Byrna Technologies Inc. (BYRN) intrinsic value & 10-year financials
Byrna Technologies Inc. (BYRN) has a Graham intrinsic value of $13.29 per share. At $4.84 on Oct 17, 2026, the stock trades 64% below that value. Over the last 10 fiscal years revenue grew 109.2% a year to $118.1M, with an average return on invested capital of -35.5%.
- Graham intrinsic value
- $13.29
- Share price (Oct 17, 2026)
- $4.84
- Price vs Graham value
- 64% below
- Market cap
- $116.9M
- Revenue (FY2025)
- $118.1M
- Revenue growth (10-yr CAGR)
- 109.2%
- ROIC (10-yr avg)
- -35.5%
- Free cash flow (FY2025)
- -$9.2M
BYRN 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $118.1M | $9.7M | $0.40 | -$9.2M | 10.0% | 20.9% |
| FY2024 | $85.8M | $12.8M | $0.55 | $9.4M | 7.8% | 21.3% |
| FY2023 | $42.6M | -$8.2M | -$0.37 | $3.0M | -18.3% | -30.7% |
| FY2022 | $48.0M | -$7.9M | — | -$17.1M | -15.5% | -39.1% |
| FY2021 | $42.2M | -$3.3M | — | -$6.3M | -7.8% | -38.1% |
| FY2020 | $16.6M | -$12.6M | — | $1.1M | -26.0% | -92.1% |
| FY2019 | $924.4K | -$4.4M | — | -$4.0M | -357.0% | -100.1% |
| FY2018 | $250.2K | -$2.2M | — | -$1.7M | -814.7% | -843.0% |
| FY2017 | $292.5K | -$2.8M | — | -$1.5M | -656.0% | 575.4% |
| FY2016 | $154.0K | -$1.9M | — | -$1.7M | -1098.6% | 170.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Byrna Technologies Inc. is a consistent compounder, expanding top-line revenue at 109.2% annually over the past decade.
Byrna Technologies Inc. has historically struggled to out-earn its cost of capital, averaging just -25.9% ROIC.
Over the decade, Byrna Technologies Inc. shows that management has aggressively returned capital to shareholders by retiring 55.9% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Byrna Technologies Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $13.29 per share.