JFrog Ltd. (FROG) intrinsic value & 10-year financials
JFrog Ltd. (FROG) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 9 fiscal years revenue grew 35.5% a year to $531.8M, with an average return on invested capital of 2.5%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $84.31
- Market cap
- $9.8B
- Revenue (FY2025)
- $531.8M
- Revenue growth (9-yr CAGR)
- 35.5%
- ROIC (10-yr avg)
- 2.5%
- Free cash flow (FY2025)
- $142.3M
FROG 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $531.8M | -$71.8M | -$0.62 | $142.3M | -17.3% | -11.9% |
| FY2024 | $428.5M | -$69.2M | -$0.63 | $107.8M | -21.3% | -13.6% |
| FY2023 | $349.9M | -$61.3M | -$0.59 | $72.2M | -21.6% | -12.5% |
| FY2022 | $280.0M | -$90.2M | -$0.91 | $17.1M | -32.1% | -15.1% |
| FY2021 | $206.7M | -$64.2M | -$0.68 | $23.7M | -33.1% | -13.3% |
| FY2020 | $150.8M | -$9.4M | -$0.10 | $25.9M | -9.4% | -2.8% |
| FY2019 | $104.7M | -$5.4M | — | $8.2M | -6.6% | 19.2% |
| FY2018 | $63.5M | -$26.0M | — | $6.5M | -42.3% | 70.0% |
| FY2017 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
JFrog Ltd revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
JFrog Ltd has historically struggled to out-earn its cost of capital, averaging just 2.5% ROIC.
JFrog Ltd capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, JFrog Ltd is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-20.59 per share.