iTonic Holdings Ltd

ITOC
About the company

iTonic Holdings Ltd., a healthcare solutions provider, develops and commercializes treatment software and devices used for brachytherapy. The company's proprietary treatment planning system is a radioactive particle implantation, a radiotherapy used in treating cancer patients by placing radioactive sources inside the patient that kill cancer cells and shrink tumors.

Price: $1.98Market Cap: $14.5M

Investment snapshot

6%positive consensus
Scored 1d ago

Positive

1

BUY / PASS

Neutral / negative

1 / 14

NEUTRAL / FAIL

Median fair value

—

No comparable estimates

Models with upside

0 / 17

Positive margin of safety

Strongest signal

8 of 12 pass — Graham, Buffett, Lynch +1 more object

Key risk

No clean pass — all 16 investors flag at least one profitability 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

VerdictFAILFAILFAILFAIL · Rank #2851 (Top 92.1%)FAILFAILPASSFAILFAILFAILFAILFAILFAILFAILFAILFAILNEUTRAL
Score
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Intrinsic Value (annual)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Margin of SafetyN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Financial Basis

Annual history · FY 2025

Latest source filing: 2026-03-30

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-30

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-30

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-30

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-30

Score computed: 2026-11-14

Annual history · FY 2025 · Market data at 2026-11-01

Latest source filing: 2026-03-30

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2025

Latest source filing: 2026-03-30

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2025

Latest source filing: 2026-03-30

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment

Latest source filing: 2026-03-30

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment

Latest source filing: 2026-03-30

Score computed: 2026-11-14

Annual history · FY 2025 · Market data at 2026-11-01

Latest source filing: 2026-03-30

Score computed: 2026-11-14

Annual history · FY 2025 · Price history 2025-01-01–2026-11-01

Latest source filing: 2026-03-30

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment

Latest source filing: 2026-03-30

Score computed: 2026-11-14

Annual history · FY 2025 · Price history 2025-01-01–2026-11-01

Latest source filing: 2026-03-30

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-30

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-30

Score computed: 2026-11-14

Annual history · FY 2025 · Price history 2025-01-01–2026-11-01

Latest source filing: 2026-03-30

Score computed: 2026-11-14

Where It Passes

  • Debt & Leverage67% pass✓ 11✗ 4▾

    8 of 12 pass — Graham, Buffett, Lynch +1 more object

    LT Debt vs Net Current Assets
    ✗GrahamLT Debt <= Net Current Assets
    Debt/Equity & Interest CoverageD/E: 0.02, IC: -582.3x
    ✗BuffettD/E < 0.5 AND Interest Coverage > 5x
    Total Debt / Equity0.02
    ✓Lynch< 0.33
    Cash - Long-term Debt
    ✗LynchPositive preferred
    LT Debt / Total Assets Change0.00% -> 0.00%
    ✓PiotroskiDecreased YoY
    Current Assets / Current Liabilities8.83
    ✓Dreman> 1.5✓SchlossCurrent ratio >= 1.50x (app cutoff)
    Total Debt / Shareholders' Equity0.02
    ✓Dreman< 0.8✓Templeton< 1.0 (fixed cap; proxy for below-sector-median leverage)✓SchlossD/E < 1.00x
    Debt Levels0.02
    ✓MungerDebt/Equity < 0.5✓AkreDebt/Equity < 0.3
    Interest Coverage & Debt/EBITDAIC=-582.3x, D/EBITDA=N/A (D&A unavailable)
    ✗MarksInterest Coverage > 3x; Debt/EBITDA < 4x
    Total Debt / Shareholders Equity0.02
    ✓Ackman<= 1.0
    Negative debt-to-equity (higher means less debt)-0.0234; #786/4210 (top 18.7%)
    ✓AsnessTop 30% of eligible cross-section

Where It Falls Short

  • Profitability0% pass✓ 1✗ 34▾

    No clean pass — all 16 investors flag at least one profitability criterion

    Positive EPS (10 years)1/5 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)1/5 years positive
    ✗BuffettPositive every year for 10+ years
    ROE (up to 5-year arithmetic mean)-39.4%
    ✗Buffett> 15% arithmetic mean (app rule)
    Operating Margin (10-yr trend)-991.7% (latest)
    ✗BuffettStable or rising over 10 years
    Free Cash Flow Proxy
    ✗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-83.3%
    ✗Lynch> 15%
    EBIT / Enterprise Value-39.5%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=-39.5%, ROC=-238.7%
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Net Income / Total Assets-56.04%
    ✗PiotroskiROA > 0
    ROA Change YoY-9.83% -> -56.04% (delta: -46.22%)
    ✗PiotroskiCurrent ROA > Prior ROA
    (CFO / Total Assets) vs ROACFO/Assets=-35.52%, ROA=-56.04%
    ✓PiotroskiCFO/Assets > ROA
    Gross Margin Change YoY85.0% -> 62.6%
    ✗PiotroskiImproved YoY
    Pre-Tax Income / Revenue-974.8%
    ✗Dreman>= 8%
    Net Income / Shareholders' Equity-83.3%
    ✗Dreman> 12%
    Margin of SafetyP/B=5.2x
    ✗PabraiP/B < 1.5 or P/E < 15
    Return on Equity-57.6% (3-yr avg)
    ✗AkreROE > 20% (3-year avg)
    Discount to Intrinsic ValueN/A (negative normalized EPS)
    ✗Marks>= 20% below intrinsic value
    Positive Net Income Frequency1/4 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    Operating Income / Revenue-991.7%
    ✗Ackman>= 15%
    Net Income / Shareholders Equity-83.3%
    ✗Ackman>= 15%
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Operating Margin Trend-48.8% (2023) -> -991.7% (2025)
    ✗TempletonNon-negative operating-margin trend over 3 years
    Revenue growth vs. gross and operating margin trendgross margin 74.9% -> 62.6%, operating margin -48.8% -> -991.7%
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    Net income / market capitalization-35.19%; #4894/6340 (top 77.2%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Gross profit / total assets+3.60%; #3182/3702 (top 86.0%)
    ✗AsnessTop 30% of eligible cross-section
    Net income / positive book equity-83.26%; #4493/5226 (top 86.0%)
    ✗AsnessTop 30% of eligible cross-section
    Negative 5-year standard deviation of ROA-0.2069; #4262/5884 (top 72.4%)
    ✗AsnessTop 30% of eligible cross-section
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
    Positive Diluted-EPS Years
    ✗Schloss>= 70% positive over 5-10 observed years (app rule)
  • Valuation0% pass✓ 2✗ 26▾

    No clean pass — all 13 investors flag at least one valuation criterion

    Price / 3-yr avg EPS
    ✗Graham<= 15x
    Price-to-Book Ratio5.2x
    ✗Graham<= 1.5x
    P/E x P/B
    ✗Graham<= 22.5
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    EBIT / Enterprise Value-39.5%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=-39.5%, ROC=-238.7%
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Price / EPS
    ✗Dreman< 12x✗Templeton< 12x (fixed ceiling; proxy for the market's cheapest 40%)
    Price / (CFO / Shares)N/A (negative CFPS)
    ✗Dreman< 8x
    Price / Book Value per Share5.2x
    ✗Dreman< 1.2x✗Templeton< 1.5x✗SchlossP/B <= 0.80x (app cutoff)
    Valuation Reasonableness
    ✗MungerP/E < 25 or Owner Earnings Yield > 5%
    P/E or FCF YieldFCF Yield=-22.3%
    ✗PabraiP/E < 15 or FCF Yield > 10%
    P/B or P/E vs. Historical AverageP/B=5.2x
    ✗MarksP/E < 15 or P/B < 2.0
    Discount to Intrinsic ValueN/A (negative normalized EPS)
    ✗Marks>= 20% below intrinsic value
    Price / FCF per ShareN/A (negative FCF)
    ✗Ackman<= 25
    Price vs. Trailing Low739% of trailing low ($0.27)
    ✗Templeton<= 120% of trailing low (certified split-adjusted live window)
    Net income / market capitalization-35.19%; #4894/6340 (top 77.2%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Positive book equity / market capitalization+0.4227; #3176/6449 (top 49.2%)
    ✗AsnessTop 30% of eligible cross-section
    Price / Diluted EPS
    ✗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 Share18.11x
    ✗SchlossP/TBV <= 1.00x (app cutoff)
    Book Value per Share Change+723.5%
    ✓SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)
    Revenue / market capitalization+0.0361; #4662/5247 (top 88.9%)
    ✗OshaughnessyTop 10% of eligible cross-section
    (Operating cash flow - capex) / market capitalization-22.34%; #3553/4519 (top 78.6%)
    ✗OshaughnessyTop 10% of eligible cross-section
    Trailing six-month price return through the evaluation date+607.14%; #70/6202 (top 1.1%)
    ✓OshaughnessyTop 10% of eligible cross-section
  • Cash Flow0% pass✓ 1✗ 11▾

    No clean pass — all 10 investors flag at least one cash flow criterion

    Free Cash Flow Proxy
    ✗BuffettPositive and growing
    FCF Positive and Growing$-3.2M
    ✗LynchPositive and growing
    Operating Cash Flow$-3.2M
    ✗PiotroskiCFO > 0
    (CFO / Total Assets) vs ROACFO/Assets=-35.52%, ROA=-56.04%
    ✓PiotroskiCFO/Assets > ROA
    Price / (CFO / Shares)N/A (negative CFPS)
    ✗Dreman< 8x
    P/E or FCF YieldFCF Yield=-22.3%
    ✗PabraiP/E < 15 or FCF Yield > 10%
    FCF Positive0/2 years FCF positive
    ✗MarksPositive FCF in majority of recent years
    (OCF - CapEx) / Market Cap-10.2%
    ✗Ackman>= 4%
    Price / FCF per ShareN/A (negative FCF)
    ✗Ackman<= 25
    Positive Operating Cash Flow frequency0/4 years positive
    ✗SleepPositive OCF in >= 70% of available years
    Operating Cash Flow - Capital Expenditures$-3.2M
    ✗Neff> $0 (app proxy for a strong fundamental case)
    (Operating cash flow - capex) / market capitalization-22.34%; #3553/4519 (top 78.6%)
    ✗OshaughnessyTop 10% of eligible cross-section
  • 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 GrowthInv: -55.3% vs Rev: 16.7%
    ✓LynchInventory growth < Revenue growth
    EPS Growth Direction$0.01 (2022) -> $-0.32 (2025)
    ✗DremanPositive over recent years
    EPS CAGR
    ✗Dreman> 5% annualized
    Positive Net Income Frequency1/4 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    3yr Median Revenue Growth-7.5%
    ✗Ackman>= 5%
    Positive EPS Growth Frequency0/3 years with positive EPS growth
    ✗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 74.9% -> 62.6%, operating margin -48.8% -> -991.7%
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    5-year Revenue CAGR
    ✗SleepCAGR > 7%
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
  • Verdicts6% pass✓ 1✗ 15▾

    Split decision: 14 FAIL · 1 PASS · 1 NEUTRAL

    Overall verdict
    ✗GrahamFAIL (1/9)✗BuffettFAIL (0/9)✗LynchFAIL (2/7)✗GreenblattRank #2851✗PiotroskiFAIL (F-Score 2)✗DremanFAIL (2/11)✓MungerPASS (2/4)✗PabraiFAIL (0/3)✗AkreFAIL (2/6)✗MarksFAIL (0/5)✗AckmanFAIL (1/9)✗TempletonFAIL (2/8)✗SleepFAIL (1/6)✗AsnessFAIL (Rank #1599/2370 (Top 67.5%))✗NeffFAIL (1/6)✗SchlossFAIL (3/7)•OshaughnessyNEUTRAL (Not ranked)
  • Efficiency25% pass✓ 2✗ 9▾

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

    Current Ratio8.83
    ✓Graham>= 2.0
    ROIC (3-5 yr avg)-154.4%
    ✗Buffett> 10%
    ROIC - WACC-164.4%
    ✗BuffettPositive (WACC = 10%)
    EBIT / (NWC + Net Fixed Assets)-238.7%
    ✗Greenblatt> 25%
    Current Ratio Change YoY12.40 -> 8.83
    ✗PiotroskiIncreased YoY
    Revenue / Total Assets Change YoY0.07x -> 0.06x
    ✗PiotroskiImproved YoY
    Current Assets / Current Liabilities8.83
    ✓Dreman> 1.5
    Return on Invested Capital-65.4%
    ✗Munger> 15%
    ROIC (high and growing)FY2023: ROIC=unavailable; FY2024: ROIC=-9.5%; FY2025: ROIC=-65.4%
    ✗AkreLatest 3 consecutive FYs: ROIC > 15% in each
    Reinvestment Rate x ROICN/A (non-positive net income)
    ✗AkreReinvestment Rate * ROIC > 10%
    ROIC (5-year)0/2 years above 12% (latest -65.4%)
    ✗SleepROIC > 12% in a majority of years

Business & financials

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

Company Profile

Industry: Medical Equipment
SIC Sector: Measuring & Medical Instruments
Size: Micro Cap($14.5M)
Revenue: $523031.00+16.7% YoY
Net Income: $5.1M-671.7% YoY

Financial Snapshot

Operating Margin-991.7%
Return on Equity-83.3%
Debt / Equity0.02
Current Ratio8.83
EPS (Diluted)$-0.32
Shares Retired−26.1% / −33.6% 2y

Similar Companies

ALCALCON INC
$35.6B
PHGKONINKLIJKE PHILIPS NV
$29.7B
WSTWEST PHARMACEUTICAL SERVICES INC
$29.0B
SNNSMITH & NEPHEW PLC
$13.1B

Shareholder Return

Fiscal 2025

Issued 26.1% of shares last year, 33.6% issued over two.

Buybacks
—
Dividends
$8.9K

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.

MetricFY 2025
Sources
  • 20-F · 2026-03-30
FY 2024
Sources
  • 20-F · 2025-03-20
FY 2023
Sources
  • 20-F · 2025-03-20
FY 2022
Sources
  • 20-F · 2025-03-20
FY 2021
Sources
  • 20-F · 2025-03-20
Market Cap$14.5Mcurrent$38.3Mest.$67.3Mest.----
Revenue$523.0K↑17%$448.2K↓29%$628.6K↓8%$679.8K--
Operating Income-$5.2M↓573%-$770.3K↓151%-$306.7K↓1214%$27.5K--
Net Income-$5.1M↓672%-$660.6K↓174%-$241.2K↓387%$84.0K--
EPS (Diluted)$-0.32↓512%$-0.05↓160%$-0.02↓386%$0.01--
Gross Margin62.6%↓26%85.0%↑14%74.9%↓9%82.1%—
Operating Margin-991.7%↓477%-171.9%↓252%-48.8%↓1305%4.0%—
ROE-83.3%↓680%-10.7%↑86%-78.8%↓622%15.1%—
Total Debt$143.0K↓42%$248.0K------
Shareholders' Equity$6.1M↓1%$6.2M↑1919%$306.3K↓45%$556.3K↓42%$954.3K
Current Ratio8.83↓29%12.40↑2707%0.44——
Debt / Equity0.02↓42%0.04———
Operating Cash Flow-$3.2M↓317%-$775.0K↓1118%-$63.6K↑45%-$116.2K--
Free Cash Flow-$3.2M↓317%-$775.9K------

Score history

Historical Score Timeline

Industry peers

Industry Peers

Similar companies in Medical Equipment

ITOC vs Peers — Financial Grading

Revenue$523031.00Bottom 25%
Net Income$5.1MBottom 25%
ROE-83.3%Bottom 25%
D/E0.02Top 25%
Op. Margin-991.7%Bottom 25%
Curr. Ratio8.83Top 25%
CompanyMarket CapPriceRevenueNet IncomeROED/EOp. MarginCurr. RatioGrahamBuffettLynchGreenblattPiotroskiDreman
ALCON INCALC$35.6B$74.12$10.4B$980.0M4.4%0.2113.1%2.122/91/93/70/3F-Score 64/11
KONINKLIJKE PHILIPS NVPHG$29.7B$30.34$21.0B$1.1B8.2%0.648.0%1.321/91/91/70/3F-Score 53/11
WEST PHARMACEUTICAL SERVICES INCWST$29.0B$416.42$3.1B$493.7M15.5%0.0619.0%3.024/96/96/71/3F-Score 75/11
SMITH & NEPHEW PLCSNN$13.1B$31.28$6.2B$625.0M11.8%0.5912.9%2.572/90/91/70/3F-Score 64/11
MSA Safety IncMSA$6.7B$174.17$1.9B$278.9M20.4%0.4219.8%3.015/95/94/71/3F-Score 57/11
STAAR SURGICAL COSTAA$1.3B$26.39$239.4M$80.4M-23.4%—-38.3%4.552/92/92/70/3F-Score 33/11
ARTIVION, INC.AORT$931.9M$19.10$441.3M$9.8M2.2%0.487.6%3.532/90/90/70/3F-Score 71/11
InMode Ltd.INMD$763.6M$13.27$370.5M$93.8M13.7%—23.0%9.885/93/90/73/3F-Score 44/11