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ZYBERNO

Stock Report

Updated Sep 1, 2026

Katapult Holdings, Inc. (KPLT)

NASDAQ

$5.41

Professional Investment Analysis

ZYBERNO SCORE →

Is it a great business? Is it getting better?

20.0/100

POOR BUSINESS

Katapult Holdings, Inc. (KPLT) scores 20/100 — concerning metrics indicating significant structural or financial risks.

📊 How is the Zyberno Score calculated? +

The Zyberno Score answers one question: "Is this a quality business worth owning?" It's a 0-100 investment grade that evaluates business fundamentals across four critical dimensions, based on principles from Warren Buffett, Benjamin Graham, Peter Lynch, and Charlie Munger.

The 4 Core Categories (25 points each):

1. PROFITABILITY (25 pts)

Metrics: ROE, ROIC, Net Margin, Operating Margin
Thresholds: ROE >20% excellent • ROIC >20% excellent • Net Margin >20% excellent • Operating Margin >25% excellent

2. FINANCIAL STRENGTH (25 pts)

Metrics: Debt-to-Equity, Current Ratio, Interest Coverage, Altman Z-Score
Thresholds: D/E <0.3 excellent • Current Ratio >2.5 excellent • Interest Coverage >10x excellent • Altman Z >3.0 safe

3. CASH FLOW QUALITY (25 pts)

Metrics: Free Cash Flow, OCF vs Net Income, FCF Margin
Thresholds: Positive & growing FCF excellent • OCF/NI >1.2x excellent (cash earnings exceed accounting)

4. GROWTH & CONSISTENCY (25 pts)

Metrics: Revenue Growth, Net Income Growth, FCF Growth, Piotroski F-Score
Thresholds: Growth via log-linear regression • Piotroski 8-9 excellent, 6-7 good

Score Interpretation:

75-100

GREAT BUSINESS

65-74

GOOD BUSINESS

50-64

AVERAGE BUSINESS

30-49

WEAK BUSINESS

0-29

POOR BUSINESS

→ View full KPLT quality analysis & detailed breakdown

VALUATION SIGNAL

MARGIN OF SAFETY

Is this stock cheap or expensive relative to what the business has historically generated for owners?

Margin of Safety unavailable — insufficient data for the owner-earnings DCF.

BRINA GAP ↗

Is the market underestimating or overestimating what this business is capable of going forward?

-190.4%

Market Overestimates

💰 How is Margin of Safety calculated? +

Margin of Safety measures how much discount or premium you're paying relative to a stock's intrinsic value. It's Benjamin Graham's core principle: the larger the margin, the lower your downside risk.

Formula: (Intrinsic Value − Current Price) ÷ Intrinsic Value × 100%

How We Calculate Intrinsic Value (DCF Method):

Step 1: Calculate current Owner Earnings (OCF − Maintenance CapEx)

Step 2: Calculate company-specific growth rate using log-linear regression on 16 quarters of Owner Earnings

Step 3: Project 10 years forward using the calculated growth rate

Step 4: Discount each year's cash flow to present value using 10% discount rate

Step 5: Calculate terminal value using 3% perpetual growth rate

Step 6: Sum all discounted cash flows = Intrinsic Value

What The Percentages Mean:

+50% or more

EXCELLENT — Very undervalued

+25% to +50%

GOOD — Attractive discount

0% to +25%

FAIR — Reasonable value

0% to -25%

CAUTION — Slight premium

-25% or worse

POOR — Overvalued

"Price is what you pay, value is what you get." — Warren Buffett

→ View full KPLT valuation analysis · → View full KPLT Brina Gap analysis

📈 How is Brina Gap calculated? +

Brina Gap measures the difference between the growth a business can fundamentally sustain and the growth the market is already pricing in.

Formula: Fundamental Growth Rate − Market-Implied Growth Rate

The Two Components:

Fundamental Growth Rate = ROIC × Reinvestment Rate

What the business can sustainably grow at based on how much it reinvests and what return it earns on that capital. Grounded in historical financials.

Market-Implied Growth Rate = Reverse DCF

The growth rate the current Enterprise Value implicitly assumes. Calculated by back-solving a 10-year DCF model (10% WACC, 3% terminal growth) until the present value of projected cash flows equals EV.

What The Gap Means:

Gap > +5% Market Underestimates — potential upside

+2% to +5% Slight Underestimate

-2% to +2% Fairly Priced — market consensus matches fundamentals

-5% to -2% Slight Overestimate

Gap < -5% Market Overestimates — price embeds optimism fundamentals don't support

A positive gap (market underestimates) combined with a positive Margin of Safety is the strongest combined signal — the business is both cheap historically and forward economics are stronger than the price suggests.

Critical Financial Health Indicators

Return on Equity (Profitability):CRITICAL (0.0%)

Debt-to-Equity (Solvency Risk):EXCELLENT (0.00x)

Operating Margin (Operational Efficiency):CRITICAL (1.3%)

Return on Capital (Capital Efficiency):CRITICAL (3.4%)

📊 Valuation Trilogy

Three interconnected metrics for complete valuation analysis

Click any metric for full methodology and detailed analysis

Zyberno's Verdict

Katapult Holdings, Inc. (KPLT) stock report — Zyberno Score 20/100 (POOR BUSINESS). Full financial analysis on Zyberno.

According to Zyberno's DCF model, Katapult Holdings, Inc. (KPLT) shows a Brina Gap of -190.4%, which weakens the case: based on the company's ROIC (3.4%) and reinvestment rate (-5,705.6%), the business can fundamentally grow at -195.7% — but the current enterprise value implies the market expects -5.3%.

Over the trailing twelve months, KPLT generated -$3.18M in Owner Earnings. Capital was deployed as follows: $18.00K invested in capital expenditures. Reinvestment rate: -5,705.6%.

DIVISION I: EXECUTIVE SUMMARY

A. Market Valuation

Market Price & Capitalization (2)

Current Price:5.41

Market Cap:$29.71M

Valuation Multiples (2)

P/S Ratio:0.10x

Peg Ratio:-999.00x

Enterprise Metrics (2)

Enterprise Value:$12.08M

Ev Ebitda Ratio:0.07x

Price Action & Momentum (3)

12-1 Momentum:

-62.0% (24th pctile)

📈 Click to view full KPLT Momentum analysis →

Momentum Percentile:24 / 100

% of 52-Week High:22.2%

B. Profitability Assessment

Return Metrics (6)

ROA:16.2%

Roic:

3.4%

📊 Click to view full KPLT ROIC analysis →

Reinvestment Rate:-5,705.6%

Fundamental Growth Rate (g):-195.7%

Market-Implied Growth Rate:-5.3%

Brina Gap:

-190.4%

☷ Click to view full KPLT Brina Gap analysis →

Margin Analysis (3)

Operating Margin Ttm:1.3%

Net Margin Ttm:5.4%

Ebitda Margin:56.2%

TTM Performance (3)

Gross Margin Ttm:18.5%

Operating Margin Ttm:1.3%

Net Margin Ttm:5.4%

Yield Metrics (2)

Earnings Yield:-$19.57

Dividend Yield:0.0%

C. Log-Linear Regression Growth Trends

Earnings Surprise (SUE) (3)

Earnings Surprise (SUE):

+0.14

📊 Click to view full KPLT Earnings Surprise analysis →

EPS Surprise vs Expected:18.1%

Latest Earnings Filed:2026-08-04

Revenue Growth (Linear) (1)

Revenue Growth Rate (Linear):13.2%

Cash Flow Growth (Linear) (2)

Free Cash Flow Growth Rate (Linear):100.0%

Operating Cash Flow Growth Rate (Linear):100.0%

D. Financial Stability

Liquidity Ratios (3)

Current Ratio:0.90x

Quick Ratio:0.90x

Cash Ratio:0.16x

Leverage Analysis (1)

Debt To Ebitda:0.00x

Coverage Ratios (2)

Interest Coverage Ratio:-0.03x

Times Interest Earned:-0.03

Capital Structure (4)

Working Capital:-11,000,000.00

Cash And Cash Equivalents:18,046,000.00

Long Term Debt:$362.00K

Net Debt:-$17.63M

DIVISION II: FINANCIAL STATEMENTS ANALYSIS

A. Income Statement Analysis

Revenue Components (2)

Revenue TTM: $301.71M

Linear Growth: 13.2%

📊 Click to view full KPLT Revenue analysis & methodology →

Cost Of Revenue Ttm:$245.92M

Profitability Breakdown (2)

Gross profit TTM: $55.79M

Linear Growth: 7.7%

📊 Click to view full KPLT Gross Profit analysis & methodology →

$3.84M

Bottom Line Performance (3)

$16.19M

Income Before Tax:$16.44M

Ebitda Ttm:169,419,000.00

Operating Expenses (5)

Operating Expenses:51,954,000.00

R And D Expense:0.00

Sga Expense:10,938,000.00

Income Tax Expense:$258.00K

Interest Expense:16,359,000.00

Expense Ratios (3)

R And D To Revenue Percentage:0.0%

Sga To Revenue Percentage:14.6%

Ebitda Margin:56.2%

B. Balance Sheet Analysis

Asset Composition (5)

Total Assets:$101.99M

Current Assets:$98.76M

Ppe Net:0.00

Goodwill:0.00

Intangible Assets:$1.13M

Liability Structure (4)

Total Liabilities:138,027,000.00

Current Liabilities:109,756,000.00

Long Term Debt:$362.00K

Short Term Debt:$56.00K

Equity & Capital (3)

Equity:-$36.04M

Retained Earnings:-$145.79M

Common Stock:250,000,000.00

Working Capital Items (3)

Accounts Receivable:0.00

Inventory:0.00

Accounts Payable:15,672,000.00

Special Items (2)

Contract Liabilities:5,488,000.00

Stock Based Compensation:300,000.00

C. Cash Flow Analysis

Operating Activities (2)

Operating cash flow TTM: -$3.16M

Linear Growth: 100.0%

Free cash flow TTM: -$3.18M

Linear Growth: 100.0%

📊 Click to view full KPLT Free Cash Flow analysis & methodology →

Investment Activities (2)

Investing Cash Flow:-$384.00K

Capital Expenditures Ttm:18,000.00

Financing Activities (3)

Financing Cash Flow:-$7.19M

Dividends Paid Ttm:0.00

Stock Repurchase:0.00

Capital Transactions (3)

Common Stock Issuance:0.00

Long Term Debt Issuance:$0.00

Long Term Debt Repayments:$0.00

Non-Cash Items (1)

Depreciation Amortization Ttm:165,580,000.00

DIVISION III: OPERATIONAL METRICS

A. Per Share Analysis

Earnings Per Share (3)

EPS (Basic TTM):-1.45

-$1.45

Earnings Per Share Ttm:$2.95

Revenue & Cash Per Share (2)

Sales Per Share Ttm:54.95

Operating Cash Flow Per Share:-$2.17

Book Value & Capital (2)

Book Value Per Share:-$6.56

Cash Per Share:3.29

Dividend Policy (1)

Dividend Payout Ratio:0.00x

B. Operational Efficiency

Asset Utilization (2)

Asset Turnover Ttm:3.02x

Working Capital Turnover Ttm:-999.00x

Receivables Management (2)

Receivables Turnover Ttm:-999.00x

Days Sales Outstanding Ttm:-999.00

Inventory Management (2)

Inventory Turnover Ttm:-999.00x

Days Inventory Outstanding Ttm:-999.00

Payables & Cash Cycle (2)

Days Payable Outstanding:23.26

Cash Conversion Cycle:-2,021.26

C. Quality & Risk Metrics

Financial Quality Scores (2)

Financial Strength Score:20.00

Quality Score:20.00

Market Metrics (2)

Beta:0.00x

Volatility Category:unknown

DIVISION IV: INVESTMENT ANALYSIS

A. Value Investment Framework

Owner Earnings Analysis (1)

-$3.18M

Damodaran Growth Analysis (4)

Reinvestment Rate:-5,705.6%

Fundamental Growth Rate (g):-195.7%

Market-Implied Growth Rate:-5.3%

Brina Gap:

-190.4%

☷ Click to view full KPLT Brina Gap analysis →

B. Log-Linear Regression Growth Analysis

Growth Rates (Log-Linear Regression) (1)

Revenue Growth Rate (Linear):13.2%

Cash Flow Growth Rates (2)

Free Cash Flow Growth Rate (Linear):100.0%

Operating Cash Flow Growth Rate (Linear):100.0%

Other Growth Rates (2)

Gross Profit Growth Rate (Linear):7.7%

Book Value Growth Rate (Linear):-50.0%

C. Company Profile & Context

Corporate Information (6)

Symbol:KPLT

Company Name:Katapult Holdings, Inc.

Sector:Unknown

Industry:Services-Equipment Rental & Leasing, NEC

Exchange:NASDAQ

Country:United States

Market Classification (3)

Market Cap Category:N/A

Price Category:low

Volume Category:N/A

Share Structure (3)

Shares Outstanding:5.49M

Shares Outstanding Basic:5.49M

Shares Outstanding Diluted:5.49M

Data Processing Info (3)

Processing Version:v3.0

Last Updated:2026-09-01 08:05:37 UTC

Data Timestamp:2026-08-20T20:46:01.658939