Borealis Foods Inc. (BRLS) intrinsic value & 10-year financials
Borealis Foods Inc. (BRLS) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 5 fiscal years revenue grew 0.2% a year to $31.5M, with an average return on invested capital of 281.4%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $1.05
- Market cap
- $22.5M
- Revenue (FY2025)
- $31.5M
- Revenue growth (5-yr CAGR)
- 0.2%
- ROIC (10-yr avg)
- 281.4%
- Free cash flow (FY2025)
- —
BRLS 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $31.5M | -$19.0M | -$0.89 | — | -35.1% | 133.5% |
| FY2024 | $29.1M | -$25.3M | -$1.25 | -$16.7M | -70.1% | 688.5% |
| FY2023 | $31.4M | -$2.9M | -$2.56 | -$6.8M | -16.4% | 90.0% |
| FY2022 | — | -$302.5K | — | — | — | 213.6% |
| FY2021 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Borealis Foods Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Borealis Foods Inc. has earned high returns on invested capital, averaging 76.8% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Borealis Foods 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, Borealis Foods Inc. is modeled at 0.2% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-6.77 per share.