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ZYBERNO

Stock Report

Updated Sep 1, 2026

PSQ Holdings, Inc. (PSQH)

NYSE

$5.46

Professional Investment Analysis

ZYBERNO SCORE →

Is it a great business? Is it getting better?

26.0/100

POOR BUSINESS

PSQ Holdings, Inc. (PSQH) scores 26/100 — 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 PSQH quality analysis & detailed breakdown

VALUATION SIGNAL

N/A (Requires more data)

Requires fair value calculation and current price data

💰 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 PSQH valuation analysis · → View full PSQH 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 (-351.4%)

Debt-to-Equity (Solvency Risk):EXCELLENT (0.15x)

Operating Margin (Operational Efficiency):CRITICAL (-69.0%)

Return on Capital (Capital Efficiency):CRITICAL (-40.8%)

📊 Valuation Trilogy

Three interconnected metrics for complete valuation analysis

Click any metric for full methodology and detailed analysis

Zyberno's Verdict

PSQ Holdings, Inc. (PSQH) stock report — Zyberno Score 26/100 (POOR BUSINESS). Full financial analysis on Zyberno.

DIVISION I: EXECUTIVE SUMMARY

A. Market Valuation

Market Price & Capitalization (2)

Current Price:5.46

Market Cap:$19.87M

Valuation Multiples (3)

P/B Ratio:4.75x

P/S Ratio:0.59x

Peg Ratio:-999.00x

Enterprise Metrics (1)

Enterprise Value:$13.66M

Price Action & Momentum (1)

% of 52-Week High:12.8%

B. Profitability Assessment

Return Metrics (5)

ROE:

-351.4%

📊 Click to view full PSQH ROE analysis →

ROA:-64.6%

Roic:

-40.8%

📊 Click to view full PSQH ROIC analysis →

Reinvestment Rate:38.1%

Fundamental Growth Rate (g):-15.6%

Margin Analysis (3)

Operating Margin Ttm:-69.0%

Net Margin Ttm:-107.1%

Ebitda Margin:-49.5%

TTM Performance (2)

Operating Margin Ttm:-69.0%

Net Margin Ttm:-107.1%

Yield Metrics (2)

Earnings Yield:-$47.40

Dividend Yield:0.0%

C. Log-Linear Regression Growth Trends

Revenue Growth (Linear) (1)

Revenue Growth Rate (Linear):94.1%

D. Financial Stability

Liquidity Ratios (3)

Current Ratio:1.47x

Quick Ratio:1.31x

Cash Ratio:0.42x

Leverage Analysis (3)

Debt To Equity Ttm:0.15x

Debt-to-Equity Ratio:0.15x

Debt To Ebitda:-999.00x

Coverage Ratios (2)

Interest Coverage Ratio:-42.23x

Times Interest Earned:-42.23

Capital Structure (4)

Working Capital:7,472,011.00

Cash And Cash Equivalents:6,735,250.00

Long Term Debt:$200.12K

Net Debt:-$6.21M

DIVISION II: FINANCIAL STATEMENTS ANALYSIS

A. Income Statement Analysis

Revenue Components (2)

Revenue TTM: $33.51M

Linear Growth: 94.1%

📊 Click to view full PSQH Revenue analysis & methodology →

Cost Of Revenue Ttm:$2.44M

Profitability Breakdown (2)

$131.60M-$23.14M

Bottom Line Performance (3)

-$35.87M

Income Before Tax:-$23.82M

Ebitda Ttm:-16,579,573.00

Operating Expenses (5)

Operating Expenses:42,816,034.00

R And D Expense:5,225,439.00

Sga Expense:24,577,118.00

Income Tax Expense:-$8.18K

Interest Expense:756,760.00

Expense Ratios (3)

R And D To Revenue Percentage:73.3%

Sga To Revenue Percentage:344.6%

Ebitda Margin:-49.5%

B. Balance Sheet Analysis

Asset Composition (5)

Total Assets:$49.23M

Current Assets:$23.33M

Ppe Net:134,676.00

Goodwill:10,930,978.00

Intangible Assets:$12.80M

Liability Structure (4)

Total Liabilities:45,042,276.00

Current Liabilities:15,856,653.00

Long Term Debt:$200.12K

Short Term Debt:$321.50K

Equity & Capital (3)

Equity:$4.19M

Retained Earnings:-$168.59M

Common Stock:0.00

Working Capital Items (3)

Accounts Receivable:1,611,793.00

Inventory:2,541,262.00

Accounts Payable:4,817,664.00

Special Items (2)

Contract Liabilities:2,053,848.00

Stock Based Compensation:1,365,556.00

C. Cash Flow Analysis

Operating Activities (2)

-$17.64M-$19.94M

Investment Activities (1)

Investing Cash Flow:-$1.36M

Financing Activities (3)

Financing Cash Flow:$1.21M

Dividends Paid Ttm:0.00

Stock Repurchase:0.00

Capital Transactions (3)

Common Stock Issuance:200,000,000.00

Long Term Debt Issuance:$0.00

Long Term Debt Repayments:$0.00

Non-Cash Items (1)

Depreciation Amortization Ttm:6,558,538.00

DIVISION III: OPERATIONAL METRICS

A. Per Share Analysis

Earnings Per Share (3)

EPS (Basic TTM):-2.19

-$2.19

Earnings Per Share Ttm:-$9.86

Revenue & Cash Per Share (2)

Sales Per Share Ttm:9.21

Operating Cash Flow Per Share:-$5.48

Book Value & Capital (2)

Book Value Per Share:$1.15

Cash Per Share:1.85

Dividend Policy (1)

Dividend Payout Ratio:-999.00x

B. Operational Efficiency

Asset Utilization (2)

Asset Turnover Ttm:0.60x

Working Capital Turnover Ttm:4.48x

Receivables Management (2)

Receivables Turnover Ttm:20.79x

Days Sales Outstanding Ttm:17.56

Inventory Management (2)

Inventory Turnover Ttm:0.96x

Days Inventory Outstanding Ttm:380.60

Payables & Cash Cycle (2)

Days Payable Outstanding:721.54

Cash Conversion Cycle:-323.38

C. Quality & Risk Metrics

Financial Quality Scores (2)

Financial Strength Score:80.00

Quality Score:35.00

Market Metrics (2)

Beta:0.00x

Volatility Category:unknown

DIVISION IV: INVESTMENT ANALYSIS

A. Value Investment Framework

Damodaran Growth Analysis (2)

Reinvestment Rate:38.1%

Fundamental Growth Rate (g):-15.6%

B. Log-Linear Regression Growth Analysis

Growth Rates (Log-Linear Regression) (1)

Revenue Growth Rate (Linear):94.1%

Other Growth Rates (1)

Book Value Growth Rate (Linear):-16.8%

C. Company Profile & Context

Corporate Information (6)

Symbol:PSQH

Company Name:PSQ Holdings, Inc.

Sector:Unknown

Industry:Services-Advertising

Exchange:NYSE

Country:United States

Market Classification (3)

Market Cap Category:N/A

Price Category:low

Volume Category:N/A

Share Structure (3)

Shares Outstanding:3.64M

Shares Outstanding Basic:3.64M

Shares Outstanding Diluted:3.64M

Data Processing Info (3)

Processing Version:v3.0

Last Updated:2026-09-01 10:37:10 UTC

Data Timestamp:2026-08-21T01:52:04.791643