Spok Holdings (SPOK) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Spok Holdings

NasdaqGS•Healthcare•Health Information Services

$10.69+0.33(0.03%)Market open

Market Cap

$252.69M

P/E

13.5x

P/S

1.9x

P/B

1.7x

Spok Holdings, Inc., through its subsidiary, Spok, Inc., engages in the healthcare communication solutions in the United States, Europe, Canada, Australia, Asia, and the Middle East. Its products and services enhance workflows for clinicians and support administrative compliance. The company delivers clinical information to care teams when and where it matters to enhance patient outcomes; and provides GenA Pager, a one-way alphanumeric pager. It offers subscriptions to one-way or two-way messaging services, as well as alphanumeric pagers that are configurable to support unencrypted or encrypted operation; and ancillary services, such as voicemail, and equipment loss or maintenance protection services, as well as sells devices to resellers who lease or resell them to their subscribers. The company provides Spok Care Connect suite products for contact centers, clinical alerting and notification, mobile communications and messaging, and public safety notifications. In addition, it provides professional, software license updates, and product support services, as well as sells third-party equipment. It serves businesses, professionals, management personnel, medical personnel, field sales personnel and service forces, members of the construction industry and construction trades, real estate brokers and developers, sales and services organizations, specialty trade organizations, manufacturing organizations, and government agencies. The company was formerly known as USA Mobility, Inc. and changed its name to Spok Holdings, Inc. in July 2014. Spok Holdings, Inc. was founded in 1986 and is headquartered in Plano, Texas.

How this company scores

GoodMetricSide Score: 71/100

Strongest: Cash & Earnings Quality (25/25); weakest: Growth (10/25).

Profitability21/25

Growth10/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality25/25

Strengths

Rising free cash flowInterest easily coveredCash-backed earningsConsistent free cash flow

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 13.5x5y range 6.2x – 21.7x

Currently below its 16-quarter median.

P/S · 1.9x5y range 0.9x – 2.6x

Currently near its 20-quarter median.

P/B · 1.7x5y range 0.8x – 2.4x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Margin Pressure

Watch

Operating margins declined 11.5% — watch for continued compression, which may signal competitive or cost pressure.

Revenue Decline

Watch

Revenue has softened, declining in 5 quarters. Watch for further erosion.

Price & Volume

Market Cap $252.69M

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $135.10M
Q. Revenue: $33.00M
TTM EBITDA: $21.18M
TTM Op. Income: $17.45M
Q. Op. Income: $5.64M
TTM Net Income: $18.75M
Q. Net Income: $9.72M
EPS: $0.46
Shares Out.: $20.92M

$135.10M in TTM revenue declined 3.3% YoY, reaching $33.00M last quarter. TTM EBITDA of $21.18M and TTM operating income of $17.45M show growth is flowing through to the bottom line. TTM net income of $18.75M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has fallen for 5 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 20.0%
Op. Margin: 17.1%
Net Margin: 29.4%

Op. margin of 17.1% is up 4.2% YoY — cost efficiency is improving. Net margin at 29.4% Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 13.5x
P/S Ratio: 1.9x
P/B Ratio: 1.7x

At 13.5x P/E, the stock trades below typical market levels. P/S of 1.9x and P/B of 1.7x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has fallen for 2 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $198.32M
Cash: $30.07M
Long-Term Debt: N/A
Book Value: $144.52M
D/E Ratio: N/A
Debt/EBITDA: 0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $12.98M
TTM Free Cash Flow: $30.07M
FCF Margin: 22.3%
FCF / Net Income: 1.6

TTM FCF of $30.07M on $12.98M in operating cash flow. The FCF / Net Income ratio of 1.6x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 33% — an improving trend.