U S Global Investors Inc. (GROW) intrinsic value & 10-year financials
U S Global Investors Inc. (GROW) has a Graham intrinsic value of $2.99 per share. At $2.72 on Oct 17, 2026, the stock trades 9% below that value. Over the last 10 fiscal years revenue grew 43.9% a year to $8.5M, with an average return on invested capital of -1.7%.
- Graham intrinsic value
- $2.99
- Share price (Oct 17, 2026)
- $2.72
- Price vs Graham value
- 9% below
- Market cap
- $36.3M
- Revenue (FY2025)
- $8.5M
- Revenue growth (10-yr CAGR)
- 43.9%
- ROIC (10-yr avg)
- -1.7%
- Free cash flow (FY2025)
- -$829.0K
GROW 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $8.5M | -$334.0K | -$0.03 | -$829.0K | -35.3% | -14.1% |
| FY2024 | $11.0M | $1.3M | $0.09 | $777.0K | -4.4% | -1.4% |
| FY2023 | $15.1M | $3.1M | $0.22 | $2.9M | 23.4% | 8.9% |
| FY2022 | $24.7M | $5.5M | $0.37 | $10.3M | 45.0% | 23.2% |
| FY2021 | $21.7M | $32.0M | $2.12 | $4.7M | 37.7% | 25.5% |
| FY2020 | $4.5M | -$4.7M | -$0.31 | -$240.0K | -53.7% | -13.8% |
| FY2019 | $4.9M | -$3.4M | -$0.22 | -$1.2M | -60.3% | -12.1% |
| FY2018 | $6.3M | $647.0K | $0.04 | -$34.0K | -36.5% | -9.0% |
| FY2017 | $6.8M | -$513.0K | -$0.03 | $690.0K | -12.9% | -4.3% |
| FY2016 | $320.0K | -$3.7M | -$0.24 | $3.0M | -1305.0% | -20.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
U S GLOBAL INVESTORS INC is a consistent compounder, expanding top-line revenue at 43.9% annually over the past decade.
U S GLOBAL INVESTORS INC has historically struggled to out-earn its cost of capital, averaging just -1.7% ROIC.
Over the decade, U S GLOBAL INVESTORS INC shows that management has aggressively returned capital to shareholders by retiring 12.8% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, U S GLOBAL INVESTORS INC is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $2.99 per share.