Cg Oncology, Inc. (CGON) intrinsic value & 10-year financials

Cg Oncology, Inc. (CGON) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 4 fiscal years revenue grew 345.0% a year to $4.0M, with an average return on invested capital of -18.6%.

Graham intrinsic value
—
Share price (Oct 17, 2026)
$59.85
Market cap
$4.6B
Revenue (FY2025)
$4.0M
Revenue growth (4-yr CAGR)
345.0%
ROIC (10-yr avg)
-18.6%
Free cash flow (FY2025)
-$132.5M

CGON 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $4.0M -$161.0M -$2.08 -$132.5M -4722.1% -31.7%
FY2024 $1.1M -$88.0M -$1.41 -$78.9M -10067.3% -66.4%
FY2023 $204.0K -$48.6M -$1.12 — -27180.9% 42.3%
FY2022 — — — — — —

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

Executive summary

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

CG Oncology, Inc. has historically struggled to out-earn its cost of capital, averaging just -18.6% ROIC.

CG Oncology, 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, CG Oncology, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-69.09 per share.

CGON stock: frequently asked questions

What is the intrinsic value of Cg Oncology, Inc. (CGON) stock?

Graham's formula only works with positive earnings. Cg Oncology, Inc. reported diluted EPS of -$2.08 in fiscal 2025, so no Graham value is shown. The 10-year table shows revenue and cash-flow trends instead.

Does Cg Oncology, Inc. generate free cash flow?

Cg Oncology, Inc. generated -$132.5M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 2 reported years.

What is CGON's return on invested capital?

Average ROIC over the last 4 fiscal years was -18.6%, and average return on equity was -0.7%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this CGON data come from?

From Cg Oncology, Inc.'s annual 10-K filings on SEC EDGAR, most recently filed Aug 6, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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