FutureFuel Corp. (FF) intrinsic value & 10-year financials
FutureFuel Corp. (FF) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 10.2% a year to $95.7M, with an average return on invested capital of 4.1%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $5.58
- Market cap
- $244.7M
- Revenue (FY2025)
- $95.7M
- Revenue growth (10-yr CAGR)
- -10.2%
- ROIC (10-yr avg)
- 4.1%
- Free cash flow (FY2025)
- -$46.0M
FF 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $95.7M | -$49.4M | -$1.13 | -$46.0M | -55.3% | -55.0% |
| FY2024 | $243.3M | $15.5M | $0.35 | $10.1M | 2.6% | 6.5% |
| FY2023 | $368.2M | $37.4M | $0.85 | $18.0M | 7.4% | 30.3% |
| FY2022 | $396.0M | $15.2M | $0.35 | $47.7M | 4.4% | 6.1% |
| FY2021 | $321.4M | $26.3M | $0.60 | $42.6M | 4.0% | 3.9% |
| FY2020 | $204.5M | $46.6M | $1.06 | $91.9M | 10.9% | 5.3% |
| FY2019 | $205.2M | $88.2M | $2.02 | $27.7M | 31.8% | 15.3% |
| FY2018 | $291.0M | $53.2M | $1.22 | $80.7M | 21.8% | 15.1% |
| FY2017 | $275.0M | $23.5M | $0.54 | $35.8M | 3.6% | 2.9% |
| FY2016 | $253.2M | $56.3M | $1.29 | $86.5M | 14.4% | 11.0% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
FutureFuel Corp. is facing top-line stagnation, with revenue contracting over the decade.
FutureFuel Corp. has historically struggled to out-earn its cost of capital, averaging just 4.1% ROIC.
FutureFuel 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, FutureFuel Corp. is modeled at -10.2% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-3.62 per share.