Azitra, Inc. (AZTR) intrinsic value & 10-year financials

Azitra, Inc. (AZTR) has a Graham intrinsic value of $308.65 per share. At $0.07 on Oct 18, 2026, the stock trades 100% below that value. Over the last 5 fiscal years revenue shrank 83.8% a year to $0, with an average return on invested capital of -324.9%.

Graham intrinsic value
$308.65
Share price (Oct 18, 2026)
$0.07
Price vs Graham value
100% below
Market cap
$350.9K
Revenue (FY2025)
$0
Revenue growth (5-yr CAGR)
-83.8%
ROIC (10-yr avg)
-324.9%
Free cash flow (FY2025)
-$11.2M

AZTR 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $0 -$11.0M -$2.25 -$11.2M — -661.2%
FY2024 $7.5K -$9.0M -$2.37 -$10.2M -146468.5% -706.7%
FY2023 $686.0K -$11.3M -$1.83 -$7.4M -1110.3% 40.9%
FY2022 $284.0K -$10.7M -$12.74 -$8.4M -3328.7% 27.4%
FY2021 — — — — — —

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

Executive summary

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

Azitra, Inc. returns on capital have been average, hovering around 13.7% ROIC over the decade.

Azitra, 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, Azitra, Inc. is modeled at -83.8% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $308.65 per share.

AZTR stock: frequently asked questions

What is the intrinsic value of Azitra, Inc. (AZTR) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a -83.8% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, AZTR's intrinsic value is about $308.65 per share.

Is AZTR stock undervalued?

At $0.07 (close on Oct 18, 2026), AZTR trades 100% below its Graham value of $308.65. On Graham's terms that leaves a margin of safety. A formula is a starting point for research, not a recommendation.

Does Azitra, Inc. generate free cash flow?

Azitra, Inc. generated -$11.2M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 4 reported years.

What is AZTR's return on invested capital?

Average ROIC over the last 5 fiscal years was -324.9%, and average return on equity was -84.2%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this AZTR data come from?

From Azitra, Inc.'s annual 10-K filings on SEC EDGAR, most recently filed May 13, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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