TSS, Inc. · Management Consulting Services

TSSI

Low riskNext report: Around Nov 12 (est.)

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The short version

A profitable company with shrinking sales. Institutions are adding.

Going well

Profitable
Sales up 66% last year
Brings in more cash than it spends

Watch out for

Sales down 20% in the latest quarter vs a year ago
Share count growing 10.7% a year (dilution)

Money moves

No insider buying or selling in the last 30 days
Institutions added 33% to their holdings in the quarter ending June 2026 (88 bought, 41 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$6.89-0.6% that day

Company value: $194M; Share price times all shares
Price vs profit (P/E): 13.2x; You pay about $13 for each $1 of yearly profit
Price vs sales: 1.0x; Company value is 1.0 times a year of sales
Cash vs value: 35%; A big cushion: cash is a large part of what the company is worth
Debt vs value: 9%; Debt as a share of company value

From TSSI's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$35.1M-20% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $193.3M, down 27% from the 12 months before. Over 5 years, sales grew about 40% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of TSSI. Starting points are the company's recent numbers.

Sales growth-10% a yearRecently: -27% a yearProfit margin7%Last 12 months: 7.4%P/E at the end13xToday: 13.2x. Many steady companies trade at 12x to 25xShare count change+10% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$114M

Profit in 5 years$8M

Price these guesses point to$2.29-67% vs $6.89 todayAbout -20% a year, before dividends

What today's price needs: with a 7% margin and a 13x P/E, sales would have to grow about 12% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

3/7Mixed

PassReturn on equity 15%+Earns a lot on the money owners have in the business.36.1%
PassDebt under half of equityNot relying on borrowed money.0.24x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.6.2%
MissProfitable every yearSteady profits, not one good year.7 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$34.9M
MissShare count not growingNot diluting owners. Falling means buybacks.+35.7% in 3 years
MissGross margin 40%+Pricing power: sells for well above what it costs to make.13.2%

Revenue: $245.7M; +65.9% vs prior year
5-year growth: +40.4%/yr; revenue, per year
Total debt: $18.0M; 0.24x equity
Current ratio: 1.63x; short-term assets / bills due

From annual reports filed with the SEC. A checklist is a starting point for research, not a verdict.