Dawson Geophysical Co. (DWSN) intrinsic value & 10-year financials
Dawson Geophysical Co. (DWSN) has a Graham intrinsic value of $0.19 per share. At $2.23 on Oct 17, 2026, the stock trades 1074% above that value. Over the last 10 fiscal years revenue shrank 6.1% a year to $75.6M, with an average return on invested capital of -34.0%.
- Graham intrinsic value
- $0.19
- Share price (Oct 17, 2026)
- $2.23
- Price vs Graham value
- 1074% above
- Market cap
- $69.2M
- Revenue (FY2025)
- $75.6M
- Revenue growth (10-yr CAGR)
- -6.1%
- ROIC (10-yr avg)
- -34.0%
- Free cash flow (FY2025)
- $7.1M
DWSN 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $75.6M | -$1.9M | -$0.06 | $7.1M | -2.2% | -8.4% |
| FY2024 | $74.2M | -$4.1M | -$0.13 | -$3.7M | -6.1% | -23.1% |
| FY2023 | $96.8M | -$12.1M | -$0.45 | -$2.9M | -13.8% | -53.6% |
| FY2022 | $37.5M | -$20.5M | -$0.86 | -$9.9M | -64.1% | -74.4% |
| FY2021 | $24.7M | -$29.1M | -$1.23 | -$16.6M | -118.4% | -67.0% |
| FY2020 | $86.1M | -$13.2M | -$0.56 | $16.8M | -16.3% | -22.0% |
| FY2019 | $145.8M | -$15.2M | -$0.66 | $5.1M | -11.1% | -18.7% |
| FY2018 | $154.2M | -$24.4M | -$1.07 | -$2.9M | -16.2% | -22.2% |
| FY2017 | $157.1M | -$31.3M | -$1.44 | -$15.4M | -23.8% | -25.7% |
| FY2016 | $133.3M | -$39.8M | -$1.84 | $491.0K | -37.1% | -24.9% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
DAWSON GEOPHYSICAL CO is facing top-line stagnation, with revenue contracting over the decade.
DAWSON GEOPHYSICAL CO has historically struggled to out-earn its cost of capital, averaging just -34.0% ROIC.
DAWSON GEOPHYSICAL CO 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, DAWSON GEOPHYSICAL CO is modeled at -6.1% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $0.19 per share.