Cerus Corp. (CERS) intrinsic value & 10-year financials
Cerus Corp. (CERS) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 21.9% a year to $233.8M, with an average return on invested capital of -81.6%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $2.18
- Market cap
- $415.5M
- Revenue (FY2025)
- $233.8M
- Revenue growth (10-yr CAGR)
- 21.9%
- ROIC (10-yr avg)
- -81.6%
- Free cash flow (FY2025)
- $1.1M
CERS 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $233.8M | -$15.6M | -$0.08 | $1.1M | -3.7% | -17.0% |
| FY2024 | $201.3M | -$20.9M | -$0.11 | $8.5M | -7.1% | -27.8% |
| FY2023 | $186.8M | -$37.5M | -$0.21 | -$47.8M | -16.1% | -58.9% |
| FY2022 | $188.3M | -$42.8M | -$0.24 | -$27.6M | -18.1% | -68.5% |
| FY2021 | $159.5M | -$54.4M | -$0.32 | -$34.8M | -30.7% | -71.9% |
| FY2020 | $114.2M | -$59.9M | -$0.37 | -$42.4M | -51.1% | -93.7% |
| FY2019 | $93.8M | -$71.2M | — | -$74.8M | -70.6% | -163.6% |
| FY2018 | $76.1M | -$57.6M | -$0.44 | -$32.4M | -72.3% | -89.1% |
| FY2017 | $51.3M | -$60.6M | -$0.56 | -$52.6M | -112.1% | -119.0% |
| FY2016 | $39.3M | -$62.9M | -$0.62 | -$54.1M | -156.5% | -106.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
CERUS CORP is a consistent compounder, expanding top-line revenue at 21.9% annually over the past decade.
CERUS CORP has historically struggled to out-earn its cost of capital, averaging just -48.5% ROIC.
CERUS CORP 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, CERUS CORP is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-2.66 per share.