Greystone Housing Impact Investors LP (GHI) intrinsic value & 10-year financials

Greystone Housing Impact Investors LP (GHI) has a Graham intrinsic value of $11.08 per share. At $4.97 on Oct 17, 2026, the stock trades 55% below that value. Over the last 10 fiscal years revenue grew 4.2% a year to $85.4M.

Graham intrinsic value
$11.08
Share price (Oct 17, 2026)
$4.97
Price vs Graham value
55% below
Market cap
$139.4M
Revenue (FY2025)
$85.4M
Revenue growth (10-yr CAGR)
4.2%
Free cash flow (FY2025)
—

GHI 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $85.4M -$7.6M -$0.52 — — —
FY2024 $91.3M $21.3M $0.76 — — —
FY2023 $104.9M $54.0M $2.07 — — —
FY2022 $81.1M $65.6M $2.62 — — —
FY2021 $68.5M $38.1M $1.53 — — —
FY2020 $55.5M $7.2M — — — —
FY2019 $62.3M $30.5M — — — —
FY2018 $81.4M $41.1M — — — —
FY2017 $70.4M $30.6M — — — —
FY2016 $59.0M $23.8M — $5.3M 40.3% —

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

Executive summary

Greystone Housing Impact Investors LP has demonstrated mature, steady growth, with revenue compounding at 4.2% annually over the past decade.

Greystone Housing Impact Investors LP 10-year average ROIC is N/A; capital efficiency cannot be assessed from the available history.

Greystone Housing Impact Investors LP 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, Greystone Housing Impact Investors LP is modeled at 4.2% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $11.08 per share.

GHI stock: frequently asked questions

What is the intrinsic value of Greystone Housing Impact Investors LP (GHI) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a 4.2% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, GHI's intrinsic value is about $11.08 per share.

Is GHI stock undervalued?

At $4.97 (close on Oct 17, 2026), GHI trades 55% below its Graham value of $11.08. On Graham's terms that leaves a margin of safety. A formula is a starting point for research, not a recommendation.

How fast has Greystone Housing Impact Investors LP grown?

Revenue went from $59.0M in fiscal 2016 to $85.4M in fiscal 2025, a compound annual growth rate of 4.2%. Net income was -$7.6M in fiscal 2025.

Where does this GHI data come from?

From Greystone Housing Impact Investors LP's annual 10-K filings on SEC EDGAR, most recently filed May 11, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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