Arqit Quantum Inc. (ARQQ) intrinsic value & 10-year financials

Arqit Quantum Inc. (ARQQ) has a Graham intrinsic value of $17.73 per share. Over the last 7 fiscal years revenue grew 82.9% a year to $293.0K, with an average return on invested capital of -872.3%.

Graham intrinsic value
$17.73
Revenue (FY2024)
$293.0K
Revenue growth (7-yr CAGR)
82.9%
ROIC (10-yr avg)
-872.3%
Free cash flow (FY2024)
-$34.1M

ARQQ 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2024 $293.0K -$54.6M -$10.79 -$34.1M -8426.6% -139.1%
FY2023 $640.0K -$70.4M -$0.54 -$33.5M -13194.4% -116.1%
FY2022 $7.2M $65.1M $0.53 -$29.3M -722.4% 291.1%
FY2021 $47.9K -$271.7M -$3.98 -$24.3M -360177.3% -4385.3%
FY2020 — -$568.3K -$0.01 -$1.4M — -12.3%
FY2019 — — — — — —
FY2018 — — — — — —

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

Executive summary

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

Arqit Quantum Inc. has historically struggled to out-earn its cost of capital, averaging just -61.7% ROIC.

Arqit Quantum 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, Arqit Quantum Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $17.73 per share.

ARQQ stock: frequently asked questions

What is the intrinsic value of Arqit Quantum Inc. (ARQQ) 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, ARQQ's intrinsic value is about $17.73 per share.

Does Arqit Quantum Inc. generate free cash flow?

Arqit Quantum Inc. generated -$34.1M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2024. Free cash flow was positive in 0 of the last 5 reported years.

What is ARQQ's return on invested capital?

Average ROIC over the last 7 fiscal years was -872.3%, and average return on equity was 331.2%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this ARQQ data come from?

From Arqit Quantum Inc.'s annual 10-K filings on SEC EDGAR, most recently filed Dec 9, 2025. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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