Ceva Inc. (CEVA) intrinsic value & 10-year financials
Ceva Inc. (CEVA) has a Graham intrinsic value of $0.31 per share. At $27.50 on Oct 17, 2026, the stock trades 8771% above that value. Over the last 10 fiscal years revenue grew 4.7% a year to $109.6M, with an average return on invested capital of -0.3%.
- Graham intrinsic value
- $0.31
- Share price (Oct 17, 2026)
- $27.50
- Price vs Graham value
- 8771% above
- Market cap
- $668.1M
- Revenue (FY2025)
- $109.6M
- Revenue growth (10-yr CAGR)
- 4.7%
- ROIC (10-yr avg)
- -0.3%
- Free cash flow (FY2025)
- -$6.3M
CEVA 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $109.6M | -$10.6M | -$0.44 | -$6.3M | -10.4% | -4.0% |
| FY2024 | $106.9M | -$8.8M | -$0.37 | $516.0K | -7.1% | -3.0% |
| FY2023 | $97.4M | -$11.9M | -$0.51 | -$9.2M | -13.8% | -5.5% |
| FY2022 | $134.6M | -$23.2M | -$1.00 | $3.4M | -4.0% | -2.2% |
| FY2021 | $122.7M | $396.0K | $0.02 | $23.6M | 2.9% | 0.7% |
| FY2020 | $100.3M | -$2.4M | -$0.11 | $12.2M | -0.8% | -0.2% |
| FY2019 | $87.2M | $28.0K | $0.00 | $6.2M | -2.2% | -0.4% |
| FY2018 | $77.9M | $574.0K | $0.03 | $5.3M | -1.6% | -0.3% |
| FY2017 | $87.5M | $17.0M | $0.75 | $20.3M | 18.1% | 6.3% |
| FY2016 | $72.7M | $13.1M | $0.61 | $12.1M | 19.8% | 5.4% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
CEVA INC has demonstrated mature, steady growth, with revenue compounding at 4.7% annually over the past decade.
CEVA INC has historically struggled to out-earn its cost of capital, averaging just -0.3% ROIC.
CEVA 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, CEVA INC is modeled at 4.7% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $0.31 per share.