MultiSensor AI Holdings, Inc.

MSAI
About the company

MultiSensor AI Holdings, Inc. builds and deploys integrated condition monitoring and early threat detection solutions that connect multiple sensor types through a unified edge-to-cloud software architecture in the United States and internationally.

Country: United StatesPrice: $3.55Market Cap: $7.9M

Investment snapshot

12%positive consensus
Scored 1d ago

Positive

2

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 13 investors flag at least one valuation 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

VerdictFAILFAILFAILNot rankedPASSFAILFAILFAILFAILFAILFAILPASSFAILFAILFAILFAILNEUTRAL
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/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

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

Latest source filing: 2026-11-12

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-19

Score computed: 2026-11-14

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

Latest source filing: 2026-11-12

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-19

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-19

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: 2026-11-12

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2025

Latest source filing: 2026-03-19

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2025

Latest source filing: 2026-03-19

Score computed: 2026-11-14

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

Latest source filing: 2026-11-12

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment

Latest source filing: 2026-03-19

Score computed: 2026-11-14

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

Latest source filing: 2026-11-12

Score computed: 2026-11-14

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

Latest source filing: 2026-03-19

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment

Latest source filing: 2026-03-19

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: 2026-11-12

Score computed: 2026-11-14

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

Latest source filing: 2026-11-12

Score computed: 2026-11-14

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

Latest source filing: 2026-11-12

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: 2026-11-12

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: 0.00, IC: N/A
    ✗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 Liabilities7.68
    ✓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/EBITDA
    ✗MarksInterest Coverage > 3x; Debt/EBITDA < 4x
    Total Debt / Shareholders Equity0
    ✓Ackman<= 1.0
    Negative debt-to-equity (higher means less debt)-0.0000; #1/4210 (top 0.0%)
    ✓AsnessTop 30% of eligible cross-section

Where It Falls Short

  • Valuation0% pass✓ 3✗ 25▾

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

    Price / 3-yr avg EPS
    ✗Graham<= 15x
    Price-to-Book Ratio4.1x
    ✗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 ValueN/A (EV <= 0)
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=N/A (EV <= 0), ROC=-151.0%
    ✗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 Share4.1x
    ✗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=-122.6%
    ✗PabraiP/E < 15 or FCF Yield > 10%
    P/B or P/E vs. Historical AverageP/B=4.1x
    ✗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 Low106% of trailing low ($3.35)
    ✓Templeton<= 120% of trailing low (certified split-adjusted live window)
    Net income / market capitalization-116.29%; #5466/6340 (top 86.2%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Positive book equity / market capitalization+3.3954; #417/6449 (top 6.5%)
    ✓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 Share4.14x
    ✗SchlossP/TBV <= 1.00x (app cutoff)
    Book Value per Share Change+145.9%
    ✓SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)
    Revenue / market capitalization+0.7876; #2060/5247 (top 39.3%)
    ✗OshaughnessyTop 10% of eligible cross-section
    (Operating cash flow - capex) / market capitalization-97.21%; #4064/4519 (top 89.9%)
    ✗OshaughnessyTop 10% of eligible cross-section
    Trailing six-month price return through the evaluation date-38.90%; #4763/6202 (top 76.8%)
    ✗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$-7.7M
    ✗LynchPositive and growing
    Operating Cash Flow$-8.0M
    ✗PiotroskiCFO > 0
    (CFO / Total Assets) vs ROACFO/Assets=-22.61%, ROA=-33.02%
    ✓PiotroskiCFO/Assets > ROA
    Price / (CFO / Shares)N/A (negative CFPS)
    ✗Dreman< 8x
    P/E or FCF YieldFCF Yield=-122.6%
    ✗PabraiP/E < 15 or FCF Yield > 10%
    FCF Positive0/4 years FCF positive
    ✗MarksPositive FCF in majority of recent years
    (OCF - CapEx) / Market Cap-5.8%
    ✗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$-7.7M
    ✗Neff> $0 (app proxy for a strong fundamental case)
    (Operating cash flow - capex) / market capitalization-97.21%; #4064/4519 (top 89.9%)
    ✗OshaughnessyTop 10% of eligible cross-section
  • Growth0% pass✓ 2✗ 11▾

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

    EPS Growth (3-yr avg, 10-yr window)N/A (negative base EPS)
    ✗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: -3.3% vs Rev: 11.5%
    ✓LynchInventory growth < Revenue growth
    EPS Growth Direction$-2.51 (2022) -> $-0.31 (2025)
    ✗DremanPositive over recent years
    EPS CAGR
    ✗Dreman> 5% annualized
    Positive Net Income Frequency0/4 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    3yr Median Revenue Growth-25.0%
    ✗Ackman>= 5%
    Positive EPS Growth Frequency2/3 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 57.7% -> 52.5%, operating margin -395.5% -> -216.4%
    ✓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
  • Profitability6% pass✓ 5✗ 30▾

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

    Positive EPS (10 years)0/6 years positive
    ✗GrahamPositive EPS every year for 10 years
    EPS Growth (3-yr avg, 10-yr window)N/A (negative base EPS)
    ✗Graham>= 33% growth
    Net Income Positive (10+ years)0/6 years positive
    ✗BuffettPositive every year for 10+ years
    ROE (up to 5-year arithmetic mean)-105.7%
    ✗Buffett> 15% arithmetic mean (app rule)
    Operating Margin (10-yr trend)-216.4% (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-34.3%
    ✗Lynch> 15%
    EBIT / Enterprise ValueN/A (EV <= 0)
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=N/A (EV <= 0), ROC=-151.0%
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Net Income / Total Assets-33.02%
    ✗PiotroskiROA > 0
    ROA Change YoY-138.87% -> -33.02% (delta: +105.86%)
    ✓PiotroskiCurrent ROA > Prior ROA
    (CFO / Total Assets) vs ROACFO/Assets=-22.61%, ROA=-33.02%
    ✓PiotroskiCFO/Assets > ROA
    Gross Margin Change YoY65.1% -> 52.5%
    ✗PiotroskiImproved YoY
    Pre-Tax Income / Revenue-148.1%
    ✗Dreman>= 8%
    Net Income / Shareholders' Equity-34.3%
    ✗Dreman> 12%
    Margin of SafetyP/B=4.1x
    ✗PabraiP/B < 1.5 or P/E < 15
    Return on Equity-105.7% (3-yr avg)
    ✗AkreROE > 20% (3-year avg)
    Discount to Intrinsic ValueN/A (negative normalized EPS)
    ✗Marks>= 20% below intrinsic value
    Positive Net Income Frequency0/4 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    Operating Income / Revenue-156.1%
    ✗Ackman>= 15%
    Net Income / Shareholders Equity-34.3%
    ✗Ackman>= 15%
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Operating Margin Trend-395.5% (2023) -> -216.4% (2025)
    ✓TempletonNon-negative operating-margin trend over 3 years
    Revenue growth vs. gross and operating margin trendgross margin 57.7% -> 52.5%, operating margin -395.5% -> -216.4%
    ✓SleepRevenue rising; gross margin flat or falling; operating margin holding
    Net income / market capitalization-116.29%; #5466/6340 (top 86.2%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Gross profit / total assets+8.21%; #2921/3702 (top 78.9%)
    ✗AsnessTop 30% of eligible cross-section
    Net income / positive book equity-34.25%; #3977/5226 (top 76.1%)
    ✗AsnessTop 30% of eligible cross-section
    Negative 5-year standard deviation of ROA-0.4416; #4860/5884 (top 82.6%)
    ✗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)
  • Verdicts13% pass✓ 2✗ 13▾

    Split decision: 13 FAIL · 2 PASS · 1 NEUTRAL

    Overall verdict
    ✗GrahamFAIL (1/9)✗BuffettFAIL (1/9)✗LynchFAIL (2/7)•GreenblattNot ranked✓PiotroskiPASS (F-Score 4)✗DremanFAIL (2/11)✗MungerFAIL (1/4)✗PabraiFAIL (0/3)✗AkreFAIL (1/6)✗MarksFAIL (0/5)✗AckmanFAIL (1/9)✓TempletonPASS (4/8)✗SleepFAIL (1/6)✗AsnessFAIL (Rank #1988/2370 (Top 83.9%))✗NeffFAIL (0/6)✗SchlossFAIL (3/7)•OshaughnessyNEUTRAL (Not ranked)
  • Efficiency25% pass✓ 3✗ 8▾

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

    Current Ratio7.68
    ✓Graham>= 2.0
    ROIC (3-5 yr avg)-186.0%
    ✗Buffett> 10%
    ROIC - WACC-196.0%
    ✗BuffettPositive (WACC = 10%)
    EBIT / (NWC + Net Fixed Assets)-151.0%
    ✗Greenblatt> 25%
    Current Ratio Change YoY3.49 -> 11.66
    ✓PiotroskiIncreased YoY
    Revenue / Total Assets Change YoY0.48x -> 0.16x
    ✗PiotroskiImproved YoY
    Current Assets / Current Liabilities7.68
    ✓Dreman> 1.5
    Return on Invested Capital-29.6%
    ✗Munger> 15%
    ROIC (high and growing)FY2023: ROIC=-213.8%; FY2024: ROIC=-119.7%; FY2025: ROIC=-29.6%
    ✗AkreLatest 3 consecutive FYs: ROIC > 15% in each
    Reinvestment Rate x ROICN/A (non-positive net income)
    ✗AkreReinvestment Rate * ROIC > 10%
    ROIC (5-year)0/3 years above 12% (latest -29.6%)
    ✗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: Measuring and Control Equipment
SIC Sector: Measuring & Medical Instruments
Size: Micro Cap($7.9M)
Revenue: $5.6M-25.0% YoY
Net Income: $11.7M+45.5% YoY

Financial Snapshot

Operating Margin-216.4%
Return on Equity-36.6%
Debt / Equity0.00
Current Ratio11.66
EPS (Diluted)$-0.31
Shares Retired−22.3%

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Shareholder Return

Fiscal 2025

Issued 22.3% of shares last year.

Buybacks
—
Dividends
—

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: revenue, net income, operating income, ebit, pre tax income, operating cash flow, capex.

Q3 FY 2026

2026-07-01 – 2026-09-30

Sources · derived quarter values

Derived from cumulative filings: operating cash flow, capex.

Q2 FY 2026

2026-04-01 – 2026-06-30

Sources · derived quarter values

Derived from cumulative filings: operating cash flow, capex.

Q1 FY 2026

2026-01-01 – 2026-03-31

Sources
FY 2025
Sources
  • 10-K · 2026-03-19
FY 2024
Sources
  • 10-K · 2025-03-28
FY 2023
Sources
  • 10-K · 2024-03-29
FY 2022
Sources
  • 10-K · 2023-03-31
FY 2021
Sources
  • 10-K · 2022-06-21
Market Cap$7.9Mcurrent------$10.8Mest.$39.1Mest.$1.1Best.$1.5Best.$1.4Best.
Revenue$6.2M↑11%$1.5M↓4%$1.7M↑19%$1.6M↑38%$5.6M↓25%$7.4M↑36%$5.4M↓25%$7.3M--
Operating Income-$9.7M↑22%-$2.1M↓24%-$2.6M↑22%-$2.6M↑44%-$12.0M↑36%-$18.9M↑12%-$21.5M↓79%-$12.0M--
Net Income-$9.2M↑26%-$1.9M↓16%-$2.5M↑26%-$2.5M↑44%-$11.7M↑46%-$21.5M↑3%-$22.3M↓68%-$13.3M--
EPS (Diluted)--$-0.88↓1660%$-1.19↓1090%$-1.23↓779%$-0.31↑71%$-1.07↑70%$-3.56↓42%$-2.51--
Gross Margin————52.5%↓19%65.1%↑13%57.7%↑82%31.7%—
Operating Margin-156.1%↑30%-139.9%↓30%-153.5%↑34%-160.7%↑59%-216.4%↑15%-255.1%↑36%-395.5%↓139%-165.4%—
ROE-34.3%↑77%———-36.6%↑79%-174.9%↓102%8309.0%↑5032%161.9%—
Total Debt--------$0↓100%$172.0K↓98%$8.2M----
Shareholders' Equity$26.7M↑223%$26.7M↑223%$28.5M↑192%$29.7M↑130%$32.0M↑161%$12.3M↑4685%-$268.0K↑97%-$8.2M↓763%$1.2M
Current Ratio7.68↑281%7.68↑281%7.19↑262%12.99↑287%11.66↑235%3.49↑200%1.16↓45%2.13—
Debt / Equity————0.00↓100%0.01↑100%-30.60——
Operating Cash Flow-$6.7M↑24%-$387.0K↑79%-$2.4M↓198%-$1.7M↑47%-$8.0M↑48%-$15.6M↓242%-$4.6M↓44%-$3.2M--
Free Cash Flow-$7.7M↑31%-$603.0K↑72%-$2.6M↓104%-$1.8M↑50%-$9.7M↑47%-$18.2M↓199%-$6.1M↓28%-$4.8M--

Score history

Historical Score Timeline

Industry peers

Industry Peers

Similar companies in Measuring and Control Equipment

MSAI vs Peers — Financial Grading

Revenue$5.6MBottom 25%
Net Income$11.7MBottom 25%
ROE-36.6%Bottom 25%
D/E0.00Top 25%
Op. Margin-216.4%Bottom 25%
Curr. Ratio11.66Top 25%
CompanyMarket CapPriceRevenueNet IncomeROED/EOp. MarginCurr. RatioGrahamBuffettLynchGreenblattPiotroskiDreman
THERMO FISHER SCIENTIFIC INC.TMO$259.4B$700.22$44.6B$6.7B12.6%0.7417.4%1.893/93/93/71/3F-Score 57/11
DANAHER CORP /DE/DHR$163.9B$233.02$24.6B$3.6B6.9%0.3519.1%1.873/94/92/71/3F-Score 54/11
WATERS CORP /DE/WAT$90.5B$460.25$3.2B$642.6M25.1%0.5525.4%1.731/94/91/70/3F-Score 45/11
AGILENT TECHNOLOGIES, INC.A$49.0B$173.96$6.9B$1.3B19.3%0.4521.3%1.962/95/93/71/3F-Score 55/11
ROPER TECHNOLOGIES INCROP$47.5B$479.98$7.9B$1.5B7.7%0.4728.3%0.522/93/93/70/3F-Score 64/11
COHERENT CORP.COHR$43.0B$218.15$5.8B$49.4M0.9%0.691.6%2.193/91/90/70/3F-Score 44/11
TERADYNE, INCTER$39.0B$249.55$3.2B$554.0M19.8%0.0720.4%1.752/96/94/71/3F-Score 66/11
ILLUMINA, INC.ILMN$31.3B$207.01$4.3B$850.0M31.2%0.7318.6%2.082/91/93/71/3F-Score 85/11