SPAR Group Inc. Common Stock (SGRP)

FairStock Score: 10/100 — RISKY

Key Financials

AI Analysis

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

I look for businesses that earn durable profits and turn them into cash. SPAR Group runs a labor-intensive merchandising and brand-marketing service across several regions. It has no obvious moat I can see; competitors can bid for similar retail work. Reported figures tell a difficult story. In FY2023, the fiscal year ended 2023-12-31, revenue was $187.9M, net income $3.9M, and diluted EPS $0.16. By FY2024, the fiscal year ended 2024-12-31, revenue fell to $163.6M and net income was negative $3.1M, or diluted EPS -$0.13. In FY2025, the fiscal year ended 2025-12-31, revenue was $136.1M and net loss widened to $24.6M, diluted EPS -$1.04. Q3 2025, the quarter ended 2025-09-30, had a net loss of $8.8M and diluted EPS -$0.37. The latest report is better: fiscal Q2 2026, the quarter ended 2026-06-30, revenue $36.9M, net income $409,000, diluted EPS $0.02. Still, Q1 2026, the quarter ended 2026-03-31, had a net loss of $553,000. FairStock calculations at the 2026-10-13 close of $0.68 show a P/E of -0.64, P/B 5.67, ROE -179.41%, ROCE -10.41%, debt-to-equity 10.90, Altman Z-score 0.52, and trailing FCF of -$18.3M. The FCF yield is -94.8% of the $19.3M market cap. A low stock price is not the same as a bargain. Without consistent cash generation and with leverage this high, the margin of safety is thin. FairStock calls it a TURNAROUND—loss in the latest year after earlier profits.

In plain English: SPAR Group provides merchandising and brand-marketing services to retailers in several regions. The business looks weak right now: it had large losses and falling sales recently, though the latest quarter showed a small profit. At $0.68, the price does not look cheap compared with its weak profits, assets, and negative 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/A (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