Foghorn Therapeutics Inc. (FHTX) intrinsic value & 10-year financials
Foghorn Therapeutics Inc. (FHTX) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 8 fiscal years revenue grew 135.1% a year to $30.9M, with an average return on invested capital of -84.9%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $1.85
- Market cap
- $116.5M
- Revenue (FY2025)
- $30.9M
- Revenue growth (8-yr CAGR)
- 135.1%
- ROIC (10-yr avg)
- -84.9%
- Free cash flow (FY2025)
- -$86.1M
FHTX 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $30.9M | -$74.3M | -$1.18 | -$86.1M | -279.5% | 77.8% |
| FY2024 | $22.6M | -$86.6M | -$1.58 | -$101.3M | -454.3% | 105.9% |
| FY2023 | $34.2M | -$98.4M | -$2.34 | -$119.3M | -315.9% | 169.2% |
| FY2022 | $19.2M | -$108.9M | -$2.62 | $192.4M | -609.2% | -578.3% |
| FY2021 | $1.3M | -$101.3M | -$2.73 | -$53.6M | -7637.1% | -113.5% |
| FY2020 | $430.0K | -$68.8M | -$6.23 | -$47.5M | -15937.4% | -313.8% |
| FY2019 | — | -$51.1M | — | -$47.3M | — | 58.2% |
| FY2018 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Foghorn Therapeutics Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Foghorn Therapeutics Inc. has earned high returns on invested capital, averaging 17.3% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Foghorn Therapeutics 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, Foghorn Therapeutics Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-39.19 per share.