TSS, Inc. (TSSI) intrinsic value & 10-year financials
TSS, Inc. (TSSI) has a Graham intrinsic value of $18.60 per share. At $7.07 on Oct 17, 2026, the stock trades 62% below that value. Over the last 10 fiscal years revenue grew 27.6% a year to $245.7M, with an average return on invested capital of -9.0%.
- Graham intrinsic value
- $18.60
- Share price (Oct 17, 2026)
- $7.07
- Price vs Graham value
- 62% below
- Market cap
- $192.5M
- Revenue (FY2025)
- $245.7M
- Revenue growth (10-yr CAGR)
- 27.6%
- ROIC (10-yr avg)
- -9.0%
- Free cash flow (FY2025)
- $2.1M
TSSI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $245.7M | $15.1M | $0.56 | $2.1M | 2.6% | 27.2% |
| FY2024 | $148.1M | $6.0M | $0.24 | $6.8M | 5.7% | 150.5% |
| FY2023 | $54.4M | $74.0K | $0.00 | -$8.5M | 3.2% | -10.9% |
| FY2022 | $30.6M | -$73.0K | $0.00 | $14.2M | 3.0% | -15.3% |
| FY2021 | $27.4M | -$1.3M | -$0.07 | -$10.5M | -3.0% | 13.6% |
| FY2020 | $45.1M | $79.0K | $0.00 | $9.6M | -0.9% | 3.0% |
| FY2019 | $32.8M | $126.0K | $0.01 | $2.4M | 1.5% | -15.5% |
| FY2018 | $22.3M | $2.4M | $0.13 | $1.7M | 12.8% | -204.3% |
| FY2017 | $18.3M | $766.0K | $0.05 | -$257.0K | 6.0% | -63.8% |
| FY2016 | $27.4M | -$1.0M | -$0.07 | $1.9M | -2.3% | 25.2% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
TSS, Inc. is a consistent compounder, expanding top-line revenue at 27.6% annually over the past decade.
TSS, Inc. has historically struggled to out-earn its cost of capital, averaging just -3.7% ROIC.
TSS, Inc. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, TSS, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $18.60 per share.