Expensify, Inc. (EXFY) intrinsic value & 10-year financials
Expensify, Inc. (EXFY) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 8 fiscal years revenue grew 9.9% a year to $142.1M, with an average return on invested capital of -237.5%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $2.42
- Market cap
- $223.3M
- Revenue (FY2025)
- $142.1M
- Revenue growth (8-yr CAGR)
- 9.9%
- ROIC (10-yr avg)
- -237.5%
- Free cash flow (FY2025)
- $20.1M
EXFY 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $142.1M | -$21.4M | -$0.23 | $20.1M | -12.7% | -22.5% |
| FY2024 | $139.2M | -$10.1M | -$0.12 | $23.9M | -0.6% | -1.1% |
| FY2023 | $150.7M | -$41.5M | -$0.50 | $175.0K | -22.0% | -58.8% |
| FY2022 | $169.5M | -$27.0M | -$0.33 | $32.3M | -9.0% | -39.5% |
| FY2021 | $142.8M | -$13.6M | -$0.36 | $2.8M | -7.2% | -1530.2% |
| FY2020 | $88.1M | -$1.7M | -$0.06 | $5.1M | 6.4% | -9.4% |
| FY2019 | $80.5M | $1.2M | $0.00 | $9.2M | 1.5% | -1.2% |
| FY2018 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Expensify, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Expensify, Inc. has historically struggled to out-earn its cost of capital, averaging just -21.1% ROIC.
Expensify, 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, Expensify, Inc. is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-4.86 per share.