Fair Isaac Corp. (FICO) intrinsic value & 10-year financials
Fair Isaac Corp. (FICO) has a Graham intrinsic value of $881.54 per share. At $771.19 on Oct 17, 2026, the stock trades 13% below that value. Over the last 10 fiscal years revenue grew 9.5% a year to $2.0B, with an average return on invested capital of 38.5%.
- Graham intrinsic value
- $881.54
- Share price (Oct 17, 2026)
- $771.19
- Price vs Graham value
- 13% below
- Market cap
- $18.9B
- Revenue (FY2025)
- $2.0B
- Revenue growth (10-yr CAGR)
- 9.5%
- ROIC (10-yr avg)
- 38.5%
- Free cash flow (FY2025)
- $769.9M
FICO 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $2.0B | $651.9M | $26.54 | $769.9M | 46.5% | 64.7% |
| FY2024 | $1.7B | $512.8M | $20.45 | $624.1M | 42.7% | 54.9% |
| FY2023 | $1.5B | $429.4M | $16.93 | $464.7M | 42.5% | 51.4% |
| FY2022 | $1.4B | $373.5M | $14.18 | $503.4M | 39.4% | 51.1% |
| FY2021 | $1.3B | $392.1M | $13.40 | $416.2M | 38.4% | 48.0% |
| FY2020 | $1.3B | $236.4M | $7.90 | $342.9M | 22.9% | 30.6% |
| FY2019 | $1.2B | $192.1M | $6.34 | $236.4M | 21.9% | 30.2% |
| FY2018 | $1.0B | $142.4M | $4.57 | $191.8M | 20.6% | 21.0% |
| FY2017 | $935.0M | $128.3M | $3.98 | $205.8M | 19.0% | 18.2% |
| FY2016 | $881.4M | $109.4M | $3.39 | $163.3M | 19.2% | 14.8% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Fair Isaac is a consistent compounder, expanding top-line revenue at 9.5% annually over the past decade.
Fair Isaac has earned high returns on invested capital, averaging 38.5% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Over the decade, Fair Isaac shows that management has aggressively returned capital to shareholders by retiring 24.0% of outstanding shares, and that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Fair Isaac is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $881.54 per share.