Orchestra BioMed Holdings, Inc.

OBIO
About the company

Orchestra BioMed Holdings, Inc. operates as a biomedical company in the United States. The company's flagship product candidates include Atrioventricular Interval Modulation, a bioelectronic therapy candidate designed to immediately, substantially, and persistently lower blood pressure; and Virtue Sirolimus AngioInfusion Balloon for the treatment of atherosclerotic artery disease.

Country: United StatesPrice: $7.25Market Cap: $570.6M

Investment snapshot

6%positive consensus
Scored 1d ago

Positive

1

BUY / PASS

Neutral / negative

2 / 13

NEUTRAL / FAIL

Median fair value

—

No comparable estimates

Models with upside

0 / 17

Positive margin of safety

Strongest signal

9 of 12 pass — Buffett, Marks and Asness 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 #2454 (Top 79.2%)NEUTRALFAILPASSFAILFAILFAILFAILFAILFAILFAILFAILFAILNEUTRAL
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: 2026-11-10

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-12

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: 2026-11-10

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-12

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-12

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: 2026-11-10

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2025

Latest source filing: 2026-03-12

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2025

Latest source filing: 2026-03-12

Score computed: 2026-11-14

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

Latest source filing: 2026-11-10

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment

Latest source filing: 2026-03-12

Score computed: 2026-11-14

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

Latest source filing: 2026-11-10

Score computed: 2026-11-14

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

Latest source filing: 2026-03-12

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment

Latest source filing: 2026-03-12

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: 2026-11-10

Score computed: 2026-11-14

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

Latest source filing: 2026-11-10

Score computed: 2026-11-14

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

Latest source filing: 2026-11-10

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: 2026-11-10

Score computed: 2026-11-14

Where It Passes

  • Debt & Leverage75% pass✓ 12✗ 3▾

    9 of 12 pass — Buffett, Marks and Asness object

    LT Debt vs Net Current AssetsLT Debt $15.0M vs NCA $91.2M
    ✓GrahamLT Debt <= Net Current Assets
    Debt/Equity & Interest CoverageD/E: 0.28, IC: N/A
    ✗BuffettD/E < 0.5 AND Interest Coverage > 5x
    Total Debt / Equity0.28
    ✓Lynch< 0.33
    Cash - Long-term Debt$19.7M
    ✓LynchPositive preferred
    LT Debt / Total Assets Change19.69% -> 13.06%
    ✓PiotroskiDecreased YoY
    Current Assets / Current Liabilities7.25
    ✓Dreman> 1.5✓SchlossCurrent ratio >= 1.50x (app cutoff)
    Total Debt / Shareholders' Equity0.28
    ✓Dreman< 0.8✓Templeton< 1.0 (fixed cap; proxy for below-sector-median leverage)✓SchlossD/E < 1.00x
    Debt Levels0.28
    ✓MungerDebt/Equity < 0.5✓AkreDebt/Equity < 0.3
    Interest Coverage & Debt/EBITDA
    ✗MarksInterest Coverage > 3x; Debt/EBITDA < 4x
    Total Debt / Shareholders Equity0.28
    ✓Ackman<= 1.0
    Negative debt-to-equity (higher means less debt)-0.2800; #1944/4210 (top 46.2%)
    ✗AsnessTop 30% of eligible cross-section

Where It Falls Short

  • Profitability0% pass✓ 5✗ 30▾

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

    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)-118.6%
    ✗Buffett> 15% arithmetic mean (app rule)
    Operating Margin (10-yr trend)-154.7% (latest)
    ✓BuffettStable or rising over 10 years
    Free Cash Flow Proxy$-52.7M
    ✗BuffettPositive and growing
    Earnings Variance (10-yr CoV)N/A (negative mean EPS)
    ✗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-731.8%
    ✗Lynch> 15%
    EBIT / Enterprise Value-9.4%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=-9.4%, ROC=-89.0%
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Net Income / Total Assets-45.88%
    ✗PiotroskiROA > 0
    ROA Change YoY-80.11% -> -45.88% (delta: +34.23%)
    ✓PiotroskiCurrent ROA > Prior ROA
    (CFO / Total Assets) vs ROACFO/Assets=-42.63%, ROA=-45.88%
    ✓PiotroskiCFO/Assets > ROA
    Gross Margin Change YoY92.3% -> 99.4%
    ✓PiotroskiImproved YoY
    Pre-Tax Income / Revenue
    ✗Dreman>= 8%
    Net Income / Shareholders' Equity-731.8%
    ✗Dreman> 12%
    Margin of SafetyP/B=7.7x
    ✗PabraiP/B < 1.5 or P/E < 15
    Return on Equity-118.6% (3-yr avg)
    ✗AkreROE > 20% (3-year avg)
    Discount to Intrinsic ValueN/A (negative normalized EPS)
    ✗Marks>= 20% below intrinsic value
    Positive Net Income Frequency0/5 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    Operating Income / Revenue-195.4%
    ✗Ackman>= 15%
    Net Income / Shareholders Equity-731.8%
    ✗Ackman>= 15%
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Operating Margin Trend-1866.2% (2023) -> -154.7% (2025)
    ✓TempletonNon-negative operating-margin trend over 3 years
    Revenue growth vs. gross and operating margin trendgross margin 93.3% -> 99.4%, operating margin -1866.2% -> -154.7%
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    Net income / market capitalization-9.98%; #4181/6340 (top 65.9%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Gross profit / total assets+28.99%; #1490/3702 (top 40.2%)
    ✗AsnessTop 30% of eligible cross-section
    Net income / positive book equity-731.83%; #5125/5226 (top 98.1%)
    ✗AsnessTop 30% of eligible cross-section
    Negative 5-year standard deviation of ROA-0.2588; #4478/5884 (top 76.1%)
    ✗AsnessTop 30% of eligible cross-section
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
    Positive Diluted-EPS Years0/5 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 Ratio7.7x
    ✗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-9.4%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=-9.4%, ROC=-89.0%
    ✗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 Share7.7x
    ✗Dreman< 1.2x✗Templeton< 1.5x✗SchlossP/B <= 0.80x (app cutoff)
    Valuation ReasonablenessOE Yield=-12.8%
    ✗MungerP/E < 25 or Owner Earnings Yield > 5%
    P/E or FCF YieldFCF Yield=-8.7%
    ✗PabraiP/E < 15 or FCF Yield > 10%
    P/B or P/E vs. Historical AverageP/B=7.7x
    ✗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 Low292% of trailing low ($2.48)
    ✗Templeton<= 120% of trailing low (certified split-adjusted live window)
    Net income / market capitalization-9.98%; #4181/6340 (top 65.9%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Positive book equity / market capitalization+0.0136; #5166/6449 (top 80.1%)
    ✗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 Share7.72x
    ✗SchlossP/TBV <= 1.00x (app cutoff)
    Book Value per Share Change
    ✗SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)
    Revenue / market capitalization+0.0547; #4550/5247 (top 86.7%)
    ✗OshaughnessyTop 10% of eligible cross-section
    (Operating cash flow - capex) / market capitalization-11.25%; #3279/4519 (top 72.6%)
    ✗OshaughnessyTop 10% of eligible cross-section
    Trailing six-month price return through the evaluation date+81.70%; #418/6202 (top 6.7%)
    ✓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$-52.7M
    ✗BuffettPositive and growing
    FCF Positive and Growing$-64.2M
    ✗LynchPositive and growing
    Operating Cash Flow$-49.0M
    ✗PiotroskiCFO > 0
    (CFO / Total Assets) vs ROACFO/Assets=-42.63%, ROA=-45.88%
    ✓PiotroskiCFO/Assets > ROA
    Price / (CFO / Shares)N/A (negative CFPS)
    ✗Dreman< 8x
    P/E or FCF YieldFCF Yield=-8.7%
    ✗PabraiP/E < 15 or FCF Yield > 10%
    FCF Positive0/4 years FCF positive
    ✗MarksPositive FCF in majority of recent years
    (OCF - CapEx) / Market Cap-15.5%
    ✗Ackman>= 4%
    Price / FCF per ShareN/A (negative FCF)
    ✗Ackman<= 25
    Positive Operating Cash Flow frequency0/5 years positive
    ✗SleepPositive OCF in >= 70% of available years
    Operating Cash Flow - Capital Expenditures$-64.2M
    ✗Neff> $0 (app proxy for a strong fundamental case)
    (Operating cash flow - capex) / market capitalization-11.25%; #3279/4519 (top 72.6%)
    ✗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)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: -39.5% vs Rev: 1007.4%
    ✓LynchInventory growth < Revenue growth
    EPS Growth Direction$-0.02 (2021) -> $-1.11 (2025)
    ✗DremanPositive over recent years
    EPS CAGR
    ✗Dreman> 5% annualized
    Positive Net Income Frequency0/5 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    3yr Median Revenue Growth-4.4%
    ✗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 93.3% -> 99.4%, operating margin -1866.2% -> -154.7%
    ✗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
  • Verdicts7% pass✓ 1✗ 14▾

    Split decision: 13 FAIL · 2 NEUTRAL · 1 PASS

    Overall verdict
    ✗GrahamFAIL (2/9)✗BuffettFAIL (1/9)✗LynchFAIL (3/7)✗GreenblattRank #2454•PiotroskiNEUTRAL (F-Score 6)✗DremanFAIL (2/11)✓MungerPASS (2/4)✗PabraiFAIL (0/3)✗AkreFAIL (2/6)✗MarksFAIL (0/5)✗AckmanFAIL (1/9)✗TempletonFAIL (3/8)✗SleepFAIL (1/6)✗AsnessFAIL (Rank #1945/2370 (Top 82.1%))✗NeffFAIL (1/6)✗SchlossFAIL (2/7)•OshaughnessyNEUTRAL (Not ranked)
  • Efficiency38% pass✓ 4✗ 7▾

    5 of 8 flag OBIO's efficiency — Buffett, Greenblatt, Munger +2 more

    Current Ratio7.25
    ✓Graham>= 2.0
    ROIC (3-5 yr avg)-159.2%
    ✗Buffett> 10%
    ROIC - WACC-169.2%
    ✗BuffettPositive (WACC = 10%)
    EBIT / (NWC + Net Fixed Assets)-89.0%
    ✗Greenblatt> 25%
    Current Ratio Change YoY4.27 -> 6.45
    ✓PiotroskiIncreased YoY
    Revenue / Total Assets Change YoY0.03x -> 0.29x
    ✓PiotroskiImproved YoY
    Current Assets / Current Liabilities7.25
    ✓Dreman> 1.5
    Return on Invested Capital-59.7%
    ✗Munger> 15%
    ROIC (high and growing)FY2023: ROIC=unavailable; FY2024: ROIC=-105.9%; FY2025: ROIC=-59.7%
    ✗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 -59.7%)
    ✗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: Small Cap($570.6M)
Revenue: $33.5M+1169.2% YoY
Net Income: $52.7M+13.6% YoY

Financial Snapshot

Operating Margin-154.7%
Return on Equity-98.4%
Debt / Equity0.28
Current Ratio6.45
EPS (Diluted)$-1.11

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, operating cash flow, depreciation amortization, capex.

Q3 FY 2026

2026-07-01 – 2026-09-30

Sources · derived quarter values

Derived from cumulative filings: operating cash flow, depreciation amortization, capex.

Q2 FY 2026

2026-04-01 – 2026-06-30

Sources · derived quarter values

Derived from cumulative filings: operating cash flow, depreciation amortization, capex.

Q1 FY 2026

2026-01-01 – 2026-03-31

Sources
FY 2025
Sources
  • 10-K · 2026-03-12
FY 2024
Sources
  • 10-K · 2025-03-31
FY 2023
Sources
  • 10-K · 2024-03-27
FY 2022
Sources
  • 10-K · 2023-01-25
FY 2021
Sources
  • 10-K · 2022-03-31
Market Cap$570.6Mcurrent------$199.0Mest.$200.8Mest.$253.3Mest.--$201.6Mest.
Revenue$31.2M↑1007%$91.0K↓89%$88.0K↓89%$110.0K↓87%$33.5M↑1169%$2.6M↓4%$2.8M↓22%$3.5M--
Operating Income-$61.0M↑19%-$23.3M↓15%-$22.4M↓16%-$22.1M↓17%-$51.8M↑19%-$64.3M↓25%-$51.5M↓58%-$32.7M↓8173%-$394.8K
Net Income-$57.0M↑24%-$18.8M↑10%-$23.8M↓23%-$20.7M↓10%-$52.7M↑14%-$61.0M↓24%-$49.1M↓46%-$33.6M↓8773%-$378.8K
EPS (Diluted)--$-0.30↑25%$-0.38↑24%$-0.33↑33%$-1.11↑33%$-1.66↓12%$-1.48↓771%$-0.17↓750%$-0.02
Gross Margin————99.4%↑8%92.3%↓1%93.3%↓1%94.0%—
Operating Margin-195.4%↑93%-25600.0%↓985%-25404.5%↓999%-20069.1%↓821%-154.7%↑94%-2437.5%↓31%-1866.2%↓102%-924.3%—
ROE-731.8%↓326%———-98.4%↑47%-185.2%↓156%-72.2%↓115%483.9%↑4937%9.6%
Total Debt------$15.0M$15.0M$15.0M------
Shareholders' Equity$7.8M↓82%$7.8M↓82%$19.3M↑6450%$41.2M↑144%$53.6M↑63%$33.0M↓52%$68.0M↑1080%-$6.9M↓76%-$3.9M
Current Ratio7.25↑53%7.25↑53%8.26↑293%7.03↑110%6.45↑51%4.27↓46%7.95↑74%4.56↓58%10.88
Debt / Equity———0.36↓59%0.28↓38%0.46———
Operating Cash Flow-$63.3M↓5%-$19.5M↓34%-$19.3M↓25%-$22.2M↓33%-$49.0M↑3%-$50.6M↓10%-$46.1M↓57%-$29.3M↓10654%-$272.4K
Free Cash Flow-$64.2M↓6%-$19.9M↓34%-$19.6M↓26%-$22.4M↓34%-$49.5M↑3%-$50.8M↓10%-$46.2M↓55%-$29.9M--

Score history

Historical Score Timeline

Industry peers

Industry Peers

Similar companies in Medical Equipment

OBIO vs Peers — Financial Grading

Revenue$33.5MBottom 25%
Net Income$52.7MBottom 25%
ROE-98.4%Bottom 25%
D/E0.28Median
Op. Margin-154.7%Bottom 25%
Curr. Ratio6.45Top 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