Bridger Aerospace Group Holdings, Inc. (BAER) intrinsic value & 10-year financials

Bridger Aerospace Group Holdings, Inc. (BAER) has a Graham intrinsic value of $3.65 per share. At $0.52 on Oct 17, 2026, the stock trades 86% below that value. Over the last 5 fiscal years revenue grew 38.4% a year to $122.8M, with an average return on invested capital of 8.5%.

Graham intrinsic value
$3.65
Share price (Oct 17, 2026)
$0.52
Price vs Graham value
86% below
Market cap
$28.0M
Revenue (FY2025)
$122.8M
Revenue growth (5-yr CAGR)
38.4%
ROIC (10-yr avg)
8.5%
Free cash flow (FY2025)
-$64.2M

BAER 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $122.8M $4.1M -$0.42 -$64.2M — -2.9%
FY2024 $98.6M -$15.6M -$0.81 $5.3M 5.4% -3.5%
FY2023 $66.7M -$77.4M $0.11 -$47.5M -86.2% 30.7%
FY2022 $46.4M -$42.1M -$4.10 -$35.5M -48.8% 9.6%
FY2021 — — — — — —

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

Executive summary

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

Bridger Aerospace Group Holdings, Inc. returns on capital have been average, hovering around 8.5% ROIC over the decade.

Bridger Aerospace Group Holdings, 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, Bridger Aerospace Group Holdings, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $3.65 per share.

BAER stock: frequently asked questions

What is the intrinsic value of Bridger Aerospace Group Holdings, Inc. (BAER) 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, BAER's intrinsic value is about $3.65 per share.

Is BAER stock undervalued?

At $0.52 (close on Oct 17, 2026), BAER trades 86% below its Graham value of $3.65. On Graham's terms that leaves a margin of safety. A formula is a starting point for research, not a recommendation.

Does Bridger Aerospace Group Holdings, Inc. generate free cash flow?

Bridger Aerospace Group Holdings, Inc. generated -$64.2M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 1 of the last 4 reported years.

What is BAER's return on invested capital?

Average ROIC over the last 5 fiscal years was 8.5%, and average return on equity was 10.3%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this BAER data come from?

From Bridger Aerospace Group Holdings, Inc.'s annual 10-K filings on SEC EDGAR, most recently filed Aug 6, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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