Priority Technology Holdings Inc PRTH

FinancialsFinancial Technology (Fintech) & InfrastructureUnited States of America

Last close 7.91 USD on Nov 2, 2026, +45.1% year to date

Quant rating

Quant rating A Rank 55 of 799 in Financials

Growth B 161 of 799
Valuation B 123 of 799
Quality B 211 of 799
Revisions B 174 of 799
Momentum B 152 of 799

Wall Street consensus Hold (3.00)Average target 8.03 USD +1.6%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 652M
Enterprise value: 1.6B
52-week range: 4.44 – 7.91
3-year range: 2.91 – 12.29
Dividend yield: –
Beta (5 years): 1.78
Shares outstanding: 82.5M
Next earnings: Nov 5, 2026

About the company

Priority Technology Holdings, Inc. is a solution provider in the payments and banking-as-a-service (BaaS) industry, operating at a scale of 1.2 million customers across its small and medium-sized businesses (SMB), business-to-business and enterprise channels. The Company has three segments. The SMB Payments segment provides full-service acquiring and payment-enabled solutions for business-to-consumer transactions, leveraging its proprietary software platform, distributed through independent sales organizations (ISO), direct sales and vertically focused independent software vendor (ISV) channels. The B2B Payments segment provides accounts payable (AP) automation solutions to corporations, software partners and financial institutions (FI), including Citibank, Visa and Mastercard. The Enterprise Payments segment provides embedded finance and BaaS solutions to customers to modernize legacy platforms and accelerate software partners' strategies to monetize payments.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	953	880	756	664	515	–
Revenue growth	8.3%	16.4%	13.9%	28.9%	27.3%	18.7%
EPS (basic, normalized)	1.05	0.51	−0.59	−0.48	−0.24	–
EPS growth	105.9%	–	–	–	–	–
Gross margin	39.3%	37.3%	36.4%	34.2%	30.1%	35.5%
Net margin	5.8%	−2.7%	−6.5%	−5.9%	−4.8%	−2.8%
ROE	–	–	−1.1%	−1.5%	5.9%	1.1%

Balance sheet, last quarter
Cash & short-term investments (mil)	120
Current ratio	1.10x
Long-term debt (mil)	1,045
Net debt (mil)	936
Total equity (mil)	−79.2
Net debt / equity	−11.82x
Net debt / EBITDA	4.16x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	953	+8.3%	1.7x	225	+10.2%	7.1x	1.05	+105.9%	7.5x
2026	1,034	+8.5%	1.5x	236	+4.7%	6.7x	1.19	+13.3%	6.6x
2027	1,112	+7.5%	1.4x	257	+9.2%	6.2x	1.22	+2.2%	6.5x
2028	1,189	+6.9%	1.3x	277	+7.6%	5.7x	1.45	+19.2%	5.5x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	1,034	0.0%	+0.4%	+0.9%	1.19	0.0%	+6.5%	+11.5%
2027	1,112	0.0%	+0.8%	+1.5%	1.22	0.0%	−2.9%	−1.5%
2028	1,189	0.0%	+1.1%	+0.7%	1.45	0.0%	+7.4%	+4.3%

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	206	220	227	227	225	240	241	247	250	262
Sales mean (mil)	210	217	222	227	229	239	252	248	243	258
Surprise	−2.1%	+1.5%	+2.1%	0.0%	−1.9%	+0.3%	−4.1%	−0.4%	+2.7%	+1.7%
EPS reported	−0.10	−0.23	0.07	0.18	0.22	0.26	0.28	0.27	0.28	0.29
EPS mean	−0.09	−0.06	0.01	0.07	0.18	0.20	0.26	0.28	0.21	0.26
Surprise	−8.1%	−283.3%	+425.1%	+157.1%	+22.2%	+28.4%	+7.1%	−3.6%	+30.2%	+11.5%

Peer comparison Financial Technology (Fintech) & Infrastructure

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
PRTH Priority Technology Holdings Inc	652M	4.16x	5.8%	−8.24x	6.6x	6.5x	6.7x	6.2x
ADYEY Adyen N.V.	30.1B	–	39.8%	4.55x	21.9x	18.0x	10.8x	8.4x
AFRM Affirm Holdings, Inc.	24.9B	11.33x	45.3%	4.52x	37.3x	25.6x	21.3x	15.8x
CHYM Chime Financial, Inc.	10.8B	−8.40x	−46.2%	7.69x	61.6x	30.8x	20.1x	12.9x
DAVE Dave Inc.	4.1B	0.07x	35.3%	19.75x	22.1x	15.2x	12.9x	10.2x
STNE StoneCo Ltd.	1.8B	0.78x	16.7%	1.06x	3.9x	3.6x	1.9x	2.0x
Mean		1.59x	16.1%	4.89x	25.6x	16.6x	12.3x	9.2x
Median		0.78x	26.0%	4.54x	22.0x	16.6x	11.8x	9.3x

Technical analysis

1M+1.7%
3M+21.7%
1Y+13.6%
3Y+130.6%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Priority Technology Holdings Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	953	880	756	664	515	404
Cost of revenue	578	552	480	437	360	277
Gross profit	375	328	275	227	155	127
Selling, general & administrative expenses	170	137	125	100	72.2	65.3
Research & development	–	–	–	–	–	–
Depreciation/amortization	63.2	58.0	68.4	70.7	49.7	40.8
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	11.2	14.7	0	0	0.7	−105
Other operating expenses	0	0	0	0	0	0
Operating income	130	119	81.5	56.2	32.4	126
Net interest income (expense)	−29.6	−32.3	−42.7	−46.1	−35.8	−44.0
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−54.2	−49.1	−31.7	−6.9	−0.5	−0.2
Net income before taxes	46.3	37.3	7.2	3.2	−3.9	82.0
Provision for taxes	−9.4	13.3	8.5	5.3	−5.3	10.9
Minority interest	0	−0.6	–	0	0	−45.4
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	55.7	23.4	−1.3	−2.1	1.4	25.7
Extraordinary items	–	–	–	–	–	–
Net income	55.7	23.4	−1.3	−2.1	1.4	25.7
EBIT, normalized	141	133	81.5	56.2	33.1	26.5
EBITDA, normalized	204	191	150	127	82.8	67.3
Basic EPS, normalized	1.05	0.51	−0.59	−0.48	−0.24	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Priority Technology Holdings Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	77.2	58.6	39.6	18.5	20.3	9.2
Receivables	93.4	71.6	60.0	79.6	58.7	43.5
Total inventory	–	–	–	–	–	–
Prepaid expenses	32.1	23.0	13.3	11.8	15.8	3.5
Other current assets	1,312	952	768	543	508	79.6
Total current assets	1,515	1,105	881	652	603	136
Property, plant & equipment	65.2	59.8	50.1	39.3	31.5	22.9
Goodwill	417	376	376	369	366	107
Intangibles	315	241	273	289	340	98.1
Long-term investments	–	–	–	–	–	–
Note receivable	17.6	4.9	3.7	3.2	0.1	5.5
Other long-term assets	69.1	40.1	30.8	20.3	11.3	48.7
Total assets	2,399	1,827	1,615	1,373	1,352	418
Liabilities
Accounts payable	19.6	14.6	11.0	6.5	–	4.3
Payable/accrued	–	–	–	–	–	–
Accrued expenses	91.5	85.1	74.7	81.3	72.1	49.3
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	0	9.5	6.7	6.2	6.2	19.4
Other current liabilities	1,299	942	760	536	505	75.8
Total current liabilities	1,410	1,052	852	630	584	149
Long-term debt	1,039	921	632	599	604	358
Minority interest	8.0	1.8	1.7	1.3	–	0
Other liabilities	41.5	19.3	18.8	11.6	18.3	9.7
Total liabilities	2,499	1,994	1,504	1,242	1,206	516
Shareholders' equity
Preferred stock	0	0	–	–	–	0
Common stock	0.1	0.1	0.1	0.1	0.1	0.1
Additional paid-in capital	13.9	0	0	9.7	39.8	5.8
Retained earnings (accumulated deficit)	−91.5	−147	−135	−102	−100	−102
Treasury stock	−22.8	−19.6	−12.8	−11.6	−4.1	−2.4
Other equity	−0.2	−0.2	259	236	210	0
Total equity	−100	−167	111	132	146	−98.6
Total liabilities & shareholders' equity	2,399	1,827	1,615	1,373	1,352	418

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Priority Technology Holdings Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	55.7	24.0	−1.3	−2.1	1.4	71.1
Depreciation, depletion & amortization	63.2	58.0	68.4	70.7	49.7	40.8
Deferred taxes	−12.2	−2.2	−6.1	−8.2	−2.6	3.0
Non-cash items	23.5	21.9	5.1	11.9	−22.8	−95.9
Changes in working capital	−30.2	−16.2	15.2	−1.7	−16.4	−6.7
Cash from operations	100	85.6	81.3	70.5	9.4	12.2
Investing activities
Capital expenditures	−94.4	−32.2	−27.9	−26.9	−59.2	−13.0
Other investing cash flows	−79.7	−3.4	−27.8	−9.6	−392	179
Cash from investing	−174	−35.5	−55.7	−36.5	−451	166
Financing activities
Financing cash flow items	323	164	205	36.1	400	−18.9
Cash dividends paid	0	−78.2	−24.7	−11.5	−7.5	0
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	103	61.6	29.7	−16.2	479	−122
Cash from financing	426	148	210	8.5	872	−141
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	352	198	236	42.5	430	37.7
Free cash flow	5.6	53.4	53.4	43.7	−49.8	−0.8

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.