Biohaven Ltd. (BHVN) intrinsic value & 10-year financials

Biohaven Ltd. (BHVN) has no Graham intrinsic value right now because the formula needs positive earnings.

Graham intrinsic value
—
Share price (Oct 17, 2026)
$10.78
Market cap
$1.2B
Revenue (FY2025)
—
ROIC (10-yr avg)
-276.7%
Free cash flow (FY2025)
-$610.2M

BHVN 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 — -$738.8M -$6.86 -$610.2M — -680.2%
FY2024 — -$846.4M -$9.28 -$586.5M — -313.7%
FY2023 — -$408.2M -$5.73 -$334.8M — -152.1%
FY2022 — -$570.3M -$12.75 -$303.8M — -348.5%
FY2021 — -$213.8M -$5.43 -$146.8M — 567.6%
FY2020 — -$118.7M -$3.01 -$77.1M — -733.3%
FY2019 — — — — — —

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

Executive summary

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

Biohaven Ltd. has historically struggled to out-earn its cost of capital, averaging just -2.8% ROIC.

Biohaven Ltd. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.

Benjamin Graham lens

Biohaven Ltd. is evaluated under Benjamin Graham's defensive framework using SEC EDGAR fundamentals using an 8.5 + 2g earnings multiple and a 5.1% AAA bond-yield baseline.

BHVN stock: frequently asked questions

What is the intrinsic value of Biohaven Ltd. (BHVN) stock?

Graham's formula only works with positive earnings. Biohaven Ltd. reported diluted EPS of -$6.86 in fiscal 2025, so no Graham value is shown. The 10-year table shows revenue and cash-flow trends instead.

Does Biohaven Ltd. generate free cash flow?

Biohaven Ltd. generated -$610.2M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 6 reported years.

What is BHVN's return on invested capital?

Average ROIC over the last 7 fiscal years was -276.7%, and average return on equity was -397.3%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this BHVN data come from?

From Biohaven Ltd.'s annual 10-K filings on SEC EDGAR, most recently filed May 4, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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