Ocean Thermal Energy Corp. (CPWR) intrinsic value & 10-year financials

Ocean Thermal Energy Corp. (CPWR) has a Graham intrinsic value of $11.29 per share. Over the last 10 fiscal years revenue grew 240.5% a year to $3.0M, with an average return on invested capital of 51.4%.

Graham intrinsic value
$11.29
Share price (Oct 17, 2026)
$0.00
Market cap
$989.8K
Revenue (FY2025)
$3.0M
Revenue growth (10-yr CAGR)
240.5%
ROIC (10-yr avg)
51.4%
Free cash flow (FY2025)
—

CPWR 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $3.0M -$69.3M $0.34 — -5.7% 0.2%
FY2024 $0 -$1.2M -$0.01 — — 3.6%
FY2023 — -$9.2M -$0.05 — — 3.7%
FY2022 — -$6.9M — — — 5.1%
FY2021 — -$2.7M — — — 8.0%
FY2020 — -$6.5M — — — 16.6%
FY2019 — -$4.9M — — — 14.3%
FY2018 $0 -$7.9M — — — 47.5%
FY2017 $0 -$14.6M — — — 371.1%
FY2016 $49 -$496.6K — — -858391.8% 43.9%

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

Executive summary

Ocean Thermal Energy Corp is a consistent compounder, expanding top-line revenue at 240.5% annually over the past decade.

Ocean Thermal Energy Corp returns on capital have been average, hovering around 14.7% ROIC over the decade.

Ocean Thermal Energy Corp 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, Ocean Thermal Energy Corp is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $11.29 per share.

CPWR stock: frequently asked questions

What is the intrinsic value of Ocean Thermal Energy Corp. (CPWR) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a 15.0% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, CPWR's intrinsic value is about $11.29 per share.

How fast has Ocean Thermal Energy Corp. grown?

Revenue went from $49 in fiscal 2016 to $3.0M in fiscal 2025, a compound annual growth rate of 240.5%. Net income was -$69.3M in fiscal 2025.

What is CPWR's return on invested capital?

Average ROIC over the last 10 fiscal years was 51.4%, and average return on equity was 52.3%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this CPWR data come from?

From Ocean Thermal Energy Corp.'s annual 10-K filings on SEC EDGAR, most recently filed May 12, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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