Iridium Communications Inc. (IRDM) intrinsic value & 10-year financials
Iridium Communications Inc. (IRDM) has a Graham intrinsic value of $11.36 per share. At $43.76 on Oct 17, 2026, the stock trades 285% above that value. Over the last 10 fiscal years revenue grew 48.6% a year to $871.7M, with an average return on invested capital of 3.2%.
- Graham intrinsic value
- $11.36
- Share price (Oct 17, 2026)
- $43.76
- Price vs Graham value
- 285% above
- Market cap
- $4.7B
- Revenue (FY2025)
- $871.7M
- Revenue growth (10-yr CAGR)
- 48.6%
- ROIC (10-yr avg)
- 3.2%
- Free cash flow (FY2025)
- $299.8M
IRDM 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $871.7M | $114.4M | $1.06 | $299.8M | 27.1% | 8.6% |
| FY2024 | $830.7M | $112.8M | $0.94 | $306.1M | 24.1% | 7.9% |
| FY2023 | $790.7M | $15.4M | $0.12 | $241.4M | 10.3% | 1.7% |
| FY2022 | $721.0M | $8.7M | $0.07 | $273.5M | 10.6% | 2.9% |
| FY2021 | $614.5M | -$9.3M | — | $260.7M | 7.5% | 0.9% |
| FY2020 | $583.4M | -$56.1M | — | $211.1M | 6.1% | 0.8% |
| FY2019 | $560.4M | -$162.0M | -$1.33 | $80.3M | 1.8% | 0.2% |
| FY2018 | $18.4M | -$13.4M | -$0.22 | -$127.7M | 226.3% | 0.9% |
| FY2017 | $21.2M | $233.9M | $1.82 | -$140.5M | 544.9% | 4.0% |
| FY2016 | $24.6M | $111.0M | $0.89 | -$180.5M | 716.8% | 4.0% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Iridium Communications Inc. is a consistent compounder, expanding top-line revenue at 48.6% annually over the past decade.
Iridium Communications Inc. has historically struggled to out-earn its cost of capital, averaging just 3.2% ROIC.
Over the decade, Iridium Communications Inc. shows that management has aggressively returned capital to shareholders by retiring 13.6% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Iridium Communications Inc. is modeled at 2.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $11.36 per share.