Newsmax Inc. Class B Common Stock (NMAX)

FairStock Score: 39/100 — MIXED

Key Financials

AI Analysis

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

I approach a broadcaster like Newsmax with Graham's question: what is it worth, and what am I paying? The filings show revenue of $189.3M in fiscal 2025 versus $171.0M in fiscal 2024, but net income was -$99.5M in fiscal 2025 after -$72.2M in fiscal 2024. That is not a record of stable earning power. The latest fiscal Q2 2026, the quarter ended 2026-06-30, showed revenue of $54.1M, net income of $2.9M, and diluted EPS of $0.02. That is encouraging, but one quarter does not create a moat. Returns remain poor: FairStock calculations show ROE of -5.82%, ROCE of -3.84%, and trailing free cash flow of -$71.6M, a -5.5% FCF yield. The balance sheet has low leverage, with D/E of 0.10, and an Altman Z-Score of 5.53, so solvency is not the immediate worry. Valuation is the problem. At $10.05 on 2026-10-13, FairStock calculations put the P/E at 59.12, P/B at 11.42, and Graham Number at $1.83. The margin of safety is -449.18%, meaning the price is far above the asset-and-earnings value Graham would demand. The Piotroski F-Score is 5/9, and the Lynch category is none because only two years of filed results exist. I see a speculative news franchise with improving recent revenue and a tiny profit, but no proven durable advantage and no bargain price.

In plain English: Newsmax is a television and digital news publisher. The business has grown revenue, but it lost money in fiscal 2024 and fiscal 2025, though it made a small profit in the latest quarter. At the recent price, the shares look expensive compared with its profits, accounting value, and cash flow.

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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)

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