Corcept Therapeutics Inc. (CORT) intrinsic value & 10-year financials
Corcept Therapeutics Inc. (CORT) has a Graham intrinsic value of $27.24 per share. At $110.16 on Oct 17, 2026, the stock trades 304% above that value. Over the last 10 fiscal years revenue grew 28.2% a year to $761.4M, with an average return on invested capital of 51.0%.
- Graham intrinsic value
- $27.24
- Share price (Oct 17, 2026)
- $110.16
- Price vs Graham value
- 304% above
- Market cap
- $13.2B
- Revenue (FY2025)
- $761.4M
- Revenue growth (10-yr CAGR)
- 28.2%
- ROIC (10-yr avg)
- 51.0%
- Free cash flow (FY2025)
- $141.8M
CORT 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $761.4M | $99.7M | $0.82 | $141.8M | 5.9% | 8.2% |
| FY2024 | $675.0M | $141.2M | $1.23 | $195.9M | 20.3% | 25.8% |
| FY2023 | $482.4M | $106.1M | $0.94 | $126.9M | 22.2% | 24.6% |
| FY2022 | $401.9M | $101.4M | $0.87 | $119.9M | 28.0% | 33.0% |
| FY2021 | $366.0M | $112.5M | $0.89 | $167.4M | 34.0% | 30.0% |
| FY2020 | $353.9M | $106.0M | $0.85 | $150.7M | 36.2% | 26.2% |
| FY2019 | $306.5M | $94.2M | $0.77 | $135.0M | 36.4% | 26.4% |
| FY2018 | $251.2M | $75.4M | $0.60 | $115.4M | 35.6% | 45.8% |
| FY2017 | $159.2M | $129.1M | $1.04 | $60.5M | 33.2% | 64.3% |
| FY2016 | $81.3M | $8.1M | $0.07 | $18.2M | 12.5% | 225.8% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
CORCEPT THERAPEUTICS INC is a consistent compounder, expanding top-line revenue at 28.2% annually over the past decade.
CORCEPT THERAPEUTICS INC has earned high returns on invested capital, averaging 28.7% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
CORCEPT THERAPEUTICS 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, CORCEPT THERAPEUTICS INC is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $27.24 per share.