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ZYBERNO

Stock Report

Updated Aug 31, 2026

MAYS J W INC (MAYS)

Real Estate • NASDAQ

$42.60

Professional Investment Analysis

ZYBERNO SCORE →

Is it a great business? Is it getting better?

23.0/100

POOR BUSINESS

MAYS J W INC (MAYS) scores 23/100 — 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 MAYS quality analysis & detailed breakdown

VALUATION SIGNAL

⚠

Business Model Limitation

MAYS J W INC operates in the Opeators of Nonresidential Buildings industry. Owner Earnings-based DCF analysis — the foundation of both the Margin of Safety and the Brina Gap — is not well-suited to companies whose business model is structurally built around leverage: banks, insurers, mortgage companies, and REITs. These businesses are typically valued using sector-specific metrics such as Price-to-Book, Price-to-FFO, or Net Asset Value. Treat these signals as directional only.

MARGIN OF SAFETY

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

-100.0%

Overvalued

Growth gap unavailable — insufficient data for reverse DCF calculation.

🎯 Expected Annual Return →

-33.1%

Margin of Safety convergence — your return if the market re-prices to intrinsic value (5-yr annualised)

2.2%

Yield + growth — what the business alone earns you, even if the market never re-rates

💰 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 MAYS valuation analysis · → View full MAYS 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 (-2.2%)

Debt-to-Equity (Solvency Risk):AVERAGE (0.95x)

Operating Margin (Operational Efficiency):CRITICAL (-7.7%)

Return on Capital (Capital Efficiency):CRITICAL (-1.7%)

📊 Valuation Trilogy

Three interconnected metrics for complete valuation analysis

Click any metric for full methodology and detailed analysis

Zyberno's Verdict

MAYS J W INC (MAYS) stock report — Zyberno Score 23/100 (POOR BUSINESS), Margin of Safety -100.0%, -33% expected annual return. Full financial analysis on Zyberno.

According to Zyberno's DCF model, MAYS J W INC (MAYS) trades at $42.60 against an estimated intrinsic value per share of $6.05 — a -100.0% Margin of Safety based on Owner Earnings of $1.12M TTM, projected at -2.1% growth for 10 years with a 2.5% terminal growth rate. Zyberno's model translates this into a 5-year expected return of -33.1% annually.

Over the trailing twelve months, MAYS generated $1.12M in Owner Earnings. Capital was deployed as follows: $2.34M invested in capital expenditures. Reinvestment rate: -47.6%. Owner Earnings have declined at 2.1% annually over the trailing five years using log-linear regression.

DIVISION I: EXECUTIVE SUMMARY

A. Market Valuation

Market Price & Capitalization (2)

Current Price:42.60

Market Cap:$85.87M

Valuation Multiples (3)

P/B Ratio:1.66x

P/S Ratio:4.01x

Peg Ratio:-999.00x

Enterprise Metrics (3)

Enterprise Value:$108.56M

Ev Ebitda Ratio:520.92x

Pfcf Ratio:276.69x

Price Action & Momentum (3)

12-1 Momentum:

-3.1% (43th pctile)

📈 Click to view full MAYS Momentum analysis →

Momentum Percentile:43 / 100

% of 52-Week High:68.7%

B. Profitability Assessment

Return Metrics (5)

ROE:

-2.2%

📊 Click to view full MAYS ROE analysis →

ROA:-1.3%

Roic:

-1.7%

📊 Click to view full MAYS ROIC analysis →

Reinvestment Rate:-47.6%

Fundamental Growth Rate (g):0.8%

Margin Analysis (3)

Operating Margin Ttm:-7.7%

Net Margin Ttm:-5.4%

Ebitda Margin:1.0%

TTM Performance (2)

Operating Margin Ttm:-7.7%

Net Margin Ttm:-5.4%

Yield Metrics (3)

Earnings Yield:-$1.40

Owner Earnings Yield:$1.36

Dividend Yield:0.0%

C. Log-Linear Regression Growth Trends

Earnings Surprise (SUE) (3)

Earnings Surprise (SUE):

-1.18

📊 Click to view full MAYS Earnings Surprise analysis →

EPS Surprise vs Expected:-5,600.0%

Latest Earnings Filed:2026-06-11

Revenue Growth (Linear) (1)

Revenue Growth Rate (Linear):-1.3%

Earnings Growth (Linear) (1)

Net Income Growth Rate (Linear):2.3%

Cash Flow Growth (Linear) (2)

Free Cash Flow Growth Rate (Linear):-7.0%

Operating Cash Flow Growth Rate (Linear):-0.2%

Operating Growth (Linear) (1)

Operating Income Growth Rate (Linear):-25.4%

D. Financial Stability

Liquidity Ratios (3)

Current Ratio:0.05x

Quick Ratio:0.05x

Cash Ratio:0.05x

Leverage Analysis (3)

Debt To Equity Ttm:0.95x

Debt-to-Equity Ratio:0.95x

Debt To Ebitda:118.98x

Coverage Ratios (1)

Times Interest Earned:-999.00

Capital Structure (4)

Working Capital:-36,408,416.00

Cash And Cash Equivalents:2,110,713.00

Long Term Debt:$24.64M

Net Debt:$22.68M

DIVISION II: FINANCIAL STATEMENTS ANALYSIS

A. Income Statement Analysis

Revenue Components (2)

Revenue TTM: $21.43M

Linear Growth: -1.3%

📊 Click to view full MAYS Revenue analysis & methodology →

Cost Of Revenue Ttm:$0.00

Profitability Breakdown (2)

$0.00

Operating income TTM: -$1.66M

Linear Growth: -25.4%

📊 Click to view full MAYS Operating Income analysis & methodology →

Bottom Line Performance (3)

Net income TTM: -$1.15M

Linear Growth: 2.3%

📊 Click to view full MAYS Net Income analysis & methodology →

Income Before Tax:-$1.64M

Ebitda Ttm:208,393.00

Operating Expenses (5)

Operating Expenses:23,092,276.00

R And D Expense:0.00

Sga Expense:5,065,007.00

Income Tax Expense:-$486.00K

Interest Expense:-18,242.00

Expense Ratios (3)

R And D To Revenue Percentage:0.0%

Sga To Revenue Percentage:95.3%

Ebitda Margin:1.0%

B. Balance Sheet Analysis

Asset Composition (5)

Total Assets:$90.22M

Current Assets:$2.11M

Ppe Net:51,317,096.00

Goodwill:0.00

Intangible Assets:$0.00

Liability Structure (4)

Total Liabilities:38,519,129.00

Current Liabilities:38,519,129.00

Long Term Debt:$24.64M

Short Term Debt:$150.09K

Equity & Capital (3)

Equity:$51.70M

Retained Earnings:$47.47M

Common Stock:2,178,297.00

Working Capital Items (3)

Accounts Receivable:3,947,460.00

Inventory:0.00

Accounts Payable:3,004,924.00

Special Items (2)

Contract Liabilities:0.00

Stock Based Compensation:0.00

C. Cash Flow Analysis

Operating Activities (2)

Operating cash flow TTM: $2.64M

Linear Growth: -23.0%

Free cash flow TTM: $296.73K

Linear Growth: -7.0%

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

Investment Activities (2)

Investing Cash Flow:-$411.35K

Capital Expenditures Ttm:2,343,528.00

Financing Activities (3)

Financing Cash Flow:-$40.53K

Dividends Paid Ttm:0.00

Stock Repurchase:0.00

Capital Transactions (3)

Common Stock Issuance:0.00

Long Term Debt Issuance:$4.87M

Long Term Debt Repayments:$40.53K

Non-Cash Items (1)

Depreciation Amortization Ttm:1,868,036.00

DIVISION III: OPERATIONAL METRICS

A. Per Share Analysis

Earnings Per Share (3)

EPS (Basic TTM):-0.57

Eps diluted TTM: -$0.57

Linear Growth: -2.9%

📊 Click to view full MAYS EPS analysis & methodology →

Earnings Per Share Ttm:-$0.57

Revenue & Cash Per Share (3)

Sales Per Share Ttm:10.63

Operating Cash Flow Per Share:$1.25

Fcf Per Share Ttm:0.15

Book Value & Capital (2)

Book Value Per Share:$25.65

Cash Per Share:1.05

Dividend Policy (1)

Dividend Payout Ratio:-999.00x

B. Operational Efficiency

Asset Utilization (2)

Asset Turnover Ttm:0.24x

Working Capital Turnover Ttm:-999.00x

Receivables Management (2)

Receivables Turnover Ttm:5.43x

Days Sales Outstanding Ttm:67.23

Inventory Management (2)

Inventory Turnover Ttm:-999.00x

Days Inventory Outstanding Ttm:-999.00

Payables & Cash Cycle (2)

Days Payable Outstanding:51.17

Cash Conversion Cycle:-982.95

C. Quality & Risk Metrics

Financial Quality Scores (2)

Financial Strength Score:40.00

Quality Score:40.00

Market Metrics (2)

Beta:0.00x

Volatility Category:unknown

DIVISION IV: INVESTMENT ANALYSIS

A. Value Investment Framework

Owner Earnings Analysis (3)

Owner earnings TTM: $1.12M

Linear Growth: -2.1%

📊 Click to view full MAYS Owner Earnings analysis & methodology →

Owner Earnings Per Share:$0.55

Owner Earnings Yield:$1.36

Growth Assessment (1)

Owner Earnings Growth Rate:-$2.06

Damodaran Growth Analysis (2)

Reinvestment Rate:-47.6%

Fundamental Growth Rate (g):0.8%

Intrinsic Value Models (1)

Intrinsic Value:

$12.20M

📊 Click to view full MAYS DCF valuation →

Margin of Safety (1)

Margin Of Safety:

-100.0%

📊 Click to view full MAYS valuation analysis →

Return Scenarios (2)

Theoretical 5-Year Return:

-33.1%

📊 Click to view full MAYS expected return analysis →

Forward Expected Return (Yield + Growth):

2.2%

📊 Click to view full MAYS expected return analysis →

Investment Assessment (1)

Buffett Assessment:Overvalued

B. Log-Linear Regression Growth Analysis

Growth Rates (Log-Linear Regression) (3)

Revenue Growth Rate (Linear):-1.3%

Net Income Growth Rate (Linear):2.3%

Operating Income Growth Rate (Linear):-25.4%

Cash Flow Growth Rates (2)

Free Cash Flow Growth Rate (Linear):-7.0%

Operating Cash Flow Growth Rate (Linear):-0.2%

Other Growth Rates (2)

Book Value Growth Rate (Linear):-0.7%

Owner Earnings Growth Rate:-$2.06

C. Company Profile & Context

Corporate Information (6)

Symbol:MAYS

Company Name:MAYS J W INC

Sector:Real Estate

Industry:Opeators of Nonresidential Buildings

Exchange:NASDAQ

Country:United States

Market Classification (3)

Market Cap Category:N/A

Price Category:medium

Volume Category:N/A

Share Structure (3)

Shares Outstanding:2.02M

Shares Outstanding Basic:2.02M

Shares Outstanding Diluted:2.02M

Data Processing Info (3)

Processing Version:v3.0

Last Updated:2026-08-31 20:13:35 UTC

Data Timestamp:2026-08-19T21:10:34.978385