International Stem Cell Corp. (ISCO) intrinsic value & 10-year financials
International Stem Cell Corp. (ISCO) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 2.7% a year to $9.1M, with an average return on invested capital of -19.1%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $0.29
- Market cap
- $2.3M
- Revenue (FY2025)
- $9.1M
- Revenue growth (10-yr CAGR)
- 2.7%
- ROIC (10-yr avg)
- -19.1%
- Free cash flow (FY2025)
- -$35.0K
ISCO 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $9.1M | -$418.0K | -$0.05 | -$35.0K | -2.9% | 5.3% |
| FY2024 | $9.1M | -$209.0K | -$0.03 | -$153.0K | -0.7% | 1.3% |
| FY2023 | $7.8M | -$131.0K | -$0.02 | $849.0K | -8.5% | 2.7% |
| FY2022 | $8.2M | -$331.0K | -$0.04 | $331.0K | -2.2% | 7.9% |
| FY2021 | $7.2M | -$899.0K | -$0.11 | -$1.3M | -26.8% | 22.5% |
| FY2020 | $7.1M | -$2.7M | — | -$369.0K | -39.5% | 79.8% |
| FY2019 | $9.5M | -$4.3M | — | -$1.6M | -60.5% | 160.7% |
| FY2018 | $11.1M | -$2.1M | -$0.33 | -$1.3M | -31.3% | -151.0% |
| FY2017 | $7.5M | -$6.1M | -$1.46 | -$2.3M | -66.3% | -179.4% |
| FY2016 | $7.2M | -$1.1M | -$0.34 | -$4.4M | -67.7% | -140.9% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
International Stem Cell CORP has demonstrated mature, steady growth, with revenue compounding at 2.7% annually over the past decade.
International Stem Cell CORP has historically struggled to out-earn its cost of capital, averaging just -2.3% ROIC.
International Stem Cell 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, International Stem Cell CORP is modeled at 2.7% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-0.60 per share.