Five9, Inc. (FIVN) intrinsic value & 10-year financials
Five9, Inc. (FIVN) has a Graham intrinsic value of $14.95 per share. At $32.23 on Oct 17, 2026, the stock trades 116% above that value. Over the last 10 fiscal years revenue grew 24.3% a year to $1.1B, with an average return on invested capital of -32.1%.
- Graham intrinsic value
- $14.95
- Share price (Oct 17, 2026)
- $32.23
- Price vs Graham value
- 116% above
- Market cap
- $2.8B
- Revenue (FY2025)
- $1.1B
- Revenue growth (10-yr CAGR)
- 24.3%
- ROIC (10-yr avg)
- -32.1%
- Free cash flow (FY2025)
- $201.2M
FIVN 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.1B | $39.4M | $0.45 | $201.2M | 2.5% | 5.6% |
| FY2024 | $1.0B | -$12.8M | -$0.17 | $100.8M | -4.9% | -13.8% |
| FY2023 | $910.5M | -$81.8M | -$1.13 | $97.6M | -10.8% | -32.6% |
| FY2022 | $778.8M | -$94.7M | -$1.35 | $36.6M | -11.2% | -51.8% |
| FY2021 | $609.6M | -$53.0M | -$0.79 | -$13.7M | -9.2% | -40.1% |
| FY2020 | $434.9M | -$42.1M | -$0.66 | $36.9M | -2.8% | -12.4% |
| FY2019 | $328.0M | -$4.6M | -$0.08 | $32.0M | 1.0% | 1.7% |
| FY2018 | $257.7M | -$221.0K | — | $29.4M | 2.7% | 2.6% |
| FY2017 | $200.2M | -$9.0M | — | $8.5M | -2.9% | -68.6% |
| FY2016 | $162.1M | -$11.9M | — | $5.7M | -4.0% | -111.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Five9, Inc. is a consistent compounder, expanding top-line revenue at 24.3% annually over the past decade.
Five9, Inc. has historically struggled to out-earn its cost of capital, averaging just -32.1% ROIC.
Five9, Inc. 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, Five9, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $14.95 per share.