Ascend Wellness Holdings, Inc. (AAWH) intrinsic value & 10-year financials
Ascend Wellness Holdings, Inc. (AAWH) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 8 fiscal years revenue grew 86.2% a year to $500.6M, with an average return on invested capital of -13.6%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $0.40
- Market cap
- $80.4M
- Revenue (FY2025)
- $500.6M
- Revenue growth (8-yr CAGR)
- 86.2%
- ROIC (10-yr avg)
- -13.6%
- Free cash flow (FY2025)
- $12.0M
AAWH 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $500.6M | -$118.2M | -$0.58 | $12.0M | -3.4% | -4.9% |
| FY2024 | $561.6M | -$85.0M | -$0.40 | $50.8M | 0.8% | 1.6% |
| FY2023 | $518.6M | -$48.2M | -$0.24 | $51.1M | -0.7% | -0.9% |
| FY2022 | $405.9M | -$80.9M | -$0.44 | -$120.0M | -1.9% | -2.3% |
| FY2021 | $332.4M | -$122.7M | -$0.82 | -$130.2M | -5.2% | -6.1% |
| FY2020 | $143.7M | -$25.4M | -$0.27 | -$32.4M | 5.5% | 2.5% |
| FY2019 | $12.0M | -$31.9M | -$0.37 | -$82.6M | -217.1% | -85.0% |
| FY2018 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Ascend Wellness Holdings, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Ascend Wellness Holdings, Inc. has historically struggled to out-earn its cost of capital, averaging just -13.6% ROIC.
Ascend Wellness Holdings, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Ascend Wellness Holdings, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-19.27 per share.