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i3 Verticals Inc (IIIV) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of i3 Verticals Inc stock $7.05, price $19.07, that is 63.0% below the price, quality 49 out of 100. Rating: strongly overvalued. Calculated from audited financials with 4 of our 26 valuation models and 37 quality factors, updated daily.

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Technology US

IV i3 Verticals Inc logo Some data Nov 8, 2026

i3 Verticals Inc

IIIV · US
Very expensive, weak quality

Our calculation puts a fair price 63% below what the stock costs today.

Generates free cash flow
Quality 49/100
Expensive Growth (revenue 5y +7.3 %/yr in USD)
Thin margins · 3.9% net margin (TTM)
Moderate debt
Insiders bought $961,500 (6M)
Some data
Profit last quarter 66% below a year ago.
Fair value $7.05 · Strongly overvalued
Trails peers (3/13)
Narrow moat 31/100 · thin data
Excl. one-off gain
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What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$33.11 $13.82 Fair Value $7.05 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.

How to read this chart

60‑month range $13.82 – $33.11 · fair‑value band $6.11 – $8.00 · the $19.07 price screens above the $7.05 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.

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Company profile

i3 Verticals, Inc. provides enterprise software and services solutions to public sector entities in the United States and Canada.

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The company offers digital solutions for dynamic processes to plan, coordinate, evaluate, record, and provide up to date information within court systems; E-Filing and revenue cycle management solutions for courts; solutions for computer aided dispatch, records management, evidence management, jail management, mobile solutions, and livescan; and software solutions for vehicle title and registration, driver's license and permit management, and motor carrier compliance for departments of transportation.

It also provides digital customer engagement platform, comprising web, mobile, chat, and voice options; billing and back-office management software solutions and services; solutions for school lunch programs, including meal account management, point of sale, menu planning, nutritional analysis, food inventory and free, and reduced meal applications, as well as school event solutions, such as ticketing and concessions.

In addition, the company offers government fund accounting software; digital land records solutions, including AI indexing of information; computer assisted mass appraisal solutions; licensing and permitting solutions that include automation every step of the application, renewal, and payment process; and tax and revenue collection management solutions. i3 Verticals, Inc. was founded in 2012 and is based in Nashville, Tennessee.

Stock analysis

i3 Verticals Inc (IIIV) currently trades at $19.07, while our model-based Fair Value estimate is $7.05, 63% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 4 models at a data quality of 81/100, which puts the data coverage at medium.

Scenario range: $6.11 (bear) to $8.00 (bull), the price of $19.07 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 49/100 (below-average quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

i3 Verticals Inc reported revenue of $213M in FY2025 versus $224M in FY2021, a compound −1.2%/yr. Reported net income was $17.9M in FY2025.

Key figures

Market cap $601M Small · P/E ratio 57.6 · P/S ratio 1.76 · EPS (TTM) $0.3000 · Net margin 3.9% · Return on equity 2.3% · Return on assets (EBIT) −0.4% (5-year average) · Operating margin 1.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 31 out of 100 (low confidence).

What moves the price

The share trades about 35% below its 52-week high and 38% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −11% fair-value upside, at −63%, IIIV screens richer than that median.

Fair Value models

Bear $6.11 Fair Value $7.05 Bull $8.00
Price $19.07 · Downside -63.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then ($0.3000 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
5Y EBITDA Exit n/a n/a $7.63 72
EV/EBITDA $21.59 $27.69 $33.80 67
EV/EBIT $6.11 $7.05 $8.00 66
All 4 models by family
DCF Models
5Y EBITDA Exit n/a n/a $7.63 72
Multiples
EV/EBIT $6.11 $7.05 $8.00 66
EV/EBITDA $21.59 $27.69 $33.80 67
EV/Revenue $5.30 $6.16 $7.03 54

Open the full fair value analysis →

Quality Score breakdown

Overall quality 49/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 30
How much profit the company makes from its sales and capital
Quality Growth 32
Are margins and returns getting better?
Cashflow 24
Do the profits arrive as real cash?
Financial strength 55
Debt, balance sheet and risk of trouble
Investment 67
Does it invest with discipline instead of growing at any price?
Low Volatility 55
How calm the share price moves, does not count
Price momentum 31
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 17
Distance to the 52-week high, does not count
New shares 100
Buys back shares or issues new ones?

Open the full quality analysis →

Insider trades

In the last 6 months, one officer or director bought shares worth $961,500, on May 14, 2026.

  • BuyGregory S DailyChief Executive Officer, Director, 10% owner50,000 shares at $19.23$961,500May 14, 2026
  • SalePaul ChristiansChief Revenue Officer3× since Nov 26, 2025: 18,414 shares, avg. $23.35$429,928Mar 6, 2026
  • SaleFrederick StanfordPresident11,347 shares at $24.21$274,711Nov 21, 2025

Plus one other filing such as a grant, option exercise or tax withholding. It is not a market purchase or sale.

Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.

Source: SEC Form 4, as of Nov 6, 2026. All filings at the SEC ↗

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 48/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−7.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.3%
Start year 2020 (pandemic)
Revenue growth 9 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.7%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
5.2% (2020) → 1.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed

Growth Forecast

A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+58.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+3.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +54.7% a year for the price and +0.9% for the forecasts.
Forecast 2026 (sales)+3.6%
Forecast 2027 (sales)+3.6%
Projected 2028 (sales)+3.4%
Projected 2029 (sales)+3.2%
Projected 2030 (sales)+3.0%

IIIV screens overvalued: fair value 63% below the price. Compare with Microsoft Corporation →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Infrastructure · 345 stocks

Beats the industry median on 3/13 measures
Overall it trails its industry peers.
Valuation
Quality Score 49 · Below median
Fair Value upside −63.0% · Bottom 25%
Profitability
Return on equity (12 months) 2.3% · Below median
Return on assets 4.2% · Above median
Net margin (12 months) 5.8% · Above median
Operating margin (12 months) 1.0% · Below median
Growth and dividend
Revenue growth (quarter YoY) 2.2% · Below median
Balance sheet
Debt / equity 0.99× · Highest 25%

Valuation Multiplesvs Software - Infrastructure median · lower = cheaper

P/E (12 months) 57.6× · Priciest 25%
P/B 1.54× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months) 4.08× · Pricier than median
Price / free cash flow (fiscal year) 237.3× · Priciest 25%
EV/EBITDA 66.3× · Priciest 25%
PEG 1.24× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 25
FUTURE (revenue growth)11 · sector 60
PAST (return on equity)9 · sector 23
HEALTH (low debt)51 · sector 98
DIVIDEND (yield)0 · sector 31

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Software - Infrastructure stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Fortinet, Inc FTNT $118.84 $134.76 +13% vs IIIV
Microsoft Corporation MSFT $530.61 $583.67 +10% vs IIIV
Oracle Corporation ORCL $116.10 $111.97 −4% vs IIIV
NetApp, Inc NTAP $169.19 $156.80 −7% vs IIIV
Block, Inc XYZ $85.48 $76.43 −11% vs IIIV
Synopsys, Inc SNPS $450.46 $288.23 −36% vs IIIV
Zscaler, Inc ZS $197.66 $101.45 −49% vs IIIV
Palantir Technologies Inc PLTR $160.38 $42.20 −74% vs IIIV
CrowdStrike Holdings CRWD $216.90 $37.97 −82% vs IIIV
Palo Alto Networks, Inc PANW $313.84 $39.54 −87% vs IIIV

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Cite: Fair Value Calculator (2026). "i3 Verticals Inc Fair Value". https://www.fairvalue-calculator.com/stock/IIIV

Frequently asked questions

Is i3 Verticals Inc (IIIV) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of $7.05 versus a price of $19.07, about 63% lower (overvalued).
What is the fair value of IIIV?
Our model-based fair value for i3 Verticals Inc is $7.05 (as of Nov 8, 2026), built from audited fundamentals. The current price: $19.07.
What is the quality score of IIIV?
i3 Verticals Inc has a Quality Score of 49/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for i3 Verticals Inc (IIIV)?
Our model-based price target is the fair value of $7.05 (as of Nov 8, 2026) from 4 valuation models. Cautious scenario $6.11, optimistic scenario $8.00. It is a calculation from audited fundamentals, not an analyst target.
What is the i3 Verticals Inc stock forecast for 2026?
Our models put fair value at $7.05, about 63% lower versus a price of $19.07 (overvalued). Cautious scenario $6.11, optimistic scenario $8.00. The calculation is refreshed regularly with new filings.
What is the revenue of i3 Verticals Inc (IIIV)?
i3 Verticals Inc reported trailing-twelve-month revenue of about $218M (latest available figure, as of Nov 8, 2026).
What growth is priced into i3 Verticals Inc (IIIV)?
For today's price to be fair in a discounted-cash-flow model, i3 Verticals Inc would have to grow free cash flow by +58.4 % per year for five years (discount rate 10.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.3 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of IIIV use?
Our models discount i3 Verticals Inc at 10.6 %: a base by market capitalisation (small), damped by beta 0.78, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For i3 Verticals Inc that is +58.4 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.6 %) and the same formula as our fair value.
How much growth has i3 Verticals Inc (IIIV) delivered so far?
Over the past 5 years revenue at i3 Verticals Inc grew +7.3 % a year. The price currently implies free-cash-flow growth of +58.4 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of i3 Verticals Inc (IIIV) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into i3 Verticals Inc (+58.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of i3 Verticals Inc (IIIV)?
The free-cash-flow yield on the price is 1.01 %: that much free cash flow i3 Verticals Inc produces per unit of market value. When it exceeds the discount rate of our models (10.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of i3 Verticals Inc (IIIV)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For i3 Verticals Inc it is $7.05 per share (as of Nov 8, 2026), against a price of $19.07. It is the blended result of 4 valuation models in 2 families (DCF Models, Multiples).
Is i3 Verticals Inc stock overvalued or undervalued in 2026?
As of Nov 8, 2026, IIIV trades above its calculated fair value: price $19.07, fair value $7.05, a gap of about −63% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of IIIV?
No. The price is what the market pays today ($19.07); the fair value is what the company's own numbers justify ($7.05). For i3 Verticals Inc the two are $12.02 per share apart. That gap is exactly why we show both numbers side by side.
How much is i3 Verticals Inc worth?
The market values i3 Verticals Inc at about $601M (market capitalisation, as of Nov 8, 2026). Per share that is $19.07; our models calculate a fair value of $7.05 per share.
What do the bullish and bearish scenarios say about IIIV?
Our models span a range for i3 Verticals Inc: cautious scenario $6.11, base $7.05, optimistic $8.00 per share (as of Nov 8, 2026, price $19.07). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of IIIV?
i3 Verticals Inc trades at a price-to-earnings ratio of 57.6 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $7.05 is built from several models across several years. Other multiples: PEG 1.2, P/B 1.5, P/S 4.1, EV/EBITDA 66.3.
What is the PEG ratio of IIIV?
The PEG ratio of i3 Verticals Inc is 1.24 (P/E divided by earnings growth, as of Nov 8, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of i3 Verticals Inc (IIIV)?
Balance-sheet figures for i3 Verticals Inc (as of Nov 8, 2026): return on equity 2.3%, debt of 0.99 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is IIIV from its 52-week high?
i3 Verticals Inc trades at $19.07, about 35% below its 52-week high of $29.54 and 38% above the low of $13.82 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $7.05 is for.
Which stocks are comparable to i3 Verticals Inc?
From the same area (Technology) we also value Microsoft Corporation, Oracle Corporation, Palantir Technologies Inc, Palo Alto Networks, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is i3 Verticals Inc stock attractive at the current price?
The data as of Nov 8, 2026: price $19.07, calculated fair value $7.05 (−63%), Quality Score 49/100, from 4 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of IIIV calculated?
We run i3 Verticals Inc through 4 models from 2 families: DCF Models, Multiples. Every model gets the same audited fundamentals; the fair value of $7.05 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. i3 Verticals Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of i3 Verticals Inc (IIIV)?
The closing price on Nov 6, 2026 was $19.07. Our model-based fair value is $7.05, about 63% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with i3 Verticals Inc right now?
The price sits above even our optimistic bull case ($8.00). The favourable scenario is already priced in. Weak quality (49/100) and above fair value at the same time, the margin of safety is missing on both counts.

Key figures of i3 Verticals Inc

How large is the market capitalisation of i3 Verticals Inc (IIIV)?
The market capitalisation of i3 Verticals Inc is $601M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of i3 Verticals Inc (IIIV)?
The price-to-sales ratio of i3 Verticals Inc is 1.76 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of i3 Verticals Inc (IIIV)?
Earnings per share at i3 Verticals Inc are $0.3000 (price ÷ EPS = P/E 57.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of i3 Verticals Inc (IIIV)?
The net margin of i3 Verticals Inc is 3.9% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of i3 Verticals Inc (IIIV)?
The return on equity (ROE) of i3 Verticals Inc is 2.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of i3 Verticals Inc (IIIV)?
On an EBIT basis the return on assets of i3 Verticals Inc is −0.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of i3 Verticals Inc (IIIV)?
The operating margin of i3 Verticals Inc is 1.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at i3 Verticals Inc (IIIV)?
Revenue at i3 Verticals Inc is growing +2.2% versus a year earlier (3y avg +4.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at i3 Verticals Inc (IIIV)?
Earnings per share at i3 Verticals Inc are growing −66.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does i3 Verticals Inc (IIIV) hold?
i3 Verticals Inc holds more cash than debt, $58.9M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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