Hubspot Inc. (HUBS) intrinsic value & 10-year financials
Hubspot Inc. (HUBS) has a Graham intrinsic value of $28.57 per share. At $230.94 on Oct 17, 2026, the stock trades 708% above that value. Over the last 10 fiscal years revenue grew 31.2% a year to $3.1B, with an average return on invested capital of -13.4%.
- Graham intrinsic value
- $28.57
- Share price (Oct 17, 2026)
- $230.94
- Price vs Graham value
- 708% above
- Market cap
- $12.3B
- Revenue (FY2025)
- $3.1B
- Revenue growth (10-yr CAGR)
- 31.2%
- ROIC (10-yr avg)
- -13.4%
- Free cash flow (FY2025)
- $707.6M
HUBS 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $3.1B | $45.9M | $0.86 | $707.6M | 0.2% | 0.3% |
| FY2024 | $2.6B | $4.6M | $0.09 | $560.7M | -2.6% | -2.3% |
| FY2023 | $2.2B | -$176.3M | -$3.53 | $317.3M | -9.6% | -18.9% |
| FY2022 | $1.7B | -$112.7M | -$2.35 | $235.7M | -6.3% | -12.4% |
| FY2021 | $1.3B | -$77.8M | -$1.66 | $210.0M | -4.2% | -7.6% |
| FY2020 | $883.0M | -$85.0M | -$1.90 | $51.6M | -5.8% | -7.9% |
| FY2019 | $674.9M | -$53.7M | — | $78.6M | -7.0% | -7.5% |
| FY2018 | $513.0M | -$63.8M | — | $62.5M | -9.4% | -21.2% |
| FY2017 | $375.6M | -$39.7M | — | $29.3M | -10.7% | -19.4% |
| FY2016 | $271.0M | -$45.6M | — | $3.6M | -16.5% | -37.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
HUBSPOT INC is a consistent compounder, expanding top-line revenue at 31.2% annually over the past decade.
HUBSPOT INC has historically struggled to out-earn its cost of capital, averaging just -8.0% ROIC.
HUBSPOT INC has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, HUBSPOT INC is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $28.57 per share.