Alx Oncology Holdings Inc. (ALXO) intrinsic value & 10-year financials

Alx Oncology Holdings Inc. (ALXO) has a Graham intrinsic value of $65.99 per share. At $1.06 on Oct 17, 2026, the stock trades 98% below that value.

Graham intrinsic value
$65.99
Share price (Oct 17, 2026)
$1.06
Price vs Graham value
98% below
Market cap
$56.9M
Revenue (FY2025)
—
Revenue growth (9-yr CAGR)
-24.4%
ROIC (10-yr avg)
-897.2%
Free cash flow (FY2025)
-$84.4M

ALXO 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 — -$101.7M -$1.90 -$84.4M — -155.7%
FY2024 — -$134.8M -$2.58 -$122.4M — -96.9%
FY2023 — -$160.8M -$3.74 -$131.6M — -82.6%
FY2022 $0 -$123.5M -$3.03 -$90.7M — -110.6%
FY2021 $0 -$83.5M -$2.07 -$68.8M — -6847.0%
FY2020 $1.2M -$45.7M -$2.76 -$38.3M -3694.0% 58.8%
FY2019 $4.8M -$19.2M — -$14.6M -400.0% 25.8%
FY2018 $2.1M -$13.7M — -$13.8M -662.0% 30.3%
FY2017 — — — — — —

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

Executive summary

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

ALX ONCOLOGY HOLDINGS INC has historically struggled to out-earn its cost of capital, averaging just -39.4% ROIC.

ALX ONCOLOGY 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, ALX ONCOLOGY HOLDINGS INC is modeled at -24.4% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $65.99 per share.

ALXO stock: frequently asked questions

What is the intrinsic value of Alx Oncology Holdings Inc. (ALXO) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a -24.4% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, ALXO's intrinsic value is about $65.99 per share.

Is ALXO stock undervalued?

At $1.06 (close on Oct 17, 2026), ALXO trades 98% below its Graham value of $65.99. On Graham's terms that leaves a margin of safety. A formula is a starting point for research, not a recommendation.

Does Alx Oncology Holdings Inc. generate free cash flow?

Alx Oncology Holdings Inc. generated -$84.4M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 8 reported years.

What is ALXO's return on invested capital?

Average ROIC over the last 9 fiscal years was -897.2%, and average return on equity was -41.2%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this ALXO data come from?

From Alx Oncology Holdings Inc.'s annual 10-K filings on SEC EDGAR, most recently filed Aug 6, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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