Elutia Inc. (ELUT) intrinsic value & 10-year financials

Elutia Inc. (ELUT) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 8 fiscal years revenue shrank 18.8% a year to $12.3M, with an average return on invested capital of -200.6%.

Graham intrinsic value
—
Share price (Oct 17, 2026)
$0.79
Market cap
$36.5M
Revenue (FY2025)
$12.3M
Revenue growth (8-yr CAGR)
-18.8%
ROIC (10-yr avg)
-200.6%
Free cash flow (FY2025)
-$46.7M

ELUT 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $12.3M $53.4M $0.87 -$46.7M -218.9% 132.1%
FY2024 $24.4M -$53.9M -$1.86 -$23.3M -146.3% 102.1%
FY2023 $24.7M -$37.7M -$2.07 -$22.1M -123.4% 196.9%
FY2022 $49.2M -$32.9M -$2.38 -$22.0M -64.5% -1325.0%
FY2021 $47.4M -$24.8M -$2.38 -$15.8M -48.6% -622.6%
FY2020 $42.7M -$21.8M -$8.88 -$14.3M -31.9% 89.2%
FY2019 $42.9M -$11.9M — -$7.8M -19.6% 23.2%
FY2018 — — — — — —

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

Executive summary

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

ELUTIA INC. has earned high returns on invested capital, averaging 47.0% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.

ELUTIA 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, ELUTIA INC. is modeled at -18.8% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-21.84 per share.

ELUT stock: frequently asked questions

What is the intrinsic value of Elutia Inc. (ELUT) stock?

Graham's formula only works with positive earnings. Elutia Inc. reported diluted EPS of $0.87 in fiscal 2025, so no Graham value is shown. The 10-year table shows revenue and cash-flow trends instead.

Does Elutia Inc. generate free cash flow?

Elutia Inc. generated -$46.7M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 7 reported years.

What is ELUT's return on invested capital?

Average ROIC over the last 8 fiscal years was -200.6%, and average return on equity was -149.0%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this ELUT data come from?

From Elutia Inc.'s annual 10-K filings on SEC EDGAR, most recently filed Aug 14, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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