Journey Medical Corp. (DERM) intrinsic value & 10-year financials

Journey Medical Corp. (DERM) has a Graham intrinsic value of $9.16 per share. At $4.97 on Oct 17, 2026, the stock trades 46% below that value. Over the last 7 fiscal years revenue grew 6.6% a year to $61.2M, with an average return on invested capital of -343.9%.

Graham intrinsic value
$9.16
Share price (Oct 17, 2026)
$4.97
Price vs Graham value
46% below
Market cap
$121.6M
Revenue (FY2025)
$61.2M
Revenue growth (7-yr CAGR)
6.6%
ROIC (10-yr avg)
-343.9%
Free cash flow (FY2025)
—

DERM 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $61.2M -$11.4M -$0.47 — -13.3% -28.3%
FY2024 $55.1M -$14.7M -$0.72 -$24.1M -24.8% -84.7%
FY2023 $59.7M -$3.9M -$0.21 $240.0K -3.5% -33.3%
FY2022 $71.0M -$29.6M -$1.69 -$33.5M -38.8% -560.1%
FY2021 $63.1M -$44.0M -$4.32 — -55.2% -1627.7%
FY2020 $44.5M $5.3M $0.49 — 17.6% 270.6%
FY2019 — — — — — —

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

Executive summary

Journey Medical Corp revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.

Journey Medical Corp has historically struggled to out-earn its cost of capital, averaging just -27.6% ROIC.

Journey Medical 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, Journey Medical Corp is modeled at 6.6% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $9.16 per share.

DERM stock: frequently asked questions

What is the intrinsic value of Journey Medical Corp. (DERM) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a 6.6% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, DERM's intrinsic value is about $9.16 per share.

Is DERM stock undervalued?

At $4.97 (close on Oct 17, 2026), DERM trades 46% below its Graham value of $9.16. On Graham's terms that leaves a margin of safety. A formula is a starting point for research, not a recommendation.

What is DERM's return on invested capital?

Average ROIC over the last 7 fiscal years was -343.9%, and average return on equity was -54.1%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this DERM data come from?

From Journey Medical Corp.'s annual 10-K filings on SEC EDGAR, most recently filed May 13, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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