Cue Biopharma, Inc. (CUE) intrinsic value & 10-year financials

Cue Biopharma, Inc. (CUE) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 57.5% a year to $27.5M, with an average return on invested capital of 230.8%.

Graham intrinsic value
—
Share price (Oct 17, 2026)
$16.71
Market cap
$1.6B
Revenue (FY2025)
$27.5M
Revenue growth (10-yr CAGR)
57.5%
ROIC (10-yr avg)
230.8%
Free cash flow (FY2025)
-$21.9M

CUE 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $27.5M -$26.6M -$0.28 -$21.9M -96.7% 2271.3%
FY2024 $9.3M -$40.7M -$0.72 -$36.4M -446.9% 2082.8%
FY2023 $5.5M -$50.7M -$1.11 -$40.0M -949.9% -337.6%
FY2022 $1.2M -$53.0M -$1.49 -$42.0M -4274.3% -292.7%
FY2021 $14.9M -$44.2M -$1.41 -$39.8M -292.6% -690.7%
FY2020 $3.2M -$44.8M — -$33.1M -1428.0% -498.9%
FY2019 $3.5M -$36.7M — -$30.8M -1063.2% -315.8%
FY2018 $1.1M -$39.0M — -$28.3M -3386.7% -81.0%
FY2017 — -$23.2M — -$13.2M — -60.5%
FY2016 — — — — — —

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

Executive summary

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

Cue Biopharma, Inc. has historically struggled to out-earn its cost of capital, averaging just -13.3% ROIC.

Cue Biopharma, Inc. 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, Cue Biopharma, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-9.30 per share.

CUE stock: frequently asked questions

What is the intrinsic value of Cue Biopharma, Inc. (CUE) stock?

Graham's formula only works with positive earnings. Cue Biopharma, Inc. reported diluted EPS of -$0.28 in fiscal 2025, so no Graham value is shown. The 10-year table shows revenue and cash-flow trends instead.

Does Cue Biopharma, Inc. generate free cash flow?

Cue Biopharma, Inc. generated -$21.9M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 9 reported years.

What is CUE's return on invested capital?

Average ROIC over the last 10 fiscal years was 230.8%, and average return on equity was -89.2%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this CUE data come from?

From Cue Biopharma, Inc.'s annual 10-K filings on SEC EDGAR, most recently filed May 14, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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