Akebia Therapeutics, Inc. (AKBA) intrinsic value & 10-year financials

Akebia Therapeutics, Inc. (AKBA) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 75.0% a year to $236.2M, with an average return on invested capital of -34.9%.

Graham intrinsic value
—
Share price (Oct 17, 2026)
$0.67
Market cap
$172.3M
Revenue (FY2025)
$236.2M
Revenue growth (10-yr CAGR)
75.0%
ROIC (10-yr avg)
-34.9%
Free cash flow (FY2025)
$67.7M

AKBA 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $236.2M -$5.3M -$0.02 $67.7M 9.9% -28.9%
FY2024 $160.2M -$69.4M -$0.33 -$40.7M -31.5% 113.8%
FY2023 $194.6M -$51.9M -$0.28 — -23.8% 579.5%
FY2022 $292.6M -$92.6M -$0.51 -$73.3M -27.0% -220.3%
FY2021 $213.6M -$282.8M -$1.70 -$253.0M -124.2% -268.2%
FY2020 $295.3M -$383.5M -$2.77 -$110.7M -127.5% -153.5%
FY2019 $335.0M -$279.7M -$2.36 -$264.1M -85.5% -62.4%
FY2018 $207.7M -$143.6M — -$99.1M -85.8% -27.2%
FY2017 $181.2M -$76.9M — -$57.8M -44.1% -82.1%
FY2016 $1.5M -$135.7M — $55.2M -8889.9% -199.3%

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

Executive summary

Akebia Therapeutics, Inc. is a consistent compounder, expanding top-line revenue at 75.0% annually over the past decade.

Akebia Therapeutics, Inc. has historically struggled to out-earn its cost of capital, averaging just -0.7% ROIC.

Akebia Therapeutics, 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, Akebia Therapeutics, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-0.66 per share.

AKBA stock: frequently asked questions

What is the intrinsic value of Akebia Therapeutics, Inc. (AKBA) stock?

Graham's formula only works with positive earnings. Akebia Therapeutics, Inc. reported diluted EPS of -$0.02 in fiscal 2025, so no Graham value is shown. The 10-year table shows revenue and cash-flow trends instead.

How fast has Akebia Therapeutics, Inc. grown?

Revenue went from $1.5M in fiscal 2016 to $236.2M in fiscal 2025, a compound annual growth rate of 75.0%. Net income was -$5.3M in fiscal 2025.

Does Akebia Therapeutics, Inc. generate free cash flow?

Akebia Therapeutics, Inc. generated $67.7M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 2 of the last 9 reported years.

What is AKBA's return on invested capital?

Average ROIC over the last 10 fiscal years was -34.9%, and average return on equity was -15.6%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this AKBA data come from?

From Akebia Therapeutics, Inc.'s annual 10-K filings on SEC EDGAR, most recently filed Aug 5, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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