Csp Inc. /MA/ (CSPI) intrinsic value & 10-year financials
Csp Inc. /MA/ (CSPI) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 6.1% a year to $58.7M, with an average return on invested capital of 1.9%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $7.70
- Market cap
- $71.6M
- Revenue (FY2025)
- $58.7M
- Revenue growth (10-yr CAGR)
- -6.1%
- ROIC (10-yr avg)
- 1.9%
- Free cash flow (FY2025)
- $1.9M
CSPI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $58.7M | -$91.0K | -$0.01 | $1.9M | -5.3% | -8.8% |
| FY2024 | $55.2M | -$326.0K | -$0.04 | $4.0M | -3.4% | -7.6% |
| FY2023 | $64.6M | $5.2M | $0.55 | $3.7M | 2.9% | 10.1% |
| FY2022 | $54.4M | $1.9M | $0.21 | $2.4M | -0.1% | -0.3% |
| FY2021 | $49.2M | $699.0K | $0.08 | $1.8M | -2.8% | -6.3% |
| FY2020 | $61.8M | -$1.4M | -$0.18 | $14.0K | -2.3% | -12.2% |
| FY2019 | $79.1M | -$371.0K | -$0.04 | -$4.2M | -1.0% | -5.8% |
| FY2018 | $72.9M | $14.4M | $1.77 | $2.6M | -2.2% | -13.6% |
| FY2017 | $111.5M | $2.5M | $0.32 | $2.3M | 3.4% | 27.7% |
| FY2016 | $103.4M | $2.6M | $0.34 | $4.3M | 3.7% | 35.5% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
CSP INC /MA/ is facing top-line stagnation, with revenue contracting over the decade.
CSP INC /MA/ has historically struggled to out-earn its cost of capital, averaging just 1.9% ROIC.
CSP INC /MA/ 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, CSP INC /MA/ is modeled at -6.1% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-1.73 per share.