DJCO
DAILY JOURNAL CORP
Next earnings Aug 12, 2026
Last earnings +0.5% on 2026-05-14
$574.44
▲ +4.78%$574.44▲ +39.03%
over 1Y
L $374.53EODHDH $664.72
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+4.8%
1W+9.0%
1M+15.1%
3M+16.8%
YTD+14.5%
1Y+39.0%
Hold
Conviction
Horizon
Long (>12mo)
Munger-style hybrid: fortress balance sheet and software turnaround offset by mark-to-market-dominated earnings and a flagged material weakness.
Revenue $87.7M · FY2025
The read
Middling fundamentals offset by an attractive price (~439% below fair value) — worth a look on the value angle.
DJCO is best understood as three businesses bolted together, and the headline P/E of 6.7x is misleading. The MD&A discloses that of $150.1M of pretax income, $134.3M came from net realized and unrealized gains on marketable securities — i.e., the equity portfolio (Munger-era holdings) drove the bulk of the FY2025 result. Consolidated operating income was just $9.53M on $87.7M of revenue, so the 10.9% reported operating margin and the 127.9% 'net margin' are accounting artifacts of the investment book, not the operating business. Stripping mark-to-market, the durable earnings stream is operating income + dividends and interest ($7.46M) − interest expense ($1.38M), or roughly $15–16M pretax — against a $747M market cap, that is not cheap on operations alone.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $49.9M | $54.0M | $67.7M | $69.9M | $87.7M |
| Gross profit | — | — | — | — | — |
| Operating income | $2.15M | $1.99M | $6.65M | $4.07M | $9.53M |
| Net income | $113M | -$21.5M | $21.5M | $78.1M | $112M |
| Diluted EPS | — | — | — | $56.73 | $81.41 |
| Net margin | 226.1% | -39.7% | 31.7% | 111.7% | 127.9% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$771M
EV / EBITDA78.8
EV / Sales8.8
EV / FCF57.9
P / FCF59.4
PEG (trailing)0.16
Earnings yield14.2%
FCF yield1.7%
Quality & risk
ROIC (est.)1.9%
Free cash flow$13.3M
Total debt$47.0K
Net cash$20.5M
Altman Z-Score5.33 safe
Piotroski F-Score4/7
Capital returns
Buyback yield—
Dividend yield (est.)—
Shareholder yield—
Shares Δ YoY+0.1%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Earnings results2026-05-14
Q2 FY26 10-Q filed on time; continuing reporting cadence restored.
- 10-Q Quarterly report2026-05-14
Q2 FY26 10-Q filed on time; continuing reporting cadence restored.
- 8-K Shareholder vote2026-02-25
Annual meeting vote results disclosed; directors elected, routine governance items.
- 8-K Earnings results2026-02-17
Q1 FY26 10-Q filed; quarterly disclosures back on schedule.
- 10-Q Quarterly report2026-02-17
Q1 FY26 10-Q filed; quarterly disclosures back on schedule.
- 8-K Other event2026-02-05
Other-event disclosure with exhibit; non-financial corporate update.
- 8-K Other event2025-12-29
FY25 10-K: rev +25%, op income +134%, EPS $81.41, debt nearly retired.
- 8-K Earnings results2025-12-29
FY25 10-K: rev +25%, op income +134%, EPS $81.41, debt nearly retired.
- 10-K Annual report2025-12-29
FY25 10-K: rev +25%, op income +134%, EPS $81.41, debt nearly retired.
Recent filings
all on EDGAR ↗10-QPeriod ending 2026-03-312026-05-14open ↗8-KPeriod ending 2026-05-142026-05-14open ↗13F-HRPeriod ending 2026-03-312026-04-15open ↗SCHEDULE 13G/AFiling2026-03-26open ↗SCHEDULE 13D/AFiling2026-03-10open ↗8-KPeriod ending 2026-02-242026-02-25open ↗SCHEDULE 13G/AFiling2026-02-17open ↗10-QPeriod ending 2025-12-312026-02-17open ↗8-KPeriod ending 2026-02-172026-02-17open ↗8-KPeriod ending 2026-02-042026-02-05open ↗DEFA14AFiling2026-01-21open ↗ARSPeriod ending 2025-09-302026-01-21open ↗
Frequently asked
- Is DAILY JOURNAL CORP (DJCO) a buy?
- DJCO currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Munger-style hybrid: fortress balance sheet and software turnaround offset by mark-to-market-dominated earnings and a flagged material weakness.
- What is DJCO's fair value?
- A Modified-Graham model based on DJCO's SEC fundamentals estimates a fair value of about $3,093.58. It is an estimate from reported earnings, not a price target.
- Is DJCO overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, DJCO currently appears undervalued relative to its SEC-grounded earnings power.
- What is DAILY JOURNAL CORP's quality score?
- DJCO scores 81.92156862745098/100 (grade A-) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0000783412, latest 10-Q filed 2026-05-14) · EODHD · analysis by claude-code · as of 6/25/2026, 3:10:25 PM.
Research and education only — not financial advice. EDGAR is not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities EDGAR rates; see Disclosures. Past performance does not guarantee future results. Do your own research.