Immuron Ltd. (IMRN) intrinsic value & 10-year financials
Immuron Ltd. (IMRN) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 24.7% a year to AUD 7.3M, with an average return on invested capital of -57.7%.
- Graham intrinsic value
- —
- Revenue (FY2025)
- AUD 7.3M
- Revenue growth (10-yr CAGR)
- 24.7%
- ROIC (10-yr avg)
- -57.7%
- Free cash flow (FY2025)
- —
IMRN 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | AUD 7.3M | -AUD 5.2M | -AUD 2.26 | — | -73.3% | -50.2% |
| FY2024 | AUD 4.9M | -AUD 6.9M | -AUD 3.04 | -AUD 5.9M | -118.3% | -42.9% |
| FY2023 | AUD 1.8M | -AUD 3.8M | -AUD 1.66 | -AUD 2.6M | -197.8% | -13.3% |
| FY2022 | AUD 765.2K | -AUD 2.9M | -AUD 1.25 | -AUD 3.2M | -375.0% | -9.4% |
| FY2021 | AUD 145.8K | -AUD 8.4M | -AUD 3.79 | -AUD 4.1M | -5748.5% | -42.2% |
| FY2020 | AUD 1.9M | -AUD 2.9M | — | -AUD 3.1M | -153.0% | -35.1% |
| FY2019 | AUD 2.4M | -AUD 4.6M | — | -AUD 1.8M | -194.0% | -46.0% |
| FY2018 | AUD 1.8M | -AUD 3.0M | — | -AUD 3.5M | -162.1% | -86.2% |
| FY2017 | AUD 1.4M | -AUD 6.8M | — | -AUD 7.0M | -481.5% | -193.9% |
| FY2016 | AUD 1.0M | -AUD 7.1M | — | -AUD 5.2M | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in AUD.
Executive summary
Immuron Ltd is a consistent compounder, expanding top-line revenue at 24.7% annually over the past decade.
Immuron Ltd has historically struggled to out-earn its cost of capital, averaging just -44.1% ROIC.
Immuron Ltd 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, Immuron Ltd is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-75.07 per share.