A Business at a Glance
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Thryv Holdings, Inc.
THRY
$117M
Mkt Cap
$3.82
+1.87%
Thryv Holdings, Inc. (THRY) has a current P/E ratio of 382.0, compared to its historical median P/E of 13.6. The stock is currently considered Expensive based on its historical valuation range.
Thryv Holdings, Inc. (THRY) has a 5-year average return on invested capital (ROIC) of -5.8%. This is below average and may indicate limited pricing power.
Thryv Holdings, Inc. (THRY) has a market capitalization of $169M. It is classified as a small-cap stock.
Thryv Holdings, Inc. (THRY) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 2.95%.
Based on historical P/E analysis, Thryv Holdings, Inc. (THRY) appears expensive. The current P/E of 382.0 is 2714% above its historical median of 13.6. The estimated fair value CAGR (P/E method) is -46.8%.
Thryv Holdings, Inc. (THRY) operates in the Services-Advertising industry, within the Industrials sector.
Thryv Holdings, Inc. (THRY) reported annual revenue of $785 million in its most recent fiscal year, based on SEC EDGAR filings.
Thryv is a software-led platform company focused on enabling small and medium-sized businesses (“SMBs”) to run and grow their businesses more efficiently with artificial intelligence (“AI”) tools and automations. Our strategy is centered on delivering a unified, extensible SaaS platform that supports customer acquisition, engagement, operations, and retention across the SMB lifecycle. As of December 31, 2025, we serve approximately 230,000 SMB clients through our two business segments: SaaS and Marketing Services. SaaS represents the strategic growth engine of the Company. Marketing Services is our legacy segment that we are actively managing and exiting as part of a multi-year transition to a pure SaaS business model. Our SaaS platform (or “Thryv Platform”) is designed for active daily use by business owners and operators.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 771M | 785M | 824M | 917M | 1.2B | 1.1B |
| Net Income | 14M | 307K | -74M | -259M | 54M | 102M |
| EPS | $0.33 | $0.01 | $-2.00 | $-7.47 | $1.49 | $2.78 |
| Free Cash Flow | 43M | 31M | 56M | 115M | 119M | 144M |
| ROIC | 6.5% | 7.0% | -16.5% | -42.7% | 6.6% | 16.8% |
| Gross Margin | 67.8% | 67.9% | 65.2% | 63.1% | 64.9% | 63.4% |
| Debt/Equity | 1.28 | 1.29 | 1.57 | 2.60 | 1.37 | 1.91 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 64M | 57M | -33M | -200M | 99M | 190M |
| Operating Margin | 8.3% | 7.2% | -4.0% | -21.8% | 8.3% | 17.1% |
| ROE | 6.4% | 0.1% | -42.5% | -96.9% | 15.6% | 39.7% |
| Shares Outstanding | 44M | 31M | 37M | 35M | 36M | 37M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 1.5B | 1.3B | 1.4B | 1.8B | 1.8B | 1.4B | 1.1B | 1.1B | 1.2B | 917M | 824M | 785M | 771M |
| Gross Margin | 75.5% | 72.0% | 66.8% | 68.3% | 63.7% | 59.1% | 60.4% | 63.4% | 64.9% | 63.1% | 65.2% | 67.9% | 67.8% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 13M | 16M | 39M | 39M |
| SG&A | 162M | 118M | 209M | 164M | 239M | 197M | 178M | 154M | 216M | 209M | 217M | 211M | 205M |
| EBIT | -430M | 103M | -850M | -2.0M | 162M | 206M | 152M | 190M | 99M | -200M | -33M | 57M | 64M |
| Op. Margin | -29.0% | 8.1% | -58.9% | -0.1% | 9.1% | 14.5% | 13.7% | 17.1% | 8.3% | -21.8% | -4.0% | 7.2% | 8.3% |
| Net Income | -519M | 41M | -819M | -371M | 52M | 36M | 149M | 102M | 54M | -259M | -74M | 307K | 14M |
| Net Margin | -35.0% | 3.2% | -56.7% | -20.4% | 2.9% | 2.5% | 13.5% | 9.1% | 4.5% | -28.3% | -9.0% | 0.0% | 1.9% |
| Non-Recurring | 13M | 5.0M | 106M | 56M | 76M | 40M | -3.5M | 11M | 107M | 274M | 88M | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | -134.6% | 9.7% | -89.1% | -0.1% | 63.2% | 16.5% | 18.2% | 16.8% | 6.6% | -42.7% | -16.5% | 7.0% | 6.5% |
| ROE | -201.2% | 205.0% | 239.8% | 40.7% | N/A | 15.6% | 133.2% | 39.7% | 15.6% | -96.9% | -42.5% | 0.1% | 6.4% |
| ROA | -277.5% | 3.2% | -33.6% | -17.7% | 29.2% | 4.4% | 11.5% | 8.1% | 4.4% | -26.4% | -9.9% | 0.0% | 2.1% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 413M | 349M | 360M | 388M | 347M | 271M | 233M | 171M | 149M | 148M | 90M | 64M | 75M |
| Free Cash Flow | 385M | 326M | 336M | 370M | 320M | 245M | 205M | 144M | 119M | 115M | 56M | 31M | 43M |
| Owner Earnings | 156M | -75M | -409M | -259M | 40M | 50M | 83M | 67M | 5.1M | -30M | 13M | -1.2M | 16M |
| CapEx | 28M | 23M | 24M | 18M | 27M | 26M | 28M | 27M | 29M | 33M | 34M | 32M | 32M |
| Maint. CapEx | 252M | 419M | 765M | 643M | 267M | 206M | 147M | 96M | 129M | 156M | 53M | 39M | 37M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 252M | 419M | 765M | 643M | 267M | 206M | 147M | 96M | 129M | 156M | 53M | 39M | 37M |
| CapEx/OCF | N/A | N/A | N/A | N/A | 7.9% | 9.6% | 11.9% | 15.7% | 19.7% | 22.5% | 37.4% | 51.0% | 42.7% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 438M | 31M | 0 | 0 | 0 | 499K | 5.0M | 5.0M |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | 11.8% | 7.8% | N/A | N/A | N/A | 0.1% | 2.7% | 3.0% |
| Stock-Based Comp | 5.0M | 5.0M | 4.0M | 4.0M | 40M | 14M | 2.9M | 8.1M | 15M | 22M | 24M | 25M | 22M |
| Debt Repayment | 255M | 401M | 505M | 367M | 1.8B | 1.2B | 1.2B | 1.1B | 962M | 926M | 5.5M | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -3.0M | 1.8B | 2.5B | 2.2B | 347M | 856M | 630M | 591M | 508M | 380M | 292M | 271M | 280M |
| Cash & Equiv. | 258M | 172M | 156M | 171M | 34M | 1.9M | 2.4M | 11M | 16M | 18M | 16M | 11M | 8.0M |
| Long-Term Debt | 255M | 0 | 2.5B | 2.3B | 382M | 714M | 528M | 492M | 400M | 279M | 271M | 236M | 232M |
| Debt/Equity | -25.50 | 100.50 | -3.81 | -2.14 | N/A | 31.47 | 3.22 | 1.91 | 1.37 | 2.60 | 1.57 | 1.29 | 1.28 |
| Interest Coverage | -1.9 | 0.5 | -2.7 | -0.0 | 2.0 | 2.2 | 2.2 | 2.9 | 1.6 | -3.2 | -0.7 | 1.6 | 1.6 |
| Equity | -10M | 20M | -703M | -1.1B | N/A | 27M | 197M | 315M | 382M | 153M | 197M | 218M | 225M |
| Total Assets | 187M | 2.4B | 2.5B | 1.7B | 221M | 1.4B | 1.2B | 1.3B | 1.2B | 783M | 712M | 689M | 694M |
| Total Liabilities | 197M | 2.4B | 3.2B | 2.8B | N/A | 1.4B | 1.0B | 986M | 796M | 630M | 515M | 470M | -32M |
| Intangibles | N/A | 1.8B | 1.4B | 794M | N/A | 147M | 32M | 83M | 35M | 19M | 34M | 26M | 24M |
| Retained Earnings | N/A | -1.4B | -2.2B | -2.6B | N/A | -544M | -395M | -293M | -239M | -498M | -572M | -572M | -568M |
| Working Capital | N/A | -1.8B | 143M | 93M | N/A | 221M | 162M | 64M | 78M | 3.7M | 14M | -736K | 37M |
| Current Assets | N/A | 453M | 609M | 497M | N/A | 479M | 370M | 371M | 378M | 267M | 211M | 179M | 201M |
| Current Liabilities | N/A | 2.2B | 466M | 404M | N/A | 257M | 207M | 307M | 300M | 263M | 196M | 180M | 163M |
| Per Share Data | |||||||||||||
| EPS | -25.88 | 2.05 | -27.45 | -10.72 | 0.44 | 0.41 | 4.42 | 2.78 | 1.49 | -7.47 | -2.00 | 0.01 | 0.33 |
| Owner EPS | 7.78 | -3.74 | -13.71 | -7.48 | 0.34 | 0.58 | 2.47 | 1.82 | 0.14 | -0.87 | 0.35 | -0.04 | 0.36 |
| Book Value | -0.50 | 1.00 | -23.56 | -32.40 | N/A | 0.31 | 5.83 | 8.61 | 10.48 | 4.40 | 5.31 | 7.11 | 5.08 |
| Cash Flow/Share | 20.59 | 17.41 | 12.06 | 11.21 | 2.92 | 3.12 | 6.89 | 4.67 | 4.07 | 4.27 | 2.42 | 2.07 | 1.16 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 20.1M | 20.0M | 29.8M | 34.6M | 118.8M | 86.6M | 33.8M | 36.5M | 36.5M | 34.7M | 37.1M | 30.7M | 44.3M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | 94.1 | 104.1 | 2.6 | 14.9 | 12.2 | N/A | N/A | 610.0 | 11.6 |
| P/FCF | N/A | N/A | N/A | N/A | 30.8 | 30.2 | 1.9 | 10.5 | 5.6 | 6.2 | 9.8 | 6.0 | 3.9 |
| EV/EBIT | N/A | N/A | N/A | N/A | 32.4 | 21.9 | 6.6 | 11.1 | 11.8 | N/A | N/A | 4.1 | 7.0 |
| Price/Book | N/A | N/A | N/A | N/A | N/A | 135.6 | 2.0 | 4.8 | 1.7 | 4.7 | 2.8 | 0.9 | 0.8 |
| Price/Sales | N/A | N/A | N/A | N/A | 2.7 | 2.6 | 1.3 | 0.9 | 0.8 | 0.8 | 0.9 | 0.5 | 0.2 |
| FCF Yield | N/A | N/A | N/A | N/A | 6.5% | 6.6% | 52.3% | 9.5% | 17.9% | 16.1% | 10.2% | 16.6% | 25.5% |
| Market Cap | N/A | N/A | N/A | N/A | 4.9B | 3.7B | 392M | 1.5B | 665M | 713M | 551M | 187M | 169M |
| Avg. Price | N/A | N/A | N/A | N/A | 80.96 | 84.98 | 41.86 | 28.27 | 25.64 | 21.61 | 18.91 | 12.54 | 3.82 |
| Year-End Price | N/A | N/A | N/A | N/A | 82.80 | 85.40 | 11.62 | 41.45 | 18.24 | 20.53 | 14.84 | 6.10 | 3.82 |
Thryv Holdings, Inc. passes 3 of 9 quality checks, indicating weak fundamentals.
Thryv Holdings, Inc. trades at 382.0x trailing earnings, compared to its 15-year median P/E of 13.6x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 5.4x vs a median of 8.0x. The company's 5-year average gross margin is 64.9%. Total shareholder yield (buybacks) is 3.0%. At current prices, the estimated annualized return to fair value is -22.1%.
Thryv Holdings, Inc. (THRY) has a net profit margin of 0.0%. This is a modest margin.
Thryv Holdings, Inc. (THRY) generated $31 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Thryv Holdings, Inc. (THRY) has a debt-to-equity ratio of 1.29. This indicates moderate leverage.
Thryv Holdings, Inc. (THRY) reported earnings per share (EPS) of $0.01 in its most recent fiscal year.
Thryv Holdings, Inc. (THRY) has a return on equity (ROE) of 0.1%. This indicates moderate shareholder returns.
Thryv Holdings, Inc. (THRY) has a 5-year average gross margin of 64.9%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 12 years of financial data for Thryv Holdings, Inc. (THRY), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Thryv Holdings, Inc. (THRY) has a book value per share of $7.11, based on its most recent annual SEC filing.