Quality Investor

PowerFleet, Inc.

Rank #264HypergrowthWatchlistCompare with other stocks

AIOT · Nasdaq · Technology

PowerFleet, Inc. (AIOT) — Rank #264 by gross profitability (GP/assets 0.26) · ROE -4.3% · Piotroski F-Score 7 / 9.

As-of 2026-10-30 · CIK 0001774170 · all metrics point-in-time as of the filing date.

About

PowerFleet, Inc. provides artificial intelligence-of-things (AIoT) solutions for managing high-value enterprise and mid-market assets in North America, Israel, Africa, Europe, the Middle East, Australia, and internationally.

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It offers unity solution portfolio, which includes unity platform that enables integration with AIoT devices and third-party business systems to a data highway that powers artificial intelligence-driven insights to help customers save lives, time, and money; software as a service based unity modules, which comprises vehicle, video, and in-warehouse IoT for customers to gain visibility and AI-powered insights into their people, assets, and business processes to manage utilization and maintenance, safety, fuel and energy management, and compliance and high-risk incidents; and open application programming interfaces for additional integrations and development to enhance other enterprise management systems and third-party applications. The company also provides hosting, maintenance, and customer support and consulting services; and software as a service, such as system monitoring, help desk technical support, escalation procedure development, routine diagnostic data analysis, and software update services. It offers its products under the Powerfleet, Pointer, Cellocator, MiX by Powerfleet, and Fleet Complete brands. The company markets and sells its wireless solutions to a range of customers in the commercial and government sectors, including construction and heavy equipment, distribution, field services, leasing and car rental, government and public safety, manufacturing and automotive, oil and gas, chemical, transportation and logistics, utilities and telecommunications, and cold chain logistics. The company was formerly known as I.D. Systems, Inc. and changed its name to PowerFleet, Inc. in October 2019. PowerFleet, Inc.

was incorporated in 1993 and is headquartered in Woodcliff Lake, New Jersey.

Industry
Software - Application
Sector
Technology
State
DE
Filer Category
Accelerated filer
Fiscal Year End
March 31

Company Snapshot

P/S is the primary valuation lens — earnings are reinvested, not available for P/E.

Market Cap

—

P/E (annual)

—

P/S (annual)

—

P/B

—

P/OCF (annual)

—

Shareholder Yield

—

Employees

2,658

Industry

Software - Application

Exchange

Nasdaq

11/12

Flags passed

AIOT passes 11/12 quality flags

1 caution to review

  • CAUTION
    Dilution above 2%

    Annual share count increase exceeds 2%. May be acceptable for high-growth companies funding talent via stock compensation

  • PASS
    Gross margin holding
  • PASS
    FCF not negative from investment
  • PASS
    Disclosure consistent
  • PASS
    Revenue not declining
  • PASS
    Operating margin holding
  • PASS
    Free cash flow intact
  • PASS
    Passes safety gate
  • PASS
    Balance sheet stable
  • PASS
    No competitive retreat
  • PASS
    SBC not compressing margin
  • PASS
    No valuation convergence

Strengths Deferred revenue growing

A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.

Quality Profile

Profitability

1/1 pass
GP / assets
0.26
Return on equity
-4.3%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.98
Current ratio
1.10×
Net cash
-$252.25M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
1.7%

Growth

1/2 pass
Revenue growth
22.4%
Piotroski F-Score
7 / 9
Share dilution
11.6%

Revenue growth and the path to profitability (margin trend) are the primary reads at this stage.

Profitability

Does it make money well?

No warning flags · GP/assets 0.26

Gross profitability (GP / assets)

0.26

Primary signal (Novy-Marx).

4th of 5 SIC 3669 peers

Return on equity

-4.3%

Gross margin

55.5%

2nd of 5 SIC 3669 peers

Revenue growth (YoY)

22.4%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320252026
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Cash Flow Health

Is the cash real?

No warning flags · FCF 143% above net income

Free cash flow

$8.84M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF vs net income

143.0%

(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.

FCF not below net income

Fails when free cash flow is below net income (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

1.7%

Stock-based comp intensity.

Balance Sheet Strength

Can it survive a storm?

Caution: Dilution above 2% · net debt $252.25M, F-Score 7/9

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.98

Current ratio

1.10×

4th of 5 SIC 3669 peers

Quick ratio

0.79×

Net cash

-$252.25M

Cash & equivalents minus total debt.

Piotroski F-Score

7 / 9

Fundamental-strength score (0-9).

Valuation

Is the price reasonable?

No warning flags

Capital allocation quality

Composite score

2.0 / 5

Fair
Share count trend
11.6%0/5 Weak
Buyback timing
N/AN/A
Dividend growth consistency(non-payer or broken streak)
0 yr3/5 Good
Net debt trajectory
-1.6%3/5 Good

Lifecycle Phase History

20202026
Hypergrowth
Startup

Price History

AIOT-58.0% · -15.9% CAGRSPY+82.9% · +12.8% CAGR