Aterian, Inc. (ATER) intrinsic value & 10-year financials
Aterian, Inc. (ATER) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 9 fiscal years revenue shrank 0.9% a year to $69.0M, with an average return on invested capital of -171.5%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $0.56
- Market cap
- $37.3M
- Revenue (FY2025)
- $69.0M
- Revenue growth (9-yr CAGR)
- -0.9%
- ROIC (10-yr avg)
- -171.5%
- Free cash flow (FY2025)
- -$10.9M
ATER 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $69.0M | -$19.0M | — | -$10.9M | -26.1% | -79.5% |
| FY2024 | $99.0M | -$11.9M | — | $2.1M | -11.9% | -35.7% |
| FY2023 | $142.6M | -$74.6M | — | -$13.5M | -53.4% | -109.2% |
| FY2022 | $221.2M | -$196.3M | -$2.95 | -$18.1M | -80.6% | -109.0% |
| FY2021 | $247.8M | -$236.0M | -$6.67 | -$42.0M | -13.8% | -27.5% |
| FY2020 | $185.7M | -$63.1M | — | $6.0M | -18.7% | -224.6% |
| FY2019 | $114.5M | -$58.8M | — | -$25.3M | -47.5% | -351.1% |
| FY2018 | $73.3M | -$31.8M | — | -$30.4M | -40.2% | -435.2% |
| FY2017 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Aterian, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Aterian, Inc. has historically struggled to out-earn its cost of capital, averaging just -46.4% ROIC.
Aterian, 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, Aterian, Inc. is modeled at -0.9% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-1.67 per share.