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ITEX Corporation (ITEX) Fair Value & Analysis

Financial Services · US · Market cap $5.1M

IC ITEX Corporation logo ITEX Corporation ITEX · US
Price$3.25
Fair Value$5.13
Upside+57.9%
Quality68/100
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Weak Growth
Thin margins · 9.3% net margin
Low debt · generates free cash flow
Ranks above peers (9/13)
Narrow moat 42/100
Evidence: High Range $3.84 – $6.41 Share as image

Fair value as of: Jul 26, 2026

From 9 valuation models · updated 15 days ago

Share price +6.9% over the past month.

A solid business, screening 58% undervalued on our models.

What matters now

  • The price is below even our cautious bear case ($3.84). The market is more pessimistic than our downside scenario.
  • Solid quality (68/100) at a price below fair value, the discount is the argument here, not the business quality.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

$3.56 $0.9003 Fair Value $5.13 Jun 2015 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 26, 2026.

How to read this chart

60‑month range $0.9003 – $3.56 · fair‑value band $3.84 – $6.41 · the $3.25 price screens below the $5.13 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 26, 2026.

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Analysis

ITEX Corporation (ITEX) currently trades at $3.25, while our model-based Fair Value estimate is $5.13, implying the stock looks roughly 57.9% undervalued today. The Quality Score stands at 68/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, ITEX Corporation generated revenue of $5.4M at a net margin of 9.3%. Revenue declined 7.8% year over year. It earns a return on equity of 7.7%. The balance sheet holds a net cash position of $4.6M. Fundamentals as of Jul 26, 2026

Our scenario range runs from $3.84 (bear case) to $6.41 (bull case); at $3.25, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 65% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 11% fair-value upside, at 58%, ITEX screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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. Evidence
Highest evidence
Growth DCF $5.86 $6.59 $7.69 80
Residual Income $2.72 $2.82 $2.86 76
Rev-Margin DCF $5.40 $6.45 $7.77 74
All 9 models by family
DCF Models
5Y P/E Exit $6.34 $7.99 $9.97 38
10Y P/E Exit $6.06 $7.03 $7.95 35
Earnings-Based
Graham-Dodd $2.05 $2.51 $2.82 54
Multiples
P/E Multiple $4.75 $6.33 $7.92 63
P/B Multiple $3.84 $5.13 $6.41 55
Asset-Based
NCAV (Graham) $1.80 $2.41 $3.60 50
Growth DCF
Growth DCF $5.86 $6.59 $7.69 80
Rev-Margin DCF $5.40 $6.45 $7.77 74
Economic Profit
Residual Income $2.72 $2.82 $2.86 76

Widest divergence: DCF Models ($7.03) versus Asset-Based ($2.41). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) $5.4M
Revenue growth (YoY) -7.8%
Net margin 9.3%
Return on equity 7.7%
Free cash flow $696K FY2025
P/E ratio 9.5
More key figures
Operating margin 12.9%
EPS (TTM) $0.3200
Net cash $4.6M FY2025

Figures from reported company fundamentals · as of Jul 26, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 68/100

Of which business quality 66 · Market factors (momentum, volatility) 75

Profitability 45
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 67
Earnings quality: real cash, not paper profit
Fin. Strength 74
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 77
Price trend over the last 3–12 months (market factor)
52W Momentum 99
Distance to the 52-week high (market factor)
Net Issuance 79
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

ITEX Corporation operates a marketplace in which products and services are exchanged by marketplace members without exchanging cash in the United States. It also administers the marketplace, as well as provides record-keeping and payment. The company services its member businesses through its franchise network and independent licensed brokers.

Full company description

ITEX Corporation operates a marketplace in which products and services are exchanged by marketplace members without exchanging cash in the United States. It also administers the marketplace, as well as provides record-keeping and payment. The company services its member businesses through its franchise network and independent licensed brokers. ITEX Corporation was incorporated in 1985 and is headquartered in Bellevue, Washington.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ITEX Corporation reported revenue of $5.4M in FY2025 versus $6.9M in FY2021, a compound −5.7%/yr. Reported net income was $504K in FY2025, compounding −11.0%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
$5.4M
Latest YoY
−11.2%
Avg. growth/yr (3Y) 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.
−6.6%
Avg. growth/yr (5Y) 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.
−7.1%
Avg. growth/yr (25Y) 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.
−3.6%
Revenue −5.7%/yr
FY21 $6.9M
FY22 $6.7M
FY23 $6.6M
FY24 $6.1M
FY25 $5.4M
Net income −11.0%/yr
FY21 $802K
FY22 $551K
FY23 $834K
FY24 $697K
FY25 $504K

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Cite: Fair Value Calculator (2026). "ITEX Corporation Fair Value". https://www.fairvalue-calculator.com/stock/ITEX

Peer Group

Capital Markets · 423 stocks

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.

Quality Score 67 · Top 25%
Fair Value upside +58% · Top 25%
Return on equity (TTM) 8% · Above median
Return on assets 4% · Above median
Net margin (TTM) 9% · Below median
Operating margin (TTM) 13% · Below median
Revenue growth -8% · Bottom 25%

Valuation Multiples vs Capital Markets median · lower = cheaper

P/E (TTM) 9.5× · Cheaper than 75% of peers
P/B 0.85× · Cheaper than median
P/S (TTM) 0.94× · Cheaper than median
P/FCF 7.3× · Pricier than median
EV/EBITDA 1.0× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 9
FUTURE 0 · sector 96
PAST 31 · sector 30
HEALTH 100 · sector 93
DIVIDEND 0 · sector 36

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Jul 26, 2026).

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Motilal Oswal Financial Services Limited MOTILALOFS ₹967.00 ₹299.65 -69%
Kiwoom Securities Co 039490 322,000 KRW 358,091 KRW +11%
SSI Securities Corporation SSI 24,250 VND 28,021 VND +16%
Bolsas y Mercados Argentinos S.A BYMA 313.75 ARS 120.22 ARS -62%

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Frequently asked questions

Is ITEX Corporation (ITEX) overvalued or undervalued?
As of Jul 26, 2026, our model estimates a fair value of $5.13 versus a price of $3.25, about +58% (undervalued).
What is the fair value of ITEX?
Our model-based fair value for ITEX Corporation is $5.13 (as of Jul 26, 2026), built from audited fundamentals. The current price is $3.25.
What is the quality score of ITEX?
ITEX Corporation has a Quality Score of 68/100. 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 revenue of ITEX Corporation (ITEX)?
ITEX Corporation reported trailing-twelve-month revenue of about $5.4M (latest available figure, as of Jul 26, 2026).
What is the net profit margin of ITEX?
The net profit margin of ITEX Corporation is about 9.3%, meaning it keeps roughly 9.3% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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