Great Elm Group, Inc.

GEG
Price: $2.16Market Cap: $66.6M

Investment snapshot

6%positive consensus
Scored 1d ago

Positive

1

BUY / PASS

Neutral / negative

2 / 13

NEUTRAL / FAIL

Median fair value

$3.96

+83.3% vs price

Models with upside

3 / 17

Positive margin of safety

Strongest signal

GEG undervalued: all 3 models price fair value above $2.16 (median $3.96)

Key risk

No clean pass — all 8 investors flag at least one growth criterion

Framework analysis

VerdictMeaning
BUYPositive purchase signal: the framework's buy requirements are met.
PASSThe company clears the framework's checklist or screen, but the framework does not produce a buy signal. For valuation frameworks this often means margin of safety is missing, insufficient, or unavailable; some screen-only frameworks have no intrinsic-value BUY state.
NEUTRALNeither a positive nor negative conclusion. It does not mean to hold an existing position.
FAILThe company does not clear the framework's requirements.
RankedRanked strategies do not use PASS: selected cohort is BUY, outside the cohort is FAIL, and unranked is NEUTRAL.

Current investor scores use trailing 12-month flows and the latest balance sheet where supported. Multi-year and EPS tests retain annual history; each framework shows its financial basis below. Intrinsic values use annual financials.

MetricGraham

Defensive Value

Buffett

Quality Compounder

Lynch

GARP

Greenblatt

Magic Formula

Piotroski

F-Score

Dreman

Contrarian Value

Munger

Quality Focus

Pabrai

Dhandho Framework

Akre

Three-Legged Stool

Marks

Risk-Aware Value

Ackman

Activist Value

Templeton

Global Bargain Hunter

Sleep

Scale Economies Shared

Asness

Systematic Factors

Neff

Low-P/E Total Return

Schloss

Asset-Value Discipline

O'Shaughnessy

Systematic Factor Composite

VerdictPASSFAILFAILNot rankedFAILFAILFAILNEUTRALFAILFAILFAILFAILFAILFAILFAILFAILNEUTRAL
Score
AnalysisChecking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…
Intrinsic Value (annual)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Margin of Safety+52.5%N/AN/AN/AN/A+39.2%N/A+45.5%N/AN/AN/AN/AN/AN/AN/AN/AN/A
Financial Basis

TTM ended 2026-09-30 · Balance sheet at 2026-09-30 · Annual history · FY 2025

Latest source filing: 2026-11-04

Score computed: 2026-11-14

Annual history · FY 2025 · TTM ended 2026-09-30

Latest source filing: 2026-11-04

Score computed: 2026-11-14

Annual history · FY 2025 · Balance sheet at 2026-09-30 · TTM ended 2026-09-30

Latest source filing: 2026-11-04

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2025-09-02

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2025-09-02

Score computed: 2026-11-14

Annual history · FY 2025 · TTM ended 2026-09-30 · Balance sheet at 2026-09-30 · Market data at 2026-11-01

Latest source filing: 2026-11-04

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2025 · TTM ended 2026-09-30 · Balance sheet at 2026-09-30

Latest source filing: 2026-11-04

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2025

Latest source filing: 2025-09-02

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment · Balance sheet at 2026-09-30

Latest source filing: 2026-11-04

Score computed: 2026-11-14

Annual history · FY 2025 · TTM ended 2026-09-30 · Qualitative assessment

Latest source filing: 2026-11-04

Score computed: 2026-11-14

Annual history · FY 2025 · TTM ended 2026-09-30 · Balance sheet at 2026-09-30 · Market data at 2026-11-01

Latest source filing: 2026-11-04

Score computed: 2026-11-14

Annual history · FY 2025 · Price history 2025-01-01–2026-11-01 · Balance sheet at 2026-09-30

Latest source filing: 2026-11-04

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment

Latest source filing: 2025-09-02

Score computed: 2026-11-14

TTM ended 2026-09-30 · Balance sheet at 2026-09-30 · Price history 2025-01-01–2026-11-01 · Annual history · FY 2025

Latest source filing: 2026-11-04

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2025-09-02

Score computed: 2026-11-14

Annual history · FY 2025 · Balance sheet at 2026-09-30

Latest source filing: 2026-11-04

Score computed: 2026-11-14

TTM ended 2026-09-30 · Annual history · FY 2025 · Price history 2025-01-01–2026-11-01

Latest source filing: 2026-11-04

Score computed: 2026-11-14

Where It Passes

  • Valuation models100% pass✓ 3▾

    GEG undervalued: all 3 models price fair value above $2.16 (median $3.96)

    Graham fair value$4.55
    ✓Graham+52.5% margin vs $2.16
    Dreman fair value$3.55
    ✓Dreman+39.2% margin vs $2.16
    Pabrai fair value$3.96
    ✓Pabrai+45.5% margin vs $2.16

Where It Falls Short

  • Growth0% pass✓ 1✗ 12▾

    No clean pass — all 8 investors flag at least one growth criterion

    EPS Growth (3-yr avg, 10-yr window)
    ✗Graham>= 33% growth
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR
    ✗Lynch15-30% (Fast Grower); > 0% to pass
    Inventory Growth vs Revenue GrowthN/A (no inventory)
    ✓LynchInventory growth < Revenue growth
    EPS Growth Direction
    ✗DremanPositive over recent years
    EPS CAGR
    ✗Dreman> 5% annualized
    Positive Net Income Frequency3/7 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    3yr Median Revenue Growth0.0%
    ✗Ackman>= 5%
    Positive EPS Growth Frequency
    ✗AckmanPositive EPS growth in >= 3 of last 5 years
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Revenue growth vs. gross and operating margin trendgross margin 69.0% -> 93.4%, operating margin -43.9% -> -49.1%
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    5-year Revenue CAGR-23.1%
    ✗SleepCAGR > 7%
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
  • Profitability6% pass✓ 4✗ 31▾

    15 of 16 flag GEG's profitability — Graham, Buffett, Lynch +12 more

    Positive EPS (10 years)3/8 years positive
    ✗GrahamPositive EPS every year for 10 years
    EPS Growth (3-yr avg, 10-yr window)
    ✗Graham>= 33% growth
    Net Income Positive (10+ years)3/8 years positive
    ✗BuffettPositive every year for 10+ years
    ROE (up to 5-year arithmetic mean)6.7%
    ✗Buffett> 15% arithmetic mean (app rule)
    Operating Margin (10-yr trend)-49.1% (latest)
    ✗BuffettStable or rising over 10 years
    Free Cash Flow Proxy$28.8M
    ✓BuffettPositive and growing
    Earnings Variance (10-yr CoV)
    ✗BuffettCoV < 0.3
    Retained Earnings Effectiveness
    ✗Buffett$1 retained -> > $1 market value created
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR
    ✗Lynch15-30% (Fast Grower); > 0% to pass
    ROE-90.5%
    ✗Lynch> 15%
    EBIT / Enterprise Value-22.2%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=-22.2%, ROC=None
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Net Income / Total Assets8.37%
    ✓PiotroskiROA > 0
    ROA Change YoY8.37% -> 8.37% (delta: +0.00%)
    ✗PiotroskiCurrent ROA > Prior ROA
    (CFO / Total Assets) vs ROACFO/Assets=-5.85%, ROA=8.37%
    ✗PiotroskiCFO/Assets > ROA
    Gross Margin Change YoY93.4% -> 93.4%
    ✗PiotroskiImproved YoY
    Pre-Tax Income / Revenue-165.3%
    ✗Dreman>= 8%
    Net Income / Shareholders' Equity-90.5%
    ✗Dreman> 12%
    Margin of SafetyP/E=5.7x, P/B=0.9x
    ✓PabraiP/B < 1.5 or P/E < 15
    Return on Equity11.5% (3-yr avg)
    ✗AkreROE > 20% (3-year avg)
    Discount to Intrinsic Value39.2% (IV=$3.55 vs Price=$2.16)
    ✓Marks>= 20% below intrinsic value
    Positive Net Income Frequency3/7 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    Operating Income / Revenue-67.8%
    ✗Ackman>= 15%
    Net Income / Shareholders Equity-90.5%
    ✗Ackman>= 15%
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Operating Margin Trend-43.9% (2023) -> -49.1% (2025)
    ✗TempletonNon-negative operating-margin trend over 3 years
    Revenue growth vs. gross and operating margin trendgross margin 69.0% -> 93.4%, operating margin -43.9% -> -49.1%
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    Net income / market capitalization-49.75%; #5047/6340 (top 79.6%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Gross profit / total assets+9.90%; #2808/3702 (top 75.9%)
    ✗AsnessTop 30% of eligible cross-section
    Net income / positive book equity-90.45%; #4543/5226 (top 86.9%)
    ✗AsnessTop 30% of eligible cross-section
    Negative 5-year standard deviation of ROA-0.0987; #3463/5884 (top 58.9%)
    ✗AsnessTop 30% of eligible cross-section
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
    Positive Diluted-EPS Years3/7 years positive
    ✗Schloss>= 70% positive over 5-10 observed years (app rule)
  • Verdicts7% pass✓ 1✗ 13▾

    Split decision: 13 FAIL · 2 NEUTRAL · 1 PASS

    Overall verdict
    ✓GrahamPASS (4/9)✗BuffettFAIL (1/9)✗LynchFAIL (1/7)•GreenblattNot ranked✗PiotroskiFAIL (F-Score 2)✗DremanFAIL (3/11)✗MungerFAIL (1/4)•PabraiNEUTRAL (2/3)✗AkreFAIL (0/6)✗MarksFAIL (2/5)✗AckmanFAIL (1/9)✗TempletonFAIL (3/8)✗SleepFAIL (0/6)✗AsnessFAIL (Rank #2125/2370 (Top 89.7%))✗NeffFAIL (1/6)✗SchlossFAIL (3/7)•OshaughnessyNEUTRAL (Not ranked)
  • Debt & Leverage8% pass✓ 3✗ 12▾

    11 of 12 flag GEG's debt & leverage — Graham, Buffett, Lynch +8 more

    LT Debt vs Net Current Assets
    ✗GrahamLT Debt <= Net Current Assets
    Debt/Equity & Interest CoverageD/E: 1.73, IC: -3.3x
    ✗BuffettD/E < 0.5 AND Interest Coverage > 5x
    Total Debt / Equity1.73
    ✗Lynch< 0.33
    Cash - Long-term Debt
    ✗LynchPositive preferred
    LT Debt / Total Assets Change0.00% -> 0.00%
    ✓PiotroskiDecreased YoY
    Current Assets / Current Liabilities2.89
    ✓Dreman> 1.5✓SchlossCurrent ratio >= 1.50x (app cutoff)
    Total Debt / Shareholders' Equity1.73
    ✗Dreman< 0.8✗Templeton< 1.0 (fixed cap; proxy for below-sector-median leverage)✗SchlossD/E < 1.00x
    Debt Levels1.73
    ✗MungerDebt/Equity < 0.5✗AkreDebt/Equity < 0.3
    Interest Coverage & Debt/EBITDAIC=-3.3x, D/EBITDA=N/A
    ✗MarksInterest Coverage > 3x; Debt/EBITDA < 4x
    Total Debt / Shareholders Equity1.73
    ✗Ackman<= 1.0
    Negative debt-to-equity (higher means less debt)-1.7253; #3693/4210 (top 87.7%)
    ✗AsnessTop 30% of eligible cross-section
  • Cash Flow20% pass✓ 2✗ 10▾

    8 of 10 flag GEG's cash flow — Lynch, Piotroski, Dreman +5 more

    Free Cash Flow Proxy$28.8M
    ✓BuffettPositive and growing
    FCF Positive and Growing$-2.4M
    ✗LynchPositive and growing
    Operating Cash Flow$-9.0M
    ✗PiotroskiCFO > 0
    (CFO / Total Assets) vs ROACFO/Assets=-5.85%, ROA=8.37%
    ✗PiotroskiCFO/Assets > ROA
    Price / (CFO / Shares)N/A (negative CFPS)
    ✗Dreman< 8x
    P/E or FCF YieldP/E=5.7x
    ✓PabraiP/E < 15 or FCF Yield > 10%
    FCF Positive2/4 years FCF positive
    ✗MarksPositive FCF in majority of recent years
    (OCF - CapEx) / Market Cap
    ✗Ackman>= 4%
    Price / FCF per Share
    ✗Ackman<= 25
    Positive Operating Cash Flow frequency2/7 years positive
    ✗SleepPositive OCF in >= 70% of available years
    Operating Cash Flow - Capital Expenditures
    ✗Neff> $0 (app proxy for a strong fundamental case)
    (Operating cash flow - capex) / market capitalization
    ✗OshaughnessyTop 10% of eligible cross-section
  • Efficiency25% pass✓ 2✗ 9▾

    6 of 8 flag GEG's efficiency — Buffett, Greenblatt, Piotroski +3 more

    Current Ratio2.89
    ✓Graham>= 2.0
    ROIC (3-5 yr avg)-12.7%
    ✗Buffett> 10%
    ROIC - WACC-22.7%
    ✗BuffettPositive (WACC = 10%)
    EBIT / (NWC + Net Fixed Assets)
    ✗Greenblatt> 25%
    Current Ratio Change YoY14.34 -> 14.34
    ✗PiotroskiIncreased YoY
    Revenue / Total Assets Change YoY0.11x -> 0.11x
    ✗PiotroskiImproved YoY
    Current Assets / Current Liabilities2.89
    ✓Dreman> 1.5
    Return on Invested Capital-10.9%
    ✗Munger> 15%
    ROIC (high and growing)FY2023: ROIC=-6.3%; FY2024: ROIC=-6.0%; FY2025: ROIC=unavailable
    ✗AkreLatest 3 consecutive FYs: ROIC > 15% in each
    Reinvestment Rate x ROIC
    ✗AkreReinvestment Rate * ROIC > 10%
    ROIC (5-year)0/4 years above 12% (latest -6.0%)
    ✗SleepROIC > 12% in a majority of years
  • Valuation31% pass✓ 14✗ 14▾

    9 of 13 flag GEG's valuation — Lynch, Greenblatt, Dreman +6 more

    Price / Book Value per Share0.9x
    ✓Dreman< 1.2x✓Templeton< 1.5x✗SchlossP/B <= 0.80x (app cutoff)
    Price / 3-yr avg EPS9.1x
    ✓Graham<= 15x
    Price-to-Book Ratio0.9x
    ✓Graham<= 1.5x
    P/E x P/B8.10
    ✓Graham<= 22.5
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    EBIT / Enterprise Value-22.2%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=-22.2%, ROC=None
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Price / EPS5.7x
    ✓Dreman< 12x✓Templeton< 12x (fixed ceiling; proxy for the market's cheapest 40%)
    Price / (CFO / Shares)N/A (negative CFPS)
    ✗Dreman< 8x
    Valuation ReasonablenessP/E=5.7x, OE Yield=22.6%
    ✓MungerP/E < 25 or Owner Earnings Yield > 5%
    P/E or FCF YieldP/E=5.7x
    ✓PabraiP/E < 15 or FCF Yield > 10%
    P/B or P/E vs. Historical AverageP/E=5.7x, P/B=0.9x
    ✓MarksP/E < 15 or P/B < 2.0
    Discount to Intrinsic Value39.2% (IV=$3.55 vs Price=$2.16)
    ✓Marks>= 20% below intrinsic value
    Price / FCF per Share
    ✗Ackman<= 25
    Price vs. Trailing Low120% of trailing low ($1.80)
    ✗Templeton<= 120% of trailing low (certified split-adjusted live window)
    Net income / market capitalization-49.75%; #5047/6340 (top 79.6%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Positive book equity / market capitalization+0.5500; #2691/6449 (top 41.7%)
    ✗AsnessTop 30% of eligible cross-section
    Price / Diluted EPS5.7x
    ✓NeffP/E <= 15x (app proxy for a P/E 40%-60% below the market)
    (EPS CAGR % + Dividend Yield %) / P/E
    ✗Neff> 0.7 (Neff's published traditional edge)
    Price / Tangible Book Value per Share0.89x
    ✓SchlossP/TBV <= 1.00x (app cutoff)
    Book Value per Share Change+45.5%
    ✓SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)
    Revenue / market capitalization+0.3050; #3299/5247 (top 62.9%)
    ✗OshaughnessyTop 10% of eligible cross-section
    (Operating cash flow - capex) / market capitalization
    ✗OshaughnessyTop 10% of eligible cross-section
    Trailing six-month price return through the evaluation date+0.47%; #2644/6202 (top 42.6%)
    ✗OshaughnessyTop 10% of eligible cross-section

Business & financials

Financial snapshot: annual FY 2025. Current investor scores may use newer quarterly data.

Company Profile

Industry: Business Services
Size: Micro Cap($66.6M)
Revenue: $16.3M+0.0% YoY
Net Income: $12.9M+0.0% YoY

Financial Snapshot

Operating Margin-49.1%
Return on Equity18.3%
Debt / Equity--
Current Ratio14.34
EPS (Diluted)$0.38+0.0% 1y
Shares Retired−9.2% / 4.9% 2y

Similar Companies

ADPAUTOMATIC DATA PROCESSING INC
$122.3B
EAELECTRONIC ARTS INC.
$52.9B
RBRKRubrik, Inc.
$22.6B
ACMAECOM
$9.1B

Shareholder Return

Fiscal 2025

Issued 9.2% of shares last year, 4.9% over two.

Buybacks
—
Dividends
—

What drove EPS

A buyback raises earnings per share without the company earning more. This splits each year's change into the two.

FY25
0.0% = 0.0% + 0.0%
Earnings Fewer shares More shares

Share count is the denominator the filer used for diluted EPS, recovered as net income ÷ EPS — not the balance-sheet count, which is a point-in-time figure and would put the timing difference into this split. Years with a loss are omitted: a smaller share count makes a loss per share larger, so the decomposition inverts.

Company Financials

Latest TTM and quarters alongside annual years

TTM sums four consecutive quarters and uses the latest quarter-end balances. Quarter columns show three-month results; annual columns show full-year totals. Growth compares the same period a year earlier. EPS is not added for TTM; full-year ratios are blank for quarters.

The latest annual period end is unavailable. Showing the latest fiscal cycle’s quarters; quarter and annual columns may overlap. Quarterly shows the full quarter history.

MetricTTM · 2026-09-30

2025-10-01 – 2026-09-30

Sources · derived quarter values

Derived from cumulative filings: operating cash flow, depreciation amortization, buybacks, revenue, net income, operating income, ebit, pre tax income, interest expense.

Q1 FY 2027

2026-07-01 – 2026-09-30

Sources
FY 2025
Sources
  • 10-K · 2025-09-02
FY 2024
Sources
  • 10-K · 2025-09-02
FY 2023
Sources
  • 10-K · 2024-08-29
FY 2022
Sources
  • 10-K · 2023-09-20
FY 2021
Sources
  • 10-K · 2022-09-12
Market Cap$66.6Mcurrent--$62.3Mest.$47.8Mest.$57.9Mest.$64.7Mest.$56.2Mest.
Revenue$20.3M↓12%$3.3M↓69%$16.3M$16.3M↓9%$17.8M↑106%$8.7M↓87%$68.0M
Operating Income-$13.8M↓41%-$3.5M↑6%-$8.0M-$8.0M↓2%-$7.8M↑30%-$11.2M↓28%-$8.7M
Net Income-$33.1M↓1512%-$4.1M↑48%$12.9M$12.9M↑1029%-$1.4M↓105%$27.7M↑286%-$14.9M
EPS (Diluted)--$-0.14↑42%$0.38$0.38↑860%$-0.05↓107%$0.73↑230%$-0.56
Gross Margin——93.4%93.4%↑35%69.0%——
Operating Margin-67.8%↓61%-104.5%↓203%-49.1%-49.1%↓12%-43.9%↑66%-129.4%↓906%-12.9%
ROE-90.5%↓2942%—18.3%18.3%↑928%-2.2%↓105%43.4%↑198%-44.5%
Total Debt$63.2M↑83%$63.2M↑83%--$34.6M↓1%$34.9M↓6%$37.1M↑6%$35.2M
Shareholders' Equity$36.6M↓50%$36.6M↓50%$70.3M$70.3M↑12%$62.7M↓2%$63.8M↑91%$33.5M
Current Ratio2.89↓83%2.89↓83%14.3414.34↓6%15.26↓9%16.69↑289%4.29
Debt / Equity1.73↑268%1.73↑268%—0.49↓12%0.56↓4%0.58↓45%1.05
Operating Cash Flow$1.3M↑110%-$10.6M↓378%-$9.0M-$9.0M↑42%-$15.6M↓555%-$2.4M↓108%$29.3M
Free Cash Flow-----------$2.4M↓108%$29.3M

Score history

Historical Score Timeline

Industry peers

Industry Peers

Similar companies in Business Services

GEG vs Peers — Financial Grading

Revenue$16.3MBottom 25%
Net Income$12.9MMedian
ROE18.3%Median
D/E—
Op. Margin-49.1%Bottom 25%
Curr. Ratio14.34Top 25%
CompanyMarket CapPriceRevenueNet IncomeROED/EOp. MarginCurr. RatioGrahamBuffettLynchGreenblattPiotroskiDreman
AUTOMATIC DATA PROCESSING INCADP$122.3B$309.93$21.9B$4.4B73.2%0.8224.2%1.054/95/93/70/3F-Score 65/11
ELECTRONIC ARTS INC.EA$52.9B$209.70$7.5B$887.0M13.1%0.2215.4%1.051/94/94/70/3F-Score 66/11
Rubrik, Inc.RBRK$22.6B$109.88$1.3B$348.8M67.1%—-26.2%1.691/90/92/70/3F-Score 62/11
AECOMACM$9.1B$70.50$16.1B$561.8M22.5%1.096.4%1.141/93/93/71/3F-Score 82/11
COMMVAULT SYSTEMS INCCVLT$6.2B$152.07$1.2B$70.7M942.8%—6.3%1.951/92/94/70/3F-Score 66/11
WPP plcWPP$6.0B$27.79$18.2B$289.5M-8.5%1.942.8%0.891/92/91/70/3F-Score 32/11
VARONIS SYSTEMS INCVRNS$5.6B$48.94$623.5M$129.3M-21.6%0.76-23.5%1.971/90/91/70/3F-Score 51/11
ROBERT HALF INC.RHI$4.3B$42.00$5.4B$133.0M10.4%—1.4%1.532/95/91/70/3F-Score 52/11