Atea Pharmaceuticals, Inc. (AVIR) intrinsic value & 10-year financials

Atea Pharmaceuticals, Inc. (AVIR) has a Graham intrinsic value of $45.51 per share. At $4.32 on Oct 17, 2026, the stock trades 91% below that value.

Graham intrinsic value
$45.51
Share price (Oct 17, 2026)
$4.32
Price vs Graham value
91% below
Market cap
$352.1M
Revenue (FY2025)
—
Revenue growth (9-yr CAGR)
622.5%
ROIC (10-yr avg)
-44.4%
Free cash flow (FY2025)
—

AVIR 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 — -$158.3M -$1.94 — — -62.8%
FY2024 — -$168.4M -$2.00 — — -49.0%
FY2023 — -$136.0M -$1.63 — — -37.8%
FY2022 — -$115.9M -$1.39 -$122.9M — -27.9%
FY2021 $351.4M $121.2M $1.37 -$87.0M 39.4% —
FY2020 $48.6M -$10.9M -$0.13 $296.7M -22.7% —
FY2019 — -$14.0M -$0.35 -$12.8M — —
FY2018 — -$9.1M — -$7.9M — —
FY2017 — — — — — —

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

Executive summary

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

Atea Pharmaceuticals, Inc. has historically struggled to out-earn its cost of capital, averaging just -44.4% ROIC.

Atea Pharmaceuticals, 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, Atea Pharmaceuticals, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $45.51 per share.

AVIR stock: frequently asked questions

What is the intrinsic value of Atea Pharmaceuticals, Inc. (AVIR) 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, AVIR's intrinsic value is about $45.51 per share.

Is AVIR stock undervalued?

At $4.32 (close on Oct 17, 2026), AVIR trades 91% below its Graham value of $45.51. On Graham's terms that leaves a margin of safety. A formula is a starting point for research, not a recommendation.

What is AVIR's return on invested capital?

Average ROIC over the last 9 fiscal years was -44.4%, and average return on equity was -5.2%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this AVIR data come from?

From Atea Pharmaceuticals, Inc.'s annual 10-K filings on SEC EDGAR, most recently filed Aug 12, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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