i3 Verticals, Inc. (IIIV)

Services-Prepackaged Software

Latest Price

$17.31

TTM P/E

44.38

Normalized P/E

16.92

TTM Div Yield

Fwd Div Yield

Book Value

12.97

P/B Ratio

1.34

Valuation metrics

EPS: $0.72

Book value / share: $11.40

Formula: √(22.5 × EPS × BVPS)

Graham Number

$13.59

20% downside

Norm. op. income: $6M (median of 7yr)

Tax rate: 45%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$2.98

83% downside

Base FCF: $44M (median of recent 5yr)

Growth: -9%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$10.01

41% downside

EPS: $0.72

Target P/E: 17×

Formula: EPS × P/E

P/E Fair Value

$12.24

28% downside

100.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	1.80M	$38.0M	9.28%	+26.6K	2026-06-30
AltraVue Capital, LLC	1.12M	$23.0M	5.77%	-50.1K	2026-06-30
Crosslink Capital Inc	1.12M	$23.0M	5.76%	+152.0K	2026-06-30
Punch & Associates Investment Management, Inc.	1.10M	$23.0M	5.66%	+66.9K	2026-06-30
North Reef Capital Management LP	1.07M	$22.0M	5.54%	+50.0K	2026-06-30
Heartland Advisors Inc	965.3K	$20.0M	4.97%	+358.3K	2026-06-30
Forager Capital Management, LLC	864.6K	$18.0M	4.45%	+285.2K	2026-06-30
Jennison Associates LLC	856.6K	$18.0M	4.41%	-13.4K	2026-06-30
Vanguard Capital Management LLC	814.5K	$17.0M	4.19%	-148.6K	2026-06-30
First Eagle Investment Management, LLC	723.0K	$15.0M	3.72%	+340.9K	2026-06-30