Adagene Inc. (ADAG) intrinsic value & 10-year financials
Adagene Inc. (ADAG) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 9 fiscal years revenue grew 26.1% a year to $7.7M, with an average return on invested capital of 96.9%.
- Graham intrinsic value
- —
- Revenue (FY2025)
- $7.7M
- Revenue growth (9-yr CAGR)
- 26.1%
- ROIC (10-yr avg)
- 96.9%
- Free cash flow (FY2025)
- -$15.7M
ADAG 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $7.7M | -$17.6M | -$0.30 | -$15.7M | -279.5% | 72.1% |
| FY2024 | $103.2K | -$33.4M | -$0.59 | -$29.7M | -34835.4% | 168.4% |
| FY2023 | $18.1M | -$18.9M | -$0.35 | -$28.5M | -131.0% | 72.9% |
| FY2022 | $9.3M | -$80.0M | -$1.48 | -$49.3M | -903.1% | 294.0% |
| FY2021 | $10.2M | -$73.2M | -$1.46 | -$45.9M | -711.2% | 83.2% |
| FY2020 | $700.9K | -$42.4M | -$0.89 | -$29.5M | -6156.5% | 27.5% |
| FY2019 | $480.0K | -$16.4M | -$0.37 | -$18.3M | -3993.7% | 11.1% |
| FY2018 | $1.5M | -$15.3M | -$0.31 | -$14.8M | -1147.1% | 45.8% |
| FY2017 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Adagene Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Adagene Inc. has earned high returns on invested capital, averaging 39.7% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Adagene 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, Adagene Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-9.96 per share.