TSS, Inc.
TSSI· Nasdaq· Services-Management Consulting Services
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- 0.9%
- ROIC, 5 yr avg
- –
- Revenue, 5 yr CAGR
- +40.4%
We record prices for the companies we cover; TSSI is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 27.2M
- Revenue
- $245.7M
- Free cash flow
- $2.1M
- Owner earnings
- -$1.8M
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- 13.2%
- Operating
- 2.6%
- Net
- 6.2%
- Free cash flow
- 0.9%
- Owner earnings
- -0.7%
- Stock pay
- 1.6%
Returns
- ROIC, FY2025
- –
- ROIC, 5 yr avg
- –
- ROE, FY2025
- 19.7%
- ROE, 5 yr avg
- 8.8%
Growth (CAGR)
- Revenue, 3 yr
- 100.2%
- Revenue, 5 yr
- 40.4%
- Revenue, 9 yr
- 27.6%
- Diluted EPS, 3 yr
- –
- Diluted EPS, 5 yr
- –
- Diluted EPS, 9 yr
- –
- Free cash flow, 3 yr
- -46.9%
- Free cash flow, 5 yr
- -26.1%
- Free cash flow, 9 yr
- 1.0%
Financial health · FY2025
- Cash and investments
- $85.5M
- Total debt
- $18.0M
- Net cash
- $67.5M
- Debt/Equity
- 0.2x
- Debt/FCF
- 8.5x
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- –
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- 5.3%
Financials: ten years from the 10-Ks
Revenue
$245.7M
+27.6% a year over 9 years
FY2016FY2025
Margins
Gross13.2%Operating2.6%Net6.2%
FY2025
FY2016FY2025
Free cash flow and owner earnings
Free cash flow$2.1MOwner earnings-$1.8M
Free cash flow +1.0% a year
FY2016FY2025
Diluted shares
27.2M
+76.7% over 9 years, net dilution
FY2016FY2025
Net cash
$67.5M
$67.5M more cash than debt
FY2016FY2025
Every figure, year by year
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $27.4M | $18.3M | $22.3M | $32.8M | $45.1M | $27.4M | $30.6M | $54.4M | $148.1M | $245.7M |
| Revenue growth | -7.2% | -33.1% | 21.9% | 46.8% | 37.5% | -39.2% | 11.8% | 77.6% | 172.3% | 65.9% |
| Gross margin | 26.3% | 42.2% | 38.0% | 20.1% | 15.1% | 23.2% | 29.3% | 20.2% | 15.1% | 13.2% |
| Operating margin | -2.3% | 6.0% | 12.8% | 1.5% | -0.9% | -3.0% | 3.0% | -0.4% | 3.9% | 2.6% |
| Net income | -$1.0M | $766.0K | $2.4M | $126.0K | $79.0K | -$1.3M | -$73.0K | $74.0K | $6.0M | $15.1M |
| Net margin | -3.7% | 4.2% | 10.9% | 0.4% | 0.2% | -4.7% | -0.2% | 0.1% | 4.0% | 6.2% |
| Diluted EPS | $-0.07 | $0.05 | $0.13 | $0.01 | $0.00 | $-0.07 | $0.00 | $0.00 | $0.24 | $0.56 |
| Return on invested capital? | – | – | – | – | – | – | – | – | – | – |
| Cash | ||||||||||
| Operating cash flow | $2.2M | -$45.0K | $1.9M | $3.0M | $10.0M | -$10.5M | $14.7M | -$8.3M | $15.3M | $34.9M |
| Capital expenditure | $290.0K | $212.0K | $242.0K | $594.0K | $396.0K | $64.0K | $536.0K | $257.0K | $8.5M | $32.7M |
| Free cash flow | $1.9M | -$257.0K | $1.7M | $2.4M | $9.6M | -$10.5M | $14.2M | -$8.5M | $6.8M | $2.1M |
| Stock-based compensation | $193.0K | $68.0K | $241.0K | $358.0K | $392.0K | $469.0K | $530.0K | $581.0K | $1.2M | $4.0M |
| Owner earnings? | $1.7M | -$325.0K | $1.4M | $2.1M | $9.2M | -$11.0M | $13.6M | -$9.1M | $5.6M | -$1.8M |
| Free cash flow per share | $0.13 | $-0.02 | $0.09 | $0.12 | $0.46 | $-0.57 | $0.71 | $-0.39 | $0.27 | $0.08 |
| Capital allocation | ||||||||||
| Dividends paid | – | – | – | – | – | – | – | – | – | – |
| Share repurchases | $1.0K | $4.0K | $6.0K | $158.0K | $174.0K | $197.0K | $134.0K | $40.0K | $4.5M | $4.9M |
| Diluted shares | 15.4M | 16.5M | 18.7M | 20.9M | 21.0M | 18.4M | 20.1M | 22.0M | 25.1M | 27.2M |
| Share count change? | 3.9% | 7.3% | 13.0% | 12.1% | 0.3% | -12.5% | 9.2% | 9.8% | 13.9% | 8.6% |
| Balance sheet | ||||||||||
| Cash and equivalents | $2.2M | $2.3M | $6.2M | $8.7M | $19.0M | $8.0M | $20.4M | $11.8M | $23.2M | $85.5M |
| Short-term investments | – | – | – | – | – | – | – | – | – | – |
| Total debt | $1.1M | $1.7M | $1.8M | $2.0M | $2.2M | $2.0M | $0 | $0 | $8.2M | $18.0M |
| Net debt | -$1.1M | -$612.0K | -$4.3M | -$6.7M | -$16.8M | -$6.0M | -$20.4M | -$11.8M | -$15.0M | -$67.5M |
| Shareholders' equity | -$1.4M | -$305.0K | $2.5M | $2.9M | $3.2M | $2.2M | $2.9M | $3.5M | $7.1M | $76.6M |
Latest filings
| 2026-08-13 | 10-Q | Quarterly report |
| 2026-08-13 | 8-K | Earnings release |
| 2026-05-07 | 8-K | Earnings release |
| 2026-05-07 | 10-Q | Quarterly report |
| 2026-04-23 | DEF 14A | Proxy statement |
| 2026-03-18 | 10-K | Annual report |
| 2026-03-11 | 8-K | Earnings release |
| 2025-11-13 | 8-K | Earnings release |
| 2025-11-13 | 10-Q | Quarterly report |
| 2025-08-11 | 10-Q | Quarterly report |
More from our coverage
- MSFTPlatforms8.4MicrosoftThe most entrenched software franchise in the enterprise, now spending its cash flow on AI capacity; a great business we would own with a margin of safety, not at any price.Base value $410.29
- NVDAAI infrastructure8.4NVIDIAThe best business in technology at the top of its cycle: the moat is CUDA as much as silicon, but today's margins are a peak, not a floor.Base value $104.32
- AAPLHardware7.6AppleOne of the highest-quality businesses in the world growing in the low single digits; the price usually assumes more growth than the numbers show.Base value $134.27
- GOOGLPlatforms7.4AlphabetSearch pays for everything, and AI is both its biggest threat and its biggest opportunity; the price has to allow for search being worth less than it was.Base value $209.60
- NOWSoftware7.4ServiceNowA rare enterprise platform still growing above 20% with high retention; the free cash flow is real but stock pay takes a large share of it.Base value $189.13
- ADBESoftware7.4AdobeSuperb margins and a shrinking share count, priced for decline; the question is whether AI makes Adobe's tools more valuable or makes them unnecessary.Base value $449.35
