Autohome Inc. (ATHM) intrinsic value & 10-year financials
Autohome Inc. (ATHM) has a Graham intrinsic value of $27.25 per share. At $20.14 on Oct 27, 2026, the stock trades 26% below that value. Over the last 10 fiscal years revenue grew 0.9% a year to $6.5B, with an average return on invested capital of 17.3%.
- Graham intrinsic value
- $27.25
- Share price (Oct 27, 2026)
- $20.14
- Price vs Graham value
- 26% below
- Market cap
- $9.5B
- Revenue (FY2025)
- $6.5B
- Revenue growth (10-yr CAGR)
- 0.9%
- ROIC (10-yr avg)
- 17.3%
- Free cash flow (FY2025)
- $771.4M
ATHM 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $6.5B | $1.4B | $2.93 | $771.4M | 11.9% | 3.0% |
| FY2024 | $7.0B | $1.7B | $3.33 | $1.2B | 14.3% | 4.0% |
| FY2023 | $7.2B | $1.9B | $3.83 | $2.4B | 15.8% | 4.6% |
| FY2022 | $6.9B | $1.9B | $3.62 | $2.4B | 18.0% | 5.3% |
| FY2021 | $7.2B | $2.2B | $4.29 | $3.3B | 24.6% | 8.7% |
| FY2020 | $8.7B | $3.4B | $7.10 | $3.1B | 36.4% | 18.1% |
| FY2019 | $8.4B | $3.2B | $6.69 | $2.7B | 38.4% | 21.7% |
| FY2018 | $7.2B | $2.9B | $6.02 | $3.0B | 39.7% | 36.0% |
| FY2017 | $6.2B | $2.0B | $4.24 | $2.4B | 32.9% | 35.6% |
| FY2016 | $6.0B | $1.2B | $2.65 | $1.5B | 19.3% | 36.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Autohome Inc. has demonstrated mature, steady growth, with revenue compounding at 0.9% annually over the past decade.
Autohome Inc. has earned high returns on invested capital, averaging 17.3% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Autohome Inc. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Autohome Inc. is modeled at 1.1% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $27.25 per share.