Mobile Infrastructure (BEEP)
Market Price (11/6/2026): $2.36 | Market Cap: $97.5 MilSector: Industrials | Industry: Highways & Railtracks
Mobile Infrastructure (BEEP)
Market Price (11/6/2026): $2.36Market Cap: $97.5 MilSector: IndustrialsIndustry: Highways & Railtracks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Smart Buildings & Proptech, and Electric Vehicles & Autonomous Driving. Themes include IoT for Buildings, Building Management Systems, Show more. | Weak multi-year price returns2Y Excs Rtn is -56%, 3Y Excs Rtn is -129% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 213% Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 120x Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.1%, Rev Chg QQuarterly Revenue Change % is -1.1% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 66% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -32% Key risksBEEP key risks include [1] significant financial distress and potential bankruptcy risk from high debt, Show more. |
| Megatrend and thematic driversMegatrends include Smart Buildings & Proptech, and Electric Vehicles & Autonomous Driving. Themes include IoT for Buildings, Building Management Systems, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -56%, 3Y Excs Rtn is -129% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 213% |
| Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 120x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.1%, Rev Chg QQuarterly Revenue Change % is -1.1% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 66% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -32% |
| Key risksBEEP key risks include [1] significant financial distress and potential bankruptcy risk from high debt, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Mobile Infrastructure (BEEP) stock has gained about 25% since 7/31/2026 because of the following key factors:
1. Strong Second Quarter Fiscal 2026 Earnings Outperformance and Reaffirmed Full-Year Guidance.
Mobile Infrastructure Corporation reported its second quarter fiscal 2026 results on August 11, 2026, surpassing analyst expectations. The company posted an earnings per share (EPS) of ($0.08), beating the consensus estimate of ($0.09). Revenue for the quarter reached $8.9 million, exceeding the forecast of $8.31 million. Notably, same-location Net Operating Income (NOI) surged by 12% year-over-year to $5.9 million, demonstrating strong operational momentum. Additionally, the company reaffirmed its full-year fiscal 2026 guidance, projecting total revenue between $35 million and $38 million, representing approximately 4% growth at the midpoint over fiscal 2025 results. This performance and optimistic outlook bolstered investor confidence.
2. Receipt of a Preliminary Acquisition Proposal.
On August 6, 2026, Mobile Infrastructure announced it had received a preliminary, non-binding indication of interest from Bombe Asset Management, LLC to acquire 100% of its outstanding common stock. Bombe Asset Management is controlled by Mobile Infrastructure's Executive Chairman, Manuel Chavez III, and President and CEO, Stephanie Hogue. This announcement signaled potential for a significant premium for shareholders and created positive speculative interest in the stock.
Show more
Mobile Infrastructure (BEEP) stock has gained about 25% since 7/31/2026 because of the following key factors:
1. Strong Second Quarter Fiscal 2026 Earnings Outperformance and Reaffirmed Full-Year Guidance.
Mobile Infrastructure Corporation reported its second quarter fiscal 2026 results on August 11, 2026, surpassing analyst expectations. The company posted an earnings per share (EPS) of ($0.08), beating the consensus estimate of ($0.09). Revenue for the quarter reached $8.9 million, exceeding the forecast of $8.31 million. Notably, same-location Net Operating Income (NOI) surged by 12% year-over-year to $5.9 million, demonstrating strong operational momentum. Additionally, the company reaffirmed its full-year fiscal 2026 guidance, projecting total revenue between $35 million and $38 million, representing approximately 4% growth at the midpoint over fiscal 2025 results. This performance and optimistic outlook bolstered investor confidence.
2. Receipt of a Preliminary Acquisition Proposal.
On August 6, 2026, Mobile Infrastructure announced it had received a preliminary, non-binding indication of interest from Bombe Asset Management, LLC to acquire 100% of its outstanding common stock. Bombe Asset Management is controlled by Mobile Infrastructure's Executive Chairman, Manuel Chavez III, and President and CEO, Stephanie Hogue. This announcement signaled potential for a significant premium for shareholders and created positive speculative interest in the stock.
3. Positive Analyst Sentiment and Upgraded Price Targets.
Throughout the period, Wall Street analysts maintained a positive outlook on BEEP. For example, on August 13, 2026, Kevin Steinke reiterated a "Buy" rating and upheld a $6.50 price target. The average analyst price target during the last three months was $6.25, suggesting a substantial upside of approximately 148.02% from the stock's price as of early November 2026. This sustained positive analyst coverage and high price targets likely contributed to increased investor interest and buying activity.
4. Continued Debt Reduction and Execution of Asset Rotation Strategy.
Mobile Infrastructure demonstrated improved financial health through strategic debt reduction and the effective implementation of its asset rotation program. In the second quarter fiscal 2026, net debt decreased to $197.1 million from $200 million at the end of the first quarter. The company also reported that total proceeds from its 36-month, $100 million asset rotation program had exceeded $30 million, with $22.6 million of debt repaid using these proceeds. This disciplined capital management and progress in deleveraging were viewed favorably by the market.
Show less
Stock Movement Drivers
Fundamental Drivers
The 25.1% change in BEEP stock from 7/31/2026 to 11/5/2026 was primarily driven by a 25.2% change in the company's P/S Multiple.| (LTM values as of) | 7312026 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.83 | 2.29 | 25.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 35 | 35 | -0.3% |
| P/S Multiple | 2.1 | 2.6 | 25.2% |
| Shares Outstanding (Mil) | 39 | 39 | 0.2% |
| Cumulative Contribution | 25.1% |
Market Drivers
7/31/2026 to 11/5/2026| Return | Correlation | |
|---|---|---|
| BEEP | 25.1% | |
| Market (SPY) | -1.9% | 13.5% |
| Sector (XLI) | -9.7% | 10.6% |
Fundamental Drivers
The 24.5% change in BEEP stock from 4/30/2026 to 11/5/2026 was primarily driven by a 23.5% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.84 | 2.29 | 24.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 35 | 35 | -1.1% |
| P/S Multiple | 2.1 | 2.6 | 23.5% |
| Shares Outstanding (Mil) | 40 | 39 | 1.9% |
| Cumulative Contribution | 24.5% |
Market Drivers
4/30/2026 to 11/5/2026| Return | Correlation | |
|---|---|---|
| BEEP | 24.5% | |
| Market (SPY) | 2.3% | 2.3% |
| Sector (XLI) | -6.7% | -1.4% |
Fundamental Drivers
The -33.0% change in BEEP stock from 10/31/2025 to 11/5/2026 was primarily driven by a -32.5% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.42 | 2.29 | -33.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 36 | 35 | -4.1% |
| P/S Multiple | 3.8 | 2.6 | -32.5% |
| Shares Outstanding (Mil) | 41 | 39 | 3.4% |
| Cumulative Contribution | -33.0% |
Market Drivers
10/31/2025 to 11/5/2026| Return | Correlation | |
|---|---|---|
| BEEP | -33.0% | |
| Market (SPY) | 8.4% | 7.9% |
| Sector (XLI) | 5.7% | 4.6% |
Fundamental Drivers
The -45.3% change in BEEP stock from 10/31/2023 to 11/5/2026 was primarily driven by a -66.7% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 10312023 | 11052026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.19 | 2.29 | -45.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | 35 | 0.0% |
| P/S Multiple | � | 2.6 | 0.0% |
| Shares Outstanding (Mil) | 13 | 39 | -66.7% |
| Cumulative Contribution | 0.0% |
Market Drivers
10/31/2023 to 11/5/2026| Return | Correlation | |
|---|---|---|
| BEEP | -45.3% | |
| Market (SPY) | 81.3% | 12.9% |
| Sector (XLI) | 71.8% | 11.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BEEP Return | - | - | -61% | 11% | -43% | -10% | -78% |
| Peers Return | 4% | -9% | -13% | -14% | -18% | -4% | -44% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 105% |
Monthly Win Rates [3] | |||||||
| BEEP Win Rate | - | - | 40% | 42% | 33% | 36% | |
| Peers Win Rate | 52% | 53% | 43% | 50% | 37% | 49% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 45% | |
Max Drawdowns [4] | |||||||
| BEEP Max Drawdown | - | - | - | -37% | -44% | -57% | |
| Peers Max Drawdown | -33% | -43% | -39% | -37% | -33% | -37% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ABM, HIW, BOC, SRG, CMTG.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/5/2026 (YTD)
How Low Can It Go
| Event | BEEP | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -16.9% | -18.8% |
| % Gain to Breakeven | 20.3% | 23.1% |
| Time to Breakeven | 1 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -18.2% | -7.8% |
| % Gain to Breakeven | 22.3% | 8.5% |
| Time to Breakeven | 21 days | 18 days |
In The Past
Mobile Infrastructure's stock fell -16.9% during the 2025 US Tariff Shock. Such a loss loss requires a 20.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
In The Past
Mobile Infrastructure's stock fell -16.9% during the 2025 US Tariff Shock. Such a loss loss requires a 20.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Mobile Infrastructure (BEEP)
Mobile Infrastructure Corporation (BEEP) is a real estate company specializing in acquiring, owning, and leasing parking facilities and related infrastructure across the United States. Its core business involves generating revenue from a portfolio of parking garages and surface lots.
As of September 2023, the company owned 43 properties, encompassing over 15,600 parking spaces and 5.4 million square feet of parking area, located in 21 distinct markets. BEEP strategically targets properties primarily within the top 50 U.S. Metropolitan Statistical Areas, focusing on locations near key demand drivers such as commercial centers, event venues, government buildings, institutional campuses, hospitality establishments, and multifamily central business districts. This strategy aims to ensure a steady stream of users for their parking assets. The company also holds a smaller portfolio of retail/commercial space adjacent to its parking facilities.
AI Analysis | Feedback
Here are 1-3 brief analogies for Mobile Infrastructure (BEEP):
- Like American Tower (AMT), but for parking lots and garages instead of cell towers.
- Like Prologis (PLD), but for parking facilities instead of warehouses.
AI Analysis | Feedback
- Parking Facility Leasing: Leasing of owned parking lots, parking garages, and other parking structures to generate rental income.
- Retail/Commercial Space Leasing: Leasing of retail and commercial spaces that are adjacent to their parking facilities.
AI Analysis | Feedback
- Commuters and Business Visitors: Individuals who park their vehicles for work, business meetings, or shopping in central business districts and areas with high commercial activity.
- Event Goers and Tourists: Individuals attending events, concerts, sports games, or visiting entertainment venues, as well as tourists utilizing parking for hospitality and leisure activities.
- Institutional and Residential Parkers: Individuals associated with government buildings, educational institutions, healthcare facilities, or residents of adjacent multifamily properties who require daily or long-term parking.
AI Analysis | Feedback
- SP Plus Corporation
- The Parking Spot, LLC
- Platinum Parking Management, LLC
- Parking Management Company, LLC
- Metropolis Technologies, Inc.
AI Analysis | Feedback
Stephanie Hogue, Chief Executive Officer
Stephanie Hogue has served as the CEO of Mobile Infrastructure Corporation since August 1, 2025, President and a member of its Board of Directors since 2021, and also held the role of CFO from 2021 until 2024. She is a globally focused executive with over 20 years of leadership experience spanning capital markets, real assets, and strategic advisory. Before joining Mobile Infrastructure, Ms. Hogue was a Managing Director of PwC Corporate Finance LLC, where she managed the New York Branch and oversaw the firm's Inbound Cross-Border M&A and Debt Private Placements practices. Her career also includes capital markets roles at various investment banks, focusing on debt capital markets across the Americas, and she began at Deloitte in Financial Advisory and Strategic Initiatives teams.
Paul Gohr, Chief Financial Officer
Paul Gohr was appointed Chief Financial Officer of Mobile Infrastructure Corporation effective May 16, 2024. Prior to this role, he served as Chief Accounting Officer and Vice President of Corporate Finance at CECO Environmental Corp. (NASDAQ: CECO), where he was responsible for finance, accounting, treasury, and tax functions. Mr. Gohr also held various roles of increasing responsibility at Grant Thornton LLP, a global public accounting firm. He is a Certified Public Accountant.
Manuel Chavez III, Executive Chairman
Manuel Chavez III is a Founder and the Executive Chairman of Mobile Infrastructure Corporation. He previously served as the company's Chief Executive Officer from 2021 to 2025. Mr. Chavez is also the Managing Partner of Bombe Asset Management, an alternative asset management firm he formed in 2017, which focuses on niche opportunities and strategies in transportation infrastructure. He brings 25 years of principal investing experience, involving nearly $2 billion in enterprise value. Additionally, Mr. Chavez chairs The Greater Cincinnati Port Authority and is a member of the Board of Trustees of Cincinnati State Technical and Community College.
Jeffrey B. Osher, Co-Chairman and Director
Jeffrey B. Osher serves as Co-Chairman and a Director of Mobile Infrastructure Corporation, and is noted as the company's largest shareholder. He founded No Street Capital LLC, an investment management firm, in 2018. Before establishing No Street Capital, Mr. Osher was a portfolio manager at Harvest Capital Strategies, LLC from 2005 to 2018, having previously served as an analyst there from 2002 to 2005. His earlier experience includes working as an analyst at The Dowd Company, an investment management firm specializing in technology and emerging growth companies.
AI Analysis | Feedback
Here are the key risks to Mobile Infrastructure (symbol: BEEP):
- High Leverage and Refinancing Needs: Mobile Infrastructure Corporation carries substantial debt, totaling approximately $224.2 million as of December 31, 2025, including a $25.9 million revolving credit facility maturing on March 31, 2026. The company faces significant risks if it cannot secure favorable terms for asset sales or refinancing, which could severely impact its liquidity and hinder growth. Additionally, the company's debt agreements contain restrictive covenants, and non-compliance could lead to a default and acceleration of debt repayment.
- Continued Net Losses and Limited Operating History: Mobile Infrastructure Corporation has a history of ongoing net losses and has yet to achieve profitability, reporting net losses of $22.4 million in 2025 and $7.5 million in 2024. The company anticipates further losses due to start-up costs, depreciation, amortization, and acquisition expenses. This limited operating history and sustained lack of profitability make it a riskier investment.
- Evolving Parking Demand and Technological Disruptions: The company's revenues are highly sensitive to fluctuations in parking demand, which can be significantly impacted by evolving consumer preferences, changes in urban policy, and technological advancements. While management acknowledges the broader uncertainty related to artificial intelligence's impact on office usage and urban activity, the potential for disruptive technologies, such as autonomous vehicles, poses a long-term threat to the demand for parking facilities, directly impacting the company's future income.
AI Analysis | Feedback
Widespread adoption of autonomous vehicles (AVs) and ride-hailing services threatens the core demand for Mobile Infrastructure's parking facilities. As AV technology matures and becomes prevalent, it could significantly reduce private car ownership and change vehicle utilization patterns. Instead of privately owned cars requiring dedicated parking spaces for extended periods, AVs could operate as an on-demand service, dropping off passengers and then either picking up another fare or parking themselves efficiently in less prime locations, thereby eroding the fundamental need for traditional parking spaces in urban central business districts and other key demand drivers. This shift mirrors historical disruptions where new technologies and business models fundamentally altered an incumbent industry's demand landscape.AI Analysis | Feedback
For Mobile Infrastructure Corporation (symbol: BEEP), the addressable markets for their main products and services in the U.S. can be identified as follows:
The market size for Parking Lots & Garages in the U.S. was $13.5 billion in 2024 and is projected to be $13.8 billion in 2025.
The broader U.S. Parking Services Market is expected to reach USD 30 billion in 2026 and is projected to expand to USD 42 billion by 2033.
AI Analysis | Feedback
Mobile Infrastructure Corporation (BEEP) anticipates several key drivers for revenue growth over the next 2-3 years, as outlined in recent company guidance and analyst observations:
- Growth in Contract Parking Volumes: The company expects an ongoing increase in contract volumes, including a notable rise in residential monthly contracts. This expansion of recurring parking agreements provides a stable revenue base and enhances pricing power.
- Renovation and Re-opening of Venues: Revenue growth is expected to be fueled by the renovation and re-opening of various venues. These enhancements and renewed operations are projected to increase parking activity and demand at these locations.
- Technological Optimization and Pricing Enhancements: Mobile Infrastructure plans to leverage technological advancements to improve pricing strategies and overall utilization across its parking portfolio. These operational efficiencies are intended to boost revenue generation per parking space.
- Improving Return-to-Office Trends: The company's management anticipates that a sustained improvement in return-to-office trends within its operating markets will contribute significantly to increased parking demand, particularly in central business districts.
- Conversion to Management Contracts: Mobile Infrastructure is actively converting its operational model from lease agreements to management contracts. This strategic shift is expected to drive higher revenue recognition by basing revenue on usage rather than episodic cash collections, thereby offering a more reliable metric for underlying business trends.
AI Analysis | Feedback
Share Repurchases
- Mobile Infrastructure's Board of Directors authorized a $10 million share buyback program in September 2024.
- As of March 2, 2026, the company had repurchased over 1.6 million shares at an average price of $3.25 per share.
- Share repurchases are expected to continue as a focus due to the stock being considered undervalued relative to its Net Asset Value.
Share Issuance
- On December 31, 2023, Series 2 Preferred Stock converted into 13,787,462 shares of common stock, including 1,253,404 shares issued as dividends to Preferred PIPE Investors.
- Preferred equity conversions to common stock were highly dilutive year-to-date as of September 2024.
- In September 2024, the company secured a $40.4 million line of credit, intended to enable cash redemptions of preferred stock and mitigate future dilution.
Inbound Investments
- Mobile Infrastructure secured a $40.4 million line of credit from Harvest Small Cap Partners in September 2024, which provides capital flexibility for preferred stock redemptions and supports the share repurchase plan.
- In October 2025, the company closed a $100 million asset-backed securitization, secured by 19 parking assets, to repay approximately $84.4 million of near-term debt.
- The business combination with Fifth Wall Acquisition Corp. III, announced in December 2022, included a $10 million PIPE investment from No Street Capital.
Outbound Investments
- As of March 2, 2026, the company had completed over $30 million in sales of non-core assets as part of its asset rotation strategy.
- Mobile Infrastructure continues to target $100 million in aggregate non-core asset sales to optimize its portfolio over the longer term.
- Proceeds from asset sales in the fourth quarter of 2025 were used to pay down approximately $10 million on the company's line of credit.
Capital Expenditures
- Capital expenditures totaled $1.031 million in the third quarter of 2025.
- Capital expenditures amounted to $0.463 million in the third quarter of 2024.
- The primary focus of capital deployment involves optimizing asset value through strategies such as improving Revenue per Available Stall, converting leases to management contracts, and managing pricing and operating costs.
Peer Outperformance in Highways & Railtracks
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Marine Transportation | 5 | 25.1% | 30.2% | 102.9% | MATX 155% · KEX 103% |
| Construction Machinery & Heavy Transportation Equipment | 13 | 6.3% | 55.5% | 95.0% | ALSN 255% · WAB 204% · CAT 192% |
| Construction & Engineering | 29 | -21.3% | 79.9% | 94.8% | FIX 895% · STRL 799% · AGX 526% |
| Aerospace & Defense | 54 | -12.6% | 55.7% | 49.5% | ATI 849% · FTAI 756% · HWM 509% |
| Trading Companies & Distributors | 19 | 5.6% | 30.7% | 33.8% | DXPE 276% · AIT 184% · URI 177% |
| Industrial Machinery & Supplies & Components | 71 | 0.3% | 46.1% | 29.7% | CRS 797% · MLI 298% · SYM 249% |
| Rail Transportation | 7 | 34.9% | 53.7% | 27.8% | CSX 54% · UNP 40% · NSC 28% |
| Diversified Support Services | 33 | 14.8% | 36.8% | 21.3% | CXW 195% · OPLN 143% · CTAS 115% |
| Building Products | 34 | -6.6% | 9.3% | 10.6% | MOD 714% · GFF 345% · TT 126% |
| Cargo Ground Transportation | 16 | 27.9% | 14.6% | 4.8% | XPO 269% · R 250% · ARCB 25% |
| Industrial Conglomerates | 17 | 14.8% | -1.6% | -1.3% | CSW 103% · CSL 72% · DD 65% |
| Office Services & Supplies | 10 | 20.8% | 22.5% | -2.6% | PBI 158% · TILE 140% · HNI 40% |
| Electrical Components & Equipment | 39 | -14.2% | 56.2% | -12.1% | POWL 1360% · VRT 543% · BE 424% |
| Data Processing & Outsourced Services | 6 | -11.8% | 5.0% | -12.7% | EXLS 59% · BR 22% · G -12% |
| Research & Consulting Services | 13 | 4.9% | -15.5% | -22.6% | HURN 227% · FCN 36% · BAH 14% |
| Agricultural & Farm Machinery | 16 | 7.2% | -7.4% | -27.4% | BLBD 171% · DE 99% · TTC 15% |
| Security & Alarm Services | 9 | -51.2% | 10.7% | -28.0% | BCO 65% |
| Environmental & Facilities Services | 29 | -31.2% | 25.5% | -28.1% | GEO 163% · CLH 162% · RSG 100% |
| Passenger Airlines | 11 | 2.6% | 64.1% | -34.8% | LTM 3100% · UAL 110% · DAL 100% |
| Air Freight & Logistics | 12 | -28.8% | -7.3% | -39.1% | FDX 80% · EXPD 60% · CHRW 54% |
| Human Resource & Employment Services | 22 | 19.2% | -6.0% | -42.4% | ADP 50% · FA 22% · PAYX 13% |
| Passenger Ground Transportation | 3 | -14.1% | 42.9% | -57.4% | UBER 46% · CAR -57% · LYFT -67% |
| Airport Services | 4 | -49.1% | -62.8% | -86.2% | JOBY -47% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Mobile Infrastructure Earnings Notes | 12/16/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 8.15 |
| Mkt Cap | 0.3 |
| Rev LTM | 72 |
| Op Inc LTM | 2 |
| FCF LTM | -3 |
| FCF 3Y Avg | 9 |
| CFO LTM | 10 |
| CFO 3Y Avg | 22 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.5% |
| Rev Chg 3Y Avg | 5.0% |
| Rev Chg Q | 0.7% |
| QoQ Delta Rev Chg LTM | 0.1% |
| Op Inc Chg LTM | 23.9% |
| Op Inc Chg 3Y Avg | -1.9% |
| Op Mgn LTM | 3.8% |
| Op Mgn 3Y Avg | -5.9% |
| QoQ Delta Op Mgn LTM | 0.0% |
| CFO/Rev LTM | 3.3% |
| CFO/Rev 3Y Avg | 1.8% |
| FCF/Rev LTM | -2.8% |
| FCF/Rev 3Y Avg | -7.9% |
Price Behavior
| Market Price | $2.29 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 08/28/2023 | |
| Distance from 52W High | -33.2% | |
| 50 Days | 200 Days | |
| DMA Price | $2.74 | $2.40 |
| DMA Trend | up | indeterminate |
| Distance from DMA | -16.3% | -4.5% |
| 3M | 1YR | |
| Volatility | 55.6% | 75.0% |
| Downside Capture | -48.94 | 84.86 |
| Upside Capture | -63.81 | 32.32 |
| Correlation (S&P 500) | 2.1% | 5.8% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.53 | 0.45 | 0.25 | -0.21 | 0.32 | 0.58 |
| Up Beta | 13.16 | 2.61 | -0.40 | -2.26 | -0.76 | 0.63 |
| Down Beta | -1.00 | -0.02 | 2.29 | 1.16 | 1.41 | 1.08 |
| Up Capture | -50% | -39% | 57% | 17% | 6% | 3% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 6 | 16 | 29 | 55 | 107 | 353 |
| Down Capture | 119% | 107% | -156% | -90% | 59% | 67% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 16 | 25 | 32 | 65 | 133 | 373 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BEEP | |
|---|---|---|---|---|
| BEEP | -32.8% | 75.0% | -0.22 | - |
| Sector ETF (XLI) | 7.4% | 17.8% | 0.24 | 4.6% |
| Equity (SPY) | 9.5% | 13.6% | 0.41 | 7.9% |
| Gold (GLD) | 3.6% | 28.7% | 0.11 | 1.6% |
| Commodities (DBC) | 37.7% | 21.2% | 1.40 | -1.4% |
| Real Estate (VNQ) | 12.0% | 14.2% | 0.55 | 6.3% |
| Bitcoin (BTCUSD) | -20.8% | 43.3% | -0.42 | 8.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BEEP | |
|---|---|---|---|---|
| BEEP | -26.0% | 75.4% | -0.31 | - |
| Sector ETF (XLI) | 10.8% | 17.7% | 0.45 | 12.0% |
| Equity (SPY) | 11.3% | 17.3% | 0.48 | 12.9% |
| Gold (GLD) | 17.5% | 19.1% | 0.74 | 0.8% |
| Commodities (DBC) | 8.0% | 19.6% | 0.29 | -1.6% |
| Real Estate (VNQ) | 1.2% | 18.9% | -0.05 | 10.9% |
| Bitcoin (BTCUSD) | 5.9% | 51.5% | 0.29 | 5.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BEEP | |
|---|---|---|---|---|
| BEEP | -14.0% | 75.4% | -0.31 | - |
| Sector ETF (XLI) | 12.9% | 20.1% | 0.56 | 12.0% |
| Equity (SPY) | 14.9% | 18.0% | 0.70 | 12.9% |
| Gold (GLD) | 12.0% | 16.5% | 0.59 | 0.8% |
| Commodities (DBC) | 7.6% | 18.1% | 0.33 | -1.6% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.23 | 10.9% |
| Bitcoin (BTCUSD) | 61.3% | 66.2% | 1.01 | 5.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 10/21/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/11/2026 | 0.4% | -7.6% | 2.9% |
| 5/12/2026 | -0.3% | 16.0% | -8.2% |
| 3/2/2026 | 0.3% | -13.4% | -26.6% |
| 11/10/2025 | -0.3% | -8.6% | -8.0% |
| 8/12/2025 | -1.1% | -2.4% | -3.4% |
| 5/12/2025 | -5.0% | -4.5% | 1.5% |
| 3/10/2025 | 10.3% | 13.5% | 22.4% |
| 11/13/2024 | -8.4% | 1.6% | 34.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 5 | 4 | 7 |
| # Negative | 7 | 8 | 5 |
| Median Positive | 1.4% | 7.5% | 17.9% |
| Median Negative | -1.9% | -5.6% | -8.0% |
| Max Positive | 10.3% | 16.0% | 34.0% |
| Max Negative | -8.4% | -13.4% | -26.6% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/11/2026 | 0.4% | -7.6% | 2.9% |
| 5/12/2026 | -0.3% | 16.0% | -8.2% |
| 3/2/2026 | 0.3% | -13.4% | -26.6% |
| 11/10/2025 | -0.3% | -8.6% | -8.0% |
| 8/12/2025 | -1.1% | -2.4% | -3.4% |
| 5/12/2025 | -5.0% | -4.5% | 1.5% |
| 3/10/2025 | 10.3% | 13.5% | 22.4% |
| 11/13/2024 | -8.4% | 1.6% | 34.0% |
| 8/13/2024 | -4.8% | -4.1% | 17.9% |
| 5/15/2024 | 1.4% | 0.0% | 0.3% |
| 3/14/2024 | -1.9% | -6.2% | -3.5% |
| 11/14/2023 | 4.0% | -5.0% | 19.4% |
| SUMMARY STATS | |||
| # Positive | 5 | 4 | 7 |
| # Negative | 7 | 8 | 5 |
| Median Positive | 1.4% | 7.5% | 17.9% |
| Median Negative | -1.9% | -5.6% | -8.0% |
| Max Positive | 10.3% | 16.0% | 34.0% |
| Max Negative | -8.4% | -13.4% | -26.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/11/2026 | 10-Q |
| 03/31/2026 | 05/12/2026 | 10-Q |
| 12/31/2025 | 03/05/2026 | 10-K |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/12/2025 | 10-Q |
| 03/31/2025 | 05/13/2025 | 10-Q |
| 12/31/2024 | 03/11/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 03/22/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 03/31/2023 | 07/11/2023 | 424B3 |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/11/2026 | 10-Q |
| 03/31/2026 | 05/12/2026 | 10-Q |
| 12/31/2025 | 03/05/2026 | 10-K |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/12/2025 | 10-Q |
| 03/31/2025 | 05/13/2025 | 10-Q |
| 12/31/2024 | 03/11/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 03/22/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 03/31/2023 | 07/11/2023 | 424B3 |
Recent Forward Guidance
Updated 11/2/2026Latest: Q2 2026 Earnings Reported 8/11/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 NOI | Reported | 21.50 Mil | 22.25 Mil | 23.00 Mil | 0 | Affirmed | Guidance: 22.25 Mil for 2026 | |
| 2026 Revenue | Reported | 35.00 Mil | 36.50 Mil | 38.00 Mil | 0 | Affirmed | Guidance: 36.50 Mil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 15.00 Mil | 15.75 Mil | 16.50 Mil | 0 | Affirmed | Guidance: 15.75 Mil for 2026 | |
Prior: Q1 2026 Earnings Reported 5/12/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 NOI | Reported | 21.50 Mil | 22.25 Mil | 23.00 Mil | 0 | Affirmed | Guidance: 22.25 Mil for 2026 | |
| 2026 Revenue | Reported | 35.00 Mil | 36.50 Mil | 38.00 Mil | 0 | Affirmed | Guidance: 36.50 Mil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 15.00 Mil | 15.75 Mil | 16.50 Mil | 0 | Affirmed | Guidance: 15.75 Mil for 2026 | |
Q4 2025 Earnings Reported 3/2/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 NOI | Reported | 21.50 Mil | 22.25 Mil | 23.00 Mil | 8.5% | Higher New | Guidance: 20.50 Mil for 2025 | |
| 2026 Revenue | Reported | 35.00 Mil | 36.50 Mil | 38.00 Mil | 4.3% | Higher New | Guidance: 35.00 Mil for 2025 | |
| 2026 Adjusted EBITDA | Reported | 15.00 Mil | 15.75 Mil | 16.50 Mil | 12.5% | Higher New | Guidance: 14.00 Mil for 2025 | |
Q3 2025 Earnings Reported 11/10/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 NOI | Reported | 20.00 Mil | 20.50 Mil | 21.00 Mil | -15.5% | Lowered | Guidance: 24.25 Mil for 2025 | |
| 2025 Non-Core Asset Divestiture | Reported | 30.00 Mil | ||||||
| 2025 Revenue | Reported | 34.50 Mil | 35.00 Mil | 35.50 Mil | -9.1% | Lowered | Guidance: 38.50 Mil for 2025 | |
| 2025 Adjusted EBITDA | Reported | 13.50 Mil | 14.00 Mil | 14.50 Mil | ||||
Insider Activity
Updated 8/20/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Garfinkle, David | Direct | Buy | 9022025 | 3.83 | 2,580 | 9,891 | 234,907 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Garfinkle, David | Direct | Buy | 9022025 | 3.83 | 2,580 | 9,891 | 234,907 | Form |
Investor Activity (13F)
Updated Nov 6, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Highways & Railtracks Resources |
| Roads & Bridges |
| Railway Age |
| Global Railway Review |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.