Funko, Inc. (FNKO) intrinsic value & 10-year financials
Funko, Inc. (FNKO) has a Graham intrinsic value of $22.83 per share. At $6.63 on Oct 17, 2026, the stock trades 71% below that value. Over the last 10 fiscal years revenue grew 8.8% a year to $908.2M, with an average return on invested capital of 2.2%.
- Graham intrinsic value
- $22.83
- Share price (Oct 17, 2026)
- $6.63
- Price vs Graham value
- 71% below
- Market cap
- $360.6M
- Revenue (FY2025)
- $908.2M
- Revenue growth (10-yr CAGR)
- 8.8%
- ROIC (10-yr avg)
- 2.2%
- Free cash flow (FY2025)
- -$38.1M
FNKO 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $908.2M | -$67.4M | -$1.24 | -$38.1M | -5.0% | -11.4% |
| FY2024 | $1.0B | -$14.7M | -$0.28 | $90.7M | 1.2% | 3.2% |
| FY2023 | $1.1B | -$154.1M | -$3.19 | -$4.2M | -9.5% | -22.0% |
| FY2022 | $1.3B | -$8.0M | -$0.18 | -$99.3M | -0.9% | -1.3% |
| FY2021 | $1.0B | $43.9M | $1.08 | $59.6M | 9.3% | 16.2% |
| FY2020 | $652.5M | $4.0M | $0.11 | $88.8M | 3.6% | 3.4% |
| FY2019 | $795.1M | $11.7M | $0.36 | $48.5M | 5.9% | 7.9% |
| FY2018 | $686.1M | $9.4M | $0.37 | $23.1M | 9.3% | 11.7% |
| FY2017 | $516.1M | $3.7M | $0.00 | -$9.7M | 8.2% | 7.8% |
| FY2016 | $426.7M | $26.9M | — | $28.3M | 10.3% | 6.4% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Funko, Inc. is a consistent compounder, expanding top-line revenue at 8.8% annually over the past decade.
Funko, Inc. has historically struggled to out-earn its cost of capital, averaging just 2.2% ROIC.
Funko, 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, Funko, Inc. is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $22.83 per share.