Butterfly Network, Inc. (BFLY) intrinsic value & 10-year financials
Butterfly Network, Inc. (BFLY) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 8 fiscal years revenue grew 23.4% a year to $97.6M, with an average return on invested capital of -83.1%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $7.25
- Market cap
- $1.8B
- Revenue (FY2025)
- $97.6M
- Revenue growth (8-yr CAGR)
- 23.4%
- ROIC (10-yr avg)
- -83.1%
- Free cash flow (FY2025)
- -$16.0M
BFLY 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $97.6M | -$77.1M | -$0.31 | -$16.0M | -88.5% | -105.6% |
| FY2024 | $82.1M | -$72.5M | -$0.34 | -$44.4M | -90.7% | -71.2% |
| FY2023 | $65.9M | -$133.7M | -$0.65 | -$104.6M | -221.0% | -96.7% |
| FY2022 | $73.4M | -$168.7M | -$0.84 | -$187.4M | -263.0% | -157.4% |
| FY2021 | $62.6M | -$32.4M | -$0.19 | -$197.1M | -308.0% | -366.8% |
| FY2020 | $46.3M | -$162.7M | -$0.93 | -$84.1M | -349.4% | 155.9% |
| FY2019 | $27.6M | -$99.7M | -$0.59 | -$124.9M | -370.9% | 60.2% |
| FY2018 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Butterfly Network, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Butterfly Network, Inc. has historically struggled to out-earn its cost of capital, averaging just -55.7% ROIC.
Butterfly Network, 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, Butterfly Network, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-10.30 per share.