XMax Inc.
XMAXInvestment snapshot
Positive
4
BUY / PASS
Neutral / negative
1 / 11
NEUTRAL / FAIL
Median fair value
$0.86
-85.4% vs price
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
| 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 #2152 (Top 69.5%) | PASS | FAIL | FAIL | FAIL | FAIL | FAIL | PASS | FAIL | PASS | BUY | FAIL | FAIL | NEUTRAL |
| Score | |||||||||||||||||
| Analysis | 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… | Checking access… |
| 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 | |
| Margin of Safety | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -586.0% | 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: 2026-08-14 Score computed: 2026-11-14 | Annual history · FY 2025 Latest source filing: 2026-04-15 Score computed: 2026-11-14 | Annual history · FY 2025 · Balance sheet at 2026-06-30 · TTM ended 2026-06-30 vs 2025-06-30 · TTM ended 2026-06-30 Latest source filing: 2026-08-14 Score computed: 2026-11-14 | Annual history · FY 2025 Latest source filing: 2026-04-15 Score computed: 2026-11-14 | Annual history · FY 2025 Latest source filing: 2026-04-15 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: 2026-08-14 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: 2026-08-14 Score computed: 2026-11-14 | Qualitative assessment · Annual history · FY 2025 Latest source filing: 2026-04-15 Score computed: 2026-11-14 | Annual history · FY 2025 · Qualitative assessment · Balance sheet at 2026-06-30 Latest source filing: 2026-08-14 Score computed: 2026-11-14 | Annual history · FY 2025 · Qualitative assessment Latest source filing: 2026-04-15 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: 2026-08-14 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: 2026-08-14 Score computed: 2026-11-14 | Annual history · FY 2025 · Qualitative assessment Latest source filing: 2026-04-15 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: 2026-08-14 Score computed: 2026-11-14 | Annual history · FY 2025 Latest source filing: 2026-04-15 Score computed: 2026-11-14 | Annual history · FY 2025 · Balance sheet at 2026-06-30 Latest source filing: 2026-08-14 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: 2026-08-14 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 AssetsDebt/Equity & Interest CoverageD/E: 0.01, IC: -28.0x✗BuffettD/E < 0.5 AND Interest Coverage > 5xTotal Debt / Equity0✓Lynch< 0.33Cash - Long-term Debt✗LynchPositive preferredLT Debt / Total Assets Change0.00% -> 0.00%✓PiotroskiDecreased YoYCurrent Assets / Current Liabilities28.80✓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 < 1.00xDebt Levels0✓MungerDebt/Equity < 0.5✓AkreDebt/Equity < 0.3Interest Coverage & Debt/EBITDAIC=-28.0x, D/EBITDA=N/A✗MarksInterest Coverage > 3x; Debt/EBITDA < 4xTotal Debt / Shareholders Equity0✓Ackman<= 1.0Negative debt-to-equity (higher means less debt)-0.0003; #310/4210 (top 7.4%)✓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
Net income / market capitalization+7.79%; #1039/6340 (top 16.4%)✓AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-sectionPrice / 3-yr avg EPS✗Graham<= 15xPrice-to-Book Ratio4.4x✗Graham<= 1.5xP/E x P/B✗Graham<= 22.5Basic earnings-growth PEG (dividends excluded)✗Lynch< 1.0 (ideally < 0.5)EBIT / Enterprise Value-0.5%✗Greenblatt> 10%Earnings Yield + ROC AssessmentEY=-0.5%, ROC=-71.3%✗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< 8xPrice / Book Value per Share4.4x✗Dreman< 1.2x✗Templeton< 1.5x✗SchlossP/B <= 0.80x (app cutoff)Valuation ReasonablenessOE Yield=-2.8%✗MungerP/E < 25 or Owner Earnings Yield > 5%P/E or FCF Yield✗PabraiP/E < 15 or FCF Yield > 10%P/B or P/E vs. Historical AverageP/B=4.4x✗MarksP/E < 15 or P/B < 2.0Discount to Intrinsic ValueN/A (negative normalized EPS)✗Marks>= 20% below intrinsic valuePrice / FCF per Share✗Ackman<= 25Price vs. Trailing Low1093% of trailing low ($0.54)✗Templeton<= 120% of trailing low (certified split-adjusted live window)Positive book equity / market capitalization+0.2777; #3797/6449 (top 58.9%)✗AsnessTop 30% of eligible cross-sectionPrice / Diluted EPS✗NeffP/E <= 15x (app proxy for a P/E 40%-60% below the market)(EPS CAGR % + Dividend Yield %) / P/E✗Neff> 0.7 (Neff's published traditional edge)Price / Tangible Book Value per Share4.36x✗SchlossP/TBV <= 1.00x (app cutoff)Book Value per Share Change-80.9%✗SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)Revenue / market capitalization+0.0419; #4626/5247 (top 88.2%)✗OshaughnessyTop 10% of eligible cross-section(Operating cash flow - capex) / market capitalization✗OshaughnessyTop 10% of eligible cross-sectionTrailing six-month price return through the evaluation date-30.99%; #4456/6202 (top 71.8%)✗OshaughnessyTop 10% of eligible cross-section - Cash Flow0% pass✓ 1✗ 11▾
No clean pass — all 10 investors flag at least one cash flow criterion
Free Cash Flow Proxy$-5.5M✗BuffettPositive and growingFCF Positive and Growing$-1.4M✗LynchPositive and growingOperating Cash Flow$-0.4M✗PiotroskiCFO > 0(CFO / Total Assets) vs ROACFO/Assets=-1.25%, ROA=-9.62%✓PiotroskiCFO/Assets > ROAPrice / (CFO / Shares)N/A (negative CFPS)✗Dreman< 8xP/E or FCF Yield✗PabraiP/E < 15 or FCF Yield > 10%FCF Positive3/14 years FCF positive✗MarksPositive FCF in majority of recent years(OCF - CapEx) / Market Cap✗Ackman>= 4%Price / FCF per Share✗Ackman<= 25Positive Operating Cash Flow frequency4/16 years positive✗SleepPositive OCF in >= 70% of available yearsOperating Cash Flow - Capital Expenditures✗Neff> $0 (app proxy for a strong fundamental case)(Operating cash flow - capex) / market capitalization✗OshaughnessyTop 10% of eligible cross-section - Profitability13% pass✓ 11✗ 24▾
14 of 16 flag XMAX's profitability — Graham, Buffett, Lynch +11 more
Net income / market capitalization+7.79%; #1039/6340 (top 16.4%)✓AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-sectionPositive EPS (10 years)8/17 years positive✗GrahamPositive EPS every year for 10 yearsEPS Growth (3-yr avg, 10-yr window)✗Graham>= 33% growthNet Income Positive (10+ years)8/17 years positive✗BuffettPositive every year for 10+ yearsROE (up to 5-year arithmetic mean)-418.0%✗Buffett> 15% arithmetic mean (app rule)Operating Margin (10-yr trend)-11.5% (latest)✗BuffettStable or rising over 10 yearsFree Cash Flow Proxy$-5.5M✗BuffettPositive and growingEarnings Variance (10-yr CoV)✗BuffettCoV < 0.3Retained Earnings Effectiveness✗Buffett$1 retained -> > $1 market value createdBasic earnings-growth PEG (dividends excluded)✗Lynch< 1.0 (ideally < 0.5)3-5 Year EPS CAGR✗Lynch15-30% (Fast Grower); > 0% to passROE28.1%✓Lynch> 15%EBIT / Enterprise Value-0.5%✗Greenblatt> 10%Earnings Yield + ROC AssessmentEY=-0.5%, ROC=-71.3%✗GreenblattBoth EY > 10% and ROC > 25%Net Income / Total Assets-9.62%✗PiotroskiROA > 0ROA Change YoY-56.08% -> -9.62% (delta: +46.46%)✓PiotroskiCurrent ROA > Prior ROA(CFO / Total Assets) vs ROACFO/Assets=-1.25%, ROA=-9.62%✓PiotroskiCFO/Assets > ROAGross Margin Change YoY43.9% -> 25.0%✗PiotroskiImproved YoYPre-Tax Income / Revenue231.3%✓Dreman>= 8%Net Income / Shareholders' Equity28.1%✓Dreman> 12%Margin of SafetyP/B=4.4x✗PabraiP/B < 1.5 or P/E < 15Return on Equity-582.1% (3-yr avg)✗AkreROE > 20% (3-year avg)Discount to Intrinsic ValueN/A (negative normalized EPS)✗Marks>= 20% below intrinsic valuePositive Net Income Frequency8/16 years positive✓MarksPositive net income in >= 7 of last 10 yearsOperating Income / Revenue-20.5%✗Ackman>= 15%Net Income / Shareholders Equity28.1%✓Ackman>= 15%5-Year EPS CAGR✗Templeton> 0% (5-year EPS CAGR)Operating Margin Trend-57.9% (2023) -> -11.5% (2025)✓TempletonNon-negative operating-margin trend over 3 yearsRevenue growth vs. gross and operating margin trendgross margin 37.6% -> 25.0%, operating margin -57.9% -> -11.5%✓SleepRevenue rising; gross margin flat or falling; operating margin holdingGross profit / total assets+3.03%; #3206/3702 (top 86.6%)✗AsnessTop 30% of eligible cross-sectionNet income / positive book equity+28.06%; #498/5226 (top 9.5%)✓AsnessTop 30% of eligible cross-sectionNegative 5-year standard deviation of ROA-0.4951; #4928/5884 (top 83.8%)✗AsnessTop 30% of eligible cross-section3-5 Year Diluted EPS CAGR-5.3% over 5 years✗Neff7%-20% annualizedPositive Diluted-EPS Years2/10 years positive✗Schloss>= 70% positive over 5-10 observed years (app rule) - Growth25% pass✓ 5✗ 8▾
6 of 8 flag XMAX's growth — Graham, Lynch, Dreman +3 more
EPS Growth (3-yr avg, 10-yr window)✗Graham>= 33% growthBasic earnings-growth PEG (dividends excluded)✗Lynch< 1.0 (ideally < 0.5)3-5 Year EPS CAGR✗Lynch15-30% (Fast Grower); > 0% to passInventory Growth vs Revenue GrowthInv: 22.6% vs Rev: 63.5%✓LynchInventory growth < Revenue growthEPS Growth Direction✗DremanPositive over recent yearsEPS CAGR✗Dreman> 5% annualizedPositive Net Income Frequency8/16 years positive✓MarksPositive net income in >= 7 of last 10 years3yr Median Revenue Growth-12.6%✗Ackman>= 5%Positive EPS Growth Frequency4/5 years with positive EPS growth✓AckmanPositive EPS growth in >= 3 of last 5 years5-Year EPS CAGR✗Templeton> 0% (5-year EPS CAGR)Revenue growth vs. gross and operating margin trendgross margin 37.6% -> 25.0%, operating margin -57.9% -> -11.5%✓SleepRevenue rising; gross margin flat or falling; operating margin holding5-year Revenue CAGR8.1%✓SleepCAGR > 7%3-5 Year Diluted EPS CAGR-5.3% over 5 years✗Neff7%-20% annualized - Efficiency25% pass✓ 3✗ 8▾
6 of 8 flag XMAX's efficiency — Buffett, Greenblatt, Piotroski +3 more
Current Ratio28.80✓Graham>= 2.0ROIC (3-5 yr avg)-30.7%✗Buffett> 10%ROIC - WACC-40.7%✗BuffettPositive (WACC = 10%)EBIT / (NWC + Net Fixed Assets)-71.3%✗Greenblatt> 25%Current Ratio Change YoY1.36 -> 4.92✓PiotroskiIncreased YoYRevenue / Total Assets Change YoY0.98x -> 0.47x✗PiotroskiImproved YoYCurrent Assets / Current Liabilities28.80✓Dreman> 1.5Return on Invested Capital-2.4%✗Munger> 15%ROIC (high and growing)FY2023: ROIC=unavailable; FY2024: ROIC=-119.4%; FY2025: ROIC=-5.4%✗AkreLatest 3 consecutive FYs: ROIC > 15% in eachReinvestment Rate x ROICN/A (non-positive net income)✗AkreReinvestment Rate * ROIC > 10%ROIC (5-year)0/3 years above 12% (latest -5.4%)✗SleepROIC > 12% in a majority of years - Verdicts25% pass✓ 4✗ 12▾
Split decision: 11 FAIL · 3 PASS · 1 BUY · 1 NEUTRAL
Overall verdict✗GrahamFAIL (1/9)✗BuffettFAIL (0/9)✗LynchFAIL (3/7)✗GreenblattRank #2152✓PiotroskiPASS (F-Score 4)✗DremanFAIL (4/11)✗MungerFAIL (1/4)✗PabraiFAIL (0/3)✗AkreFAIL (1/6)✗MarksFAIL (1/5)✓AckmanPASS (4/9)✗TempletonFAIL (3/8)✓SleepPASS (3/6)✓AsnessBUY (Rank #412/2370 (Top 17.4%))✗NeffFAIL (1/6)✗SchlossFAIL (2/7)•OshaughnessyNEUTRAL (Not ranked)
Business & financials
Financial snapshot: annual FY 2025. Current investor scores may use newer quarterly data.
Company Profile
Financial Snapshot
Shareholder Return
Fiscal 2025
Issued 183.3% 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.
| Metric | TTM · 2026-09-30 2025-10-01 – 2026-09-30 Sources · derived quarter valuesDerived from cumulative filings: revenue, net income, operating income, gross profit, ebit, pre tax income, operating cash flow, depreciation amortization, interest expense, capex. | Q3 FY 2026 2026-07-01 – 2026-09-30 Sources · derived quarter valuesDerived from cumulative filings: interest expense, operating cash flow, depreciation amortization, capex. | Q2 FY 2026 2026-04-01 – 2026-06-30 Sources · derived quarter valuesDerived from cumulative filings: operating cash flow, depreciation amortization. | Q1 FY 2026 2026-01-01 – 2026-03-31 Sources | FY 2025Sources
| FY 2024Sources
| FY 2023Sources
| FY 2022Sources
| FY 2021Sources
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|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $382.8Mcurrent | -- | -- | -- | $116.9Mest. | $4.5Mest. | $3.9Mest. | $6.6Mest. | $54.6Mest. |
| Revenue | $12.7M↓25% | $6.4M↓34% | $2.7M↑7% | $1.8M↓32% | $16.7M↑73% | $9.7M↓13% | $11.1M↓13% | $12.7M↑2% | $12.6M |
| Operating Income | -$4.1M↓123% | -$1.3M↓172% | -$1.2M↓520% | -$534.9K↓177% | -$1.9M↑64% | -$5.4M↑16% | -$6.4M↑60% | -$16.2M↓320% | -$3.9M |
| Net Income | $22.0M↑878% | -$9.0M↓697% | $32.4M↑11286% | $191.5K↑157% | -$3.4M↑39% | -$5.6M↑28% | -$7.7M↑55% | -$17.1M↑14% | -$20.0M |
| EPS (Diluted) | -- | $-0.14↓133% | $0.53↑2750% | $0.00↑100% | $-0.17↑89% | $-1.48↑70% | $-4.96↑60% | $-12.34↓277% | $-3.27 |
| Gross Margin | 28.2%↑10% | 13.9%↑38% | 39.8%↓21% | 49.5%↑8% | 25.0%↓43% | 43.9%↑17% | 37.6%↑162% | -61.1%↓239% | 44.0% |
| Operating Margin | -32.5%↓198% | -20.8%↓314% | -44.5%↓479% | -30.0%↓309% | -11.5%↑79% | -55.4%↑4% | -57.9%↑55% | -127.3%↓314% | -30.7% |
| ROE | 21.2%↑202% | — | — | — | -12.2%↑93% | -178.1%↑89% | -1556.0%↓502% | -258.7%↓204% | -85.1% |
| Total Debt | $25.1K↓94% | $25.1K↓94% | $30.3K↓93% | $420.7K↑101% | $417.9K↓2% | $425.6K | -- | -- | $0 |
| Shareholders' Equity | $103.9M↑665% | $103.9M↑665% | $106.3M↑1524% | $40.4M↑496% | $28.0M↑795% | $3.1M↑529% | $496.4K↓92% | $6.6M↓72% | $23.4M |
| Current Ratio | 12.13↑336% | 12.13↑336% | 28.80↑1162% | 12.96↑446% | 4.92↑262% | 1.36↑34% | 1.02↓80% | 4.99↓65% | 14.09 |
| Debt / Equity | 0.00↓99% | 0.00↓99% | 0.00↓100% | 0.01↓66% | 0.01↓89% | 0.14 | — | — | 0.00 |
| Operating Cash Flow | -$5.1M↓113% | -$2.5M↓32% | -$3.6M↓4043% | -$641.7K↓99% | -$445.8K↑68% | -$1.4M↑12% | -$1.6M↑71% | -$5.4M↓12% | -$4.8M |
| Free Cash Flow | -- | -$2.6M | -- | -- | -- | -$1.4M | -- | -$5.4M↓10% | -$4.9M |
Score history
Historical Score Timeline
Industry peers
Industry Peers
Similar companies in Consumer Goods
XMAX vs Peers — Financial Grading
| Company | Market Cap | Price | Revenue | Net Income | ROE | D/E | Op. Margin | Curr. Ratio | Graham | Buffett | Lynch | Greenblatt | Piotroski | Dreman |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| UNILEVER PLCUL | $142.6B | $66.21 | $59.3B | $11.1B | 61.0% | 1.68 | 17.9% | 0.79 | 2/9 | 4/9 | 4/7 | 1/3 | F-Score 8 | 6/11 |
| ECOLAB INC.ECL | $86.7B | $309.27 | $16.1B | $2.1B | 21.2% | 0.84 | 17.0% | 1.08 | 3/9 | 5/9 | 3/7 | 1/3 | F-Score 6 | 5/11 |
| COLGATE PALMOLIVE COCL | $79.2B | $99.67 | $20.4B | $2.1B | 3948.1% | 147.89 | 16.2% | 0.83 | 2/9 | 5/9 | 3/7 | 1/3 | F-Score 5 | 3/11 |
| ESTEE LAUDER COMPANIES INCEL | $40.5B | $111.75 | $14.3B | $1.1B | -29.3% | 1.89 | -5.5% | 1.30 | 2/9 | 4/9 | 2/7 | 0/3 | F-Score 6 | 1/11 |
| CHURCH & DWIGHT CO INC /DE/CHD | $26.7B | $113.00 | $6.2B | $736.8M | 18.4% | 0.55 | 17.4% | 1.07 | 3/9 | 7/9 | 3/7 | 1/3 | F-Score 7 | 4/11 |
| CANON INCCAJPY | $25.2B | $30.28 | — | — | — | — | — | — | 3/9 | 1/9 | 1/7 | 1/3 | F-Score 7 | 5/11 |
| SOMNIGROUP INTERNATIONAL INC.SGI | $14.0B | $60.76 | $7.5B | $384.1M | 12.4% | 1.51 | 10.1% | 0.83 | 1/9 | 5/9 | 2/7 | 1/3 | F-Score 5 | 2/11 |
| INTERPARFUMS INCIPAR | $4.3B | $133.37 | $1.5B | $168.4M | 19.1% | 0.20 | 18.2% | 2.99 | 4/9 | 5/9 | 6/7 | 1/3 | F-Score 5 | 7/11 |