Quinstreet
QNST on Nasdaq. QuinStreet sells customer leads and online marketing to insurers, lenders, schools, and home services. Market value $856m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to June 2026.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Technology stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $13.64 of spare cash in the past 12 months. A savings account pays about $4.
You pay 22.6 years of operating profit for the business. The average large US company costs around 18.
The filings do not give us enough to work this out.
Quality score: 62 of 100. Price score: 80 of 100. Our list needs 70 on quality and 60 on price.
$15.02 a share, 46% above its 1-year low
Over the past year the price has ranged from $10.29 to $22.29.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $578m | $582m | $581m | $614m | $1.3bn |
| Operating margin | |||||
| Operating margin | 2.4% | -0.8% | -3.6% | -4.6% | 2.7% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | 0.22 |
| Shares outstanding | |||||
| Shares outstanding | 0.05bn | 0.05bn | 0.06bn | 0.06bn | 0.06bn |
Health checks
- Free cash flow positive3 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)Not enough data
- Profit backed by cash (accruals)Not enough data
- Debt0.22× equity
- Revenue growth, five yearsStrong, 17.6% a year
- Buying back its own sharesRoughly flat
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
| Quarter to | Amount |
|---|---|
| June 2024 | $198m |
| September 2024 | $279m |
| December 2024 | $283m |
| March 2025 | $270m |
| September 2025 | $286m |
| December 2025 | $288m |
| March 2026 | $346m |
| June 2026 | $374m |
| Quarter to | Amount |
|---|---|
| June 2024 | -$2m |
| September 2024 | -$1m |
| December 2024 | -$2m |
| March 2025 | $4m |
| September 2025 | $5m |
| December 2025 | $50m |
| March 2026 | $7m |
| June 2026 | $19m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 26 August 2026
- Next quarterly (estimated, 10-Q)
- 7 August 2026
Who owns it
2 long-term investors we follow own it, down from 3 last quarter. 215 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Royce & AssociatesChuck Royce | $25m | 0.2% | Added |
| Heartland AdvisorsBill Nasgovitz | $9m | 0.4% | Added |
Sold out this quarter
Largest holders overall
- BlackRock$161mAdded
- Private Capital Management$69mAdded
- AQR Capital Management$37mAdded
- Vanguard Capital Management$36m
- State Street$33mAdded
- Goldman Sachs Group$30mAdded
- Royce & Associates$25mAdded
- Geode Capital Management$21mAdded
- Dimensional Fund Advisors LP$20mAdded
- Vanguard Portfolio Management$19m
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
1 investor owns more than 5%.
- BlackRock, Inc.Passive investor14.6%−3.1 ptsSince 31 March 2025
- THRIVENT FINANCIAL FOR LUTHERANSPassive investorSold down below 5%Since 30 September 2024
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
- DRIEHAUS CAPITAL MANAGEMENT LLCPassive investorSold down below 5%Since 30 June 2025
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 14.6%−3.1 pts | 31 March 2025 | |
THRIVENT FINANCIAL FOR LUTHERANS Passive investor | Sold down below 5% | 30 September 2024 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 | |
DRIEHAUS CAPITAL MANAGEMENT LLC Passive investor | Sold down below 5% | 30 June 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 3 sold $17m, $17m of it under preset trading plans.
- Wong GregoryCFOSoldunder a preset trading plan
- Date
- 18 August 2026
- Shares
- 11,704
- Price
- $20.44
- Value
- $239,230
- Ahmed AsmauDirectorSold
- Date
- 17 August 2026
- Shares
- 10,000
- Price
- $20.30
- Value
- $203,000
- Ahmed AsmauDirectorSold
- Date
- 14 August 2026
- Shares
- 15,000
- Price
- $20.85
- Value
- $312,750
- Ahmed AsmauDirectorSold
- Date
- 12 August 2026
- Shares
- 10,000
- Price
- $20.43
- Value
- $204,300
- Ahmed AsmauDirectorSold
- Date
- 11 August 2026
- Shares
- 5,000
- Price
- $20.79
- Value
- $103,950
- Wong GregoryCFOSoldunder a preset trading plan
- Date
- 7 August 2026
- Shares
- 26,296
- Price
- $20.09
- Value
- $528,287
- Valenti DouglasChief Executive Officer, DirectorSoldunder a preset trading plan
- Date
- 7 August 2026
- Shares
- 751,631
- Price
- $20.50
- Value
- $15m
- Wong GregoryCFOSoldunder a preset trading plan
- Date
- 1 July 2026
- Shares
- 10,338
- Price
- $15.00
- Value
- $155,070
- Wong GregoryCFOSoldunder a preset trading plan
- Date
- 15 June 2026
- Shares
- 22,057
- Price
- $12.19
- Value
- $268,875
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 18 August 2026 | Wong Gregory CFO | Sold under a preset trading plan | 11,704 | $20.44 | $239,230 |
| 17 August 2026 | Ahmed Asmau Director | Sold | 10,000 | $20.30 | $203,000 |
| 14 August 2026 | Ahmed Asmau Director | Sold | 15,000 | $20.85 | $312,750 |
| 12 August 2026 | Ahmed Asmau Director | Sold | 10,000 | $20.43 | $204,300 |
| 11 August 2026 | Ahmed Asmau Director | Sold | 5,000 | $20.79 | $103,950 |
| 7 August 2026 | Wong Gregory CFO | Sold under a preset trading plan | 26,296 | $20.09 | $528,287 |
| 7 August 2026 | Valenti Douglas Chief Executive Officer, Director | Sold under a preset trading plan | 751,631 | $20.50 | $15m |
| 1 July 2026 | Wong Gregory CFO | Sold under a preset trading plan | 10,338 | $15.00 | $155,070 |
| 15 June 2026 | Wong Gregory CFO | Sold under a preset trading plan | 22,057 | $12.19 | $268,875 |
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.
None of the warning signs we check for were found.
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 26 Aug 2026, and no later 8-Ks.
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
Your first deep dive is free.
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.