# Idt (IDT.US)

Canonical: https://gigainvestors.com/s/IDT

Analysis as of: 2026-10-16T07:29:16.344Z. Financial observations: FY1997–FY2026.

Listing currency: USD. Reporting currency: USD.

## Verdict

Not a wonderful business

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: $82.24 per share; close as of 2026-10-15.

## Checklist

### understandable: pass

- Positive operating margins follow a sustained upward trend (at least 90% explained, low residual variation), with no net losses or latest decline; improvement passes the margin-variation check

- 5 revenue declines in the last 10 years (informational)

- Financial history: 10 years

- Years with declining revenue: 5

- Years with a net loss: 0

- Operating margin variation: 0.79×

- Sustained margin improvement: Yes

- Variation explained by rising trend: 93.6%

- Variation around the rising trend: 0.20×

Chart: Operating margin; fiscal year observations.

- FY2017: 0.00×

- FY2018: 0.01×

- FY2019: 0.00×

- FY2020: 0.02×

- FY2021: 0.04×

- FY2022: 0.04×

- FY2023: 0.05×

- FY2024: 0.05×

- FY2025: 0.08×

- FY2026: 0.09×

### moat: fail

- Years with nonpositive invested capital use equity plus debt and leases; positive earnings with no positive capital are shown above 100%.

- ROIC worst years below threshold (more than 1 bad year allowed)

- ROIC, median of available years: 33.5%

- ROIC, second-lowest year: 5.0%

- Typical minus recent gross margin: -14.0 pp

- Typical gross margin (annual median): 22.2%

- Recent gross margin (lower of latest and 3-year median): 36.2%

- Years with nonpositive capital: 1

- Capital spending / revenue: 1.5%

- ROIC including acquisitions, ten-year median: 21.9%

Chart: ROIC excluding acquisitions; fiscal year observations.

- FY2017: 5.0%

- FY2018: 7.3%

- FY2019: 1.6%

- FY2020: 31.9%

- FY2021: 49.4%

- FY2022: >100%

- FY2023: 35.2%

- FY2024: >100%

- FY2025: >100%

- FY2026: 23.7%

### economics: pass

- Owner earnings / net income, 5-yr: 0.99×

- Cash conversion uses consolidated totals: No

- Owner earnings, five-year total: $291M

- Net income, five-year total: $295M

- Return on incremental invested capital: 186.7%

- Working capital / revenue, annual change: -0.3 pp

- Working capital / revenue, change between three-year averages: -3.7 pp

- Working capital / revenue, final three-year average: 2.7%

Chart: Annual owner cash / profit; fiscal year observations.

- FY2022: 0.86×

- FY2023: 0.96×

- FY2024: 1.02×

- FY2025: 1.00×

- FY2026: 1.00×

### management: pass

- Historical market-dollar context (not the management verdict): 2017 to 2026 (9 years)

- potential debt-funded buybacks (informational)

- buybacks leaned toward cheaper years (informational)

- ROIC first 3 years vs last 3 years: 5.0% vs 227.8%

- Per-share earnings: 0.35 to 3.01 (three-year endpoint medians)

- Management verdict uses per-share economic progress: Yes

- Ordinary dilution, 10-year annual growth: 0.9%

- Ordinary dilution, 5-year annual growth: -0.8%

- Market cap gain: $1.4B

- Cumulative retained earnings: $401M

- Diluted shares, 10-year annual growth: 0.9%

- Diluted shares, 5-year annual growth: -0.8%

- $1 test, starting fiscal year: FY2017

- $1 test, ending fiscal year: FY2026

- Per-share value growth: 30.8%

- Per-share value change: $2.66

- Per-share value, starting three-year median: $0.35

- Per-share value, ending three-year median: $3.01

- Buybacks concentrated in cheaper years (correlation): 0.14

- Average buyback yield: 1.7%

- Buyback history: 10 years

- Debt-funded buybacks: Yes

- Acquisition spending: $28M

- Cumulative net income, 10 years: $425M

- ROIC, first three-year median: 5.0%

- ROIC, last three-year median: >100%

Chart: Earnings per share; fiscal year observations.

- FY2017: $0.35

- FY2018: $0.17

- FY2019: $0.01

- FY2020: $0.81

- FY2021: $3.70

- FY2022: $1.03

- FY2023: $1.58

- FY2024: $2.54

- FY2025: $3.01

- FY2026: $3.46

### accounting: pass

- Sloan accruals: -0.6%

- Receivables to sales index (DSRI): 1.34×

- Restructuring years, last five: 0

- Stock compensation / operating cash flow: 0.0%

- Earnings backed by cash: Yes

- Operating cash / earnings: 1.05×

- Accounting red flags: 0

- Goodwill and intangibles / equity: 0.09×

Chart: Sloan accruals; fiscal year observations.

- FY2017: -2.1%

- FY2018: -0.7%

- FY2019: -19.1%

- FY2020: 12.6%

- FY2021: 5.8%

- FY2022: -0.5%

- FY2023: -2.7%

- FY2024: -2.5%

- FY2025: -8.1%

- FY2026: -0.6%

## Holders

- [Thomas Graham Kahn](https://gigainvestors.com/KB): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Up 193% since Oct 2023 · "IDT raises 2026 adjusted EBITDA guidance to $147M-$149M as digital and AI initiatives accelerate" (seekingalpha.com, Mar 2026) · sales +5.4%

Story as of 2026-10-16T09:58:56.218Z; price observation 2026-10-15.

- 2025-06-10: IDT Stock Gains Following Strong Q3 Earnings and Margin Expansion ([finance.yahoo.com](https://finance.yahoo.com/news/idt-stock-gains-following-strong-151500234.html))

- 2026-06-04: IDT signals FY 2026 adjusted EBITDA of $150M-$152M driven by growth-segment operating leverage ([seekingalpha.com](https://seekingalpha.com/news/4600502-idt-signals-fy-2026-adjusted-ebitda-of-150m-152m-driven-by-growth-segment-operating-leverage?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news))

### Sales · FY2025–2026

sales +5.4%; source https://www.sec.gov/Archives/edgar/data/1005731/000143774926031469/idt20260731_10k.htm; observed 2026-09-29.

- FY2017: $1.5B 

- FY2018: $1.5B 

- FY2019: $1.4B 

- FY2020: $1.3B 

- FY2021: $1.4B 

- FY2022: $1.4B 

- FY2023: $1.2B 

- FY2024: $1.2B 

- FY2025: $1.2B 

- FY2026: $1.3B 

### Gross margin · FY2026

gross margin 38.3%; source https://www.sec.gov/Archives/edgar/data/1005731/000143774926031469/idt20260731_10k.htm; observed 2026-09-29.

- FY2017: 15.1% 

- FY2018: 15.6% 

- FY2019: 16.7% 

- FY2020: 19.5% 

- FY2021: 20.2% 

- FY2022: 24.2% 

- FY2023: 29.3% 

- FY2024: 32.4% 

- FY2025: 36.2% 

- FY2026: 38.3% 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in telecom services; annual sales are USD 1.3 billion.

- Source: https://www.sec.gov/Archives/edgar/data/1005731/000143774926031469/idt20260731_10k.htm (filed 2026-09-29); FY2026: revenue 1297960000; grossProfit 496788000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-15); IDT.US: IDT Corporation, together with its subsidiaries, provides fintech and communications solutions in the United States, the United Kingdom, and internationally. It operates in four segments: National Retail Solutions, Fintech, Net2phone, and Traditional Communications. The company operates point of sale, a terminal-based platform which provides independent retailers with store management software, electronic payment processing, and other ancillary merchant services; and marketers with retail media advertising and transaction data. It also offers BOSS Money for international money remittance, and related value and payment transfer services, as well as net2phone solutions comprising unified communications as a service; contact center as a service under the uContact brand; net2phone AI, which delivers customer experiences across sales, support, and administrative tasks; and net2phone Coach, a workforce intelligence and coaching platform. In addition, the company provides IDT Digital Payments, which enables businesses, entrepreneurs, and developers to offer prepaid digital offerings, including mobile airtime top-up, mobile data bundles, digital gift cards, and eSIMs through its Zendit platform; and BOSS Revolution, which offers international long-distance voice calling to immigrant communities. Further, it provides IDT Global, a wholesale provider of international voice, SMS termination, and outsourced traffic management solutions to telecoms; and IDT Express, a mobile self-service portal paired with dedicated account managers backed by customer support. IDT Corporation was incorporated in 1978 and is headquartered in Newark, New Jersey.

### Why customers stay

Margins ranged from 32.4% to 38.3% during 2024–26; it earns 33.5% on its capital.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-29); FY2024: grossProfit / revenue = 32.4%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-29); FY2025: grossProfit / revenue = 36.2%.

- Source: https://www.sec.gov/Archives/edgar/data/1005731/000143774926031469/idt20260731_10k.htm (filed 2026-09-29); FY2026: grossProfit / revenue = 38.3%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-29); 10-year return on capital observations [[2017,0.04992307761513617],[2018,0.07250685697547467],[2019,0.01613395201707325],[2020,0.31873874104074307],[2021,0.4935951290068336],[2022,6.172159852390707],[2023,0.3522465154190972],[2024,2.27811004784689],[2025,2.96622785587824],[2026,0.23673512683223813]]; median 0.3354926282299201. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Where the cash goes

Spends 2% of cash earnings on expansion; earns over 100% on new investment.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-29); FY2017: growth capex 299833.0343908593; upkeep 22649166.96560914; owner earnings 7231833.034390859. Growth capex / owner earnings = 0.04146017101957531.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-29); FY2018: growth capex 0; upkeep 20567000; owner earnings 6442000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-29); FY2019: growth capex 0; upkeep 18681000; owner earnings 4281000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-29); FY2020: growth capex 0; upkeep 16041000; owner earnings 25795000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-29); FY2021: growth capex 0; upkeep 16765000; owner earnings 97474000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-29); FY2022: growth capex 0; upkeep 21879000; owner earnings 23264000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-29); FY2023: growth capex 0; upkeep 21958000; owner earnings 38670000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-29); FY2024: growth capex 0; upkeep 18922000; owner earnings 65883000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-29); FY2025: growth capex 0; upkeep 20770000; owner earnings 76332000. Growth capex / owner earnings = 0.

- Source: https://www.sec.gov/Archives/edgar/data/1005731/000143774926031469/idt20260731_10k.htm (filed 2026-09-29); FY2026: growth capex 1707000; upkeep 21400000; owner earnings 86633000. Growth capex / owner earnings = 0.019703808017729963.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-29); Incremental return on capital 1.8674343383612466, from the economics test's unchanged annual inputs.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-29); Dividend observations: [[2017,17874000],[2018,13941000],[2019,3000000],[2020,276000],[2021,848000],[2022,514000],[2023,172000],[2024,2536000],[2025,5550000],[2026,6504000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/1005731/000143774926031469/idt20260731_10k.htm (filed 2026-09-29); FY2026: cash repurchases 21526000 USD.

### Are managers owners

Insiders own 13.1% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-15); IDT.US SharesStats.PercentInsiders = 13.105 percentage points; cache date 2026-10-15.

### What the price says

The price is 1.6 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-09-29); Closing price 82.24 USD; reporting-to-trading FX 1; FY2026 annual sales per share 51.870678975342685; price multiple 1.5854814632192054. FY2026 cash earnings/share 3.462134835950925. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2016-10: $15.14 per share

- 2016-11: $17.91 per share

- 2016-12: $15.69 per share

- 2017-01: $16.24 per share

- 2017-02: $16.33 per share

- 2017-03: $10.76 per share

- 2017-04: $12.85 per share

- 2017-05: $14.35 per share

- 2017-06: $12.16 per share

- 2017-07: $12.53 per share

- 2017-08: $12.45 per share

- 2017-09: $11.91 per share

- 2017-10: $11.15 per share

- 2017-11: $13.22 per share

- 2017-12: $8.97 per share

- 2018-01: $9.20 per share

- 2018-02: $10.22 per share

- 2018-03: $6.27 per share

- 2018-04: $5.42 per share

- 2018-05: $4.90 per share

- 2018-06: $5.62 per share

- 2018-07: $5.25 per share

- 2018-08: $5.29 per share

- 2018-09: $5.34 per share

- 2018-10: $7.04 per share

- 2018-11: $8.39 per share

- 2018-12: $6.19 per share

- 2019-01: $7.18 per share

- 2019-02: $6.04 per share

- 2019-03: $6.64 per share

- 2019-04: $7.12 per share

- 2019-05: $6.46 per share

- 2019-06: $9.47 per share

- 2019-07: $10.16 per share

- 2019-08: $8.82 per share

- 2019-09: $10.53 per share

- 2019-10: $6.81 per share

- 2019-11: $7.13 per share

- 2019-12: $7.21 per share

- 2020-01: $7.56 per share

- 2020-02: $7.70 per share

- 2020-03: $5.42 per share

- 2020-04: $5.40 per share

- 2020-05: $6.34 per share

- 2020-06: $6.53 per share

- 2020-07: $6.51 per share

- 2020-08: $6.52 per share

- 2020-09: $6.58 per share

- 2020-10: $9.53 per share

- 2020-11: $11.92 per share

- 2020-12: $12.36 per share

- 2021-01: $14.03 per share

- 2021-02: $17.95 per share

- 2021-03: $22.66 per share

- 2021-04: $24.01 per share

- 2021-05: $28.86 per share

- 2021-06: $36.96 per share

- 2021-07: $49.80 per share

- 2021-08: $43.48 per share

- 2021-09: $41.95 per share

- 2021-10: $48.37 per share

- 2021-11: $54.28 per share

- 2021-12: $44.16 per share

- 2022-01: $37.53 per share

- 2022-02: $36.06 per share

- 2022-03: $34.09 per share

- 2022-04: $26.48 per share

- 2022-05: $27.56 per share

- 2022-06: $25.15 per share

- 2022-07: $26.03 per share

- 2022-08: $25.57 per share

- 2022-09: $24.83 per share

- 2022-10: $26.06 per share

- 2022-11: $27.95 per share

- 2022-12: $28.17 per share

- 2023-01: $29.39 per share

- 2023-02: $30.41 per share

- 2023-03: $34.08 per share

- 2023-04: $33.21 per share

- 2023-05: $30.39 per share

- 2023-06: $25.85 per share

- 2023-07: $23.72 per share

- 2023-08: $23.38 per share

- 2023-09: $22.05 per share

- 2023-10: $28.05 per share

- 2023-11: $29.35 per share

- 2023-12: $34.09 per share

- 2024-01: $34.58 per share

- 2024-02: $37.21 per share

- 2024-03: $37.81 per share

- 2024-04: $35.54 per share

- 2024-05: $40.53 per share

- 2024-06: $35.92 per share

- 2024-07: $38.23 per share

- 2024-08: $38.36 per share

- 2024-09: $38.17 per share

- 2024-10: $46.93 per share

- 2024-11: $51.64 per share

- 2024-12: $47.52 per share

- 2025-01: $47.18 per share

- 2025-02: $48.56 per share

- 2025-03: $51.31 per share

- 2025-04: $50.25 per share

- 2025-05: $61.59 per share

- 2025-06: $68.32 per share

- 2025-07: $58.91 per share

- 2025-08: $64.07 per share

- 2025-09: $52.31 per share

- 2025-10: $50.66 per share

- 2025-11: $49.77 per share

- 2025-12: $51.21 per share

- 2026-01: $48.63 per share

- 2026-02: $50.95 per share

- 2026-03: $49.10 per share

- 2026-04: $50.15 per share

- 2026-05: $55.16 per share

- 2026-06: $58.16 per share

- 2026-07: $65.86 per share

- 2026-08: $68.22 per share

- 2026-09: $79.97 per share

- 2026-10: $82.24 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/1005731/000143774926031469/idt20260731_10k.htm); period 2026-07-31, filed 2026-09-29.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.