MARCHEX INC

MCHX

Marchex, Inc., a conversation intelligence company, provides conversational analytics and related solutions in the United States, Canada, and internationally.

About the company

Marchex, Inc., a conversation intelligence company, provides conversational analytics and related solutions in the United States, Canada, and internationally.

Country: United StatesPrice: $1.41Market Cap: $62.5M

Investment snapshot

12%positive consensus

Scored 1d ago

Positive

BUY / PASS

Neutral / negative

1 / 13

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

Verdict	Meaning
BUY	Positive purchase signal: the framework's buy requirements are met.
PASS	The 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.
NEUTRAL	Neither a positive nor negative conclusion. It does not mean to hold an existing position.
FAIL	The company does not clear the framework's requirements.
Ranked	Ranked 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.

Metric	Graham 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
Verdict	FAIL	FAIL	FAIL	FAIL · Rank #2622 (Top 84.7%)	FAIL	FAIL	PASS	FAIL	FAIL	FAIL	FAIL	PASS	FAIL	FAIL	FAIL	FAIL	NEUTRAL
Score
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Intrinsic Value (annual)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Margin of Safety	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financial Basis	TTM ended 2026-06-30 · Balance sheet at 2026-06-30 · Annual history · FY 2025 Latest source filing: 2026-08-13 Score computed: 2026-11-14	Annual history · FY 2025 Latest source filing: 2026-03-26 Score computed: 2026-11-14	Annual history · FY 2025 · Balance sheet at 2026-06-30 · TTM ended 2026-06-30 Latest source filing: 2026-08-13 Score computed: 2026-11-14	Annual history · FY 2025 Latest source filing: 2026-03-26 Score computed: 2026-11-14	Annual history · FY 2025 Latest source filing: 2026-03-26 Score computed: 2026-11-14	Annual history · FY 2025 · TTM ended 2026-06-30 · Balance sheet at 2026-06-30 · Market data at 2026-11-01 Latest source filing: 2026-08-13 Score computed: 2026-11-14	Qualitative assessment · Annual history · FY 2025 · TTM ended 2026-06-30 · Balance sheet at 2026-06-30 Latest source filing: 2026-08-13 Score computed: 2026-11-14	Qualitative assessment · Annual history · FY 2025 Latest source filing: 2026-03-26 Score computed: 2026-11-14	Annual history · FY 2025 · Qualitative assessment · Balance sheet at 2026-06-30 Latest source filing: 2026-08-13 Score computed: 2026-11-14	Annual history · FY 2025 · Qualitative assessment Latest source filing: 2026-03-26 Score computed: 2026-11-14	Annual history · FY 2025 · TTM ended 2026-06-30 · Balance sheet at 2026-06-30 · Market data at 2026-11-01 Latest source filing: 2026-08-13 Score computed: 2026-11-14	Annual history · FY 2025 · Price history 2025-01-01–2026-11-01 · Balance sheet at 2026-06-30 Latest source filing: 2026-08-13 Score computed: 2026-11-14	Annual history · FY 2025 · Qualitative assessment Latest source filing: 2026-03-26 Score computed: 2026-11-14	TTM ended 2026-06-30 · Balance sheet at 2026-06-30 · Price history 2025-01-01–2026-11-01 · Annual history · FY 2025 Latest source filing: 2026-08-13 Score computed: 2026-11-14	Annual history · FY 2025 Latest source filing: 2026-03-26 Score computed: 2026-11-14	Annual history · FY 2025 · Balance sheet at 2026-06-30 Latest source filing: 2026-08-13 Score computed: 2026-11-14	TTM ended 2026-06-30 · Annual history · FY 2025 · Price history 2025-01-01–2026-11-01 Latest source filing: 2026-08-13 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 Coverage
✗BuffettD/E < 0.5 AND Interest Coverage > 5x
Total Debt / Equity0
✓Lynch< 0.33
Cash - Long-term Debt
✗LynchPositive preferred
LT Debt / Total Assets Change0.00% -> 0.00%
✓PiotroskiDecreased YoY
Current Assets / Current Liabilities2.29
✓Dreman> 1.5✓SchlossCurrent ratio >= 1.50x (app cutoff)
Total Debt / Shareholders' Equity0
✓Dreman< 0.8✓Templeton< 1.0 (fixed cap; proxy for below-sector-median leverage)✓SchlossD/E < 1.00x
Debt Levels0
✓MungerDebt/Equity < 0.5✓AkreDebt/Equity < 0.3
Interest Coverage & Debt/EBITDAIC=-69.8x, D/EBITDA=N/A
✗MarksInterest Coverage > 3x; Debt/EBITDA < 4x
Total Debt / Shareholders Equity0
✓Ackman<= 1.0
Negative debt-to-equity (higher means less debt)-0.0034; #460/4210 (top 10.9%)
✓AsnessTop 30% of eligible cross-section

Where It Falls Short

Profitability0% pass✓ 4✗ 31▾
No clean pass — all 16 investors flag at least one profitability criterion
Positive EPS (10 years)5/24 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)7/24 years positive
✗BuffettPositive every year for 10+ years
ROE (up to 5-year arithmetic mean)-17.5%
✗Buffett> 15% arithmetic mean (app rule)
Operating Margin (10-yr trend)-12.6% (latest)
✗BuffettStable or rising over 10 years
Free Cash Flow Proxy$-3.9M
✗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-18.8%
✗Lynch> 15%
EBIT / Enterprise Value-10.9%
✗Greenblatt> 10%
Earnings Yield + ROC AssessmentEY=-10.9%, ROC=-198.5%
✗GreenblattBoth EY > 10% and ROC > 25%
Net Income / Total Assets-13.19%
✗PiotroskiROA > 0
ROA Change YoY-11.45% -> -13.19% (delta: -1.74%)
✗PiotroskiCurrent ROA > Prior ROA
(CFO / Total Assets) vs ROACFO/Assets=-3.55%, ROA=-13.19%
✓PiotroskiCFO/Assets > ROA
Gross Margin Change YoY64.3% -> 63.2%
✗PiotroskiImproved YoY
Pre-Tax Income / Revenue-11.8%
✗Dreman>= 8%
Net Income / Shareholders' Equity-18.8%
✗Dreman> 12%
Margin of Safety
✗PabraiP/B < 1.5 or P/E < 15
Return on Equity-20.1% (3-yr avg)
✗AkreROE > 20% (3-year avg)
Discount to Intrinsic ValueN/A (negative normalized EPS)
✗Marks>= 20% below intrinsic value
Positive Net Income Frequency7/21 years positive
✓MarksPositive net income in >= 7 of last 10 years
Operating Income / Revenue-11.4%
✗Ackman>= 15%
Net Income / Shareholders Equity-18.8%
✗Ackman>= 15%
5-Year EPS CAGR
✗Templeton> 0% (5-year EPS CAGR)
Operating Margin Trend-19.3% (2023) -> -12.6% (2025)
✓TempletonNon-negative operating-margin trend over 3 years
Revenue growth vs. gross and operating margin trendgross margin 58.8% -> 63.2%, operating margin -19.3% -> -12.6%
✗SleepRevenue rising; gross margin flat or falling; operating margin holding
Net income / market capitalization-8.75%; #4119/6340 (top 65.0%)
✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
Gross profit / total assets+72.34%; #320/3702 (top 8.6%)
✓AsnessTop 30% of eligible cross-section
Net income / positive book equity-18.84%; #3659/5226 (top 70.0%)
✗AsnessTop 30% of eligible cross-section
Negative 5-year standard deviation of ROA-0.0461; #2471/5884 (top 42.0%)
✗AsnessTop 30% of eligible cross-section
3-5 Year Diluted EPS CAGR68.8% over 4 years
✗Neff7%-20% annualized
Positive Diluted-EPS Years0/6 years positive
✗Schloss>= 70% positive over 5-10 observed years (app rule)
Valuation0% pass✓ 1✗ 27▾
No clean pass — all 13 investors flag at least one valuation criterion
Price / 3-yr avg EPS
✗Graham<= 15x
Price-to-Book Ratio
✗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-10.9%
✗Greenblatt> 10%
Earnings Yield + ROC AssessmentEY=-10.9%, ROC=-198.5%
✗GreenblattBoth EY > 10% and ROC > 25%
Price / EPS
✗Dreman< 12x✗Templeton< 12x (fixed ceiling; proxy for the market's cheapest 40%)
Price / (CFO / Shares)
✗Dreman< 8x
Price / Book Value per Share
✗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=-2.3%
✗PabraiP/E < 15 or FCF Yield > 10%
P/B or P/E vs. Historical Average
✗MarksP/E < 15 or P/B < 2.0
Discount to Intrinsic ValueN/A (negative normalized EPS)
✗Marks>= 20% below intrinsic value
Price / FCF per Share
✗Ackman<= 25
Price vs. Trailing Low109% of trailing low ($1.29)
✓Templeton<= 120% of trailing low (certified split-adjusted live window)
Net income / market capitalization-8.75%; #4119/6340 (top 65.0%)
✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
Positive book equity / market capitalization+0.4643; #3018/6449 (top 46.8%)
✗AsnessTop 30% of eligible cross-section
Price / Diluted EPS
✗NeffP/E <= 15x (app proxy for a P/E 40%-60% below the market)
(EPS CAGR % + Dividend Yield %) / P/E
✗Neff> 0.7 (Neff's published traditional edge)
Price / Tangible Book Value per Share
✗SchlossP/TBV <= 1.00x (app cutoff)
Book Value per Share Change
✗SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)
Revenue / market capitalization+0.7034; #2195/5247 (top 41.8%)
✗OshaughnessyTop 10% of eligible cross-section
(Operating cash flow - capex) / market capitalization-2.31%; #2780/4519 (top 61.5%)
✗OshaughnessyTop 10% of eligible cross-section
Trailing six-month price return through the evaluation date-9.03%; #3376/6202 (top 54.4%)
✗OshaughnessyTop 10% of eligible cross-section
Cash Flow10% pass✓ 2✗ 10▾
9 of 10 flag MCHX's cash flow — Buffett, Lynch, Piotroski +6 more
Free Cash Flow Proxy$-3.9M
✗BuffettPositive and growing
FCF Positive and Growing$-1.4M
✗LynchPositive and growing
Operating Cash Flow$-1.4M
✗PiotroskiCFO > 0
(CFO / Total Assets) vs ROACFO/Assets=-3.55%, ROA=-13.19%
✓PiotroskiCFO/Assets > ROA
Price / (CFO / Shares)
✗Dreman< 8x
P/E or FCF YieldFCF Yield=-2.3%
✗PabraiP/E < 15 or FCF Yield > 10%
FCF Positive10/17 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 frequency14/21 years positive
✗SleepPositive OCF in >= 70% of available years
Operating Cash Flow - Capital Expenditures$-1.4M
✗Neff> $0 (app proxy for a strong fundamental case)
(Operating cash flow - capex) / market capitalization-2.31%; #2780/4519 (top 61.5%)
✗OshaughnessyTop 10% of eligible cross-section
Growth13% pass✓ 2✗ 11▾
7 of 8 flag MCHX's growth — Graham, Lynch, Dreman +4 more
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 Frequency7/21 years positive
✓MarksPositive net income in >= 7 of last 10 years
3yr Median Revenue Growth-4.3%
✗Ackman>= 5%
Positive EPS Growth Frequency1/4 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 58.8% -> 63.2%, operating margin -19.3% -> -12.6%
✗SleepRevenue rising; gross margin flat or falling; operating margin holding
5-year Revenue CAGR-2.4%
✗SleepCAGR > 7%
3-5 Year Diluted EPS CAGR68.8% over 4 years
✗Neff7%-20% annualized
Verdicts13% pass✓ 2✗ 14▾
Split decision: 13 FAIL · 2 PASS · 1 NEUTRAL
Overall verdict
✗GrahamFAIL (1/9)✗BuffettFAIL (0/9)✗LynchFAIL (2/7)✗GreenblattRank #2622✗PiotroskiFAIL (F-Score 3)✗DremanFAIL (2/11)✓MungerPASS (2/4)✗PabraiFAIL (0/3)✗AkreFAIL (2/6)✗MarksFAIL (2/5)✗AckmanFAIL (2/9)✓TempletonPASS (4/8)✗SleepFAIL (1/6)✗AsnessFAIL (Rank #1241/2370 (Top 52.4%))✗NeffFAIL (0/6)✗SchlossFAIL (2/7)•OshaughnessyNEUTRAL (Not ranked)
Efficiency25% pass✓ 3✗ 8▾
6 of 8 flag MCHX's efficiency — Buffett, Greenblatt, Piotroski +3 more
Current Ratio2.29
✓Graham>= 2.0
ROIC (3-5 yr avg)-39.4%
✗Buffett> 10%
ROIC - WACC-49.4%
✗BuffettPositive (WACC = 10%)
EBIT / (NWC + Net Fixed Assets)-198.5%
✗Greenblatt> 25%
Current Ratio Change YoY2.40 -> 2.36
✗PiotroskiIncreased YoY
Revenue / Total Assets Change YoY1.11x -> 1.14x
✓PiotroskiImproved YoY
Current Assets / Current Liabilities2.29
✓Dreman> 1.5
Return on Invested Capital-13.6%
✗Munger> 15%
ROIC (high and growing)FY2023: ROIC=-20.5%; FY2024: ROIC=-10.6%; FY2025: ROIC=unavailable
✗AkreLatest 3 consecutive FYs: ROIC > 15% in each
Reinvestment Rate x ROIC
✗AkreReinvestment Rate * ROIC > 10%
ROIC (5-year)0/2 years above 12% (latest -10.6%)
✗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: Business Services

Size: Micro Cap($62.5M)

Revenue: $45.4M-5.6% YoY

Net Income: $5.2M-5.8% YoY

Financial Snapshot

Operating Margin-12.6%

Return on Equity-17.4%

Debt / Equity--

Current Ratio2.36

EPS (Diluted)$-0.12

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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.

Metric	TTM · 2026-06-30 2025-07-01 – 2026-06-30 Sources · derived quarter values 10-Q · 2025-11-14 10-K · 2026-03-26 10-Q · 2026-05-14 10-Q · 2026-08-13 Derived from cumulative filings: operating cash flow, capex, revenue, net income, operating income, ebit, pre tax income, depreciation amortization.	Q2 FY 2026 2026-04-01 – 2026-06-30 Sources · derived quarter values 10-Q · 2026-08-13 Derived from cumulative filings: operating cash flow.	Q1 FY 2026 2026-01-01 – 2026-03-31 Sources 10-Q · 2026-05-14	FY 2025 Sources 10-K · 2026-03-26	FY 2024 Sources 10-K · 2025-03-14	FY 2023 Sources 10-K · 2024-04-01	FY 2022 Sources 10-K · 2023-03-31	FY 2021 Sources 10-K · 2022-03-29
Market Cap	$62.5Mcurrent	--	--	--	--	--	--	--
Revenue	$44.0M↓7%	$11.0M↓6%	$10.6M↓7%	$45.4M↓6%	$48.1M↓4%	$49.9M↓4%	$52.2M↓2%	$53.5M
Operating Income	-$5.0M↓4%	-$346.0K↑35%	-$1.4M↑28%	-$5.7M↓29%	-$4.4M↑54%	-$9.6M↓18%	-$8.1M↑31%	-$11.8M
Net Income	-$5.5M↓18%	-$408.0K↓580%	-$1.7M↑13%	-$5.2M↓6%	-$4.9M↑50%	-$9.9M↓20%	-$8.2M↓88%	-$4.4M
EPS (Diluted)	--	$-0.01	$-0.04↑20%	$-0.12↓9%	$-0.11↑52%	$-0.23↓21%	$-0.19↓90%	$-0.10
Gross Margin	—	—	—	63.2%↓2%	64.3%↑9%	58.8%↓3%	60.8%↑2%	59.4%
Operating Margin	-11.4%↓12%	-3.1%↑32%	-12.7%↑22%	-12.6%↓36%	-9.2%↑52%	-19.3%↓24%	-15.6%↑29%	-22.1%
ROE	-18.8%↓30%	—	—	-17.4%↓15%	-15.2%↑45%	-27.6%↓48%	-18.7%↓119%	-8.5%
Total Debt	$100.0K↓46%	$100.0K↓46%	$100.0K↓66%	--	$397.0K↓67%	$1.2M	--	--
Shareholders' Equity	$29.0M↓9%	$29.0M↓9%	$28.9M↓8%	$30.1M↓8%	$32.6M↓9%	$35.9M↓19%	$44.1M↓14%	$51.5M
Current Ratio	2.29↓5%	2.29↓5%	2.22↓11%	2.36↓2%	2.40↓2%	2.45↓4%	2.56↓14%	2.96
Debt / Equity	0.00↓41%	0.00↓41%	0.00↓63%	—	0.01↓64%	0.03	—	—
Operating Cash Flow	-$752.0K↓34%	-$649.0K↓181%	-$514.0K↑80%	-$1.4M↓28%	-$1.1M↑75%	-$4.4M↓92%	-$2.3M↑64%	-$6.3M
Free Cash Flow	--	--	--	-$1.4M↑3%	-$1.5M↑74%	-$5.8M↓12%	-$5.2M↑33%	-$7.7M

Score history

Historical Score Timeline

Industry peers

Industry Peers

Similar companies in Business Services

MCHX vs Peers — Financial Grading

Revenue$45.4MBottom 25%

Net Income$5.2MMedian

ROE-17.4%Bottom 25%

D/E—

Op. Margin-12.6%Bottom 25%

Curr. Ratio2.36Top 25%

Company	Market Cap	Price	Revenue	Net Income	ROE	D/E	Op. Margin	Curr. Ratio	Graham	Buffett	Lynch	Greenblatt	Piotroski	Dreman
AUTOMATIC DATA PROCESSING INCADP	$122.3B	$309.93	$21.9B	$4.4B	73.2%	0.82	24.2%	1.05	4/9	5/9	3/7	0/3	F-Score 6	5/11
ELECTRONIC ARTS INC.EA	$52.9B	$209.70	$7.5B	$887.0M	13.1%	0.22	15.4%	1.05	1/9	4/9	4/7	0/3	F-Score 6	6/11
Rubrik, Inc.RBRK	$22.6B	$109.88	$1.3B	$348.8M	67.1%	—	-26.2%	1.69	1/9	0/9	2/7	0/3	F-Score 6	2/11
AECOMACM	$9.1B	$70.50	$16.1B	$561.8M	22.5%	1.09	6.4%	1.14	1/9	3/9	3/7	1/3	F-Score 8	2/11
COMMVAULT SYSTEMS INCCVLT	$6.2B	$152.07	$1.2B	$70.7M	942.8%	—	6.3%	1.95	1/9	2/9	4/7	0/3	F-Score 6	6/11
WPP plcWPP	$6.0B	$27.79	$18.2B	$289.5M	-8.5%	1.94	2.8%	0.89	1/9	2/9	1/7	0/3	F-Score 3	2/11
VARONIS SYSTEMS INCVRNS	$5.6B	$48.94	$623.5M	$129.3M	-21.6%	0.76	-23.5%	1.97	1/9	0/9	1/7	0/3	F-Score 5	1/11
ROBERT HALF INC.RHI	$4.3B	$42.00	$5.4B	$133.0M	10.4%	—	1.4%	1.53	2/9	5/9	1/7	0/3	F-Score 5	2/11