Birchtech Corp. (BCHT) intrinsic value & 10-year financials
Birchtech Corp. (BCHT) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 6.5% a year to $17.6M, with an average return on invested capital of 25.3%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $1.18
- Market cap
- $22.8M
- Revenue (FY2025)
- $17.6M
- Revenue growth (10-yr CAGR)
- -6.5%
- ROIC (10-yr avg)
- 25.3%
- Free cash flow (FY2025)
- -$729.4K
BCHT 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $17.6M | -$3.0M | -$0.16 | -$729.4K | -17.2% | 105.5% |
| FY2024 | $17.4M | -$10.8M | -$0.11 | -$4.9M | -41.1% | 58.7% |
| FY2023 | $17.9M | $5.9M | $0.06 | $19.2M | -48.3% | 36.9% |
| FY2022 | $21.6M | -$1.6M | -$0.02 | $60.3K | 4.2% | -7.8% |
| FY2021 | $13.0M | -$3.6M | — | $195.0K | — | 29.1% |
| FY2020 | $8.2M | -$5.8M | — | -$1.2M | — | 50.7% |
| FY2019 | $11.4M | -$6.1M | — | — | — | 63.7% |
| FY2018 | $12.3M | -$4.8M | — | — | 22.8% | -42.9% |
| FY2017 | $27.5M | -$2.9M | — | — | 0.0% | -0.2% |
| FY2016 | $32.3M | -$16.9M | — | — | 6.4% | -40.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Birchtech Corp. is facing top-line stagnation, with revenue contracting over the decade.
Birchtech Corp. has earned high returns on invested capital, averaging 25.3% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Birchtech Corp. 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, Birchtech Corp. is modeled at -6.5% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-0.24 per share.