HireQuest, Inc. (HQI) intrinsic value & 10-year financials
HireQuest, Inc. (HQI) has a Graham intrinsic value of $14.95 per share. At $17.89 on Oct 17, 2026, the stock trades 20% above that value. Over the last 10 fiscal years revenue shrank 12.2% a year to $29.0M, with an average return on invested capital of 13.4%.
- Graham intrinsic value
- $14.95
- Share price (Oct 17, 2026)
- $17.89
- Price vs Graham value
- 20% above
- Market cap
- $250.1M
- Revenue (FY2025)
- $29.0M
- Revenue growth (10-yr CAGR)
- -12.2%
- ROIC (10-yr avg)
- 13.4%
- Free cash flow (FY2025)
- $12.0M
HQI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $29.0M | $6.3M | $0.45 | $12.0M | 21.7% | 9.3% |
| FY2024 | $32.7M | $3.7M | $0.26 | $12.0M | 13.4% | 6.5% |
| FY2023 | $35.8M | $6.1M | $0.45 | $10.5M | 29.7% | 14.4% |
| FY2022 | $28.9M | $12.5M | $0.91 | $16.8M | 55.5% | 28.8% |
| FY2021 | $21.5M | $11.8M | $0.87 | $16.0M | 35.6% | 20.5% |
| FY2020 | $12.8M | $5.4M | $0.39 | $9.5M | 38.9% | 19.3% |
| FY2019 | $14.7M | -$290.0K | -$0.03 | $4.5M | 19.0% | 12.7% |
| FY2018 | $97.4M | $974.3K | $0.20 | $2.5M | 1.2% | 8.9% |
| FY2017 | $98.1M | $1.7M | $0.33 | $4.6M | 3.8% | 9.6% |
| FY2016 | $93.3M | $759.3K | $0.01 | -$87.4K | 1.7% | 4.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
HireQuest, Inc. is facing top-line stagnation, with revenue contracting over the decade.
HireQuest, Inc. has earned high returns on invested capital, averaging 18.0% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Over the decade, HireQuest, Inc. shows that management has aggressively returned capital to shareholders by retiring 77.8% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, HireQuest, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $14.95 per share.