A Business at a Glance
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Spok Holdings, Inc
SPOK
$224M
Mkt Cap
$10.59
+0.76%
Spok Holdings, Inc (SPOK) has a current P/E ratio of 14.1, compared to its historical median P/E of 17.2. The stock is currently considered Fair based on its historical valuation range.
Spok Holdings, Inc (SPOK) has a 5-year average return on invested capital (ROIC) of 5.2%. This is below average and may indicate limited pricing power.
Spok Holdings, Inc (SPOK) has a market capitalization of $221M. It is classified as a small-cap stock.
Yes, Spok Holdings, Inc (SPOK) pays a dividend with a trailing twelve-month yield of 12.34%.
Based on historical P/E analysis, Spok Holdings, Inc (SPOK) appears fair. The current P/E of 14.1 is 18% below its historical median of 17.2. The estimated fair value CAGR (P/E method) is 15.5%.
Spok Holdings, Inc (SPOK) operates in the Radiotelephone Communications industry, within the Communication Services sector.
Spok Holdings, Inc (SPOK) reported annual revenue of $140 million in its most recent fiscal year, based on SEC EDGAR filings.
The terms "we," "us," "our," "Company" and "Spok" refer to Spok Holdings, Inc. and its direct and indirect wholly owned subsidiaries. ITEM 1. BUSINESS Spok, Inc., a wholly owned subsidiary of Spok Holdings, Inc. (NASDAQ: SPOK), is proud to be a global leader in healthcare communications. We deliver clinical information to care teams when and where it matters most to improve patient outcomes. Top hospitals rely on Spok products and services to enhance workflows for clinicians, support administrative compliance, and provide a better experience for patients. Our headquarters is located at 3000 Technology Drive, Suite 400, Plano, Texas 75074, and our telephone number is 800-611-8488. We maintain a website at http://www.spok.com. This website address is for information only and is not intended to be an active link or to incorporate any website information into this Annual Report on Form 10-K for the year ended December 31, 2025 (the "2025 Form 10-K").
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 137M | 140M | 138M | 139M | 135M | 142M |
| Net Income | 13M | 16M | 15M | 16M | 22M | -22M |
| EPS | $0.61 | $0.75 | $0.73 | $0.77 | $1.09 | $-1.14 |
| Free Cash Flow | 26M | 25M | 26M | 23M | 2.7M | 3.6M |
| ROIC | 9.3% | 11.5% | 10.6% | 10.7% | - | -11.9% |
| Gross Margin | - | 78.7% | 79.1% | 46.9% | 79.0% | 77.2% |
| Debt/Equity | 0.00 | 0.05 | 0.06 | 0.07 | 0.09 | 0.10 |
| Dividends/Share | $1.31 | $1.25 | $1.25 | $1.25 | $1.25 | $0.50 |
| Operating Income | 16M | 20M | 19M | 21M | - | -28M |
| Operating Margin | 11.8% | 14.1% | 13.8% | 15.3% | - | -19.5% |
| ROE | 9.0% | 10.5% | 9.4% | 9.4% | 12.7% | -11.9% |
| Shares Outstanding | 21M | 21M | 21M | 20M | 20M | 19M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 200M | 190M | 180M | 171M | 169M | 160M | 148M | 142M | 135M | 139M | 138M | 140M | 137M |
| Gross Margin | 47.0% | 46.8% | 48.4% | 50.1% | 48.5% | 79.7% | 79.1% | 77.2% | 79.0% | 46.9% | 79.1% | 78.7% | N/A |
| R&D | 9.5M | 10M | 13M | 19M | 24M | 28M | 16M | 18M | 14M | 11M | 12M | 12M | 13M |
| SG&A | 46M | 45M | 43M | 47M | 49M | 43M | 40M | 44M | 38M | 31M | 31M | 32M | 31M |
| EBIT | 28M | 25M | 22M | 11M | -3.2M | -16M | -23M | -28M | N/A | 21M | 19M | 20M | 16M |
| Op. Margin | 14.1% | 13.2% | 12.3% | 6.3% | -1.9% | -9.9% | -15.3% | -19.5% | N/A | 15.3% | 13.8% | 14.1% | 11.8% |
| Net Income | 21M | 80M | 14M | -15M | -1.5M | -11M | -44M | -22M | 22M | 16M | 15M | 16M | 13M |
| Net Margin | 10.4% | 42.3% | 7.8% | -8.9% | -0.9% | -6.7% | -29.8% | -15.6% | 16.2% | 11.3% | 10.9% | 11.4% | 9.3% |
| Non-Recurring | 1.5M | 3.5M | 1.4M | 6K | 0 | 8.9M | 26M | 320K | 7.3M | 573K | 1.1M | 458K | 723K |
| Returns on Capital | |||||||||||||
| ROIC | 9.9% | 26.4% | 6.5% | 3.4% | -0.5% | -4.1% | -19.7% | -11.9% | N/A | 10.7% | 10.6% | 11.5% | 9.3% |
| ROE | 7.6% | 26.4% | 4.3% | -5.0% | -0.5% | -4.1% | -19.7% | -11.9% | 12.7% | 9.4% | 9.4% | 10.5% | 9.0% |
| ROA | 6.2% | 22.2% | 3.6% | -4.2% | -0.4% | -3.3% | -14.8% | -8.4% | 8.9% | 6.6% | 6.7% | 7.5% | 6.5% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 42M | 42M | 38M | 16M | 10M | 12M | 26M | 8.0M | 6.5M | 26M | 29M | 29M | 29M |
| Free Cash Flow | 34M | 36M | 31M | 6.3M | 4.4M | 6.9M | 23M | 3.6M | 2.7M | 23M | 26M | 25M | 26M |
| Owner Earnings | 28M | 31M | 29M | 3.7M | -4.9M | -647K | 13M | -3.7M | -87M | -66M | 20M | -61M | -60M |
| CapEx | 7.6M | 5.6M | 6.3M | 9.2M | 5.9M | 4.8M | 3.5M | 4.4M | 3.8M | 3.4M | 3.2M | 3.8M | 3.6M |
| Maint. CapEx | 10M | 8.6M | 8.2M | 8.2M | 10M | 8.7M | 7.5M | 4.5M | 90M | 88M | 4.1M | 85M | 83M |
| Growth CapEx | 0 | 0 | 0 | 1.0M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 10M | 8.6M | 8.2M | 8.2M | 10M | 8.7M | 7.5M | 4.5M | 90M | 88M | 4.1M | 85M | 83M |
| CapEx/OCF | 18.3% | 13.3% | 16.7% | 59.4% | 57.3% | 41.4% | 13.2% | 55.1% | 58.5% | 13.0% | 11.1% | 13.0% | 12.4% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 11M | 14M | 10M | 15M | 10M | 9.8M | 9.8M | 10M | 25M | 26M | 26M | 27M | 27M |
| Dividend Yield | 6.5% | 7.7% | 5.4% | 7.8% | 6.4% | 6.5% | 8.2% | 7.8% | 22.3% | 12.2% | 9.3% | 8.3% | 12.3% |
| Share Buybacks | 4.3M | 15M | 6.5M | 10M | 13M | 6.6M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 2.2% | 7.6% | 2.8% | 5.6% | 9.5% | 4.7% | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 3.8M | 1.9M | 854K | 3.7M | 5.0M | 3.6M | 5.5M | 7.2M | 3.8M | 4.1M | 5.0M | 5.0M | 5.2M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -68M | -109M | N/A | N/A | N/A | -60M | -64M | -42M | -20M | -21M | -20M | -18M | -17M |
| Cash & Equiv. | 108M | 109M | 122M | 103M | 83M | 47M | 49M | 45M | 36M | 32M | 29M | 25M | 17M |
| Long-Term Debt | 0 | 0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | 0.14 | 0.00 | 0.20 | 0.20 | 0.19 | 0.07 | 0.07 | 0.10 | 0.09 | 0.07 | 0.06 | 0.05 | 0.00 |
| Interest Coverage | 61.7 | 1568.8 | 80.6 | 14.9 | -1.9 | -9.6 | -33.0 | -86.6 | N/A | 19.3 | N/A | N/A | N/A |
| Equity | 279M | 330M | 322M | 291M | 275M | 250M | 200M | 173M | 171M | 164M | 155M | 146M | 141M |
| Total Assets | 338M | 386M | 388M | 348M | 328M | 320M | 277M | 248M | 244M | 228M | 217M | 206M | 194M |
| Total Liabilities | 59M | 57M | 66M | 57M | 53M | 70M | 77M | 74M | 73M | 64M | 62M | 60M | 53M |
| Intangibles | 20M | 15M | 11M | 7.9M | 5.4M | 2.9M | 417K | 0 | 0 | 0 | N/A | N/A | N/A |
| Retained Earnings | 152M | 219M | 217M | 192M | 185M | 165M | 110M | 78M | 73M | 63M | 51M | 40M | 35M |
| Working Capital | 93M | 94M | 100M | 96M | 86M | 66M | 61M | 39M | 16M | 16M | 13M | 8.8M | 3.8M |
| Current Assets | 143M | 142M | 156M | 144M | 131M | 118M | 119M | 94M | 70M | 64M | 61M | 58M | 47M |
| Current Liabilities | 50M | 47M | 56M | 48M | 45M | 51M | 57M | 55M | 54M | 48M | 49M | 49M | 43M |
| Per Share Data | |||||||||||||
| EPS | 0.94 | 3.98 | 0.68 | -0.76 | -0.08 | -0.56 | -2.32 | -1.14 | 1.09 | 0.77 | 0.73 | 0.75 | 0.61 |
| Owner EPS | 1.25 | 1.56 | 1.39 | 0.18 | -0.26 | -0.03 | 0.69 | -0.19 | -4.35 | -3.24 | 0.97 | -2.90 | -2.85 |
| Book Value | 12.64 | 16.35 | 15.67 | 14.43 | 14.85 | 13.01 | 10.47 | 8.88 | 8.53 | 8.05 | 7.55 | 6.91 | 6.75 |
| Cash Flow/Share | 1.88 | 2.08 | 1.83 | 0.77 | 0.56 | 0.61 | 1.37 | 0.41 | 0.32 | 1.29 | 1.41 | 1.37 | 4.61 |
| Dividends/Share | 0.50 | 0.63 | 0.75 | 0.76 | 0.50 | 0.50 | 0.50 | 0.50 | 1.25 | 1.25 | 1.25 | 1.25 | 1.31 |
| Shares Out. | 22.1M | 20.2M | 20.6M | 20.1M | 18.5M | 19.2M | 19.1M | 19.5M | 20.1M | 20.3M | 20.5M | 21.2M | 20.9M |
| Valuation | |||||||||||||
| P/E Ratio | 9.4 | 2.5 | 16.5 | N/A | N/A | N/A | N/A | N/A | 5.7 | 17.2 | 20.5 | 17.3 | 17.3 |
| P/FCF | 5.8 | 5.4 | 7.4 | 28.4 | 32.2 | 20.3 | 5.9 | 32.4 | 46.7 | 11.8 | 11.9 | 10.9 | 8.7 |
| EV/EBIT | 4.5 | 3.5 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 12.6 |
| Price/Book | 0.7 | 0.6 | 0.7 | 0.6 | 0.5 | 0.6 | 0.7 | 0.7 | 0.7 | 1.6 | 2.0 | 1.9 | 1.6 |
| Price/Sales | 0.8 | 1.0 | 1.1 | 1.1 | 0.9 | 0.9 | 0.8 | 0.9 | 0.8 | 1.5 | 2.1 | 2.3 | 1.6 |
| FCF Yield | 17.3% | 18.4% | 13.5% | 3.5% | 3.1% | 4.9% | 17.0% | 3.1% | 2.1% | 8.5% | 8.4% | 9.2% | 11.5% |
| Market Cap | 196M | 198M | 231M | 179M | 142M | 139M | 134M | 116M | 125M | 269M | 307M | 274M | 221M |
| Avg. Price | 7.52 | 8.98 | 9.34 | 9.66 | 8.45 | 7.82 | 6.28 | 6.59 | 5.60 | 10.30 | 13.84 | 15.42 | 10.59 |
| Year-End Price | 8.87 | 9.80 | 11.25 | 8.88 | 7.67 | 7.24 | 7.01 | 5.96 | 6.24 | 13.22 | 14.98 | 12.96 | 10.59 |
Spok Holdings, Inc passes 6 of 9 quality checks, suggesting mixed fundamentals.
Spok Holdings, Inc trades at 14.1x trailing earnings, compared to its 15-year median P/E of 17.2x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 8.7x vs a median of 16.1x. The company's 5-year average ROIC is 5.2% with a gross margin of 72.2%. Total shareholder yield (dividends) is 12.3%. At current prices, the estimated annualized return to fair value is +17.8%.
Spok Holdings, Inc (SPOK) has a net profit margin of 11.4%. This is a healthy margin.
Spok Holdings, Inc (SPOK) generated $25 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Spok Holdings, Inc (SPOK) has a debt-to-equity ratio of 0.05. This indicates a conservatively financed balance sheet.
Spok Holdings, Inc (SPOK) reported earnings per share (EPS) of $0.75 in its most recent fiscal year.
Spok Holdings, Inc (SPOK) has a return on equity (ROE) of 10.5%. This indicates moderate shareholder returns.
Spok Holdings, Inc (SPOK) has a 5-year average gross margin of 72.2%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 17 years of financial data for Spok Holdings, Inc (SPOK), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Spok Holdings, Inc (SPOK) has a book value per share of $6.91, based on its most recent annual SEC filing.