Gh Research PLC (GHRS) intrinsic value & 10-year financials

Gh Research PLC (GHRS) has no Graham intrinsic value right now because the formula needs positive earnings.

Graham intrinsic value
—
Share price (Oct 21, 2026)
$19.17
Market cap
$1.2B
Revenue (FY2025)
—
ROIC (10-yr avg)
-20.1%
Free cash flow (FY2025)
-$43.7M

GHRS 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 — -$48.3M -$0.79 -$43.7M — -21.0%
FY2024 — -$39.0M -$0.75 -$42.3M — -19.6%
FY2023 — -$35.6M -$0.68 -$33.4M — -15.2%
FY2022 — -$22.5M -$0.43 -$26.3M — -8.5%
FY2021 — -$9.2M -$0.21 -$15.4M — -6.5%
FY2020 — -$446.0K -$0.02 — — -14.7%
FY2019 — -$310.0K -$0.01 — — -55.3%
FY2018 — — — — — —

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

Executive summary

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

GH Research PLC has historically struggled to out-earn its cost of capital, averaging just -20.1% ROIC.

GH Research PLC capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.

Benjamin Graham lens

GH Research PLC is evaluated under Benjamin Graham's defensive framework using SEC EDGAR fundamentals using an 8.5 + 2g earnings multiple and a 5.1% AAA bond-yield baseline.

GHRS stock: frequently asked questions

What is the intrinsic value of Gh Research PLC (GHRS) stock?

Graham's formula only works with positive earnings. Gh Research PLC reported diluted EPS of -$0.79 in fiscal 2025, so no Graham value is shown. The 10-year table shows revenue and cash-flow trends instead.

Does Gh Research PLC generate free cash flow?

Gh Research PLC generated -$43.7M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 5 reported years.

What is GHRS's return on invested capital?

Average ROIC over the last 8 fiscal years was -20.1%, and average return on equity was -20.1%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this GHRS data come from?

From Gh Research PLC's annual 10-K filings on SEC EDGAR, most recently filed Mar 5, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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