Core Insights - Value Line, Inc. (VALU) shares have declined 2% since the earnings report for the quarter ended April 30, 2025, underperforming the S&P 500 index, which grew by 2.4% during the same period [1] - The company's earnings per share (EPS) for Q4 fiscal 2025 decreased to 42 cents from 51 cents in the prior year, with net income falling 17.4% to $4 million [2] - For the full fiscal year 2025, EPS increased by 8.9% to $2.20, driven by a 37.9% rise in non-voting revenues from EULAV Asset Management Trust (EAM) [3] Financial Performance - Net income for Q4 fiscal 2025 was $4 million, down from $4.8 million in the same quarter last year, while operating income decreased to $0.8 million from $1.5 million [2] - For the full year, income from operations fell 34.5% to $6 million, down from $9.1 million the previous year [3] - Operating expenses rose by 2.6% year over year to $29.1 million, but this was offset by a 17.1% increase in investment gains to $3.2 million [4] Management Commentary - Management attributed the decline in operational income to decreased copyright revenues and cost pressures, while highlighting the strong contribution from EAM [5] - The company is focused on digital transformation to counteract the long-term decline in print revenue [5] EAM Performance - EAM's assets under management (AUM) grew to $4.7 billion, a 12% increase from $4.2 billion the previous year, contributing to improved earnings from Value Line's non-voting economic interests in EAM [6] Revenue Trends - Declines in subscription-based and copyright-related income negatively impacted operational results, with continued pressure on retail print subscriptions expected to persist [7] - Digital revenue streams are growing but not yet sufficient to fully replace lost print revenues [7] - The increase in non-voting revenues and profits from EAM helped improve net income, attributed to rising AUM and better investment performance [8] Macroeconomic Context - Management cited geopolitical uncertainties, trade tensions, and a cooling U.S. economy as headwinds, but noted a resilient job market and easing inflation in spring 2025, which supported broader equity markets [9] Share Repurchase Program - During the fiscal quarter, Value Line repurchased 4,961 shares at an average price of $36.40, with approximately $0.8 million remaining under the $3 million buyback authorization approved in October 2022 [11]

Core Viewpoint - Value Line, Inc. reported a strong fiscal year ending April 30, 2025, with significant increases in net income, investment gains, and retained earnings, indicating robust financial health and growth potential for investors [1][9]. Financial Performance - The company's net income for the fiscal year was $20,686,000, or $2.20 per share, representing an 8.8% increase from $19,016,000, or $2.02 per share, in the previous year [9]. - Total receipts from non-voting revenues and profits interest in EAM increased by $5,036,000, or 37.9%, totaling $18,318,000 [9]. - Total investment gains reached $3,238,000, up by $474,000, or 17.2%, from last year's $2,764,000 [9]. - The company declared total dividends of $1.225 per share for fiscal year 2025, with a quarterly dividend of $0.325 per share in April 2025, marking the eleventh consecutive year of dividend increases [9]. - Retained earnings increased to $113,400,000, an 8.8% rise compared to the previous year [9]. - Liquid assets grew to $77,391,000, reflecting a 13.2% increase from the prior year [9]. - Shareholders' equity reached $99,678,000, a 9.8% increase from $90,793,000 as of April 30, 2024 [9]. Investment Research Services - Value Line offers a variety of proprietary investment research services, including: - Value Line Select, which recommends one exceptional stock monthly [3]. - The Value Line Special Situations Service, focusing on small and mid-cap stocks with high return potential [4]. - Value Line Select ETFs, identifying the best-positioned ETFs for market outperformance [4]. - Value Line Select: Dividend Income & Growth, providing two stock recommendations for above-average income and long-term growth [5]. - The Value Line M&A Service, highlighting potential acquisition candidates [6]. - The Value Line Climate Change Investing Service, targeting investment opportunities related to climate change [7]. - The Value Line Options Survey, covering over 600,000 options on stocks [7]. - The Value Line Fund Adviser Plus, analyzing 20,000 funds across various investment objectives [8]. Accessibility - Value Line's products are available to individual investors through their website and by mail, with institutional services offered through dedicated platforms [11][12].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________________________________ to ____________________________________ Commission file number: 0-11306 VALUE LINE, INC. (Exact name of registrant as specified ...

Company Overview - Value Line, Inc. is a leading provider of investment research, known for its widely used Value Line Investment Survey, which offers independent equity research [2][3] - The company publishes proprietary investment research in both print and digital formats, catering to individual and institutional investors [2][11] Recent Financial Announcement - On July 18, 2025, Value Line's Board of Directors declared a quarterly cash dividend of $0.325 per common share, payable on August 11, 2025, to stockholders of record on July 28, 2025 [1] Investment Research Services - Value Line offers a variety of specialized investment research services, including: - Value Line Select, which recommends one exceptional stock each month with superior profit potential [2] - The Value Line Special Situations Service, focusing on small and mid-cap stocks with high return potential [3] - Value Line Select ETFs, identifying one ETF each month expected to outperform the market [3] - Value Line Select: Dividend Income & Growth, recommending two stocks expected to provide above-average current income and long-term dividend growth [4] - The Value Line M&A Service, highlighting one company each month that may be acquired at a premium [5] - The Value Line Climate Change Investing Service, targeting investments related to climate change [6] Comprehensive Research Tools - Value Line provides extensive research tools, including: - The Value Line Research Center, an online system for structuring diversified portfolios [10] - The Value Line Investment Analyzer, covering approximately 6,000 equities [10] - Various digital services that provide in-depth analysis on large, mid, and small-cap stocks, covering about 90% of the U.S. stock market [9][10]

Core Viewpoint - Value Line, Inc. has announced an 8.3% increase in its quarterly dividend, marking the 11th consecutive yearly increase, with the new dividend set at $0.325 per common share, payable on May 12, 2025 [1] Company Overview - Value Line is a prominent provider of investment research, with its Investment Survey being one of the most widely utilized sources of independent equity research [2] - The company publishes proprietary investment research in both print and digital formats [2] Specialized Services - Value Line Select: Monthly recommendations of one exceptional stock with superior profit potential and a favorable risk/reward ratio [3] - Value Line Special Situations Service: Monthly recommendations of small and mid-cap stocks expected to deliver returns above the market average [3] - Value Line Select ETFs: Monthly identification of one ETF positioned to outperform the market [3] - Value Line Select: Dividend Income & Growth: Monthly recommendations of two stocks expected to provide above-average current income and long-term dividend growth [4] - New Value Line ETFs Service: Analysis on over 2,800 ETFs to assist subscribers in portfolio selection [4] - Value Line M&A Service: Monthly highlight of one company as a potential acquisition target at a material premium [5] - Value Line Information You Should Know: Focuses on financial planning and investment issues relevant to today's investors [5] - Value Line Climate Change Investing Service: Targets climate change as a critical issue expected to transform the global economy [6] Research Products - Value Line Investment Survey: Provides financial information and quantitative analysis on approximately 1,800 small and mid-cap companies [8] - Value Line 600: In-depth research on 600 large and prominent companies [8] - Value Line Investment Survey–Selection & Opinion: Weekly economic and stock market commentary with actively managed model portfolios [8] - Value Line Investment Analyzer: Covers large, mid, and small-cap stocks, comprising about 90% of the U.S. stock market [10]

Group 1: Bank of America Corporation (BAC) - Bank of America shares have gained +2.5% over the past year, underperforming the Zacks Financial - Investment Bank industry's gain of +20.4% [3] - Non-interest income is projected to rise only 3.4% in 2025, while total non-interest expenses are expected to increase by 3% [4] - Net interest income (NII) is anticipated to grow at a CAGR of 5.3% over the next three years, with total revenues projected to increase by 4.8% in 2025 [5] Group 2: Chevron Corporation (CVX) - Chevron shares have declined -6.2% over the past six months, compared to the Zacks Oil and Gas - Integrated - International industry's decline of -11.9% [6] - The planned acquisition of Hess Corporation is expected to enhance Chevron's presence in oil-rich Guyana, although the company faces challenges from oil price fluctuations and high valuation [7] Group 3: Stryker Corporation (SYK) - Stryker shares have gained +4.3% over the past year, slightly underperforming the Zacks Medical - Products industry's gain of +5.5% [8] - Growth drivers include rising demand for robotic-assisted procedures, hospital capital expenditures, and international expansion, supported by the Mako SmartRobotics platform [9] - However, foreign exchange volatility and supply chain disruptions may impact earnings, alongside increasing competition in the MedTech sector [10] Group 4: Value Line, Inc. (VALU) - Value Line shares have outperformed the Zacks Financial - Investment Management industry over the past year, with a gain of +10% compared to +6.4% [11] - The company has robust cash generation, with cash balances increasing to $27.1 million from $6.1 million year-over-year, supporting dividends and growth investments [11] - However, core publishing revenue declined to $26.7 million, and customer concentration poses a risk [13] Group 5: Sypris Solutions, Inc. (SYPR) - Sypris Solutions shares have gained +3.6% over the past year, underperforming the Zacks Electronics - Miscellaneous Services industry's gain of +36.3% [14] - The company benefits from a long-term supply agreement with a global OEM, providing stable revenues as a sole-source supplier [14] - However, liquidity challenges and rising costs may constrain financial flexibility, while competitive pressures in aerospace heighten vulnerability [16]

Core Viewpoint - Value Line, Inc. (VALU) experienced an 8.4% decline in share price following its earnings report for the quarter ended January 31, 2025, contrasting with a 1.6% growth in the S&P 500 index during the same period [1] Financial Performance - For the quarter ended January 31, 2025, Value Line reported earnings per share (EPS) of 55 cents, down from 62 cents in the same quarter last year [2] - Total publishing revenues decreased slightly to $9 million from $9.1 million in the prior-year period [2] - Net income fell to $5.2 million from $5.9 million, reflecting a 12.3% decline [2] Revenue Breakdown - Revenues from investment periodicals and related publications remained stable at $6.31 million compared to $6.32 million in the prior-year period [3] - Copyright fees declined to $2.7 million from $2.8 million [3] - Income from Value Line's interest in Eulav Asset Management (EAM) increased to $4.9 million from $3.5 million, marking a 40.7% rise [3] Operating Metrics - Total expenses rose by 7.3% year over year to $7.4 million, driven by higher advertising and promotional costs, which increased to $1 million from $0.8 million [4] - Production and distribution expenses increased to $1.5 million from $1.2 million, while office and administration costs rose to $1.4 million from $1.2 million [4] - Salaries and employee benefits slightly decreased to $3.6 million from $3.7 million [5] - Income from operations fell to $1.6 million, down from $2.2 million in the prior-year quarter, representing a 30% decrease [5] Management Commentary - The decline in EPS and net income was attributed to rising costs in marketing and production, as well as lower publishing revenues [6] - The company emphasized its focus on operational efficiencies and maintaining its subscription-based business model [6] Factors Influencing Results - Earnings were impacted by a decline in copyright fees, which fluctuate based on licensing agreements and market conditions [7] - Investment gains fell significantly to $0.7 million from $2 million in the prior-year period, reflecting less favorable market conditions for the investment portfolio [7] - The positive contribution from EAM helped offset some softness in core publishing revenues, highlighting the firm's reliance on asset management interests [7] Outlook - Management noted that macroeconomic uncertainties and evolving market dynamics could continue to affect subscription demand and copyright-related revenue streams [8] - Value Line plans to focus on digital content expansion and client engagement strategies to sustain long-term growth [8] Other Developments - During the quarter, the company repurchased 2,110 shares of its common stock at an average price of $45.25 per share [9] - As of January 31, 2025, the company had $0.9 million remaining under its current repurchase authorization [9]

Core Viewpoint - Value Line, Inc. reported strong financial results for the nine months ended January 31, 2025, showcasing significant growth in net income and investment gains [5]. Financial Performance - The company's net income for the nine months was $16,735,000, or $1.78 per share, representing a 17.6% increase from $14,232,000, or $1.51 per share, for the same period in the previous year [5]. - Non-voting revenues from Eulav Asset Management increased by $4,440,000, or 47.5%, totaling $13,781,000 for the nine months ended January 31, 2025 [5]. - Total investment gains reached $3,557,000, an increase of $1,872,000, or 111.1%, compared to the prior fiscal year [5]. - Retained earnings as of January 31, 2025, were $112,508,000, up 7.9% from $104,300,000 as of April 30, 2024 [5]. - Shareholders' equity increased to $98,950,000, a 9.0% rise from $90,793,000 as of April 30, 2024 [5]. Company Overview - Value Line, Inc. is a prominent provider of investment research based in New York, known for its widely used Value Line Investment Survey [2]. - The company offers a variety of proprietary investment research products in both print and digital formats, including services related to Mutual Funds, ETFs, and Options [2]. - Specialized products include Value Line Select, The Value Line Special Situations Service, and various Value Line ETFs [2].

Financial Performance - For the three months ended January 31, 2025, the company's net income was $5,163,000, a decrease of 12.3% compared to $5,885,000 for the same period in 2024[146]. - The company's income from operations for the nine months ended January 31, 2025, was $5,155,000, down 32.6% from $7,653,000 in the prior year[146]. - Total publishing revenues decreased by 1.8% to $8,967,000 for the three months ended January 31, 2025, from $9,131,000 in 2024[150]. - The company's operating expenses increased by 7.3% to $7,403,000 for the three months ended January 31, 2025, compared to $6,899,000 in 2024[146]. - Total operating expenses for the nine months ended January 31, 2025, were $21,537,000, a 3.4% increase from $20,831,000 in the previous year[168]. - The company experienced a 3.4% decrease in print publication revenues to $6,750,000 during the nine months ended January 31, 2025, compared to $6,987,000 in the prior year[155]. Revenue Sources - Non-voting revenues and non-voting profits interests from EAM Trust increased by 40.7% to $4,910,000 for the three months ended January 31, 2025, compared to $3,489,000 in 2024[146]. - Subscription sales orders from print and digital products are a key revenue driver, with total investment periodicals and related publications showing a slight decline of 0.1% for the three months ended January 31, 2025[150]. - Investment periodicals and related publications revenues were $18,782,000, a decrease of 2.0% compared to $19,174,000 in the prior fiscal year[154]. - New sales of print publications increased to 14.8% of total gross sales during the nine months ended January 31, 2025, while renewal and conversion sales decreased to 85.2%[151]. - 29.6% of total publishing revenues of $26,692,000 were derived from a single customer during the nine months ended January 31, 2025[173]. Investment Gains - The company reported a significant increase in investment gains, with a 209.9% rise to $662,000 for the three months ended January 31, 2025, compared to $2,009,000 in 2024[146]. - Total investment gains for the nine months ended January 31, 2025, were $3,557,000, an increase of 111.1% compared to $1,685,000 in the prior year[175]. - Non-voting revenues interest from EAM increased by 43.6% to $12,089,000 during the nine months ended January 31, 2025, compared to $8,420,000 in the prior year[167]. Economic Context - The U.S. GDP expanded by an estimated 2.8% during 2024, nearly matching the 2.9% gain recorded in 2023, driven by strong consumer spending[140]. - The company anticipates challenges in sustaining earnings growth due to potential changes in fiscal policies and the Federal Reserve's monetary policy stance[144]. Cash Flow and Capital - Cash inflows from operating activities were $14,703,000 for the nine months ended January 31, 2025, compared to $14,169,000 for the same period in 2024, driven by increased unrealized gains on equity securities[182]. - Cash inflows from investing activities were $16,475,000 for the nine months ended January 31, 2025, a significant increase from cash outflows of $7,719,000 for the same period in 2024[184]. - Cash outflows from financing activities were $8,752,000 for the nine months ended January 31, 2025, compared to $8,260,000 for the same period in 2024, with quarterly dividend payments of $0.30 per share totaling $8,478,000[185]. - The Company had working capital of $55,483,000 as of January 31, 2025, compared to $48,770,000 as of April 30, 2024, including short-term unearned revenue of $16,634,000[180]. Securities and Dividends - As of January 31, 2025, the aggregate cost and fair value of fixed income securities classified as available-for-sale were $27,269,000 and $27,167,000, respectively[200]. - The aggregate cost of equity securities was $15,509,000 as of January 31, 2025, with a fair value of $21,808,000, compared to a cost of $11,663,000 and fair value of $16,344,000 as of April 30, 2024[207]. - The dividend yield for equity securities as of January 31, 2025, is 5.22%[208]. - The dividend yield for equity securities as of April 30, 2024, is 4.27%[208]. - A hypothetical 30% decrease in equity securities value as of January 31, 2025, would result in a fair value of $15,266,000[208]. - A hypothetical 30% decrease in equity securities value as of April 30, 2024, would result in a fair value of $11,441,000[208]. Future Outlook - The Company expects to finance current and forecasted liquidity needs for the next twelve months and beyond without making any borrowings[187]. - The Company is required to make estimated lease payments totaling $4,198,000 over the next four fiscal years[193]. - The Company has adopted ASU 2023-07, which requires disclosures of significant expenses by segment, effective for fiscal years beginning after December 15, 2023[189]. - As of January 31, 2025, the estimated fair value of equity securities held is $21,808,000, reflecting a 30% increase in dividend yield[208]. - As of April 30, 2024, the estimated fair value of equity securities held is $16,344,000, with a potential 30% increase leading to a value of $21,247,000[208].

Dividend Announcement - Value Line Inc declared a quarterly cash dividend of $0 30 per common share payable on February 10 2025 to stockholders of record on January 27 2025 [1] - The company has 9,417,264 shares of common stock outstanding as of January 17 2025 [1] Company Overview - Value Line Inc is a leading New York-based provider of investment research known for its widely used Value Line Investment Survey [2] - The company offers a range of proprietary investment research in print and digital formats covering Mutual Funds ETFs and Options [2] - Specialized products include Value Line Select The Value Line Special Situations Service Value Line Select ETFs and The Value Line Climate Change Investing Service among others [2] - Products are available to individual investors via mail website or phone and institutional-level services are offered through dedicated platforms [2] Forward-Looking Statements - The report contains forward-looking statements that depend on future events or conditions and are subject to risks and uncertainties [4] - Factors that could affect actual results include changes in investment trends economic conditions Federal Reserve policies and global financial issues [4] - Other risks include competition in publishing and investment management government regulation and the availability of free or low-cost investment information [4] - The company acknowledges that other unknown or unpredictable factors could also impact future results [5] Contact Information - Howard A Brecher is the contact person for Value Line Inc with the phone number 212-907-1500 [6] - The company's websites include www valueline com www ValueLinePro com and www ValueLineLibrary com [6]