Bioventus Inc. (BVS) intrinsic value & 10-year financials

Bioventus Inc. (BVS) has a Graham intrinsic value of $7.50 per share. At $13.30 on Oct 17, 2026, the stock trades 77% above that value. Over the last 8 fiscal years revenue grew 8.9% a year to $568.1M, with an average return on invested capital of -5.3%.

Graham intrinsic value
$7.50
Share price (Oct 17, 2026)
$13.30
Price vs Graham value
77% above
Market cap
$916.6M
Revenue (FY2025)
$568.1M
Revenue growth (8-yr CAGR)
8.9%
ROIC (10-yr avg)
-5.3%
Free cash flow (FY2025)
$72.1M

BVS 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $568.1M $22.7M $0.33 $72.1M 9.5% 12.0%
FY2024 $573.3M -$33.5M -$0.52 $37.8M -2.1% -2.0%
FY2023 $512.3M -$156.2M -$2.49 $8.0M -16.0% -12.9%
FY2022 $512.1M -$158.7M -$2.59 -$23.6M -49.0% -25.3%
FY2021 $430.9M $19.4M -$0.15 $15.6M 2.8% 1.5%
FY2020 $321.2M $16.4M — $67.7M 6.6% —
FY2019 $340.1M $6.9M — $38.4M 9.2% —
FY2018 — — — — — —

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

Executive summary

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

Bioventus Inc. has historically struggled to out-earn its cost of capital, averaging just -5.3% ROIC.

Bioventus 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, Bioventus Inc. is modeled at 8.9% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $7.50 per share.

BVS stock: frequently asked questions

What is the intrinsic value of Bioventus Inc. (BVS) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a 8.9% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, BVS's intrinsic value is about $7.50 per share.

Is BVS stock undervalued?

At $13.30 (close on Oct 17, 2026), BVS trades 77% above its Graham value of $7.50. On Graham's terms the shares look fully priced. A formula is a starting point for research, not a recommendation.

Does Bioventus Inc. generate free cash flow?

Bioventus Inc. generated $72.1M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 6 of the last 7 reported years.

What is BVS's return on invested capital?

Average ROIC over the last 8 fiscal years was -5.3%, and average return on equity was -21.5%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this BVS data come from?

From Bioventus Inc.'s annual 10-K filings on SEC EDGAR, most recently filed Aug 5, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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