American Well Corp. (AMWL) intrinsic value & 10-year financials
American Well Corp. (AMWL) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 9 fiscal years revenue grew 11.8% a year to $249.3M, with an average return on invested capital of -45.3%.
- Graham intrinsic value
- —
- Share price (Oct 20, 2026)
- $12.33
- Market cap
- $197.9M
- Revenue (FY2025)
- $249.3M
- Revenue growth (9-yr CAGR)
- 11.8%
- ROIC (10-yr avg)
- -45.3%
- Free cash flow (FY2025)
- -$66.0M
AMWL 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $249.3M | -$95.7M | -$5.96 | -$66.0M | -42.2% | -155.8% |
| FY2024 | $254.4M | -$208.1M | -$13.88 | -$127.5M | -85.5% | -239.9% |
| FY2023 | $259.0M | -$675.2M | -$2.38 | -$148.5M | -267.2% | -217.1% |
| FY2022 | $277.2M | -$270.4M | -$0.99 | -$192.6M | -99.5% | -52.8% |
| FY2021 | $252.8M | -$176.3M | -$0.69 | -$142.1M | -70.9% | -43.9% |
| FY2020 | $245.3M | -$224.4M | -$2.27 | -$115.8M | -92.7% | 295.7% |
| FY2019 | $148.9M | -$87.2M | — | -$83.2M | -63.6% | 21.4% |
| FY2018 | $114.0M | -$52.7M | — | -$75.9M | -48.4% | 30.1% |
| FY2017 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
American Well Corp revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
American Well Corp has historically struggled to out-earn its cost of capital, averaging just -11.2% ROIC.
American Well Corp 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, American Well Corp is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-125.98 per share.