Gogoro Inc. (GGR) intrinsic value & 10-year financials

Gogoro Inc. (GGR) has a Graham intrinsic value of $27.12 per share. Over the last 8 fiscal years revenue shrank 7.2% a year to $281.5M, with an average return on invested capital of -26.7%.

Graham intrinsic value
$27.12
Revenue (FY2025)
$281.5M
Revenue growth (8-yr CAGR)
-7.2%
ROIC (10-yr avg)
-26.7%
Free cash flow (FY2025)
-$29.1M

GGR 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $281.5M -$80.0M -$5.42 -$29.1M -26.0% -18.0%
FY2024 $310.6M -$122.8M -$0.46 -$114.6M -45.6% -31.4%
FY2023 $349.8M -$76.0M -$0.32 -$58.7M -25.3% -19.0%
FY2022 $382.8M -$98.9M -$0.45 -$187.9M -77.9% -76.0%
FY2021 $366.0M -$67.4M -$0.35 -$46.9M -15.7% -20.6%
FY2020 $364.1M -$49.3M -$0.25 -$143.5M -10.0% -16.6%
FY2019 $439.2M -$13.1M -$0.07 -$151.0M -2.5% -5.0%
FY2018 — — — — — —

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

Gogoro Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.

Gogoro Inc. has historically struggled to out-earn its cost of capital, averaging just -30.3% ROIC.

Gogoro 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, Gogoro Inc. is modeled at -7.2% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $27.12 per share.

GGR stock: frequently asked questions

What is the intrinsic value of Gogoro Inc. (GGR) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a -7.2% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, GGR's intrinsic value is about $27.12 per share.

Does Gogoro Inc. generate free cash flow?

Gogoro Inc. generated -$29.1M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 7 reported years.

What is GGR's return on invested capital?

Average ROIC over the last 8 fiscal years was -26.7%, and average return on equity was -37.6%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this GGR data come from?

From Gogoro Inc.'s annual 10-K filings on SEC EDGAR, most recently filed Mar 31, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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