BioAtla, Inc. (BCAB) intrinsic value & 10-year financials
BioAtla, Inc. (BCAB) has a Graham intrinsic value of $18.25 per share. At $1.36 on Oct 17, 2026, the stock trades 93% below that value. Over the last 8 fiscal years revenue shrank 14.7% a year to $2.0M, with an average return on invested capital of 248.9%.
- Graham intrinsic value
- $18.25
- Share price (Oct 17, 2026)
- $1.36
- Price vs Graham value
- 93% below
- Market cap
- $80.0M
- Revenue (FY2025)
- $2.0M
- Revenue growth (8-yr CAGR)
- -14.7%
- ROIC (10-yr avg)
- 248.9%
- Free cash flow (FY2025)
- —
BCAB 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $2.0M | -$59.6M | -$1.01 | — | -2965.2% | 161.8% |
| FY2024 | $11.0M | -$69.8M | -$1.44 | — | -672.2% | 197.9% |
| FY2023 | $0 | -$123.5M | -$2.58 | — | — | 356.9% |
| FY2022 | $0 | -$106.5M | -$2.74 | — | — | 343.9% |
| FY2021 | $300.0K | -$95.4M | -$2.76 | — | -32146.7% | 328.0% |
| FY2020 | $429.0K | -$35.9M | — | — | -7016.1% | 105.1% |
| FY2019 | $5.2M | -$29.9M | — | — | -543.6% | — |
| FY2018 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
BioAtla, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
BioAtla, Inc. has earned high returns on invested capital, averaging 19.8% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
BioAtla, 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, BioAtla, Inc. is modeled at -14.7% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $18.25 per share.