AeroVironment Inc. (AVAV) intrinsic value & 10-year financials
AeroVironment Inc. (AVAV) has a Graham intrinsic value of $51.48 per share. At $121.79 on Oct 17, 2026, the stock trades 137% above that value. Over the last 10 fiscal years revenue grew 13.4% a year to $820.6M, with an average return on invested capital of 3.2%.
- Graham intrinsic value
- $51.48
- Share price (Oct 17, 2026)
- $121.79
- Price vs Graham value
- 137% above
- Market cap
- $3.4B
- Revenue (FY2025)
- $820.6M
- Revenue growth (10-yr CAGR)
- 13.4%
- ROIC (10-yr avg)
- 3.2%
- Free cash flow (FY2025)
- -$24.1M
AVAV 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $820.6M | $43.6M | $1.55 | -$24.1M | 5.0% | 4.7% |
| FY2024 | $716.7M | $59.7M | $2.18 | -$7.7M | 10.0% | 10.1% |
| FY2023 | $540.5M | -$176.2M | -$7.04 | -$3.5M | -33.1% | -25.1% |
| FY2022 | $445.7M | -$4.2M | -$0.17 | -$31.9M | -2.2% | -0.7% |
| FY2021 | $394.9M | $23.3M | $0.96 | $75.3M | 11.0% | 9.0% |
| FY2020 | $367.3M | $41.1M | $1.71 | $13.9M | 12.8% | 15.8% |
| FY2019 | $314.3M | $47.4M | $1.97 | $18.1M | 10.8% | 7.1% |
| FY2018 | $268.4M | $19.9M | $0.84 | $60.9M | 11.8% | 5.3% |
| FY2017 | $233.1M | $12.5M | $0.54 | -$20.4M | 5.4% | 3.0% |
| FY2016 | $264.1M | $9.0M | $0.39 | -$6.3M | 3.7% | 2.7% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
AeroVironment Inc is a consistent compounder, expanding top-line revenue at 13.4% annually over the past decade.
AeroVironment Inc has historically struggled to out-earn its cost of capital, averaging just 3.2% ROIC.
AeroVironment 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, AeroVironment Inc is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $51.48 per share.