Ampco Pittsburgh Corp. (AP) intrinsic value & 10-year financials

Ampco Pittsburgh Corp. (AP) has a Graham intrinsic value of $0.23 per share. At $8.26 on Oct 17, 2026, the stock trades 3491% above that value. Over the last 10 fiscal years revenue grew 2.5% a year to $416.3M, with an average return on invested capital of -12.4%.

Graham intrinsic value
$0.23
Share price (Oct 17, 2026)
$8.26
Price vs Graham value
3491% above
Market cap
$166.3M
Revenue (FY2025)
$416.3M
Revenue growth (10-yr CAGR)
2.5%
ROIC (10-yr avg)
-12.4%
Free cash flow (FY2025)
-$8.1M

AP 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $416.3M -$66.1M -$3.28 -$8.1M -13.1% -33.3%
FY2024 $402.8M $438.0K $0.02 $5.8M 3.0% 3.4%
FY2023 $415.3M -$39.9M -$2.04 -$24.1M -8.3% -17.5%
FY2022 $380.3M $3.4M $0.18 -$43.9M 0.7% 1.1%
FY2021 $344.9M -$12.7M -$0.67 -$31.1M -3.9% -11.8%
FY2020 $328.5M $8.0M $0.54 $25.2M 2.0% 6.1%
FY2019 $397.9M -$21.0M -$1.67 -$14.3M -2.7% -8.4%
FY2018 $419.4M -$69.3M -$5.57 -$3.0M -10.7% -25.7%
FY2017 $385.2M -$12.1M -$0.98 -$30.7M -2.4% -4.6%
FY2016 $331.9M -$79.8M -$6.68 -$16.2M -16.4% -33.8%

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

Executive summary

AMPCO PITTSBURGH CORP has demonstrated mature, steady growth, with revenue compounding at 2.6% annually over the past decade.

AMPCO PITTSBURGH CORP has historically struggled to out-earn its cost of capital, averaging just -12.4% ROIC.

Over the decade, AMPCO PITTSBURGH CORP shows that the company has leveraged its balance sheet to sustain operations.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, AMPCO PITTSBURGH CORP is modeled at 2.5% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $0.23 per share.

AP stock: frequently asked questions

What is the intrinsic value of Ampco Pittsburgh Corp. (AP) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a 2.5% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, AP's intrinsic value is about $0.23 per share.

Is AP stock undervalued?

At $8.26 (close on Oct 17, 2026), AP trades 3491% above its Graham value of $0.23. On Graham's terms the shares look fully priced. A formula is a starting point for research, not a recommendation.

How fast has Ampco Pittsburgh Corp. grown?

Revenue went from $331.9M in fiscal 2016 to $416.3M in fiscal 2025, a compound annual growth rate of 2.5%. Net income was -$66.1M in fiscal 2025.

Does Ampco Pittsburgh Corp. generate free cash flow?

Ampco Pittsburgh Corp. generated -$8.1M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 2 of the last 10 reported years.

What is AP's return on invested capital?

Average ROIC over the last 10 fiscal years was -12.4%, and average return on equity was -34.0%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this AP data come from?

From Ampco Pittsburgh Corp.'s annual 10-K filings on SEC EDGAR, most recently filed May 12, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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