Clearside Biomedical, Inc. (CLSDQ) intrinsic value & 10-year financials
Clearside Biomedical, Inc. (CLSDQ) has a Graham intrinsic value of $0.33 per share. Over the last 10 fiscal years revenue grew 15.7% a year to $1.7M, with an average return on invested capital of 73.0%.
- Graham intrinsic value
- $0.33
- Revenue (FY2024)
- $1.7M
- Revenue growth (10-yr CAGR)
- 15.7%
- ROIC (10-yr avg)
- 73.0%
- Free cash flow (FY2024)
- -$25.7M
CLSDQ 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2024 | $1.7M | -$34.4M | -$0.47 | -$25.7M | -1735.7% | 66.9% |
| FY2023 | $8.2M | -$32.5M | -$0.53 | -$19.9M | -302.0% | 80.3% |
| FY2022 | $1.3M | -$32.9M | -$0.55 | -$13.6M | -2281.6% | 228.1% |
| FY2021 | $29.6M | $376.0K | $0.01 | -$10.7M | -2.1% | 82.6% |
| FY2020 | $7.9M | -$18.2M | -$0.39 | -$13.2M | -227.2% | 296.0% |
| FY2019 | $2.2M | -$30.8M | -$0.81 | -$27.1M | -1394.6% | -305.2% |
| FY2018 | $30.0K | -$82.8M | — | -$79.3M | -276483.3% | -362.0% |
| FY2017 | $345.0K | -$59.0M | — | -$51.4M | -16929.9% | -182.5% |
| FY2016 | $520.0K | -$25.9M | — | $55.8M | 4480.8% | 790.9% |
| FY2015 | — | -$17.6M | — | -$13.9M | — | 34.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Clearside Biomedical, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Clearside Biomedical, Inc. has earned high returns on invested capital, averaging 26.9% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Clearside Biomedical, 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, Clearside Biomedical, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $0.33 per share.