Agora, Inc. (API) intrinsic value & 10-year financials

Agora, Inc. (API) has a Graham intrinsic value of $0.66 per share. Over the last 9 fiscal years revenue grew 18.2% a year to $141.1M, with an average return on invested capital of -6.5%.

Graham intrinsic value
$0.66
Revenue (FY2025)
$141.1M
Revenue growth (9-yr CAGR)
18.2%
ROIC (10-yr avg)
-6.5%
Free cash flow (FY2025)
$25.5M

API 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $141.1M $9.5M $0.02 $25.5M -6.7% -1.6%
FY2024 $133.3M -$42.7M -$0.11 -$16.7M -40.0% -9.1%
FY2023 $141.5M -$87.2M -$0.22 -$14.5M -61.7% -13.8%
FY2022 $160.7M -$120.4M -$0.27 -$56.5M -72.1% -18.3%
FY2021 $168.0M -$72.4M -$0.16 -$32.2M -48.0% -14.3%
FY2020 $133.6M -$3.1M -$0.76 -$6.3M -3.9% -1.0%
FY2019 $64.4M -$6.2M — -$4.1M -9.5% 6.1%
FY2018 $43.7M $376.1K — -$1.7M 0.6% -0.4%
FY2017 — — — — — —

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

Executive summary

Agora, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.

Agora, Inc. has historically struggled to out-earn its cost of capital, averaging just -6.5% ROIC.

Agora, 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, Agora, 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.

API stock: frequently asked questions

What is the intrinsic value of Agora, Inc. (API) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a 15.0% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, API's intrinsic value is about $0.66 per share.

Does Agora, Inc. generate free cash flow?

Agora, Inc. generated $25.5M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 1 of the last 8 reported years.

What is API's return on invested capital?

Average ROIC over the last 9 fiscal years was -6.5%, and average return on equity was -4.9%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this API data come from?

From Agora, Inc.'s annual 10-K filings on SEC EDGAR, most recently filed Apr 15, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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