Guerrilla RF, Inc. (GUER) intrinsic value & 10-year financials

Guerrilla RF, Inc. (GUER) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 7 fiscal years revenue grew 22.9% a year to $22.7M, with an average return on invested capital of -402.5%.

Graham intrinsic value
—
Share price (Oct 17, 2026)
$4.12
Revenue (FY2025)
$22.7M
Revenue growth (7-yr CAGR)
22.9%
ROIC (10-yr avg)
-402.5%
Free cash flow (FY2025)
-$2.8M

GUER 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $22.7M -$7.0M — -$2.8M -20.5% 30.3%
FY2024 $20.1M -$10.8M — -$7.0M -43.6% 129.5%
FY2023 $15.1M -$16.0M — -$13.6M -85.7% -2044.3%
FY2022 $11.6M -$12.0M — -$9.8M -95.9% -437.7%
FY2021 $10.5M -$2.8M — -$5.2M -35.0% -58.0%
FY2020 $8.1M -$2.0M — -$2.3M -19.1% -34.8%
FY2019 — — — — — —

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

Executive summary

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

Guerrilla RF, Inc. has historically struggled to out-earn its cost of capital, averaging just 7.0% ROIC.

Guerrilla RF, 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, Guerrilla RF, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment.

GUER stock: frequently asked questions

Does Guerrilla RF, Inc. generate free cash flow?

Guerrilla RF, Inc. generated -$2.8M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 6 reported years.

What is GUER's return on invested capital?

Average ROIC over the last 7 fiscal years was -402.5%, and average return on equity was 140.7%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this GUER data come from?

From Guerrilla RF, Inc.'s annual 10-K filings on SEC EDGAR, most recently filed May 13, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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