Armata Pharmaceuticals, Inc. (ARMP) intrinsic value & 10-year financials
Armata Pharmaceuticals, Inc. (ARMP) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 38.6% a year to $4.9M, with an average return on invested capital of -117.8%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $3.37
- Market cap
- $122.1M
- Revenue (FY2025)
- $4.9M
- Revenue growth (10-yr CAGR)
- 38.6%
- ROIC (10-yr avg)
- -117.8%
- Free cash flow (FY2025)
- -$26.3M
ARMP 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $4.9M | -$173.8M | -$4.80 | -$26.3M | -747.0% | 150.9% |
| FY2024 | $5.2M | -$18.9M | -$0.89 | -$39.4M | -820.2% | 81.1% |
| FY2023 | $4.5M | -$69.0M | -$1.91 | -$55.6M | -902.8% | -383.3% |
| FY2022 | $5.5M | -$36.9M | -$1.08 | -$34.7M | -670.8% | -70.6% |
| FY2021 | $4.5M | -$23.2M | -$0.96 | -$24.9M | -532.5% | -64.6% |
| FY2020 | $823.0K | -$22.2M | -$1.35 | -$19.1M | -2623.0% | -146.9% |
| FY2019 | — | -$19.5M | -$1.27 | -$15.8M | — | -192.6% |
| FY2018 | — | -$12.1M | -$0.32 | -$9.4M | — | -150.5% |
| FY2017 | $115.0K | -$12.8M | -$0.36 | -$9.2M | -14048.7% | -168.1% |
| FY2016 | $260.0K | -$18.8M | -$0.59 | -$10.9M | -8991.5% | -233.5% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Armata Pharmaceuticals, Inc. is a consistent compounder, expanding top-line revenue at 38.6% annually over the past decade.
Armata Pharmaceuticals, Inc. has historically struggled to out-earn its cost of capital, averaging just -21.1% ROIC.
Over the decade, Armata Pharmaceuticals, Inc. shows that management has aggressively returned capital to shareholders by retiring 12.3% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Armata Pharmaceuticals, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-159.44 per share.