Escalon Medical Corp. (ESMC) intrinsic value & 10-year financials
Escalon Medical Corp. (ESMC) has a Graham intrinsic value of $0.12 per share. At $0.17 on Oct 17, 2026, the stock trades 42% above that value. Over the last 10 fiscal years revenue grew 0.4% a year to $12.0M, with an average return on invested capital of -16.3%.
- Graham intrinsic value
- $0.12
- Share price (Oct 17, 2026)
- $0.17
- Price vs Graham value
- 42% above
- Market cap
- $2.4M
- Revenue (FY2025)
- $12.0M
- Revenue growth (10-yr CAGR)
- 0.4%
- ROIC (10-yr avg)
- -16.3%
- Free cash flow (FY2025)
- $376.8K
ESMC 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $12.0M | $105.5K | $0.00 | $376.8K | 1.1% | 8.5% |
| FY2024 | $12.0M | -$125.3K | -$0.01 | -$643.1K | -0.9% | -7.3% |
| FY2023 | $12.2M | $456.8K | $0.01 | $318.5K | 3.9% | 33.2% |
| FY2022 | $10.7M | $18.1K | $0.00 | -$1.0M | -4.4% | -41.5% |
| FY2021 | $10.5M | -$52.0K | -$0.01 | $829.3K | -0.3% | -4.3% |
| FY2020 | $9.4M | -$650.3K | -$0.04 | -$228.2K | -14.9% | -34.8% |
| FY2019 | $9.6M | -$250.0K | -$0.02 | -$494.8K | -2.6% | -13.7% |
| FY2018 | $11.4M | $583.7K | $0.03 | $77.4K | 1.8% | 45.0% |
| FY2017 | $11.2M | -$726.9K | -$0.05 | -$506.0K | -5.6% | -64.3% |
| FY2016 | $11.6M | -$1.2M | -$0.07 | -$1.3M | -9.9% | -83.9% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
ESCALON MEDICAL CORP has demonstrated mature, steady growth, with revenue compounding at 0.4% annually over the past decade.
ESCALON MEDICAL CORP has historically struggled to out-earn its cost of capital, averaging just -16.3% ROIC.
ESCALON MEDICAL CORP 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, ESCALON MEDICAL CORP is modeled at 0.4% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $0.12 per share.