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Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#4345
Positioning
Market Dominance
Manufacturing
Measuring And Control Equipment
$22M
Gary Strahan
MultiSensor AI Holdings, Inc. manufactures, distributes, and sells infrared camera systems for thermographic use in the United States and internationally. It offers sensor devices ranging from small to large handheld designs with built-in displays and controls, fixed-mounted pan-tilt-zoom single- and multi-sensor camera standalone systems, and mobile multi-sensor payload and gimbal systems for unmanned aerial vehicles and unmanned ground vehicles. The company also provides software and services, including training, calibration, and repairs. It serves oil and gas, distribution and logistics, manufacturing, and utility sectors. The company was formerly known as Infrared Cameras Holdings, Inc. and changed its name to MultiSensor AI Holdings, Inc. in February 2024. MultiSensor AI Holdings, Inc. was founded in 1995 and is headquartered in Beaumont, Texas.
Headcount
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| Stock | Rating | Score▼ | Quality | Value | Momentum | P/E | EV/EBITDA | ROE | ROA | Gross Mgn | Op Mgn | Net Mgn | Rev Growth | Div Yield | D/E | Mkt Cap | AUDIT |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$UL UNILEVER PLC | 78 | 96 | 98 | 59 | - | - | 28.5% | 8.0% | 100.0% | 100.0% | 10.4% | -4.6% | 3.3% | 0.0x | $141.8B | VS | |
$ASML ASML HOLDING NV | 77 | 89 | 86 | 83 | - | - | 46.1% | 16.6% | 51.3% | 31.9% | 26.8% | -4.0% | 1.0% | 25.0x | $272.1B | VS | |
$ESLT ELBIT SYSTEMS LTD | 76 | 81 | 87 | 85 | - | - | 10.3% | 3.1% | 24.1% | 7.2% | 4.7% | 14.3% | 0.8% | 25.0x | $11.4B | VS | |
$MT ArcelorMittal | 75 | 71 | 98 | 85 | - | - | 2.2% | 1.5% | 9.3% | 5.3% | 2.2% | -8.5% | 2.2% | 16.0x | $18.9B | VS | |
$AMAT APPLIED MATERIALS INC /DE | 75 | 85 | 87 | 84 | 20.9x | 13.6x | 35.5% | 19.8% | 48.7% | 29.2% | 24.7% | 4.4% | 0.8% | 32.0x | $181.9B | VS | |
$SIMO Silicon Motion Technology CORP | 75 | 84 | 86 | 85 | - | - | 11.8% | 8.8% | 45.9% | 11.3% | 11.1% | 25.7% | 3.7% | 0.0x | $1.8B | VS | |
$CODA Coda Octopus Group, Inc. | 74 | 83 | 90 | 79 | 16.3x | 11.9x | 7.6% | 7.0% | 66.5% | 17.1% | 15.6% | 39.0% | 0.0% | 0.0x | $115M | VS | |
$GSK GSK plc | 74 | 84 | 90 | 70 | - | - | 22.6% | 4.9% | 71.2% | 12.8% | 9.4% | 1.7% | 5.9% | 124.0x | $72.1B | VS | |
$EFXT Enerflex Ltd. | 74 | 80 | 91 | 83 | - | - | 3.0% | 1.1% | 20.9% | 7.3% | 1.3% | 3.0% | 0.9% | 67.0x | $1.2B | VS | |
$BUD Anheuser-Busch InBev SA/NV | 74 | 84 | 97 | 63 | - | - | 8.2% | 3.5% | 55.3% | 25.9% | 12.4% | 0.7% | 1.7% | 0.0x | $87.0B | VS | |
$MSAI MultiSensor AI Holdings, Inc. | 32 | 44 | 28 | 4 | - | - | -212.0% | -148.5% | 23.6% | -319.4% | -307.8% | -25.9% | 0.0% | 43.0x | $22M | ||
| SECTOR BENCH | - | - | - | - | - | 22.3x | 11.5x | -2.5% | -0.1% | 42.5% | 1.3% | -0.2% | 5.9% | 0.0% | 0.2x | - | REF |
MultiSensor AI Holdings, Inc. (MSAI) receives a "Avoid" rating with a composite score of 32.4/100. It ranks #4345 out of 7,333 stocks in our coverage universe and carries a 1-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
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YOY expansion rate
Core pricing power
Operating efficiency
Bottom-line conversion
Equity capital efficiency
Asset base utilization
Financial leverage load
Direct cash return
Gary Strahan
Chief Executive Officer
44
50
23
Audit Verdict: Lower quality and stability scores may indicate governance concerns.
No recent insider transactions available for MSAI
HQ Base
Pending Verification
Lagging peers — losers tend to keep underperforming
Expensive relative to fundamentals — limited margin of safety
Average quality profile
High volatility — wider range of outcomes increases timing risk
Moderate investment profile
Below-average composite — caution warranted
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Relative valuation derived from Manufacturing sector benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Re-calculated daily.
No analyst ratings for MSAI.
View All RatingsHigh margin volatility — erratic forensic earnings quality
ROE proxy -212.0% (sector -2.5%)
GM 24% vs sector 43%, OM -319% vs sector 1%
Capital turnover N/A
Rev growth -26%, 4yr history
Interest coverage N/A
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation and elite competitive moats.
Profit generated per dollar of shareholder equity
Efficiency of asset utilization
Pricing power and cost efficiency
Core business profitability
Bottom-line profitability
The Quality factor evaluates the persistence and magnitude of realized cash flows. Companies with scores >70 exhibit superior pricing power and structural financial resilience through diverse economic regimes.
Our uncertainty rating tracks the predictability of future cash flows and potential for permanent capital loss. Moderate visibility with standard industry cyclicality.
Our quantitative model flags MultiSensor AI Holdings, Inc. with an Avoid rating, assigning a composite score of 32.4/100 and 1 out of 5 stars. Ranked #4345 of 7,333 stocks, MSAI falls in the bottom tier across key factors. Historically, stocks with this profile have faced elevated risk of underperformance and capital loss.
MSAI's quality score of 44/100 is below average, suggesting challenges with profitability or capital efficiency. The company reports a return on equity of -212.0% (sector avg: -2.5%), gross margins of 23.6% (sector avg: 42.5%), net margins of -307.8% (sector avg: -0.2%). Investors should examine whether management is actively addressing these weaknesses or if they reflect structural industry headwinds.
MSAI registers a value score of just 28/100, suggesting the stock trades at a significant premium to its fundamental metrics. Key valuation metrics include a P/B ratio of 2.89x. High-premium valuations like this require strong future execution to avoid multiple compression, and downside risk is elevated if growth disappoints.
With an investment score of 50/100, MSAI exhibits moderate growth-oriented spending. Key growth metrics include revenue growth of -25.9% vs. a sector average of 5.9% and a return on assets of -148.5% (sector: -0.1%). The company appears to be balancing growth investments with capital returns, though the pace of investment may not be enough to accelerate top-line growth meaningfully.
MultiSensor AI Holdings, Inc. is experiencing notably weak momentum with a score of just 4/100. The stock has underperformed its peers and is trending below major moving averages. Revenue growth stands at -25.9% year-over-year, while a beta of 1.20 reflects its sensitivity to broader market moves. While deep momentum weakness can occasionally present value opportunities, it often reflects deteriorating fundamentals or structural headwinds that may persist.
MultiSensor AI Holdings, Inc. registers a low stability score of 23/100, indicating high volatility and potentially stressed financial conditions. Key stability metrics include a beta of 1.20 and a debt-to-equity ratio of 43.00x (sector avg: 0.2x). Stocks at this level carry elevated capital loss risk and may be unsuitable for conservative portfolios without careful risk management.
The short interest score of 53/100 for MSAI suggests somewhat elevated bearish positioning by institutional traders. Specific risk factors include elevated leverage (D/E: 43.00x), micro-cap liquidity risk. With a $22M market cap (micro-cap), MultiSensor AI Holdings, Inc. may experience above-average volatility. Investors should consider whether the short thesis has merit or if it creates a potential short-squeeze opportunity.
MultiSensor AI Holdings, Inc. is a micro-cap company in the Manufacturing sector, ranked #0 of 50 in its sector (100th percentile) and #4345 of 7,333 overall (41st percentile). Key comparisons include ROE of -212.0% trailing the -2.5% sector median and operating margins of -319.4% below the 1.3% sector average. This top-quartile standing reflects exceptional competitive strength relative to Manufacturing peers.
While MSAI currently exhibits a AVOID profile, superior opportunities exist within the MANUFACTURING sector. Our model identifies several "Strong Buy" candidates with higher quality scores and more attractive valuations among direct industry competitors.
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Improvement in Momentum (4) would have the largest impact on the composite score.
ROE 8450% ABOVE SECTOR MEDIAN (FAVORABLE)
Gross Margin 44% BELOW SECTOR MEDIAN
Op. Margin 24859% BELOW SECTOR MEDIAN
AUDIT DATA AS OF SEP 30, 2025 (Q2 FY2025)
We rate MultiSensor AI Holdings, Inc. (MSAI) as Avoid with a composite score of 32.4/100 at a current price of $0.28. The stock falls in the bottom quintile of our universe across key quantitative factors, and the multi-factor weakness suggests a high probability of continued underperformance.
The rating is primarily driven by strength in investment (50th percentile) and quality (44th percentile), which together account for the majority of the composite score. Offsetting weakness in momentum (4th percentile) and stability (23th percentile) tempers our overall conviction. We assign a No Moat rating (18/100), High uncertainty, and Poor capital allocation.
Key items to watch: momentum to confirm whether the current price trend has legs; the path to profitability; valuation compression risk if growth disappoints. Any material change in these dynamics could warrant a reassessment of our rating. The moat trend is stable, which suggests the competitive landscape is stable for now.
MultiSensor AI Holdings, Inc. holds a top-quartile position (#0 of 50) within the Manufacturing sector, based on our composite quantitative scoring across quality, value, momentum, and stability factors. The composite score of 32.4/100 places it at rank #4345 in our full 7,333-stock universe. At $22M in market capitalization, MultiSensor AI Holdings, Inc. is a small-cap player in the Manufacturing space, which limits certain scale advantages but may allow for more agile strategic execution.
Revenue contraction of -26% combined with momentum at the 4th percentile paints a cautious picture of the near-term business outlook. The market appears to be pricing in continued challenges, and a catalyst for reversal is not clearly visible from current data.
The margin cascade tells an important story: gross margins of 24% (-18.9pp vs sector) narrow to operating margins of -319% (-320.7pp vs sector) and net margins of -307.8%, yielding a gross-to-net conversion rate of -1304%. The significant margin erosion from gross to net suggests elevated operating expenses, high interest costs, or other structural drags that warrant monitoring.
At a current price of $0.28, MultiSensor AI Holdings, Inc. is trading at a premium to fundamental value. Our value factor score of 28/100 reflects a composite assessment across multiple valuation metrics including price-to-earnings, price-to-book, EV/EBITDA, and price-to-sales ratios relative to both sector peers and the broader market. The premium valuation implies the market is pricing in significant future growth or quality improvements that are not yet fully reflected in current fundamentals.
The stock currently trades at P/B of 2.9x, P/S of 4.2x. We evaluate these multiples in the context of both absolute levels and sector-relative positioning to form our valuation view.
The stock may offer contrarian value if near-term headwinds prove transitory — the current weakness in factor scores may reverse if business fundamentals stabilize.
The Avoid rating (composite 32.4/100) reflects multi-factor weakness, and historically, stocks in this scoring range have underperformed the market by a meaningful margin.
Revenue decline of -26% signals business deterioration — declining revenues make it difficult to grow into the current valuation and often precede further negative revisions.
Thin net margins of -307.8% provide limited cushion against cost pressures, competitive pricing, or macroeconomic headwinds — even small changes in costs could swing the company to a loss.
Weak momentum (4th percentile) suggests institutional selling pressure and unfavorable technical dynamics that may persist.
We assign a High uncertainty rating to MultiSensor AI Holdings, Inc.. Key risk factors include current negative profitability (net margin -307.8%), below-average price stability (23th percentile). The wide range of potential outcomes widens our fair value estimate and increases the possibility of permanent capital impairment. Investors considering this name should size positions accordingly and demand a meaningful margin of safety before initiating.
Specific risk factors that inform our assessment include: current negative profitability (net margin -307.8%); below-average price stability (23th percentile). Each of these factors independently widens the distribution of potential outcomes, and in combination they create a risk profile that demands careful position sizing. The stability factor at the 23th percentile and quality factor at the 44th percentile provide a quantitative summary of the overall risk landscape.
We identify limited risk mitigants at this time, which contributes to our high uncertainty assessment. Investors should monitor for improvement in balance sheet metrics, margin stability, and business predictability that could warrant a downgrade in our risk assessment over time.
We rate MultiSensor AI Holdings, Inc.'s capital allocation as Poor. Key concerns include low returns on equity (-212.0%), negative profitability, weak asset returns (ROA -148.5%). Exemplary capital allocators generate ROE above 20% and maintain conservative leverage — MultiSensor AI Holdings, Inc. significantly underperforms these benchmarks, raising questions about management's ability to create shareholder value.
Investors should scrutinize management's reinvestment decisions and balance sheet trajectory before committing capital. Poor capital allocation often compounds over time: overlevered balance sheets limit strategic flexibility, while low returns on capital destroy shareholder value. We would need to see sustained improvement in profitability metrics and balance sheet discipline before considering an upgrade.
In summary, MultiSensor AI Holdings, Inc. receives a Avoid rating with a composite score of 32.4/100 (rank #4345 of 7,333). Our quantitative framework assigns a No Moat (18/100, trend: stable), High uncertainty, and Poor capital allocation. The average factor score across quality, value, momentum, stability, and investment is 30/100.
Our analysis does not support a constructive view on MultiSensor AI Holdings, Inc. at this time. The combination of limited competitive advantages, high uncertainty, and poor capital allocation suggests unfavorable risk-reward at current levels. We recommend investors avoid new positions and existing holders consider reducing exposure.
Analysis derived from Blank Capital Research quantitative terminal. For informational purposes only. No trade solicitation. Past performance not indicative of future results. Consult a qualified advisor.
We do not assign MultiSensor AI Holdings, Inc. a meaningful economic moat, scoring 18/100 on our composite assessment. Current fundamentals do not demonstrate the kind of durable competitive advantages — such as superior returns on invested capital, margin superiority, or reinvestment efficiency — that would protect the company from competitive erosion over the long term. The highest-scoring pillar, financial resilience, reached only 8/20.
The strongest moat sources are financial resilience (8/20) and margin superiority (3.9/20). Interest coverage N/A. GM 24% vs sector 43%, OM -319% vs sector 1%. These pillars form the core of MultiSensor AI Holdings, Inc.'s competitive identity and are the primary drivers of excess returns in our framework.
Areas of relative weakness include reinvestment efficiency (0/20) and economic value creation (2.5/20). Capital turnover N/A. Improvement in these areas could meaningfully widen the moat over time, while deterioration would be an early warning of competitive erosion.
Our moat trend assessment is Stable. Multi-year ROIC and operating margin trajectories show neither meaningful improvement nor deterioration, suggesting the competitive position is steady. We expect MultiSensor AI Holdings, Inc.'s moat profile to remain largely unchanged absent a material shift in return on capital or industry dynamics.
Key profit drivers include declining revenues (-26%) that pressure the earnings outlook. The margin cascade from 24% gross to -319% operating to -307.8% net reveals the company's cost structure and reinvestment intensity. Our analysis indicates that profit quality is adequate though not exceptional, with the quality factor at the 44th percentile.
The margin profile shows gross margins of 24%, operating margins of -319%, net margins of -307.8%. Return metrics include ROE of -212.0% and ROA of -148.5%. Relative to the Manufacturing sector, gross margins are 18.9 percentage points below the sector median of 43%, and ROE of -212.0% compares to a sector median of -2.5%.
The balance sheet reflects moderate leverage with D/E of 43%, revenue growth of -26%. The sector median D/E is 0%, putting MultiSensor AI Holdings, Inc. at higher leverage than the typical peer. Overall balance sheet health is adequate for the current business environment.
Above 50MA
37.18%
Net New Highs
+51081
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