Incannex Healthcare Inc. (IXHL) intrinsic value & 10-year financials
Incannex Healthcare Inc. (IXHL) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 4 fiscal years revenue grew 616.7% a year to $86.0K, with an average return on invested capital of 623.8%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $2.82
- Market cap
- $97.2M
- Revenue (FY2025)
- $86.0K
- Revenue growth (4-yr CAGR)
- 616.7%
- ROIC (10-yr avg)
- 623.8%
- Free cash flow (FY2025)
- -$12.5M
IXHL 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $86.0K | -$46.9M | -$1.35 | -$12.5M | -27661.6% | -2348.4% |
| FY2024 | $12.0K | -$18.5M | -$1.15 | -$16.1M | -250341.7% | -1283.3% |
| FY2023 | — | -$48.8M | -$3.32 | -$11.1M | — | 5502.9% |
| FY2022 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Incannex Healthcare Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Incannex Healthcare Inc. has historically struggled to out-earn its cost of capital, averaging just 6.2% ROIC.
Incannex Healthcare 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, Incannex Healthcare Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-44.84 per share.