Establishment Labs Holdings Inc. (ESTA) intrinsic value & 10-year financials
Establishment Labs Holdings Inc. (ESTA) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 25.3% a year to $211.1M, with an average return on invested capital of -29.7%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $59.18
- Market cap
- $1.8B
- Revenue (FY2025)
- $211.1M
- Revenue growth (10-yr CAGR)
- 25.3%
- ROIC (10-yr avg)
- -29.7%
- Free cash flow (FY2025)
- -$56.9M
ESTA 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $211.1M | -$51.1M | -$1.72 | -$56.9M | -18.5% | -17.8% |
| FY2024 | $166.0M | -$84.6M | -$3.00 | -$64.6M | -30.1% | -28.0% |
| FY2023 | $165.2M | -$78.5M | -$3.07 | -$96.4M | -39.4% | -47.4% |
| FY2022 | $161.7M | -$75.2M | -$3.08 | -$55.0M | -24.5% | -51.1% |
| FY2021 | $126.7M | -$41.1M | -$1.72 | -$30.0M | -19.8% | -53.9% |
| FY2020 | $84.7M | -$38.1M | -$1.63 | -$14.9M | -33.0% | -60.5% |
| FY2019 | $89.6M | -$38.1M | -$1.86 | -$36.3M | -34.5% | -61.8% |
| FY2018 | $61.2M | -$21.1M | — | -$35.6M | -39.0% | -74.0% |
| FY2017 | $34.7M | -$34.9M | — | -$32.9M | -57.6% | 127.1% |
| FY2016 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
ESTABLISHMENT LABS HOLDINGS INC. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
ESTABLISHMENT LABS HOLDINGS INC. has historically struggled to out-earn its cost of capital, averaging just -45.8% ROIC.
ESTABLISHMENT LABS HOLDINGS 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, ESTABLISHMENT LABS HOLDINGS INC. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-57.13 per share.