Comstock Holding Companies CHCI

Name: CHCI Crucible Score
Creator: Kaladin Capital Intelligence

UnknownUnknownN/A📅 Scored March 14, 2026

Price at analysis: $16.25

Crucible Score

61.3

C+

Quality × Value Composite

KQI — Quality

61.7

C+

Fundamental Quality Index

KVI — Value

60.8

C+

Valuation Attractiveness Index

Crucible Verdict — CHCI

Comstock Holding Companies (CHCI) presents a mixed investment profile with solid fundamentals undermined by significant structural weaknesses. The company's strong moat durability (73) and financial quality (69) contrast sharply with poor diversification scores (18) and weak market positioning (38), creating concentration risk that limits upside potential. CHCI trades at a 24% discount to fair value, but investors should monitor whether management can address the diversification gap.

— Kal, Kaladin Capital Intelligence

◆ KQI Quality Dimensions

Financial Quality

68.6

Growth Profile

57.5

Moat Durability⚠

73.2

Management Effectiveness⚠

63.9

Diversification & Resilience⚠

18.0

Market Position

38.0

Weakest dimension: Diversification & Resilience (18.0)

◆ KVI Value Dimensions

DCF Margin of Safety

69.9

FCF Yield & Cash Returns

33.5

Relative Valuation

86.5

Growth-Adjusted Value

78.8

Historical Valuation

10.3

Macro Context

84.1

◆ DCF Valuation Scenarios

Bear Case

$12.85

Base Case

$20.14

Bull Case

$30.52

Price at Analysis

$16.25

Scenario	Fair Value	Rev CAGR (5yr)	Terminal Margin	WACC
🔴 Bear	$12.85	6.0%	16.0%	5.5%
🟢 Base	$20.14	10.0%	19.0%	4.8%
🟢 Bull	$30.52	14.0%	21.0%	4.2%

Key Assumptions: CHCI has a negative beta of -0.10, yielding a CAPM cost of equity below the risk-free rate (4.39% - 0.10*5.5% = 3.84%), which produces unusually low WACCs across scenarios given minimal debt. Revenue has grown from ~$31M to ~$63M over five years (~15% CAGR) with stable ~19-20% operating margins; base case assumes moderation to 10% growth as the company scales. Negative historical tax rates suggest NOL utilization; a normalized 5% effective tax rate is assumed going forward. Capex is negligible historically at under 1% of revenue.

◆ Financial Snapshot

Profitability

Gross Margin21.4%

Operating Margin16.6%

Net Margin24.9%

ROIC11.8%

ROE24.7%

Balance Sheet

Balance SheetD/E: 0.10*, CR: 7.10* (* = TTM)

Cash ConversionFCF/EPS: 0.51x

Capital IntensityCapex/Rev: 0.7%

Altman Z-Score5.11 (Safe)

Piotroski F-Score4/9 (Mixed)

Growth

Revenue CAGR22.9% CAGR

Earnings CAGR62.7% CAGR

Growth ConsistencyCV: 9.06

Segment Breadth0/1 growing (0%)

Quarterly TrendRev↘+2%, Margin↓↓, Cash↓, WC↓

Earnings CredibilityInsufficient Data

◆ Analyst Consensus & Leadership

Leadership & Governance

CEO Ownership36.0%

Compensation61% performance-based

Insider ActivityNeutral

Capital AllocationROIC 11.8% vs WACC 10.0%

◆ Related Companies in Our Universe

Other Unknown companies scored by the Crucible:

ADBE81.8A-NICE80.7A-DECK79.9A-INTU79.9A-EXEL78.3A-MTCH78.2A-TTD78.0B+

Methodology All Scores Crucible Briefs Performance @KaladinCI

Analysis conducted March 14, 2026 based on most recent SEC filings. Updated quarterly, after new SEC filings.

Point-in-time fundamental analysis. Not investment advice. Scores reflect company quality and valuation at time of analysis and may not reflect current market conditions.