EUROSEAS LTD. (ESEA) intrinsic value & 10-year financials
EUROSEAS LTD. (ESEA) has a Graham intrinsic value of $655.01 per share. Over the last 10 fiscal years revenue grew 26.0% a year to $227.9M, with an average return on invested capital of 12.7%.
- Graham intrinsic value
- $655.01
- Revenue (FY2025)
- $227.9M
- Revenue growth (10-yr CAGR)
- 26.0%
- ROIC (10-yr avg)
- 12.7%
- Free cash flow (FY2025)
- —
ESEA 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $227.9M | $137.0M | $19.72 | — | 65.6% | 27.4% |
| FY2024 | $212.9M | $112.8M | $16.20 | — | 56.4% | 27.1% |
| FY2023 | $189.4M | $114.5M | $16.52 | — | 63.1% | 39.0% |
| FY2022 | $182.7M | $106.2M | $14.78 | — | 58.4% | 50.8% |
| FY2021 | $93.9M | $43.0M | $6.06 | — | 48.7% | 33.2% |
| FY2020 | $53.3M | $4.0M | $0.58 | $1.8M | 17.4% | 4.2% |
| FY2019 | $40.0M | -$1.7M | -$1.21 | -$52.5M | 4.9% | -2.4% |
| FY2018 | $34.4M | -$663.4K | — | -$1.5M | 6.8% | -1.2% |
| FY2017 | $42.9M | -$6.1M | — | -$31.7M | -6.5% | -6.9% |
| FY2016 | $28.4M | -$44.2M | — | -$28.2M | -76.1% | -43.9% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
EUROSEAS LTD. is a consistent compounder, expanding top-line revenue at 26.0% annually over the past decade.
EUROSEAS LTD. returns on capital have been average, hovering around 12.7% ROIC over the decade.
Over the decade, EUROSEAS LTD. shows that management has aggressively returned capital to shareholders by retiring 14.9% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, EUROSEAS LTD. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $655.01 per share.