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Public Policy Holding Company

PPHC on Nasdaq. Public Policy Holding Company sells public relations and government lobbying help to companies and nonprofits. Market value $322m.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Look carefully before going further

Why it could be worth it

What to watch out for

Read the warning sign in its own filings

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
4.7%fair

For every $100 of what the whole company costs, it produced $4.71 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to December 2025
n/a

The filings do not give us enough to work this out.

Quality score: not known. Price score: 26 of 100. Our list needs 70 on quality and 60 on price.

$10.85 a share, 55% above its 1-year low

Over the past year the price has ranged from $7.01 to $15.15.

Dividend: 2.6% a year

Paid in its latest year

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

0.0
0.0
202512 monthsto Jun '26

Spare cash swings from quarter to quarter here: $15 million in the past 12 months, $25 million in the year to December 2025.

Revenue
$187m
Operating margin
-18.2%
Debt to equity
0.63
Shares outstanding
0.03bn

Health checks

  • Free cash flow positive1 of 1 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)Not enough data
  • Profit backed by cash (accruals)Not enough data
  • Debt0.63× equity
  • Revenue growth, five yearsUnknown
  • Buying back its own sharesRoughly flat

Dates

Next results (estimated)
n/a
Last annual report (10-K)
31 March 2026
Next quarterly (estimated, 10-Q)
10 November 2026

Who owns it

2 long-term investors we follow own it, unchanged from 2 last quarter. 55 funds in all.

Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

2 investors own more than 5%.

  • Jeffrey Alan Forbes
    Passive investor
    7.7%
    Since 31 March 2026
  • Daniel Clyde Tate, JR.
    Passive investor
    5.3%
    Since 31 March 2026

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 1 insider bought $10 of shares on the open market. 8 sold $2m.

  • Austin Keenan Nealean
    Director
    Sold
    Date
    24 August 2026
    Shares
    2,033
    Price
    $10.94
    Value
    $22,233
  • Strum Neal Howard
    Chief Legal Officer
    Sold
    Date
    24 August 2026
    Shares
    1,702
    Price
    $10.94
    Value
    $18,613
  • Smits Roeland Jozef Bernard
    Chief Financial Officer, Director
    Sold
    Date
    24 August 2026
    Shares
    1,797
    Price
    $10.94
    Value
    $19,652
  • Gensemer Thomas Edward
    Chief Strategy Officer
    Sold
    Date
    24 August 2026
    Shares
    1,797
    Price
    $10.94
    Value
    $19,652
  • Green Johnson McCallum
    Chief Client Officer
    Sold
    Date
    11 June 2026
    Shares
    2,298
    Price
    $10.35
    Value
    $23,784
  • Gensemer Thomas Edward
    Chief Strategy Officer
    Sold
    Date
    11 June 2026
    Shares
    1,115
    Price
    $10.35
    Value
    $11,540
  • Hall George Stewart
    Chief Executive Officer, Director
    Sold
    Date
    11 June 2026
    Shares
    930
    Price
    $10.35
    Value
    $9,626
  • Strum Neal Howard
    Chief Legal Officer
    Sold
    Date
    11 June 2026
    Shares
    2,007
    Price
    $10.35
    Value
    $20,772
  • Austin Keenan Nealean
    Director
    Sold
    Date
    11 June 2026
    Shares
    1,252
    Price
    $10.35
    Value
    $12,958
  • Green Johnson McCallum
    Chief Client Officer
    Sold
    Date
    10 June 2026
    Shares
    859
    Price
    $10.19
    Value
    $8,753

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

1 serious warning sign in Public Policy Holding Company’s filings.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 31 Mar 2026, plus the 10-Q filed 11 Aug 2026 and 5 later 8-Ks.

  • Weak checks on its own accounts

    Serious

    The company said its checks on its own accounts did not work at the end of its latest quarter. Mistakes could slip into the numbers.

    “These deficiencies indicate that the material weakness identified in the prior year had not been fully remediated as of December 31, 2025 and has not been fully remediated as of the end of June 30, 2026.”
    Show the full paragraph
    Throughout the year ended December 31, 2025, management implemented remediation actions to address this material weakness, including expanding and improving review processes, improving access to technical accounting resources, and supplementing the team with additional personnel possessing relevant experience and training. Despite these remediation efforts during the year ended December 31, 2025, management identified additional control deficiencies related to the accounting for certain transactions that, while more routine in nature than those previously identified, still required an appropriate level of judgment, technical analysis and review through the current period covered by this Quarterly Report on Form 10-Q. These deficiencies indicate that the material weakness identified in the prior year had not been fully remediated as of December 31, 2025 and has not been fully remediated as of the end of June 30, 2026.

    From the 10-Q filed 11 August 2026, Part I, Item 4. Controls and Procedures. Read it in the filing

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.