PSQ Holdings Inc. Class A Common Stock (PSQH)

FairStock Score: 44/100 — MIXED

Key Financials

AI Analysis

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

Looking at PSQ Holdings, I see a small online marketplace and payments business with $18.2M of revenue in fiscal 2025, the year ended 2025-12-31, up from $10.1M in fiscal 2024, the year ended 2024-12-31, and quarterly revenue of $7.1M in fiscal Q2 2026, the quarter ended 2026-06-30, versus $3.4M in fiscal Q2 2025, the quarter ended 2025-06-30. That top-line growth is real, and the net loss narrowed from $57.7M in fiscal 2024 to $36.6M in fiscal 2025; in fiscal Q2 2026 it was $5.6M. But the company has lost money every year, and FairStock’s Lynch category is 'none' precisely because it has losses in each of the last four years. It burned $18.8M of free cash flow over the trailing twelve months, a negative 47.3% FCF yield on a $39.7M market cap at the 2026-10-13 close. FairStock also shows a P/B of 3.06, ROE of -218.20%, ROCE of -30.41%, D/E of 8.67, a Piotroski score of 3/9, and an Altman Z-score of -4.26. Those are not the marks of a durable moat; they suggest a fragile balance sheet. Revenue did slip sequentially, from $8.2M in fiscal Q1 2026, the quarter ended 2026-03-31, to $7.1M in fiscal Q2 2026, so growth is not a straight line. The business operates in competitive marketplaces and payments, with only 36 employees and no profits to fund itself. At $3.83, the 2026-10-13 close, FairStock's negative P/E of -0.43 makes earnings-based valuation meaningless. Graham would demand a margin of safety, but here the assets and earnings give little support. I would want to see sustainable revenue growth, sharply lower cash burn, and a credible path to profitability before calling this anything but speculative.

In plain English: PSQ Holdings runs an online marketplace, payment and financing services, and sells household products such as diapers and soaps. Sales are growing quickly, but the company loses money, spends more cash than it brings in, and has not yet turned a profit. At $3.83, the price looks expensive compared with its current profits 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) · 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