ASB

Associated Banc

Fundamental data last updated:April 13, 2026

company profile

SECTOR

Financial Services

industry

Banks - Regional

Exchange

NYSE

County of HQ

United States

Next Earnings Date

04/23/26

Business Summary

DVLT operates in software infrastructure, a layer of technology that underpins enterprise data handling, system integration, and scalable computing environments. These businesses typically generate revenue through licensing, subscriptions, and service contracts tied to mission-critical digital operations. The moat, when present, comes from switching costs, integration depth, and recurring revenue streams embedded within client workflows. Cash generation ultimately depends on converting software deployments into high-margin recurring contracts, but current negative margins suggest the company has yet to fully translate infrastructure positioning into durable, self-funding cash flow.

VALUATION

P/E

9.9

Market Cap ($M USD)

$5,174

Forward P/E

8.6

PEG

0.8

PRICE TO SALES

3.1

PRICE TO BOOK

1.1

EV / EBITDA

-

5-Year Average P/E

DIVIDEND

Yield

3.40%

Annual Payout

$0.94

Payout Ratio

33.30%

Consecutive Years of Dividend Growth

10+

5-Year Dividend Growth Rate

5.90%

Financial Health & Profitability

Earnings Per Share

$2.79

Next Year EPS Growth Estimate

$3.20

Next Year Revenue Growth Estimate

9.20%

Return on Equity (ROE)

9.30%

Operating Margin

42.70%

Debt-to-Equity

0.8

Piotroski F-Score

6

Altman Z-Score

0.3

Return on Invested Capital (ROIC)

16.20%%

Current Ratio

-

Quick Ratio

Gainseekers Quantitative Analysis

Summary

At a $415M market cap with no P/E, no Forward P/E, and negative EPS of -19.1, DVLT is firmly in speculative territory rather than traditional GARP. The absence of forward valuation metrics combined with ROIC of -45.80% and an operating margin of -33.20% signals a business that is not currently generating economic value. However, the Altman Z-Score of 5.1 and a strong current ratio of 5.3 indicate low near-term bankruptcy risk despite the income statement damage. This is not a mispriced compounder; it is a balance-sheet-supported turnaround story trading at 2.7x sales and 1.7x book, where survival looks solid but profitability remains deeply impaired.

AI Exposure / Tech Reliance

As a Software - Infrastructure company in the Technology sector, DVLT operates in a segment structurally aligned with AI and data-centric computing demand. Infrastructure software sits at the core of AI deployment, data management, and enterprise digitization, giving it theoretical exposure to long-duration tech spending cycles. The challenge is execution, not positioning.

The Bull Case

A value-oriented investor could justify interest based on balance sheet resilience and stabilization signals rather than earnings power. A Piotroski F-Score of 6 suggests middling but not distressed financial quality, while a 5.3 current ratio and 5.1 Altman Z-Score materially reduce insolvency risk. Price-to-book at 1.7 is not stretched for infrastructure software, and 2.7x sales is modest relative to many technology peers, particularly if sales inflect. Return on Equity at 25.00% is notable on the surface and, if sustainable, suggests the company can generate shareholder returns despite negative net metrics elsewhere, implying capital structure or accounting dynamics may be amplifying equity returns. For investors betting on operating leverage, even modest revenue stabilization could sharply re-rate a $415M company with institutional ownership listed at 3.00 and a consensus target price of 1, leaving room for sentiment-driven upside.

The Bear Case

The bear case is far more straightforward: EPS of -19.1, operating margins of -33.20%, and ROIC of -45.80% reflect a company destroying capital at scale. Sales Growth Next Year listed as -$0.02 implies no credible top-line acceleration, and the absence of Forward P/E or PEG data removes any valuation anchor tied to earnings recovery. Debt/Equity at -83.10% is structurally unusual and raises questions about balance sheet composition and sustainability. With no dividend support, a token 0.1 TTM yield, and missing short interest transparency, investors are underwriting a turnaround without clear profitability metrics. This is a capital-consuming software company priced on hope rather than demonstrated operating momentum.

Market Sentiment & Smart Money

Short Interest %

0.00%

Analyst Consensus

2.25

Average Analyst Price Target

$30.09

Institutional Ownership %

87.90%

1-Year Beta

1.21

Insider Buying % (6 Mo)

14.40%%

Distance to 52-Week High

93.10%%

Distance to 52-Week Low

146.30%%