AN2 Therapeutics, Inc. (ANTX) intrinsic value & 10-year financials
AN2 Therapeutics, Inc. (ANTX) has no Graham intrinsic value right now because the formula needs positive earnings.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $3.38
- Market cap
- $102.1M
- Revenue (FY2025)
- —
- ROIC (10-yr avg)
- -57.5%
- Free cash flow (FY2025)
- —
ANTX 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | — | -$35.2M | -$1.16 | — | — | -56.5% |
| FY2024 | — | -$51.3M | -$1.72 | — | — | -55.0% |
| FY2023 | — | -$64.7M | -$2.74 | — | — | -63.3% |
| FY2022 | — | -$41.0M | -$2.79 | — | — | -176.2% |
| FY2021 | — | -$21.5M | -$1.77 | — | — | 63.7% |
| FY2020 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
AN2 Therapeutics, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
AN2 Therapeutics, Inc. has historically struggled to out-earn its cost of capital, averaging just -22.6% ROIC.
AN2 Therapeutics, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
AN2 Therapeutics, Inc. is evaluated under Benjamin Graham's defensive framework using SEC EDGAR fundamentals using an 8.5 + 2g earnings multiple and a 5.1% AAA bond-yield baseline.