Commvault Systems Inc. (CVLT) intrinsic value & 10-year financials
Commvault Systems Inc. (CVLT) has a Graham intrinsic value of $52.48 per share. At $149.11 on Oct 17, 2026, the stock trades 184% above that value. Over the last 10 fiscal years revenue grew 7.0% a year to $1.2B, with an average return on invested capital of 791.8%.
- Graham intrinsic value
- $52.48
- Share price (Oct 17, 2026)
- $149.11
- Price vs Graham value
- 184% above
- Market cap
- $6.7B
- Revenue (FY2026)
- $1.2B
- Revenue growth (10-yr CAGR)
- 7.0%
- ROIC (10-yr avg)
- 791.8%
- Free cash flow (FY2026)
- $237.2M
CVLT 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $1.2B | $70.7M | $1.58 | $237.2M | 6.3% | -13.6% |
| FY2025 | $995.6M | $76.1M | $1.68 | $203.6M | 7.4% | 7513.6% |
| FY2024 | $839.2M | $168.9M | $3.75 | $199.7M | 9.0% | -124.6% |
| FY2023 | $784.6M | -$35.8M | -$0.80 | $167.0M | -2.0% | 33.9% |
| FY2022 | $769.6M | $33.6M | $0.71 | $173.3M | 5.4% | 545.3% |
| FY2021 | $723.5M | -$31.0M | -$0.66 | $115.8M | -3.1% | -30.7% |
| FY2020 | $670.9M | -$5.6M | -$0.12 | $85.3M | -2.6% | -6.6% |
| FY2019 | $711.0M | $3.6M | $0.07 | $103.6M | 0.7% | 0.6% |
| FY2018 | $699.4M | -$61.9M | -$1.37 | $77.1M | -0.1% | -0.2% |
| FY2017 | $645.0M | $540.0K | $0.01 | $93.6M | 0.0% | 0.0% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
COMMVAULT SYSTEMS INC has demonstrated mature, steady growth, with revenue compounding at 7.0% annually over the past decade.
COMMVAULT SYSTEMS INC has historically struggled to out-earn its cost of capital, averaging just -8.7% ROIC.
COMMVAULT SYSTEMS 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, COMMVAULT SYSTEMS INC is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $52.48 per share.