Via Transportation, Inc.

VIA
About the company

Via Transportation, Inc. provides a platform that transforms global transportation systems into digital networks in the United States, Germany, and internationally. The company's Via platform designed to address workflows for the end-to-end management of transit networks, including planning and scheduling, operating software, tech-enabled services, passenger tools, and data and insights.

Country: United StatesPrice: $43.03Market Cap: $3.5B

Investment snapshot

12%positive consensus
Scored 1d ago

Positive

2

BUY / PASS

Neutral / negative

2 / 12

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

VerdictFAILFAILFAILFAIL · Rank #2480 (Top 80.1%)PASSFAILPASSFAILFAILFAILFAILFAILFAILNEUTRALFAILFAILNEUTRAL
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

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

Latest source filing: 2026-11-09

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-06

Score computed: 2026-11-14

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

Latest source filing: 2026-11-09

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-06

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-06

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: 2026-11-09

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2025

Latest source filing: 2026-03-06

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2025

Latest source filing: 2026-03-06

Score computed: 2026-11-14

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

Latest source filing: 2026-11-09

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment

Latest source filing: 2026-03-06

Score computed: 2026-11-14

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

Latest source filing: 2026-11-09

Score computed: 2026-11-14

Annual history · FY 2025 · Price history 2025-09-01–2026-11-01

Latest source filing: 2026-03-06

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment

Latest source filing: 2026-03-06

Score computed: 2026-11-14

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

Latest source filing: 2026-11-09

Score computed: 2026-11-14

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

Latest source filing: 2026-11-09

Score computed: 2026-11-14

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

Latest source filing: 2026-11-09

Score computed: 2026-11-14

TTM ended 2026-09-30 · Annual history · FY 2025 · Price history 2025-09-01–2026-11-01

Latest source filing: 2026-11-09

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: -27.6x
    ✗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 Liabilities4.68
    ✓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/EBITDAIC=-27.6x, D/EBITDA=0.0x (no debt)
    ✗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✓ 1✗ 27▾

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

    Price / 3-yr avg EPS
    ✗Graham<= 15x
    Price-to-Book Ratio2.3x
    ✗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-2.4%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=-2.4%, ROC=-430.5%
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Price / EPS
    ✗Dreman< 12x✗Templeton< 12x (fixed ceiling; proxy for the market's cheapest 40%)
    Price / (CFO / Shares)N/A (negative CFPS)
    ✗Dreman< 8x
    Price / Book Value per Share2.3x
    ✗Dreman< 1.2x✗Templeton< 1.5x✗SchlossP/B <= 0.80x (app cutoff)
    Valuation ReasonablenessOE Yield=-6.6%
    ✗MungerP/E < 25 or Owner Earnings Yield > 5%
    P/E or FCF YieldFCF Yield=-0.9%
    ✗PabraiP/E < 15 or FCF Yield > 10%
    P/B or P/E vs. Historical AverageP/B=2.3x
    ✗MarksP/E < 15 or P/B < 2.0
    Discount to Intrinsic Value
    ✗Marks>= 20% below intrinsic value
    Price / FCF per ShareN/A (negative FCF)
    ✗Ackman<= 25
    Price vs. Trailing Low287% of trailing low ($15.00)
    ✗Templeton<= 120% of trailing low (certified split-adjusted live window)
    Net income / market capitalization-2.27%; #3591/6340 (top 56.6%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Positive book equity / market capitalization+0.1748; #4324/6449 (top 67.0%)
    ✗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 Share3.55x
    ✗SchlossP/TBV <= 1.00x (app cutoff)
    Book Value per Share Change
    ✗SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)
    Revenue / market capitalization+0.1484; #4067/5247 (top 77.5%)
    ✗OshaughnessyTop 10% of eligible cross-section
    (Operating cash flow - capex) / market capitalization-1.37%; #2704/4519 (top 59.8%)
    ✗OshaughnessyTop 10% of eligible cross-section
    Trailing six-month price return through the evaluation date+182.91%; #167/6202 (top 2.7%)
    ✓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$-94.1M
    ✗BuffettPositive and growing
    FCF Positive and Growing$-32.5M
    ✗LynchPositive and growing
    Operating Cash Flow$-30.9M
    ✗PiotroskiCFO > 0
    (CFO / Total Assets) vs ROACFO/Assets=-4.21%, ROA=-13.14%
    ✓PiotroskiCFO/Assets > ROA
    Price / (CFO / Shares)N/A (negative CFPS)
    ✗Dreman< 8x
    P/E or FCF YieldFCF Yield=-0.9%
    ✗PabraiP/E < 15 or FCF Yield > 10%
    FCF Positive0/3 years FCF positive
    ✗MarksPositive FCF in majority of recent years
    (OCF - CapEx) / Market Cap-3.4%
    ✗Ackman>= 4%
    Price / FCF per ShareN/A (negative FCF)
    ✗Ackman<= 25
    Positive Operating Cash Flow frequency0/3 years positive
    ✗SleepPositive OCF in >= 70% of available years
    Operating Cash Flow - Capital Expenditures$-48.5M
    ✗Neff> $0 (app proxy for a strong fundamental case)
    (Operating cash flow - capex) / market capitalization-1.37%; #2704/4519 (top 59.8%)
    ✗OshaughnessyTop 10% of eligible cross-section
  • Growth0% pass✓ 3✗ 10▾

    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 Frequency0/3 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    3yr Median Revenue Growth32.2%
    ✓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 trendgross margin 39.9% -> 39.6%, operating margin -46.0% -> -17.6%
    ✓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 VIA's profitability — Graham, Buffett, Lynch +12 more

    Positive EPS (10 years)0/4 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)0/4 years positive
    ✗BuffettPositive every year for 10+ years
    ROE (up to 5-year arithmetic mean)-15.4%
    ✗Buffett> 15% arithmetic mean (app rule)
    Operating Margin (10-yr trend)
    ✗BuffettStable or rising over 10 years
    Free Cash Flow Proxy$-94.1M
    ✗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-13.0%
    ✗Lynch> 15%
    EBIT / Enterprise Value-2.4%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=-2.4%, ROC=-430.5%
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Net Income / Total Assets-13.14%
    ✗PiotroskiROA > 0
    ROA Change YoY-23.84% -> -13.14% (delta: +10.69%)
    ✓PiotroskiCurrent ROA > Prior ROA
    (CFO / Total Assets) vs ROACFO/Assets=-4.21%, ROA=-13.14%
    ✓PiotroskiCFO/Assets > ROA
    Gross Margin Change YoY38.8% -> 39.6%
    ✓PiotroskiImproved YoY
    Pre-Tax Income / Revenue-15.1%
    ✗Dreman>= 8%
    Net Income / Shareholders' Equity-13.0%
    ✗Dreman> 12%
    Margin of SafetyP/B=2.3x
    ✗PabraiP/B < 1.5 or P/E < 15
    Return on Equity-15.4% (3-yr avg)
    ✗AkreROE > 20% (3-year avg)
    Discount to Intrinsic Value
    ✗Marks>= 20% below intrinsic value
    Positive Net Income Frequency0/3 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    Operating Income / Revenue-17.3%
    ✗Ackman>= 15%
    Net Income / Shareholders Equity-13.0%
    ✗Ackman>= 15%
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Operating Margin Trend-46.0% (2023) -> -17.6% (2025)
    ✓TempletonNon-negative operating-margin trend over 3 years
    Revenue growth vs. gross and operating margin trendgross margin 39.9% -> 39.6%, operating margin -46.0% -> -17.6%
    ✓SleepRevenue rising; gross margin flat or falling; operating margin holding
    Net income / market capitalization-2.27%; #3591/6340 (top 56.6%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Gross profit / total assets+28.71%; #1509/3702 (top 40.8%)
    ✗AsnessTop 30% of eligible cross-section
    Net income / positive book equity-12.99%; #3506/5226 (top 67.1%)
    ✗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)
  • Verdicts13% pass✓ 2✗ 13▾

    Split decision: 12 FAIL · 2 PASS · 2 NEUTRAL

    Overall verdict
    ✗GrahamFAIL (2/9)✗BuffettFAIL (0/9)✗LynchFAIL (2/7)✗GreenblattRank #2480✓PiotroskiPASS (F-Score 5)✗DremanFAIL (3/11)✓MungerPASS (2/4)✗PabraiFAIL (0/3)✗AkreFAIL (2/6)✗MarksFAIL (0/5)✗AckmanFAIL (2/9)✗TempletonFAIL (3/8)✗SleepFAIL (2/6)•AsnessNEUTRAL (Not ranked)✗NeffFAIL (0/6)✗SchlossFAIL (2/7)•OshaughnessyNEUTRAL (Not ranked)
  • Efficiency25% pass✓ 3✗ 8▾

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

    Current Ratio4.68
    ✓Graham>= 2.0
    ROIC (3-5 yr avg)-23.6%
    ✗Buffett> 10%
    ROIC - WACC-33.6%
    ✗BuffettPositive (WACC = 10%)
    EBIT / (NWC + Net Fixed Assets)-430.5%
    ✗Greenblatt> 25%
    Current Ratio Change YoY2.13 -> 4.98
    ✓PiotroskiIncreased YoY
    Revenue / Total Assets Change YoY0.89x -> 0.59x
    ✗PiotroskiImproved YoY
    Current Assets / Current Liabilities4.68
    ✓Dreman> 1.5
    Return on Invested Capital-9.6%
    ✗Munger> 15%
    ROIC (high and growing)FY2023: ROIC=unavailable; FY2024: ROIC=unavailable; FY2025: ROIC=-9.6%
    ✗AkreLatest 3 consecutive FYs: ROIC > 15% in each
    Reinvestment Rate x ROICN/A (non-positive net income)
    ✗AkreReinvestment Rate * ROIC > 10%
    ROIC (5-year)0/1 years above 12% (latest -9.6%)
    ✗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: Mid Cap($3.5B)
Revenue: $434.3M+28.6% YoY
Net Income: $96.4M-6.7% YoY

Financial Snapshot

Operating Margin-17.6%
Return on Equity-15.4%
Debt / Equity0.00
Current Ratio4.98
EPS (Diluted)$-2.92

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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.

MetricTTM · 2026-09-30

2025-10-01 – 2026-09-30

Sources · derived quarter values

Derived from cumulative filings: revenue, net income, operating income, gross profit, ebit, pre tax income, interest expense, 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, 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 · 2026-03-06
FY 2024
Sources
  • 10-K · 2026-03-06
FY 2023
Sources
  • 10-K · 2026-03-06
FY 2022
Sources
  • 10-K · 2026-03-06
Market Cap$3.5Bcurrent------$766.1Mest.$611.2Mest.----
Revenue$525.6M$143.5M↑31%$135.7M$127.4M$434.3M↑29%$337.6M↑36%$248.9M--
Operating Income-$91.0M-$21.2M↓12%-$21.8M-$23.6M-$76.6M↑9%-$83.9M↑27%-$114.5M--
Net Income-$80.4M-$18.8M↑49%-$19.6M-$20.1M-$96.4M↓7%-$90.3M↑23%-$116.7M--
EPS (Diluted)--$-0.23↑85%$-0.24$-0.25$-2.92↑60%$-7.21↑25%$-9.60--
Gross Margin40.0%40.0%↑2%41.0%39.3%39.6%↑2%38.8%↓3%39.9%—
Operating Margin-17.3%-14.8%↑14%-16.0%-18.5%-17.6%↑29%-24.8%↑46%-46.0%—
ROE-13.0%———-15.4%↓268%9.1%↓28%12.7%—
Total Debt--------$0↓100%$32.0M----
Shareholders' Equity$619.1M$619.1M↑8%$618.3M$622.1M$627.7M↑164%-$987.1M↓7%-$918.6M↓11%-$824.6M
Current Ratio4.684.68↓9%5.055.094.98↑134%2.13——
Debt / Equity————0.00↑100%-0.03——
Operating Cash Flow-$46.8M-$14.5M-$10.6M-$21.2M-$30.9M↑56%-$70.0M↑24%-$92.6M--
Free Cash Flow-$48.5M-$15.2M-$11.0M-$21.5M-$32.5M↑54%-$71.0M↑25%-$95.1M--

Score history

Historical Score Timeline

Industry peers

Industry Peers

Similar companies in Business Services

VIA vs Peers — Financial Grading

Revenue$434.3MBottom 25%
Net Income$96.4MMedian
ROE-15.4%Bottom 25%
D/E0.00Top 25%
Op. Margin-17.6%Bottom 25%
Curr. Ratio4.98Top 25%
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