Deep Value: cash covers more than 100% of the stock price

This company holds roughly $17M in cash and investments — more than its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

PSQ Holdings

PSQH

Software - Application · Technology

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Good

Cash Flow

Weak

Stability

Weak

Valuation

Data not available

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Winston Score History

The full picture

PSQ Holdings runs PublicSq, an online marketplace and app that connects consumers with businesses that share conservative and faith-based values. The platform lets shoppers find local and national businesses — from food and health products to professional services — that align with those principles. It also owns Credova, a buy-now-pay-later financing service used mostly by firearms and outdoor retailers.

The company makes money through business membership fees, advertising on its platform, and financing fees from Credova's lending products. It operates primarily in the United States and remains a small company with a market cap near zero, meaning it is very early-stage. Its main competitive edge is its niche community of value-aligned consumers and merchants, but the biggest risk is that it continues to spend far more money than it earns — its operating margin of negative 117% shows the business is burning through cash quickly and has not yet found a clear path to profitability.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+0.7% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+43.0% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

24.1%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Runway

~11 months

$17M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Cash watch

PSQ Holdings has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

33.9%

Modest — 33.9% gross margin

Profit after running costs

Operating Margin

-67.2%

Losing money on operations — -67.2%

Return on the money invested

ROCE

-70.4%

Weak — -70.4% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+11.5%

Steady sales growth (+11.5% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-76.3%

Burning cash (-76.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

8.63

Heavy debt load (8.63)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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