Bridgeline Digital, Inc. (BLIN) intrinsic value & 10-year financials
Bridgeline Digital, Inc. (BLIN) has a Graham intrinsic value of $1.34 per share. At $0.72 on Oct 17, 2026, the stock trades 46% below that value. Over the last 10 fiscal years revenue shrank 0.4% a year to $15.4M, with an average return on invested capital of -44.0%.
- Graham intrinsic value
- $1.34
- Share price (Oct 17, 2026)
- $0.72
- Price vs Graham value
- 46% below
- Market cap
- $8.0M
- Revenue (FY2025)
- $15.4M
- Revenue growth (10-yr CAGR)
- -0.4%
- ROIC (10-yr avg)
- -44.0%
- Free cash flow (FY2025)
- -$1.1M
BLIN 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $15.4M | -$2.5M | -$0.25 | -$1.1M | -15.8% | -27.3% |
| FY2024 | $15.4M | -$2.0M | -$0.19 | -$794.0K | -13.1% | -20.6% |
| FY2023 | $15.9M | -$9.4M | -$0.91 | $252.0K | -62.4% | -67.9% |
| FY2022 | $16.8M | $2.1M | $0.20 | -$251.0K | -11.3% | -12.5% |
| FY2021 | $13.3M | -$6.7M | -$1.47 | -$1.1M | -8.9% | -13.6% |
| FY2020 | $10.9M | $326.0K | -$0.59 | -$498.0K | -15.1% | -42.1% |
| FY2019 | $10.0M | -$9.5M | -$2.72 | -$4.2M | -111.2% | -150.2% |
| FY2018 | $13.6M | -$7.2M | -$2.12 | -$1.1M | -51.5% | -68.5% |
| FY2017 | $16.3M | -$1.6M | — | -$987.0K | -8.5% | -10.7% |
| FY2016 | $15.9M | -$7.8M | — | -$2.7M | -22.3% | -27.2% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Bridgeline Digital, Inc. is facing top-line stagnation, with revenue contracting over the decade.
Bridgeline Digital, Inc. has historically struggled to out-earn its cost of capital, averaging just -29.2% ROIC.
Bridgeline Digital, Inc. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Bridgeline Digital, Inc. is modeled at -0.4% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $1.34 per share.