Public Policy Holding Company, Inc.

PPHC
About the company

Public Policy Holding Company, Inc. engages in the provision of consulting services in the United States. The company operates through three segments: Government Relations Consulting, Corporate Communications & Public Affairs Consulting Services, and Compliance and Insights Services. The Government Relations Consulting segment offers federal and state advocacy, strategic guidance, political intelligence, and issue monitoring services.

Country: United StatesPrice: $10.39Market Cap: $317.7M

Investment snapshot

12%positive consensus
Scored 1d ago

Positive

2

BUY / PASS

Neutral / negative

2 / 12

NEUTRAL / FAIL

Median fair value

$26.57

+155.8% vs price

Models with upside

2 / 17

Positive margin of safety

Strongest signal

PPHC undervalued: all 2 models price fair value above $10.39 (median $26.57)

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

VerdictFAILFAILFAILNot rankedFAILFAILPASSFAILFAILFAILPASSFAILFAILNEUTRALFAILFAILNEUTRAL
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/A
Margin of SafetyN/AN/AN/AN/AN/AN/A+42.0%N/AN/AN/A+70.5%N/AN/AN/AN/AN/AN/A
Financial Basis

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

Latest source filing: 2026-11-10

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-31

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

Annual history · FY 2025

Latest source filing: 2026-03-31

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-31

Score computed: 2026-11-14

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

Latest source filing: 2026-11-10

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2025

Latest source filing: 2026-03-31

Score computed: 2026-11-14

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

Latest source filing: 2026-11-10

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment

Latest source filing: 2026-03-31

Score computed: 2026-11-14

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

Latest source filing: 2026-11-10

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment

Latest source filing: 2026-03-31

Score computed: 2026-11-14

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

Latest source filing: 2026-11-10

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-31

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

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

Latest source filing: 2026-03-31

Score computed: 2026-11-14

Where It Passes

  • Valuation models100% pass✓ 2▾

    PPHC undervalued: all 2 models price fair value above $10.39 (median $26.57)

    Munger fair value$17.92
    ✓Munger+42.0% margin vs $10.39
    Ackman fair value$35.23
    ✓Ackman+70.5% margin vs $10.39
  • Cash Flow60% pass✓ 8✗ 4▾

    6 of 10 pass — Buffett, Dreman, Pabrai +1 more object

    Free Cash Flow Proxy$-33.3M
    ✗BuffettPositive and growing
    FCF Positive and Growing$24.8M
    ✓LynchPositive and growing
    Operating Cash Flow$24.8M
    ✓PiotroskiCFO > 0
    (CFO / Total Assets) vs ROACFO/Assets=12.23%, ROA=-19.25%
    ✓PiotroskiCFO/Assets > ROA
    Price / (CFO / Shares)10.6x
    ✗Dreman< 8x
    P/E or FCF YieldFCF Yield=7.8%
    ✗PabraiP/E < 15 or FCF Yield > 10%
    FCF Positive2/2 years FCF positive
    ✓MarksPositive FCF in majority of recent years
    (OCF - CapEx) / Market Cap9.5%
    ✓Ackman>= 4%
    Price / FCF per Share10.6x
    ✓Ackman<= 25
    Positive Operating Cash Flow frequency2/2 years positive
    ✓SleepPositive OCF in >= 70% of available years
    Operating Cash Flow - Capital Expenditures$24.8M
    ✓Neff> $0 (app proxy for a strong fundamental case)
    (Operating cash flow - capex) / market capitalization+7.79%; #1040/4519 (top 23.0%)
    ✗OshaughnessyTop 10% 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)0/3 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)0/3 years positive
    ✗BuffettPositive every year for 10+ years
    ROE (up to 5-year arithmetic mean)-40.8%
    ✗Buffett> 15% arithmetic mean (app rule)
    Operating Margin (10-yr trend)
    ✗BuffettStable or rising over 10 years
    Free Cash Flow Proxy$-33.3M
    ✗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-52.1%
    ✗Lynch> 15%
    EBIT / Enterprise Value-9.9%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=-9.9%, ROC=N/A (invested capital <= 0)
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Net Income / Total Assets-19.25%
    ✗PiotroskiROA > 0
    ROA Change YoY-13.73% -> -19.25% (delta: -5.52%)
    ✗PiotroskiCurrent ROA > Prior ROA
    (CFO / Total Assets) vs ROACFO/Assets=12.23%, ROA=-19.25%
    ✓PiotroskiCFO/Assets > ROA
    Gross Margin Change YoY11.5% -> 10.0%
    ✗PiotroskiImproved YoY
    Pre-Tax Income / Revenue-18.5%
    ✗Dreman>= 8%
    Net Income / Shareholders' Equity-52.1%
    ✗Dreman> 12%
    Margin of SafetyP/B=3.5x
    ✗PabraiP/B < 1.5 or P/E < 15
    Return on Equity-40.8% (3-yr avg)
    ✗AkreROE > 20% (3-year avg)
    Discount to Intrinsic Value
    ✗Marks>= 20% below intrinsic value
    Positive Net Income Frequency0/2 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    Operating Income / Revenue-18.2%
    ✗Ackman>= 15%
    Net Income / Shareholders Equity-52.1%
    ✗Ackman>= 15%
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Operating Margin Trend
    ✗TempletonNon-negative operating-margin trend over 3 years
    Revenue growth vs. gross and operating margin trend
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    Net income / market capitalization-12.28%; #4277/6340 (top 67.5%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Gross profit / total assets+9.21%; #2854/3702 (top 77.1%)
    ✗AsnessTop 30% of eligible cross-section
    Net income / positive book equity-52.07%; #4225/5226 (top 80.8%)
    ✗AsnessTop 30% of eligible cross-section
    Negative 5-year standard deviation of ROA
    ✗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)
  • Growth0% pass✓ 2✗ 11▾

    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 Frequency0/2 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    3yr Median Revenue Growth24.7%
    ✓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 trend
    ✗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
  • Efficiency0% pass✓ 1✗ 10▾

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

    Current Ratio1.17
    ✗Graham>= 2.0
    ROIC (3-5 yr avg)-20.5%
    ✗Buffett> 10%
    ROIC - WACC-30.5%
    ✗BuffettPositive (WACC = 10%)
    EBIT / (NWC + Net Fixed Assets)N/A (invested capital <= 0)
    ✗Greenblatt> 25%
    Current Ratio Change YoY1.21 -> 1.11
    ✗PiotroskiIncreased YoY
    Revenue / Total Assets Change YoY0.86x -> 0.92x
    ✓PiotroskiImproved YoY
    Current Assets / Current Liabilities1.17
    ✗Dreman> 1.5
    Return on Invested Capital-22.0%
    ✗Munger> 15%
    ROIC (high and growing)FY2023: ROIC=unavailable; FY2024: ROIC=-12.7%; FY2025: ROIC=-22.0%
    ✗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 -22.0%)
    ✗SleepROIC > 12% in a majority of years
  • Valuation8% pass✓ 2✗ 26▾

    12 of 13 flag PPHC's valuation — Graham, Lynch, Greenblatt +9 more

    Price / 3-yr avg EPS
    ✗Graham<= 15x
    Price-to-Book Ratio3.5x
    ✗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-9.9%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=-9.9%, ROC=N/A (invested capital <= 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)10.6x
    ✗Dreman< 8x
    Price / Book Value per Share3.5x
    ✗Dreman< 1.2x✗Templeton< 1.5x✗SchlossP/B <= 0.80x (app cutoff)
    Valuation ReasonablenessOE Yield=-12.7%
    ✗MungerP/E < 25 or Owner Earnings Yield > 5%
    P/E or FCF YieldFCF Yield=7.8%
    ✗PabraiP/E < 15 or FCF Yield > 10%
    P/B or P/E vs. Historical AverageP/B=3.5x
    ✗MarksP/E < 15 or P/B < 2.0
    Discount to Intrinsic Value
    ✗Marks>= 20% below intrinsic value
    Price / FCF per Share10.6x
    ✓Ackman<= 25
    Price vs. Trailing Low102% of trailing low ($10.15)
    ✓Templeton<= 120% of trailing low (certified split-adjusted live window)
    Net income / market capitalization-12.28%; #4277/6340 (top 67.5%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Positive book equity / market capitalization+0.3716; #3382/6449 (top 52.4%)
    ✗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 ShareN/A (non-positive TBVPS)
    ✗SchlossP/TBV <= 1.00x (app cutoff)
    Book Value per Share Change
    ✗SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)
    Revenue / market capitalization+0.5872; #2407/5247 (top 45.9%)
    ✗OshaughnessyTop 10% of eligible cross-section
    (Operating cash flow - capex) / market capitalization+7.79%; #1040/4519 (top 23.0%)
    ✗OshaughnessyTop 10% of eligible cross-section
    Trailing six-month price return through the evaluation date-25.89%; #4242/6202 (top 68.4%)
    ✗OshaughnessyTop 10% of eligible cross-section
  • Verdicts14% pass✓ 2✗ 12▾

    Split decision: 12 FAIL · 2 PASS · 2 NEUTRAL

    Overall verdict
    ✗GrahamFAIL (1/9)✗BuffettFAIL (0/9)✗LynchFAIL (2/7)•GreenblattNot ranked✗PiotroskiFAIL (F-Score 3)✗DremanFAIL (1/11)✓MungerPASS (2/4)✗PabraiFAIL (0/3)✗AkreFAIL (1/6)✗MarksFAIL (1/5)✓AckmanPASS (4/9)✗TempletonFAIL (3/8)✗SleepFAIL (2/6)•AsnessNEUTRAL (Not ranked)✗NeffFAIL (2/6)✗SchlossFAIL (1/7)•OshaughnessyNEUTRAL (Not ranked)
  • Debt & Leverage25% pass✓ 5✗ 10▾

    9 of 12 flag PPHC's debt & leverage — Graham, Buffett, Lynch +6 more

    Debt Levels0.34
    ✓MungerDebt/Equity < 0.5✗AkreDebt/Equity < 0.3
    LT Debt vs Net Current AssetsLT Debt $30.5M vs NCA $10.0M
    ✗GrahamLT Debt <= Net Current Assets
    Debt/Equity & Interest CoverageD/E: 0.63, IC: -10.0x
    ✗BuffettD/E < 0.5 AND Interest Coverage > 5x
    Total Debt / Equity0.34
    ✗Lynch< 0.33
    Cash - Long-term Debt$-12.0M
    ✗LynchPositive preferred
    LT Debt / Total Assets Change14.91% -> 18.71%
    ✗PiotroskiDecreased YoY
    Current Assets / Current Liabilities1.17
    ✗Dreman> 1.5✗SchlossCurrent ratio >= 1.50x (app cutoff)
    Total Debt / Shareholders' Equity0.34
    ✓Dreman< 0.8✓Templeton< 1.0 (fixed cap; proxy for below-sector-median leverage)✓SchlossD/E < 1.00x
    Interest Coverage & Debt/EBITDAIC=-10.0x, D/EBITDA=N/A
    ✗MarksInterest Coverage > 3x; Debt/EBITDA < 4x
    Total Debt / Shareholders Equity0.34
    ✓Ackman<= 1.0
    Negative debt-to-equity (higher means less debt)-0.3371; #2108/4210 (top 50.1%)
    ✗AsnessTop 30% of eligible cross-section

Business & financials

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

Company Profile

Industry: Business Services
SIC Sector: Engineering & Management Services
Size: Small Cap($317.7M)
Revenue: $186.5M+24.7% YoY
Net Income: $39.0M-62.8% YoY

Financial Snapshot

Operating Margin-18.2%
Return on Equity-52.1%
Debt / Equity0.63
Current Ratio1.11
EPS (Diluted)$-2.37

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Shareholder Return

Fiscal 2025

Share retirement not available for this company.

Buybacks
—
Dividends
$8.7M

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.

MetricQ3 FY 2026

2026-07-01 – 2026-09-30

Sources · derived quarter values

Derived from cumulative filings: operating cash flow, capex, dividends paid.

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 · 2026-03-31
FY 2024
Sources
  • 10-K · 2026-03-31
FY 2023
Sources
  • 10-K · 2026-03-31
Market Cap$317.7Mcurrent----$308.4Mest.$164.3Mest.--
Revenue$55.2M$52.1M$50.1M$186.5M↑25%$149.6M--
Operating Income-$8.3M-$3.9M-$8.2M-$33.9M↓87%-$18.2M--
Net Income$236.0K-$3.7M-$11.5M-$39.0M↓63%-$24.0M--
EPS (Diluted)$-0.01$-0.19$-0.49$-2.37↓1%$-2.34--
Gross Margin———10.0%↓13%11.5%—
Operating Margin-15.0%-7.5%-16.3%-18.2%↓50%-12.1%—
ROE———-52.1%↓77%-29.5%—
Total Debt$39.8M$42.2M$44.6M$47.0M↑47%$32.0M--
Shareholders' Equity$118.1M$110.9M$108.9M$74.9M↓8%$81.3M↓1%$82.1M
Current Ratio1.171.601.701.11↓8%1.21—
Debt / Equity0.340.380.410.63↑59%0.39—
Operating Cash Flow-$7.4M$2.6M-$11.7M$24.8M↑51%$16.4M--
Free Cash Flow-$7.5M$2.5M-$12.2M$24.8M↑51%$16.3M--

Score history

Historical Score Timeline

Industry peers

Industry Peers

Similar companies in Business Services

PPHC vs Peers — Financial Grading

Revenue$186.5MBottom 25%
Net Income$39.0MMedian
ROE-52.1%Bottom 25%
D/E0.63Top 25%
Op. Margin-18.2%Bottom 25%
Curr. Ratio1.11Median
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