KVH Industries Inc. Common Stock (KVHI)

FairStock Score: 63/100 — STEADY

Key Financials

AI Analysis

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

As a value investor, I start with whether the business earns money and what I pay for those earnings. KVH is a small mobile-connectivity provider. The latest filed numbers show improvement: in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $33.7M, net income was $163,000, and diluted EPS was $0.01. In fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $32.3M, net income was $588,000, and EPS was $0.03. That follows fiscal Q3 2025, when revenue was $28.5M, net income was -$6.9M, and EPS was -$0.36. Full-year losses have narrowed: FY2025 revenue was $111.0M and net income was -$7.4M, versus FY2024 revenue of $113.8M and net income of -$11.0M, and FY2023 revenue of $132.4M and net income of -$15.4M. So the direction is better, but profits are thin and revenue is below FY2023. The balance sheet is conservative: D/E 0.04, Altman Z 4.20, Piotroski 7/9. Still, trailing free cash flow is -$1.4M, a -1.2% FCF yield. At the 2026-10-13 close of $6.33, FairStock calculates P/B 0.94, P/E -21.10, and EV/EBITDA 18.45. That is not expensive relative to book, but negative earnings make the P/E meaningless. The Lynch category is TURNAROUND—loss in the latest year after earlier profits. A narrow niche and recurring-service elements may help, but I see no proof of a durable moat yet. I would need consistent positive free cash flow and better margins before calling this a high-quality bargain.

In plain English: KVH Industries sells mobile internet and communications services for boats and vehicles. The business has been losing money in recent full years, though the last two reported quarters were slightly profitable. At the 2026-10-13 close of $6.33, the stock looks near its accounting value, but not clearly cheap because profits and cash flow are still weak.

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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