Iradimed Corp. (IRMD) intrinsic value & 10-year financials
Iradimed Corp. (IRMD) has a Graham intrinsic value of $50.97 per share. At $88.27 on Oct 17, 2026, the stock trades 73% above that value. Over the last 10 fiscal years revenue grew 11.1% a year to $83.8M, with an average return on invested capital of 44.8%.
- Graham intrinsic value
- $50.97
- Share price (Oct 17, 2026)
- $88.27
- Price vs Graham value
- 73% above
- Market cap
- $1.1B
- Revenue (FY2025)
- $83.8M
- Revenue growth (10-yr CAGR)
- 11.1%
- ROIC (10-yr avg)
- 44.8%
- Free cash flow (FY2025)
- $17.2M
IRMD 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $83.8M | $22.5M | $1.75 | $17.2M | 31.2% | 59.9% |
| FY2024 | $73.2M | $19.2M | $1.50 | $17.6M | 30.0% | 60.2% |
| FY2023 | $65.6M | $17.2M | $1.35 | $6.0M | 30.6% | 77.5% |
| FY2022 | $53.3M | $12.8M | $1.02 | $9.2M | 29.3% | 82.6% |
| FY2021 | $41.8M | $9.3M | $0.74 | $10.8M | 23.5% | 71.2% |
| FY2020 | $31.7M | $1.4M | $0.11 | $5.4M | -2.4% | -2.6% |
| FY2019 | $38.5M | $9.6M | $0.78 | $9.9M | 22.5% | 58.6% |
| FY2018 | $30.4M | $6.3M | $0.52 | $7.1M | 19.7% | 16.0% |
| FY2017 | $23.1M | $499.8K | $0.04 | $2.6M | 5.6% | 2.0% |
| FY2016 | $32.5M | $7.2M | $0.60 | $8.6M | 33.6% | 22.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
IRADIMED CORP is a consistent compounder, expanding top-line revenue at 11.1% annually over the past decade.
IRADIMED CORP has earned high returns on invested capital, averaging 58.2% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
IRADIMED CORP 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, IRADIMED CORP is modeled at 12.6% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $50.97 per share.