PAR Technology (PAR)
Market Price (12/26/2025): $37.215 | Market Cap: $1.5 BilSector: Information Technology | Industry: Application Software
PAR Technology (PAR)
Market Price (12/26/2025): $37.215Market Cap: $1.5 BilSector: Information TechnologyIndustry: Application Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 40% | Weak multi-year price returns2Y Excs Rtn is -61%, 3Y Excs Rtn is -8.6% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -67 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -15% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -49% | Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 19% | Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -2.7%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -4.7% |
| Megatrend and thematic driversMegatrends include Cloud Computing, Fintech & Digital Payments, and E-commerce & DTC Adoption. Themes include Software as a Service (SaaS), Show more. | 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 -9.8% | |
| Significant short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 15.19 | ||
| Key risksPAR key risks include [1] intense competition, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 40% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -49% |
| Megatrend and thematic driversMegatrends include Cloud Computing, Fintech & Digital Payments, and E-commerce & DTC Adoption. Themes include Software as a Service (SaaS), Show more. |
| Weak multi-year price returns2Y Excs Rtn is -61%, 3Y Excs Rtn is -8.6% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 19% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -67 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -15% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -2.7%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -4.7% |
| 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 -9.8% |
| Significant short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 15.19 |
| Key risksPAR key risks include [1] intense competition, Show more. |
Why The Stock Moved
Qualitative Assessment
AI Analysis | Feedback
1. PAR Technology's Q3 2025 Annual Recurring Revenue (ARR) Missed Analyst Estimates. Despite overall revenue growth, the reported ARR of $298.4 million for Q3 2025 fell short of analyst expectations of $303.9 million, indicating a potential slowdown in a key growth metric and reflecting mixed investor sentiment. The company's organic ARR growth of 15% also remained below its stated target of 20%+.
2. Multiple Analyst Price Target Downgrades Signaled Reduced Confidence. During the period, several analyst firms lowered their price targets for PAR Technology. Notably, Goldman Sachs maintained a "Hold" rating but reduced its price target from $50 to $38 on October 13, 2025. Needham also lowered its price target from $90 to $55 in November 2025, and BTIG reduced its target from $65 to $60, suggesting a more conservative outlook on the company's future stock performance.
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Stock Movement Drivers
Fundamental Drivers
The -6.7% change in PAR stock from 9/25/2025 to 12/25/2025 was primarily driven by a -11.3% change in the company's P/S Multiple.| 9252025 | 12252025 | Change | |
|---|---|---|---|
| Stock Price ($) | 39.90 | 37.22 | -6.72% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 418.02 | 440.45 | 5.37% |
| P/S Multiple | 3.87 | 3.43 | -11.33% |
| Shares Outstanding (Mil) | 40.52 | 40.58 | -0.15% |
| Cumulative Contribution | -6.72% |
Market Drivers
9/25/2025 to 12/25/2025| Return | Correlation | |
|---|---|---|
| PAR | -6.7% | |
| Market (SPY) | 4.9% | 28.5% |
| Sector (XLK) | 5.3% | 16.3% |
Fundamental Drivers
The -45.0% change in PAR stock from 6/26/2025 to 12/25/2025 was primarily driven by a -51.6% change in the company's P/S Multiple.| 6262025 | 12252025 | Change | |
|---|---|---|---|
| Stock Price ($) | 67.73 | 37.22 | -45.05% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 383.77 | 440.45 | 14.77% |
| P/S Multiple | 7.09 | 3.43 | -51.63% |
| Shares Outstanding (Mil) | 40.17 | 40.58 | -1.02% |
| Cumulative Contribution | -45.05% |
Market Drivers
6/26/2025 to 12/25/2025| Return | Correlation | |
|---|---|---|
| PAR | -45.0% | |
| Market (SPY) | 13.1% | 25.7% |
| Sector (XLK) | 16.7% | 14.4% |
Fundamental Drivers
The -50.4% change in PAR stock from 12/25/2024 to 12/25/2025 was primarily driven by a -59.9% change in the company's P/S Multiple.| 12252024 | 12252025 | Change | |
|---|---|---|---|
| Stock Price ($) | 75.11 | 37.22 | -50.45% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 314.88 | 440.45 | 39.88% |
| P/S Multiple | 8.56 | 3.43 | -59.91% |
| Shares Outstanding (Mil) | 35.87 | 40.58 | -13.15% |
| Cumulative Contribution | -51.30% |
Market Drivers
12/25/2024 to 12/25/2025| Return | Correlation | |
|---|---|---|
| PAR | -50.4% | |
| Market (SPY) | 15.8% | 52.2% |
| Sector (XLK) | 22.2% | 47.2% |
Fundamental Drivers
The 53.1% change in PAR stock from 12/26/2022 to 12/25/2025 was primarily driven by a 76.8% change in the company's P/S Multiple.| 12262022 | 12252025 | Change | |
|---|---|---|---|
| Stock Price ($) | 24.31 | 37.22 | 53.11% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 339.74 | 440.45 | 29.64% |
| P/S Multiple | 1.94 | 3.43 | 76.79% |
| Shares Outstanding (Mil) | 27.11 | 40.58 | -49.69% |
| Cumulative Contribution | 15.30% |
Market Drivers
12/26/2023 to 12/25/2025| Return | Correlation | |
|---|---|---|
| PAR | -16.5% | |
| Market (SPY) | 48.3% | 51.2% |
| Sector (XLK) | 53.5% | 46.7% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PAR Return | 104% | -16% | -51% | 67% | 67% | -49% | 21% |
| Peers Return | � | � | 4% | -1% | 39% | 7% | � |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 18% | 115% |
Monthly Win Rates [3] | |||||||
| PAR Win Rate | 75% | 50% | 33% | 58% | 67% | 25% | |
| Peers Win Rate | � | 52% | 52% | 53% | 60% | 50% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| PAR Max Drawdown | -65% | -21% | -61% | 0% | -8% | -56% | |
| Peers Max Drawdown | � | � | -32% | -23% | -12% | -28% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: TOST, AGYS, VYX, LDOS, CACI.
[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] 2025 data is for the year up to 12/24/2025 (YTD)
How Low Can It Go
| Event | PAR | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -77.0% | -25.4% |
| % Gain to Breakeven | 335.3% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -69.2% | -33.9% |
| % Gain to Breakeven | 224.6% | 51.3% |
| Time to Breakeven | 141 days | 148 days |
| 2018 Correction | ||
| % Loss | -37.2% | -19.8% |
| % Gain to Breakeven | 59.2% | 24.7% |
| Time to Breakeven | 91 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -72.9% | -56.8% |
| % Gain to Breakeven | 269.2% | 131.3% |
| Time to Breakeven | 3,195 days | 1,480 days |
Compare to ADSK, HIT, AIB, BMR, GIT
In The Past
PAR Technology's stock fell -77.0% during the 2022 Inflation Shock from a high on 2/22/2021. A -77.0% loss requires a 335.3% gain to breakeven.
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AI Analysis | Feedback
- PAR Technology is like the Oracle for restaurant technology and operations.
- PAR Technology is like the Salesforce for restaurant customer loyalty and engagement.
AI Analysis | Feedback
- Brink POS: A cloud-based point-of-sale software solution designed for the restaurant industry.
- Punchh: An AI-powered platform providing loyalty, offers, and engagement solutions for restaurants and convenience stores.
- Restaurant Hardware: Offers a range of point-of-sale (POS) hardware terminals and peripherals built for demanding restaurant environments.
- Government Solutions: Provides advanced command and control (C2) software, intelligence, surveillance, and reconnaissance (ISR) systems, and specialized hardware to government agencies.
AI Analysis | Feedback
PAR Technology (symbol: PAR) primarily sells its products and services to other companies and government entities, rather than directly to individuals.
Major Customers:
-
Restaurant and Hospitality Companies: PAR Technology is a leading provider of point-of-sale hardware and software (Brink POS), loyalty and engagement platforms (Punchh), and enterprise restaurant management solutions. It serves a broad customer base of Quick Service (QSR) and Fast Casual restaurant brands. Major public customer companies include:
- Starbucks Corporation (Symbol: SBUX)
- Papa John's International, Inc. (Symbol: PZZA)
- Yum! Brands, Inc. (Symbol: YUM) - Parent company of well-known brands such as Taco Bell, Pizza Hut, and KFC.
- Restaurant Brands International Inc. (Symbol: RBI) - Parent company of brands like Arby's (through Inspire Brands), Burger King, and Tim Hortons.
- Additionally, PAR serves numerous other prominent restaurant chains that are privately held, such as Five Guys, MOD Pizza, Jimmy John's, Qdoba, and Subway.
- United States Government: Through its Government Solutions segment (PAR Government), the company is a long-standing and trusted provider of intelligence, surveillance, and reconnaissance (ISR) solutions, data analytics, and mission systems. Its primary customer in this segment is the U.S. Department of Defense and the Intelligence Community. As a government entity, it does not have a public stock symbol.
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- Amazon.com, Inc. (AMZN)
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Savneet Singh, Chief Executive Officer and President
Savneet Singh joined PAR Technology's Board of Directors in April 2018 and has served as Chief Executive Officer and President since March 2019. He is credited with leading PAR's transformation from a distressed provider of hardware to a fast-growing SaaS business, significantly increasing its market capitalization. Prior to PAR, Mr. Singh was a partner at CoVenture, LLC, a multi-asset manager with funds in venture capital, direct lending, and cryptocurrency. He co-founded Tera-Holdings, LLC, a holding company of niche software businesses, from 2017 to 2018. In 2009, he co-founded GBI, LLC (formerly Gold Bullion International, LLC), an electronic platform for trading and storing physical precious metals, where he served as COO, CEO, and President from 2009 to 2017. Mr. Singh also worked in investment banking at Morgan Stanley and has served on the boards of various public and private companies.
Bryan Menar, Chief Financial Officer
Bryan Menar was appointed Chief Financial Officer of PAR Technology, effective January 3, 2017. Before joining PAR, he was the Vice President, Financial Planning & Analysis (FP&A) for Chobani, LLC, where he was responsible for all corporate financial analysis, including forecasting, budgeting, business reviews, and financial presentations. Mr. Menar has held senior finance roles at JC Jones & Associates, Goldman Sachs & Co., and Ernst & Young LLP. His experience also includes serving as a turnaround advisor for small to middle-market clients and leading system integration for the private equity division of a leading investment bank.
Steven Berkovitz, Chief Technology Officer
Steven Berkovitz is responsible for software engineering across PAR's Software as a Service products. Previously, he served as Chief Platform Officer at Tecsys, where he oversaw the development of their retail and unified commerce products and led the SaaS transition of their supply chain software suite. Mr. Berkovitz also co-founded and was the CTO of OrderDynamics, a SaaS software product specializing in retail order management and eCommerce, which was scaled globally and went through two acquisitions.
Beth Codner, Chief Human Resources Officer
Beth Codner leads global people strategy, HR operations, culture, and organizational transformation at PAR Technology. She brings over 25 years of experience as a human-capital leader across various industries, including consumer goods, hospitality, life sciences, advanced manufacturing, and technology.
Cathy King, Chief Legal Officer & Corporate Secretary
Cathy King serves as the Chief Legal Officer and Corporate Secretary for PAR Technology.
AI Analysis | Feedback
The key risks to PAR Technology (symbol: PAR) involve intense market competition, ongoing profitability challenges coupled with a significant debt load, and substantial cybersecurity threats.
1. Intense Market Competition
PAR Technology operates in a highly competitive restaurant technology sector, facing pressure from a multitude of established players and emerging companies. Competitors such as Toast, Olo, Lightspeed, Revel, TouchBistro, Fiserv's Clover, Shift4 Payments, and Oracle are actively expanding their market presence and engaging in acquisitions, which intensifies the competition and can compress PAR's margins. Additionally, large enterprise customers, which PAR targets, possess the capacity to develop their own in-house technology solutions, posing an alternative to PAR's offerings.
2. Profitability Challenges and Debt Load
Despite experiencing revenue growth, PAR Technology has consistently reported net losses and negative operating margins, indicating a struggle to achieve consistent profitability. For instance, the company reported a total net loss for the first nine months of fiscal year 2025. Further, PAR carries a considerable debt burden, including convertible notes maturing in 2026 and 2027, and its net-debt-to-EBITDA ratio suggests an overleveraged financial position.
3. Cybersecurity Risks and Data Protection
As a provider of point-of-sale systems and payment processing, PAR Technology handles a large volume of sensitive customer and payment data, making it a prominent target for cyberattacks. The company's regulatory filings explicitly highlight the "legal, reputational and financial risks" associated with failing to protect customer and company data from security breaches and cyberattacks. The evolving threat landscape, marked by increasing cyberattacks and ransomware incidents, poses a significant and escalating risk, with data breaches in the hospitality industry potentially leading to substantial financial and reputational damage.
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PAR Technology (symbol: PAR) is expected to drive future revenue growth over the next 2-3 years through several key strategies, including the expansion of its subscription services, increased multi-product adoption, securing large enterprise deals, and the integration of artificial intelligence into its offerings.
Here are 4 expected drivers of future revenue growth:
- Growth in Subscription Services and Organic Annual Recurring Revenue (ARR): PAR Technology has a stated target of achieving mid-teens organic annual recurring revenue (ARR) growth. This focus on recurring revenue streams, particularly from subscription services, is a significant driver, with subscription service revenue representing 63% of total revenue in Q3 2025 and growing 25% year-over-year, including 16% organic growth. The company anticipates continued ARR growth in the fourth quarter, aiming to maintain mid-teens organic growth.
- Expansion Through Multi-Product Deals and Cross-Selling: The company's "better together thesis" is a core strategy, driving both multi-product deals and cross-selling into its existing customer base. This approach aims to enhance customer lifetime value and increase revenue per customer by providing integrated solutions across PAR's platform.
- Securing Large Tier 1 Customer Wins: PAR Technology is actively pursuing and has a growing pipeline of large Tier 1 opportunities and mega Tier 1 point-of-sale (POS) deals. Success in these enterprise-scale rollouts, particularly with quick-service restaurant (QSR) clients, is anticipated to contribute significantly to revenue growth. The expected annual increase from all requests for proposals (RFPs) is estimated to be close to $60 million.
- Innovation and Adoption of AI-driven Products (PAR AI): The introduction of PAR AI, an AI-native intelligence layer embedded directly into PAR's product suite, is expected to be a key differentiator. This technology aims to deliver real-time intelligence, drive better outcomes for enterprise customers, win new market share, and increase Average Revenue Per User (ARPU) with existing customers. The company is focused on AI-native workflow development and has introduced new AI-driven products.
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Share Repurchases
- In February 2020, PAR Technology utilized approximately $66.25 million from a convertible note offering and delivered 722,423 shares of common stock to repurchase $66.25 million aggregate principal amount of its 4.500% Convertible Senior Notes due 2024.
Share Issuance
- In February 2020, PAR Technology priced a private offering of $105 million aggregate principal amount of 2.875% Convertible Senior Notes due 2026.
- As part of the funding for the Punchh acquisition in April 2021, the company sold $160 million in common stock to PAR Act III, LLC and accounts advised by T. Rowe Price Associates.
- In March 2024, PAR issued 5,174,638 shares of common stock at $38.65 per share, resulting in net proceeds of approximately $194.4 million, partially to fund the Stuzo acquisition.
Inbound Investments
- In April 2021, PAR Act III, LLC and T. Rowe Price Associates made a strategic investment by purchasing $160 million in PAR common stock to help fund the Punchh acquisition.
Outbound Investments
- PAR Technology acquired Punchh, a loyalty and guest engagement company, for approximately $500 million in April 2021.
- In 2024, PAR made several significant acquisitions including Stuzo for about $190 million in March, TASK Group for $206 million in July, and Delaget for $132 million in December.
- The company divested its Government segment in June and July 2024 to become a pure-play foodservice technology company.
Capital Expenditures
- Capital expenditures for fiscal years ending December 2020 to 2024 averaged $1.977 million, with a peak of $5.018 million in December 2023.
- For the nine months ended September 30, 2025, capital expenditures included $3 million for fixed assets and $4 million for developed technologies associated with its software platforms.
- The primary focus of capital expenditures is on developing technology for the company's software platforms.
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to PAR. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | ENPH | Enphase Energy | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 13.9% | 13.9% | -0.9% |
| 11262025 | PD | PagerDuty | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 12.0% | 12.0% | 0.0% |
| 11212025 | CRM | Salesforce | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 17.0% | 17.0% | -0.1% |
| 11212025 | HUBS | HubSpot | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 11.9% | 11.9% | 0.0% |
| 11212025 | FIVN | Five9 | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 4.1% | 4.1% | 0.0% |
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Peer Comparisons for PAR Technology
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 78.66 |
| Mkt Cap | 7.7 |
| Rev LTM | 4,256 |
| Op Inc LTM | 140 |
| FCF LTM | 310 |
| FCF 3Y Avg | 155 |
| CFO LTM | 336 |
| CFO 3Y Avg | 236 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 15.2% |
| Rev Chg 3Y Avg | 16.0% |
| Rev Chg Q | 13.7% |
| QoQ Delta Rev Chg LTM | 3.2% |
| Op Mgn LTM | 6.6% |
| Op Mgn 3Y Avg | 3.2% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 8.2% |
| CFO/Rev 3Y Avg | 7.0% |
| FCF/Rev LTM | 7.3% |
| FCF/Rev 3Y Avg | 6.1% |
Price Behavior
| Market Price | $37.22 | |
| Market Cap ($ Bil) | 1.5 | |
| First Trading Date | 12/16/1988 | |
| Distance from 52W High | -51.0% | |
| 50 Days | 200 Days | |
| DMA Price | $35.75 | $52.12 |
| DMA Trend | down | down |
| Distance from DMA | 4.1% | -28.6% |
| 3M | 1YR | |
| Volatility | 52.3% | 50.4% |
| Downside Capture | 129.04 | 177.20 |
| Upside Capture | 67.58 | 81.74 |
| Correlation (SPY) | 29.1% | 52.1% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.87 | 1.10 | 1.05 | 1.26 | 1.32 | 1.58 |
| Up Beta | -2.34 | -0.88 | -0.44 | 0.82 | 1.35 | 1.47 |
| Down Beta | 1.32 | 2.60 | 2.12 | 1.81 | 1.30 | 1.54 |
| Up Capture | 294% | 34% | -28% | -1% | 60% | 482% |
| Bmk +ve Days | 13 | 26 | 39 | 74 | 142 | 427 |
| Stock +ve Days | 10 | 20 | 24 | 55 | 115 | 387 |
| Down Capture | 285% | 143% | 190% | 204% | 136% | 110% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 10 | 22 | 39 | 70 | 132 | 356 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of PAR With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| PAR | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -50.7% | 26.7% | 19.2% | 71.9% | 8.9% | 6.0% | -10.1% |
| Annualized Volatility | 50.1% | 27.6% | 19.5% | 19.3% | 15.3% | 17.1% | 35.0% |
| Sharpe Ratio | -1.24 | 0.84 | 0.78 | 2.69 | 0.36 | 0.18 | -0.12 |
| Correlation With Other Assets | 47.0% | 52.1% | -3.6% | 17.6% | 44.7% | 30.8% | |
ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data
| Comparison of PAR With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| PAR | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -10.7% | 19.0% | 14.9% | 18.7% | 11.7% | 4.8% | 32.7% |
| Annualized Volatility | 54.1% | 24.7% | 17.1% | 15.5% | 18.7% | 18.9% | 48.7% |
| Sharpe Ratio | -0.00 | 0.69 | 0.70 | 0.97 | 0.51 | 0.17 | 0.60 |
| Correlation With Other Assets | 49.9% | 53.2% | 6.2% | 11.3% | 44.3% | 30.7% | |
ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of PAR With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| PAR | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 19.4% | 22.3% | 14.7% | 14.9% | 6.9% | 5.2% | 69.3% |
| Annualized Volatility | 54.9% | 24.2% | 18.0% | 14.8% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.55 | 0.84 | 0.70 | 0.83 | 0.31 | 0.22 | 0.90 |
| Correlation With Other Assets | 46.6% | 48.7% | 4.5% | 15.0% | 43.0% | 21.9% | |
ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/6/2025 | 16.6% | 17.8% | 7.1% |
| 8/8/2025 | -19.5% | -10.7% | -17.3% |
| 5/9/2025 | 3.7% | 11.3% | 8.3% |
| 2/28/2025 | 13.2% | 1.9% | 1.2% |
| 11/8/2024 | 11.6% | 9.7% | 16.0% |
| 8/8/2024 | 10.3% | 15.9% | 17.8% |
| 5/9/2024 | -7.3% | -0.8% | -4.1% |
| 2/27/2024 | -4.2% | -6.9% | -5.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 14 | 11 |
| # Negative | 9 | 6 | 9 |
| Median Positive | 9.3% | 9.6% | 16.0% |
| Median Negative | -6.6% | -8.5% | -6.3% |
| Max Positive | 16.6% | 17.8% | 25.3% |
| Max Negative | -19.5% | -10.7% | -25.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11062025 | 10-Q 9/30/2025 |
| 6302025 | 8082025 | 10-Q 6/30/2025 |
| 3312025 | 5092025 | 10-Q 3/31/2025 |
| 12312024 | 3032025 | 10-K 12/31/2024 |
| 9302024 | 11082024 | 10-Q 9/30/2024 |
| 6302024 | 8082024 | 10-Q 6/30/2024 |
| 3312024 | 5092024 | 10-Q 3/31/2024 |
| 12312023 | 2272024 | 10-K 12/31/2023 |
| 9302023 | 11092023 | 10-Q 9/30/2023 |
| 6302023 | 8092023 | 10-Q 6/30/2023 |
| 3312023 | 5102023 | 10-Q 3/31/2023 |
| 12312022 | 3012023 | 10-K 12/31/2022 |
| 9302022 | 11092022 | 10-Q 9/30/2022 |
| 6302022 | 8092022 | 10-Q 6/30/2022 |
| 3312022 | 5102022 | 10-Q 3/31/2022 |
| 12312021 | 3012022 | 10-K 12/31/2021 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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