Aethlon Medical Inc. (AEMD) intrinsic value & 10-year financials

Aethlon Medical Inc. (AEMD) has no Graham intrinsic value right now because the formula needs positive earnings.

Graham intrinsic value
—
Share price (Oct 17, 2026)
$5.15
Market cap
$3.5M
Revenue (FY2026)
—
Revenue growth (10-yr CAGR)
6.6%
ROIC (10-yr avg)
-222.5%
Free cash flow (FY2026)
-$7.0M

AEMD 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2026 — -$7.2M -$10.61 -$7.0M — 8050.4%
FY2025 — -$13.4M -$8.58 -$7.6M — -2002.2%
FY2024 $0 -$12.2M -$4.86 -$10.4M — -1033.7%
FY2023 $574.2K -$12.0M -$0.59 -$11.4M -2072.0% -1115.1%
FY2022 $294.2K -$10.4M -$0.71 -$10.1M -3542.5% -8974.9%
FY2021 $659.1K -$7.9M — -$6.8M -1197.1% 2703.6%
FY2020 $650.2K -$6.4M — -$5.3M -912.0% 762.4%
FY2019 $229.6K -$6.2M — -$4.3M -2612.5% 427.6%
FY2018 $149.6K -$5.7M — -$3.9M -3228.8% -141.9%
FY2017 $392.1K -$7.3M — -$3.5M -1555.4% -901.6%

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

AETHLON MEDICAL INC revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.

AETHLON MEDICAL INC has historically struggled to out-earn its cost of capital, averaging just -16.3% ROIC.

AETHLON MEDICAL 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, AETHLON MEDICAL INC is modeled at 6.6% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-198.09 per share.

AEMD stock: frequently asked questions

What is the intrinsic value of Aethlon Medical Inc. (AEMD) stock?

Graham's formula only works with positive earnings. Aethlon Medical Inc. reported diluted EPS of -$10.61 in fiscal 2026, so no Graham value is shown. The 10-year table shows revenue and cash-flow trends instead.

Does Aethlon Medical Inc. generate free cash flow?

Aethlon Medical Inc. generated -$7.0M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2026. Free cash flow was positive in 0 of the last 10 reported years.

What is AEMD's return on invested capital?

Average ROIC over the last 10 fiscal years was -222.5%, and average return on equity was -223.8%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this AEMD data come from?

From Aethlon Medical Inc.'s annual 10-K filings on SEC EDGAR, most recently filed Jun 10, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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