Franklin Wireless Corp. (FKWL) intrinsic value & 10-year financials
Franklin Wireless Corp. (FKWL) has a Graham intrinsic value of $3.70 per share. At $2.25 on Oct 18, 2026, the stock trades 39% below that value. Over the last 10 fiscal years revenue shrank 2.9% a year to $46.1M, with an average return on invested capital of 34.1%.
- Graham intrinsic value
- $3.70
- Share price (Oct 18, 2026)
- $2.25
- Price vs Graham value
- 39% below
- Market cap
- $26.5M
- Revenue (FY2025)
- $46.1M
- Revenue growth (10-yr CAGR)
- -2.9%
- ROIC (10-yr avg)
- 34.1%
- Free cash flow (FY2025)
- $1.8M
FKWL 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $46.1M | -$243.1K | -$0.02 | $1.8M | -6.2% | -10.7% |
| FY2024 | $30.8M | -$4.0M | -$0.34 | -$828.4K | -19.3% | -18.9% |
| FY2023 | $45.9M | -$2.9M | -$0.24 | -$1.9M | -5.1% | -8.6% |
| FY2022 | $24.0M | -$3.8M | -$0.32 | -$7.4M | -20.7% | -54.7% |
| FY2021 | $184.1M | $17.7M | $1.53 | $12.1M | 12.4% | -463.4% |
| FY2020 | $75.1M | $5.6M | $0.52 | $21.8M | 9.4% | 862.8% |
| FY2019 | $36.5M | -$1.3M | -$0.12 | $674.3K | -5.8% | -18.9% |
| FY2018 | $30.1M | -$2.1M | -$0.20 | -$2.0M | -9.0% | -14.4% |
| FY2017 | $48.6M | $874.0K | $0.08 | $1.4M | 1.8% | 15.4% |
| FY2016 | $59.8M | $1.6M | $0.15 | $2.5M | 3.5% | 52.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
FRANKLIN WIRELESS CORP is facing top-line stagnation, with revenue contracting over the decade.
FRANKLIN WIRELESS CORP has historically struggled to out-earn its cost of capital, averaging just -5.4% ROIC.
FRANKLIN WIRELESS 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, FRANKLIN WIRELESS CORP is modeled at -2.9% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $3.70 per share.