Douglas Elliman Inc. (DOUG) intrinsic value & 10-year financials

Douglas Elliman Inc. (DOUG) has a Graham intrinsic value of $3.45 per share. At $1.48 on Oct 17, 2026, the stock trades 57% below that value. Over the last 8 fiscal years revenue grew 4.7% a year to $1.0B, with an average return on invested capital of 3.9%.

Graham intrinsic value
$3.45
Share price (Oct 17, 2026)
$1.48
Price vs Graham value
57% below
Market cap
$125.2M
Revenue (FY2025)
$1.0B
Revenue growth (8-yr CAGR)
4.7%
ROIC (10-yr avg)
3.9%
Free cash flow (FY2025)
-$17.2M

DOUG 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $1.0B $15.2M $0.17 -$17.2M 4.4% 23.6%
FY2024 $995.6M -$76.3M -$0.91 -$31.5M -6.9% -35.7%
FY2023 $955.6M -$42.6M -$0.52 -$36.6M -6.7% -28.9%
FY2022 $1.2B -$5.6M -$0.08 -$23.3M -0.4% -2.6%
FY2021 $1.4B $98.8M $1.27 $123.7M 7.5% 132.7%
FY2020 $774.0M -$46.4M -$0.60 $25.7M -6.4% -60.0%
FY2019 $784.1M $8.5M $0.11 -$502.0K -0.4% -1.6%
FY2018 — — — — — —

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

Executive summary

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

Douglas Elliman Inc. has historically struggled to out-earn its cost of capital, averaging just 3.9% ROIC.

Douglas Elliman 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, Douglas Elliman Inc. is modeled at 7.5% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $3.45 per share.

DOUG stock: frequently asked questions

What is the intrinsic value of Douglas Elliman Inc. (DOUG) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a 7.5% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, DOUG's intrinsic value is about $3.45 per share.

Is DOUG stock undervalued?

At $1.48 (close on Oct 17, 2026), DOUG trades 57% below its Graham value of $3.45. On Graham's terms that leaves a margin of safety. A formula is a starting point for research, not a recommendation.

Does Douglas Elliman Inc. generate free cash flow?

Douglas Elliman Inc. generated -$17.2M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 2 of the last 7 reported years.

What is DOUG's return on invested capital?

Average ROIC over the last 8 fiscal years was 3.9%, and average return on equity was -3.6%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this DOUG data come from?

From Douglas Elliman Inc.'s annual 10-K filings on SEC EDGAR, most recently filed May 11, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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