American Shared Hospital Services Common Stock (AMS)

FairStock Score: 54/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses with durable earning power, bought at a sensible price. American Shared Hospital Services is a tiny, 82-employee lessor and operator of radiosurgery equipment, with nine Gamma Knife systems and one proton beam unit serving hospitals and clinics. That niche may have switching costs, but it is capital-intensive and dependent on reimbursement, so I do not see a wide moat. The numbers show why this is a turnaround. Revenue rose from $21.3M in fiscal 2023, the year ended 2023-12-31, to $28.3M in fiscal 2024, the year ended 2024-12-31, then eased to $28.1M in fiscal 2025, the year ended 2025-12-31. More troubling, net income went from $610,000 in fiscal 2023 and $2.2M in fiscal 2024 to a $1.6M loss in fiscal 2025. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $8.4M and net income was negative $514,000. FairStock labels this a TURNAROUND because the latest year showed a loss after earlier profits. Financial health is the weak spot: debt-to-equity is 0.80, the Altman Z-Score is 0.28, and the Piotroski F-Score is 5/9. Valuation is where the interest lies. At the $1.27 close on 2026-10-13, FairStock calculates a price-to-book of 0.36, a negative P/E of -4.88, TTM free cash flow of $3.5M, a 41.9% FCF yield, and EV/EBITDA of 6.89. A Graham-style buyer might be drawn to the asset discount and cash generation. But FairStock's ROE of -12.06% and ROCE of -2.44% warn that the assets are not currently earning. If free cash flow is durable and losses reverse, the equity could be very cheap. If losses persist, the low price may be a value trap.

In plain English: American Shared Hospital Services provides and leases specialized radiation equipment, such as Gamma Knife and proton beam systems, mainly to hospitals and clinics. The business looks weak right now: revenue has grown, but it lost money in fiscal 2025 and in the latest quarter, and it has meaningful debt. At $1.27 on 2026-10-13, the price looks cheap compared with its assets and cash flow, but the losses make that cheapness uncertain.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer