FatPipe Inc. Common Stock (FATN)

FairStock Score: 58/100 — STEADY

Key Financials

AI Analysis

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

I look for businesses I can understand, run by honest managers, and priced with a margin of safety. FatPipe sells SD-WAN, SASE, and network-monitoring software — a competitive but understandable niche. At the close on 2026-10-13, the stock was $4.96 and the market cap $27.9M. FairStock's P/E of 12.72 and EV/EBITDA of 6.91 are not demanding if earnings persist. Filed results show fiscal year 2026, ended 2026-03-31, revenue of $19.2M, net income of $5.0M, and diluted EPS of $0.35, up from fiscal year 2025 revenue of $16.3M, net income of $2.0M, and diluted EPS of $0.15. The latest filed quarter, fiscal Q1 2027 ended 2026-06-30, had revenue of $5.0M, net income of $1.2M, and diluted EPS of $0.09. That is encouraging. But the two-year record is uneven: fiscal year 2024, ended 2024-03-31, had revenue of $17.9M and net income of $4.4M, so the computed Lynch category is SLOW GROWER, with profit growth of 6.7% a year and revenue growth of 3.7% over two years. Trailing free cash flow is negative $965,390, and the FCF yield is -3.5%, so accounting profit is not yet cash. FairStock calculations show D/E 0.21 and Altman Z-Score 3.19, but Piotroski is only 4/9 and ROCE is 6.46%. The Graham Number of $4.07 leaves the price 21.87% above that asset-based estimate. For a 172-person microcap in a fast-moving software field, I would want a wider discount and evidence that cash earnings are real.

In plain English: FatPipe makes software that helps businesses connect and secure their networks across offices and cloud services. The latest reported quarter was profitable, and yearly profit improved from the prior year, but the company has not been generating spare cash and its two-year growth record is slow. At the recent price of $4.96, the stock does not look clearly cheap or clearly expensive based on the numbers given.

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 Q1 2027 10-Q (period ended 2026-06-30) · fiscal Q3 2026 10-Q (period ended 2025-12-31) · fiscal Q2 2026 10-Q (period ended 2025-09-30) · fiscal Q1 2026 10-Q (period ended 2025-06-30) · FY2026 10-K (period ended 2026-03-31) · FY2025 10-K (period ended 2025-03-31) · FY2024 10-K (period ended 2024-03-31)

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