Value Line, Inc. reported third‑quarter 2026 results for the period ended January 31, 2026. Net income rose to $5.91 million, or $0.63 per share, up from $5.16 million ($0.55 per share) in the same quarter a year earlier. Total revenue fell to $8.28 million, a decline of $0.69 million or 7.7% compared with $8.97 million in Q3 2025.
The revenue drop reflects a 4.7% decline in core publishing revenue over the nine‑month period, driven by lower subscription sales and reduced copyright fees. Publishing revenue for the quarter was $7.12 million, down 5.3% YoY, while investment gains and income from non‑voting interests in EAM Trust offset the shortfall.
Net income growth was largely attributable to a 51.2% increase in investment gains, which totaled $5.4 million for the nine months, and a sizable contribution from EAM Trust income. These gains more than compensated for the revenue decline, allowing the company to report a higher earnings per share.
The balance sheet remains strong, with cash, cash equivalents, and restricted cash totaling $46.8 million and Level 1 securities valued at $84.1 million. Value Line continues to operate without debt, providing flexibility for future investment or strategic initiatives.
Management highlighted ongoing pressure on the core publishing business, noting a 15.5% decline in assets under management at EAM Trust to $4.20 billion as of January 31, 2026. The company is monitoring the impact of this decline on future copyright and revenue‑interest income, while relying on investment performance to sustain profitability.
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