VALUE LINE INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data VALUE LINE INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2019	FY2019	FY2020	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	36.3		40.3		40.4	40.5	39.7	37.5	35.1	33.4
Selling and marketing	3.41		3.35		3.75	3.22	3.05	2.96	3.8	3.72
Operating expenses	30.8		31.2		32.9	29.7	28.2	28.3	29.1	29.4
Operating income	5.41		9.09		7.54	10.8	11.5	9.14	5.99	4.03
Interest income	0.2		0.28		0.14	0.02		1.93	2.13	2.06
Pre-tax income	16.3	16.3	20.7	20.7	30.3	30.6	23.8	25.2	27.5	29.4
Income tax	4.3	4.3	5.71	5.71	7	6.82	5.71	6.17	6.86	7.8
Net income	12	12	14.9	14.9	23.3	23.8	18.1	19	20.7	21.6
EBITDA	5.78		9.36		8.83	12.1	12.8	10.6	7.26	5.33
EPS, basic	1.24	1.24	1.55	1.55	2.43	2.50	1.91	2.02	2.20	2.30
EPS, diluted	1.24	1.24	1.55	1.55	2.43	2.50	1.91	2.02	2.20	2.30
Shares, basic (weighted)	9.68		9.65		9.6	9.54	9.46	9.43	9.42	9.4
Shares, diluted (weighted)	9.68		9.65		9.6	9.54	9.46	9.43	9.42	9.4

Balance sheet

	FY2019	FY2019	FY2020	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	6.49		4.95		19.2	29.7	7.59	4.39	34.1	24.2
Short-term investments	5.62	11.2	2.12	15.1	18.2	29	7.24	0	33.6	23.7
Receivables	1.5		4.44		3.99	1.68	2.12	1.31	1.33	1.04
Other current assets	1.34		1.32		1.28	1.25	1.46	1.16	1.12	1.21
Total current assets	31.4		40.5		51.2	61.3	66.1	71	79.9	89.2
Property, plant and equipment	1.15		9.5		8.31	7.06	5.79	4.44	3.48	2.24
Lease right-of-use assets			8.55		7.52	6.44	5.3	4.09	3.04	1.92
Total assets	91.8		110		121	129	131	136	145	152
Accounts payable	2.07		2.06		2.08	1.31	1.26	1.43	1.53	1.8
Deferred revenue	20		18.9		19.2	17.7	16.8	15.8	16.6	14.7
Short-term debt			0.19		2.33	0
Total current liabilities	25.4		26.8		27.9	23.8	23.3	22.3	23.7	22.8
Long-term debt			2.14
Lease liabilities			8.49		7.37	6.13	4.78	3.58	2.28	0.87
Total liabilities	44.3		56.2		54.1	49.1	47.4	45.2	44.9	44
Total debt			2.33		2.33	0
Paid-in capital	0.99		0.99		0.99	0.99	0.99	0.99	0.99	0.99
Retained earnings	48.6	50.2	57.4	57.4	72.5	87.6	96	104	113	123
Treasury stock	-4.74		-5.96		-7.48	-9.97	-14.7	-15.2	-15.6	-16.6
Other comprehensive income	1.68	0.03	0.13	0.13	0	-0.02	0.37	-0.25	-0.07	-0.1
Shareholders' equity	47.5	47.5	53.5	53.5	67	79.6	83.7	90.8	99.7	108
Total equity	47.5	47.5	53.5	53.5	67	79.6	83.7	90.8	99.7	108
Total liabilities and equity	91.8		110		121	129	131	136	145	152

Cash flow statement

	FY2019	FY2019	FY2020	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	12	12	14.9	14.9	23.3	23.8	18.1	19	20.7	21.6
Depreciation and amortization	0.37		0.27		1.29	1.34	1.35	1.41	1.27	1.3
Deferred income tax	0.74	0.74	0.15	0.15	0.54	-0.09	0.02	0.09	0.28	1.15
Change in receivables	-0.46		-2.93		0.45	2.31	-0.45	0.81	-0.02	0.29
Change in payables	0.14		-0.01		0.02	-0.76	-0.05	0.17	0.1	0.27
Cash from operations	11.5	11.5	13.7	13.7	16.4	24.6	18.2	17.9	20.2	18.6
Capital expenditures	-0.01		-0		-0.03	-0.01	-0.03	-0.02	-0.18	0
Purchases of investments	-11		-12.4		-2.6	-10.4	-38.9	-45.6	-18.1	-29.6
Sales and maturities of investments	8.35		8.66		14.9	2.5	9.91	37.1	43.5	15.3
Cash from investing	-2.97		-8.66		7.38	-3.39	-26.1	-10	21.2	-15.3
Debt issued			2.33		0	0
Share buybacks	-0.61		-1.21		-1.53	-2.48	-4.7	-0.52	-0.45	-0.93
Dividends paid	-7.36		-7.72		-8.07	-8.41	-9.47	-10.6	-11.3	-12.2
Cash from financing	-7.97		-6.63		-9.57	-10.9	-14.2	-11.1	-11.8	-13.2
Net change in cash	0.55		-1.54		14.2	10.4	-22.1	-3.2	29.7	-9.9
Free cash flow	11.5		13.7		16.4	24.6	18.1	17.9	20.1	18.6

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 31, 2026; growth uses fiscal years. Valuation uses the share price of $40.16 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	10.8%	Operating income / revenue.
EBITDA margin	14.7%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	82.6%	Pre-tax income / revenue.
Net margin	60.3%	Net income / revenue.
Operating cash flow margin	53.9%	Cash from operations / revenue.
Effective tax rate	27.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	18.2%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	13.0%	Net income / average total assets.
Return on invested capital (ROIC)	2.8%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
D&A / revenue	3.9%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-4.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-5.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-3.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-32.6%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-29.4%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-11.8%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-26.6%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-25.4%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-9.6%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	4.6%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	6.2%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-1.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	4.5%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	6.4%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-1.1%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-8.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	0.7%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	2.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-7.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	0.8%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	2.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	8.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	8.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	10.0%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	5.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	5.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	4.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	4.09x	Current assets / current liabilities.
Quick ratio	1.45x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.41x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	28.5%	Total liabilities / total assets.
Working capital	$68.3M	Current assets - current liabilities.
Tangible book value	$109.2M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.22x	Revenue / average total assets.
Fixed asset turnover	17.1x	Revenue / average property, plant and equipment.
Receivables turnover	30.1x	Revenue / average receivables.
Days sales outstanding	12 days	365 x average receivables / revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.11	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$3.51	Revenue / diluted weighted shares.
Operating cash flow per share	$1.89	Cash from operations / diluted weighted shares.
Book value per share	$11.63	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$11.63	Tangible book value / shares outstanding.
Cash per share	$3.31	(Cash + short-term investments) / shares outstanding.
Payout ratio	62.8%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$376.8M	Share price x shares outstanding.
Enterprise value	$345.7M	Market cap + total debt - cash - short-term investments.
P/E	19.0x	Market cap / net income. Only when net income is positive.
P/S	11.5x	Market cap / revenue.
P/B	3.45x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	3.45x	Market cap / tangible book value, when positive.
P/OCF	21.3x	Market cap / cash from operations, when positive.
EV/Sales	10.5x	Enterprise value / revenue.
EV/EBIT	97.1x	Enterprise value / operating income, when both are positive.
EV/EBITDA	71.3x	Enterprise value / EBITDA, when both are positive.
Earnings yield	5.3%	Net income / market cap (the inverse of P/E).
Dividend yield	3.3%	Dividends paid over the period / market cap.
Shareholder yield	3.6%	(Dividends paid + share buybacks) / market cap.
PEG	2.98x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was VALUE LINE INC's revenue in fiscal 2026?

VALUE LINE INC reported revenue of $33.4M for fiscal 2026, 4.7% lower than the year before.

Was VALUE LINE INC profitable in fiscal 2026?

Yes. Net income was $21.6M, a net margin of 64.7%.

How much free cash flow did VALUE LINE INC generate in fiscal 2026?

Cash from operations of $18.6M minus capital expenditures of $0.0 left free cash flow of $18.6M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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