ImageneBio, Inc. (IMA) intrinsic value & 10-year financials

ImageneBio, Inc. (IMA) has a Graham intrinsic value of $572.03 per share. At $4.04 on Oct 17, 2026, the stock trades 99% below that value. Over the last 7 fiscal years revenue shrank 38.6% a year to $800.0K, with an average return on invested capital of -69.5%.

Graham intrinsic value
$572.03
Share price (Oct 17, 2026)
$4.04
Price vs Graham value
99% below
Market cap
$19.0M
Revenue (FY2025)
$800.0K
Revenue growth (7-yr CAGR)
-38.6%
ROIC (10-yr avg)
-69.5%
Free cash flow (FY2025)
—

IMA 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $800.0K -$45.3M -$9.64 — -6056.4% -76.3%
FY2024 $3.5M -$49.2M -$1.02 — -1684.9% -82.0%
FY2023 $9.2M -$68.2M -$1.63 -$80.2M -823.3% -101.8%
FY2022 $15.6M -$68.8M -$1.90 -$75.5M -454.0% -198.0%
FY2021 $31.0M -$34.1M -$1.22 -$62.0M -110.2% 24.1%
FY2020 $9.2M -$44.3M — -$38.6M -484.2% 16.8%
FY2019 — — — — — —

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

Executive summary

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

ImageneBio, Inc. has historically struggled to out-earn its cost of capital, averaging just -36.8% ROIC.

ImageneBio, 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, ImageneBio, Inc. is modeled at -38.6% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $572.03 per share.

IMA stock: frequently asked questions

What is the intrinsic value of ImageneBio, Inc. (IMA) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a -38.6% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, IMA's intrinsic value is about $572.03 per share.

Is IMA stock undervalued?

At $4.04 (close on Oct 17, 2026), IMA trades 99% below its Graham value of $572.03. On Graham's terms that leaves a margin of safety. A formula is a starting point for research, not a recommendation.

What is IMA's return on invested capital?

Average ROIC over the last 7 fiscal years was -69.5%, and average return on equity was -26.6%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this IMA data come from?

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

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