Fluent, Inc. (FLNT) intrinsic value & 10-year financials
Fluent, Inc. (FLNT) has a Graham intrinsic value of $0.28 per share. At $2.72 on Oct 17, 2026, the stock trades 871% above that value. Over the last 10 fiscal years revenue grew 1.2% a year to $208.8M, with an average return on invested capital of -24.8%.
- Graham intrinsic value
- $0.28
- Share price (Oct 17, 2026)
- $2.72
- Price vs Graham value
- 871% above
- Market cap
- $70.6M
- Revenue (FY2025)
- $208.8M
- Revenue growth (10-yr CAGR)
- 1.2%
- ROIC (10-yr avg)
- -24.8%
- Free cash flow (FY2025)
- -$1.5M
FLNT 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $208.8M | -$27.2M | -$1.05 | -$1.5M | -9.7% | -43.7% |
| FY2024 | $254.6M | -$29.3M | -$1.80 | -$14.1M | -9.3% | -43.7% |
| FY2023 | $298.4M | -$63.2M | -$0.77 | $8.1M | -20.2% | -73.4% |
| FY2022 | $361.1M | -$123.3M | -$1.51 | $1.9M | -33.1% | -69.8% |
| FY2021 | $329.2M | -$10.1M | -$0.13 | $12.4M | -1.4% | -2.0% |
| FY2020 | $310.7M | $2.2M | $0.03 | $20.2M | 2.7% | 2.5% |
| FY2019 | $281.7M | -$1.7M | -$0.02 | $23.9M | 1.9% | 2.1% |
| FY2018 | $250.3M | -$17.9M | — | $23.2M | 4.5% | 4.4% |
| FY2017 | $211.7M | -$53.2M | — | $1.1M | -20.1% | -15.7% |
| FY2016 | $186.8M | -$29.1M | — | $1.3M | -18.2% | -8.5% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Fluent, Inc. has demonstrated mature, steady growth, with revenue compounding at 1.2% annually over the past decade.
Fluent, Inc. has historically struggled to out-earn its cost of capital, averaging just -24.8% ROIC.
Fluent, 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, Fluent, Inc. is modeled at 1.2% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $0.28 per share.