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Thryv Holdings, Inc. (THRY) stock analysis

THRYNasdaqServices-AdvertisingFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 9, 2026Score 8/3087% below fair value
$1.04−0.02 (-2.35%)

Close on Nov 11, 2026Market cap $46.22MP/E –Yield –

StockData Score

Prices as of Nov 11, 2026How the score works

Value4Growth2Performance0Health2Dividend0

Weak8 of 30 checks passed

Thryv passes 8 of the 30 checks behind our score; 7 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
4/6
Growth
2/6
Past performance
0/6
Financial health
2/6
Dividend
0/6

What stands out

  • Margin of safety over 20%

    The price is 87.0% below fair value, more than the 20% cushion we look for.

  • Trading below fair value

    The share price of $1.04 is below our fair value estimate of $8.02.

  • Debt covered by cash flow

    Operating cash flow over the last twelve months equals 33.1% of total debt.

  • EV/EBITDA below its 5-year median

    Thryv's EV/EBITDA of 3.6 is below its 5-year median of 5.3.

What to watch

  • Return on equity under 15%

    Return on equity was -74.8% over the last twelve months and averaged -16.8% over five years; we look for 15% on both.

  • Return on capital under 10%

    Return on invested capital was 4.5%, below the 10% that usually covers the cost of capital.

  • High debt

    Debt is 166% of shareholders' equity, above the 40% we consider low.

  • Earnings shrank over 5 years

    Net income shrank 71.0% a year on average over the last five fiscal years.

Valuation4/6

  • P/E against its history

    Not enough price and earnings history to compare.

  • P/E against the industry

    Needs positive earnings and enough profitable companies in the industry.

  • EV/EBITDA below its 5-year median

    Thryv's EV/EBITDA of 3.6 is below its 5-year median of 5.3.

  • P/B below the industry

    Thryv's price-to-book of 0.41 is below the Business Services median of 0.82.

  • Trading below fair value

    The share price of $1.04 is below our fair value estimate of $8.02.

  • Margin of safety over 20%

    The price is 87.0% below fair value, more than the 20% cushion we look for.

Growth2/6

  • Revenue growing under 10% a year

    Revenue grew -13.2% a year over the last three fiscal years, short of the 10% we look for.

  • EPS growing under 10% a year

    Diluted EPS grew -81.1% a year over the last three fiscal years.

  • Earnings growth not accelerating

    Net income grew -799% over the last twelve months, against a 5-year average of -71.0% a year.

  • Growing faster than the industry

    Revenue grew 11.9% over the last twelve months; the Business Services median is 4.7%.

  • Guidance lowered

    Thryv lowered its 4th Quarter 2026 Marketing Services Revenue outlook on Aug 4, 2026.

  • Gross margin improving

    Gross margin was 67.7% over the last twelve months, against 66.3% a year earlier.

Past performance0/6

  • Return on equity under 15%

    Return on equity was -74.8% over the last twelve months and averaged -16.8% over five years; we look for 15% on both.

  • Return on capital under 10%

    Return on invested capital was 4.5%, below the 10% that usually covers the cost of capital.

  • Return on equity below the industry

    Thryv's return on equity of -74.8% is below the Business Services median of -39.2%.

  • Earnings shrank over 5 years

    Net income shrank 71.0% a year on average over the last five fiscal years.

  • Net margin below its 5-year average

    Net margin was -15.6% over the last twelve months, against a 5-year average of -4.7%.

  • Net margin below the industry

    Thryv's net margin of -15.6% is below the Business Services median of -9.4%.

Financial health2/6

  • High debt

    Debt is 166% of shareholders' equity, above the 40% we consider low.

  • Debt falling against equity

    Debt to equity fell from 269% five years ago to 166%.

  • Debt covered by cash flow

    Operating cash flow over the last twelve months equals 33.1% of total debt.

  • Interest not well covered

    Operating income covers interest expense 0.7 times; we look for at least 5.

  • Short-term assets don't cover short-term debts

    Current assets are 0.84 times current liabilities.

  • Elevated bankruptcy risk

    The Altman Z-score is -0.17; above 3 is the safe zone and below 1.8 the distress zone.

Dividend0/6

  • No dividend

    Thryv has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$8.02

The share price is 87% below this estimate.

20%+ below
Near fair value
20%+ above
$1.04Price$8.02Fair value
MethodMultiple usedOwn 5Y medianIndustry medianValue per shareWeight
EV/EBITDA7.5×5.3×9.8×$6.5558%
P/B1.5×2.2×0.8×$3.8417%
Earnings power10.6% cost of equity––$14.2525%
Fair value$8.02100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • P/E at month end
  • Own 5-year median 10.6
  • Business Services median 26.9

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

High risk

Average value traded per day
$711.31K
Value traded per 1% price move
$256.74K

Downside

High risk

Typical loss in a bad month
52.2%
Volatility (annualized)
93%
Sharpe ratio, 1 year
-0.95
Beta to the S&P 500 (5Y)
1.15

Typical bad-month loss, week by week

25%: high

Margins

Share of revenue, fiscal years 2010 to 2025

Gross margin

67.9%+7.5 pts over 5 years

Operating margin

7.2%−6.5 pts over 5 years

Net margin

0.0%−13.4 pts over 5 years

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