Arbutus Biopharma Corp. (ABUS) intrinsic value & 10-year financials
Arbutus Biopharma Corp. (ABUS) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 28.3% a year to $14.1M, with an average return on invested capital of -99.2%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $4.22
- Market cap
- $808.6M
- Revenue (FY2025)
- $14.1M
- Revenue growth (10-yr CAGR)
- 28.3%
- ROIC (10-yr avg)
- -99.2%
- Free cash flow (FY2025)
- -$39.6M
ABUS 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $14.1M | -$33.5M | -$0.17 | -$39.6M | -271.0% | -63.3% |
| FY2024 | $6.2M | -$69.9M | -$0.38 | -$65.0M | -1236.7% | -106.8% |
| FY2023 | $18.1M | -$72.8M | -$0.44 | -$86.9M | -430.5% | -82.7% |
| FY2022 | $39.0M | -$69.5M | -$0.46 | -$35.9M | -167.8% | -76.9% |
| FY2021 | $11.0M | -$76.2M | -$0.83 | -$68.3M | -669.1% | -128.2% |
| FY2020 | $6.9M | -$63.7M | -$1.00 | -$51.7M | -836.1% | -120.1% |
| FY2019 | $6.0M | -$153.7M | — | -$71.6M | -2396.8% | -128.5% |
| FY2018 | $5.9M | -$57.1M | -$1.21 | -$69.0M | -1510.2% | -51.1% |
| FY2017 | $10.7M | -$84.4M | -$1.56 | -$55.9M | -1036.7% | -44.7% |
| FY2016 | $1.5M | -$384.2M | -$7.24 | -$61.9M | -32973.8% | -190.2% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Arbutus Biopharma Corp is a consistent compounder, expanding top-line revenue at 28.3% annually over the past decade.
Arbutus Biopharma Corp has historically struggled to out-earn its cost of capital, averaging just -80.4% ROIC.
Arbutus Biopharma Corp has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Arbutus Biopharma Corp is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-5.65 per share.