Fusemachines Inc. (FUSE) intrinsic value & 10-year financials
Fusemachines Inc. (FUSE) has a Graham intrinsic value of $1.13 per share. At $0.36 on Oct 17, 2026, the stock trades 68% below that value. Over the last 3 fiscal years revenue shrank 12.4% a year to $7.7M, with an average return on invested capital of 80.5%.
- Graham intrinsic value
- $1.13
- Share price (Oct 17, 2026)
- $0.36
- Price vs Graham value
- 68% below
- Market cap
- $4.2M
- Revenue (FY2025)
- $7.7M
- Revenue growth (3-yr CAGR)
- -12.4%
- ROIC (10-yr avg)
- 80.5%
- Free cash flow (FY2025)
- -$5.6M
FUSE 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $7.7M | -$928.0K | -$0.08 | -$5.6M | -77.2% | 48.2% |
| FY2024 | $8.8M | -$15.4M | -$2.21 | -$2.2M | -93.0% | 112.8% |
| FY2023 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Fusemachines Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Fusemachines Inc. has earned high returns on invested capital, averaging 80.5% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Fusemachines Inc. 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, Fusemachines Inc. is modeled at -12.4% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $1.13 per share.