| KPLT Katapult Holdings, Inc. | 5.78 | 108.69 | +95% | 39No options | $490M |
| IMXI International Money Express, Inc. | 10.58 | 12.13 | +13% | 51Fair | $320M |
| KDK Kodiak AI, Inc. Common Stock | 1.59 | 0.0769 | -1968% | 31Weak | $319M |
| PSFE Paysafe Limited | 5.55 | 132.69 | +96% | 45Weak | $290M |
| BKKT Bakkt Holdings, Inc. | 5.90 | - | - | 34Weak | $266M |
| MOVE Corvex, Inc. | 8.41 | - | - | 35Weak | $265M |
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Start free See the Sunday ScanQuestions about IIIV
Is IIIV undervalued right now?
Not meaningfully: at 16.60 the stock trades within a few percent of the GLS average fair value of 16.51 (0.6% above fair value, data as of 16 Oct 2026).
What is the Wheel Score of IIIV and what does it mean?
IIIV scores 58 out of 100 (Fair). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for IIIV?
16.51 per share as of 16 Oct 2026 - the simple average of the 8 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does i3 Verticals, Inc. report earnings next?
The next earnings report is due on 16 Nov 2026 (after the close), 31 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does IIIV have listed options, and how liquid are they?
Yes. The nightly snapshot found 110 listed contracts with 712 open interest across all expiries and implied volatility of 69% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.