Cocrystal Pharma, Inc. (COCP) intrinsic value & 10-year financials

Cocrystal Pharma, Inc. (COCP) has a Graham intrinsic value of $87.58 per share. At $1.02 on Oct 17, 2026, the stock trades 99% below that value.

Graham intrinsic value
$87.58
Share price (Oct 17, 2026)
$1.02
Price vs Graham value
99% below
Market cap
$11.5M
Revenue (FY2025)
—
Revenue growth (10-yr CAGR)
-69.3%
ROIC (10-yr avg)
-396.1%
Free cash flow (FY2025)
-$8.2M

COCP 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 — -$8.8M -$0.78 -$8.2M — -1073.7%
FY2024 — -$17.5M -$1.72 -$16.5M — -1245.0%
FY2023 — -$18.0M -$1.87 -$14.8M — -888.3%
FY2022 — -$38.8M -$4.77 -$21.5M — -360.5%
FY2021 — -$14.2M — -$12.8M — -72.7%
FY2020 $2.0M -$9.6M — -$10.1M -476.0% -49.9%
FY2019 $6.6M -$48.2M — -$1.7M -737.4% -115.9%
FY2018 — -$49.0M — -$8.3M — -76.7%
FY2017 — -$613.0K -$0.03 -$6.9M — -4.0%
FY2016 — -$74.9M -$0.11 -$14.7M — -74.3%

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

Executive summary

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

Cocrystal Pharma, Inc. has historically struggled to out-earn its cost of capital, averaging just -42.9% ROIC.

Over the decade, Cocrystal Pharma, Inc. shows that management has aggressively returned capital to shareholders by retiring 98.4% of outstanding shares.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, Cocrystal Pharma, Inc. is modeled at -69.3% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $87.58 per share.

COCP stock: frequently asked questions

What is the intrinsic value of Cocrystal Pharma, Inc. (COCP) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a -69.3% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, COCP's intrinsic value is about $87.58 per share.

Is COCP stock undervalued?

At $1.02 (close on Oct 17, 2026), COCP trades 99% below its Graham value of $87.58. On Graham's terms that leaves a margin of safety. A formula is a starting point for research, not a recommendation.

Does Cocrystal Pharma, Inc. generate free cash flow?

Cocrystal Pharma, Inc. generated -$8.2M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 10 reported years.

What is COCP's return on invested capital?

Average ROIC over the last 10 fiscal years was -396.1%, and average return on equity was -61.1%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this COCP data come from?

From Cocrystal Pharma, Inc.'s annual 10-K filings on SEC EDGAR, most recently filed May 15, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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