Fonar Corp.
FONR · Price history
Company & revenue
About Fonar Corp.
Primary reporting period: 2025-06-30 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
FONAR Corporation, together with its subsidiaries, engages in the designing, manufacturing, selling, and servicing of magnetic resonance imaging (MRI) scanners for the detection and diagnosis of human diseases, abnormalities, other medical conditions, and injuries in the United States. It operates in two segments: Medical Equipment, and Physician Management and Diagnostic Services. The company offers an Upright MRI scanner, which allows patients to be scanned in weight-bearing conditions, such as standing, sitting, bending, or lying down.
How they make money
Fonar operates through two primary segments: medical equipment and diagnostic imaging management. The company generates revenue by designing, manufacturing, and servicing MRI scanners, and through its subsidiary, Health Management Company of America (HMCA), which manages diagnostic imaging facilities and provides administrative and billing services to those facilities.
Products & services
Magnetic resonance imaging (MRI) scanners, including open MRI technology, and diagnostic imaging management services.
Brands & revenue mix
Primary brand for MRI scanning equipment and technology.
Separate brand revenue is not available in this research.Source
Brand for diagnostic imaging management services.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer concentration
No quantified customer-concentration disclosure is available in the current saved research.
Suppliers, materials & equipment
- Electronic and mechanical component suppliers — The company relies on various third-party vendors for the raw materials and components required to manufacture its MRI scanning equipment; specific supplier names are not disclosed.Source
Business relationships & partnerships
- Medserena — Serves as Fonar's principal foreign sales representative and distributor for medical equipment.Source
Competitors
Strengths
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
42
Weak
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
54
Fair
Financial Strength
71
Business Quality / Moat
19
Management
71
Growth Quality
29
Risk / Durability
96
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
23
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
26/100
Building Historical Record
Model Score 26/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
- •Balance-sheet / debt profile scores strongly
- •Insider activity signal is favorable
- •Recent buyback activity is present
- •Valuation is a weaker part of the current profile
- •Revenue fundamentals are weak
Company-specific research
Questions worth answering for FONR
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can FONR maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •Is FONR's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
- •Does FONR's balance between cash and debt leave enough flexibility if business conditions weaken?
- •What future growth or profitability would be needed to justify FONR's current valuation?
Essential Investment Snapshot
Wall Street Score
42
Opportunity Score
23
Market Cap
$117.8M
P/E Ratio
18.9
EPS
$1.01
52-Week High
$19.16
52-Week Low
$13.62
Beta
1.02
Intrinsic Value
$13.14
Shares Outstanding
6.6M
Total Revenue
$105.3M
Total Debt
$38.8M
Dividend
No current dividend
Liquidation Value / Share
$25.10
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Notices for FONR
Detected from reported data — verify before acting.Dividend history reported
Dividend payments are recorded. Review the dates and regular/special classification below; past payments do not guarantee future dividends.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Community Sentiment
0 active · 0 total callsNo personal call yet on FONR.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Proprietary iron-core non-superconductive and permanent magnet MRI technology.
- +Established diagnostic imaging management infrastructure through HMCA.
- +Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Medical - Equipment & Services industry.
- −Dependence on third-party reimbursement for diagnostic imaging services.
- −Intense competition in the medical equipment industry.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
6 historical score records availablePrevious Score
42
Sep 24, 2026
Change
Unchanged
Current Score
42
Oct 1, 2026
Category Changes
FONR score was unchanged.
Projected Score
Projected Score
34
Projected Change
-8.0 points
Preliminary comparable-period financial changes suggest decline of approximately 8.0 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
OvervaluedCurrent Price
$19.09
Model Intrinsic Value
$13.14
Difference
+$5.95
+45.2% vs IV
Margin of Safety
-45.2%
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $105.3M | $104.4M | $102.9M | $98.6M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $62.9M | $61.4M | $57.7M | $52.9M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $42.4M | $42.9M | $45.1M | $45.7M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $1.8M | $1.6M | $1.7M | $1.6M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $21.4M | $29.7M | $0.00 | $29.4M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $32.9M | $31.3M | $28.6M | $31.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $15.9M | $18.5M | $23.9M | $24.6M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | $9.5M | $11.6M | $16.5M | $14.8M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $13K | $26K | $77K | $50K | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | $11.4M | $13.8M | $19.3M | $15.8M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $2.5M | $3.1M | $5.2M | $3.6M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | $6.7M | $8.3M | $10.6M | $9.4M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $1.01 | $1.26 | $1.56 | $1.35 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 6.17M | 6.32M | 6.35M | 6.65M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 6.30M | 6.55M | 6.48M | 6.77M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$26.5M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$0.24
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
-2.4%
Cash Change
-1.1%
Margin Change
-3.0 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Debt reduced
What Weakened
- Margins contracted
- Cash position declined
Potential Score Impact
Positive indicators included debt levels. Pressure indicators included revenue growth, EPS growth, cash levels, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue declined 2.6%. EPS declined 36.8%. Cash declined 1.1%. Total debt declined 2.4%. Net income margin declined by 3.0 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
Smart Money
Number of Gurus
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
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Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
6 historical recordsHistorical Score Chart
3 of 6 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
Medical - Equipment & ServicesRumor Mill · FONR
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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