Cel Sci Corp. (CVM) intrinsic value & 10-year financials

Cel Sci Corp. (CVM) has no Graham intrinsic value right now because the formula needs positive earnings.

Graham intrinsic value
—
Share price (Oct 17, 2026)
$1.79
Market cap
$7.3M
Revenue (FY2025)
—
ROIC (10-yr avg)
260.4%
Free cash flow (FY2025)
-$17.2M

CVM 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 — -$25.4M -$6.27 -$17.2M — -180.2%
FY2024 — -$27.6M -$0.51 -$18.9M — -144.5%
FY2023 — -$32.2M -$0.73 -$23.2M — -147.2%
FY2022 — -$36.7M -$0.87 -$18.9M — -124.8%
FY2021 — -$36.4M -$0.93 -$27.8M — -137.6%
FY2020 — -$30.3M -$0.82 -$17.9M — -221.8%
FY2019 — -$22.1M -$0.71 -$16.5M — -217.1%
FY2018 — -$31.8M -$1.87 -$13.4M — 1908.7%
FY2017 — -$14.4M -$1.91 -$13.8M — 669.1%
FY2016 — -$11.5M -$0.09 -$23.1M — 1199.3%

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

Executive summary

CEL SCI CORP revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.

CEL SCI CORP has historically struggled to out-earn its cost of capital, averaging just -52.3% ROIC.

Over the decade, CEL SCI CORP shows that management has aggressively returned capital to shareholders by retiring 96.7% of outstanding shares.

Benjamin Graham lens

CEL SCI CORP is evaluated under Benjamin Graham's defensive framework using SEC EDGAR fundamentals using an 8.5 + 2g earnings multiple and a 5.1% AAA bond-yield baseline.

CVM stock: frequently asked questions

What is the intrinsic value of Cel Sci Corp. (CVM) stock?

Graham's formula only works with positive earnings. Cel Sci Corp. reported diluted EPS of -$6.27 in fiscal 2025, so no Graham value is shown. The 10-year table shows revenue and cash-flow trends instead.

Does Cel Sci Corp. generate free cash flow?

Cel Sci Corp. generated -$17.2M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 10 reported years.

What is CVM's return on invested capital?

Average ROIC over the last 10 fiscal years was 260.4%, and average return on equity was 196.4%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this CVM data come from?

From Cel Sci Corp.'s annual 10-K filings on SEC EDGAR, most recently filed May 15, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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