KalVista Pharmaceuticals, Inc. (KALV) intrinsic value & 10-year financials

KalVista Pharmaceuticals, Inc. (KALV) has no Graham intrinsic value right now because the formula needs positive earnings.

Graham intrinsic value
—
Revenue (FY2025)
—
Revenue growth (10-yr CAGR)
48.3%
ROIC (10-yr avg)
12.0%
Free cash flow (FY2025)
-$153.3M

KALV 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 — -$183.4M -$3.69 -$153.3M — -252.5%
FY2024 $50.0M -$126.6M -$3.44 -$89.3M -280.9% -96.0%
FY2023 — -$92.9M -$3.33 -$76.5M — -81.1%
FY2022 — -$82.3M -$3.36 -$79.1M — -51.8%
FY2021 — -$46.2M -$2.42 -$30.3M — -41.3%
FY2020 $12.7M -$29.1M -$1.64 -$45.0M -319.4% -58.5%
FY2019 $16.1M -$20.8M — -$37.4M -184.9% -48.1%
FY2018 $8.4M -$15.8M — $9.1M -222.8% -63.9%
FY2017 $1.5M -$18.6M — -$23.8M -1485.3% 772.3%
FY2016 $2.1M -$11.4M — -$13.2M -711.7% 40.9%

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

KalVista Pharmaceuticals, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.

KalVista Pharmaceuticals, Inc. has historically struggled to out-earn its cost of capital, averaging just -39.4% ROIC.

KalVista Pharmaceuticals, 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, KalVista Pharmaceuticals, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-122.57 per share.

KALV stock: frequently asked questions

What is the intrinsic value of KalVista Pharmaceuticals, Inc. (KALV) stock?

Graham's formula only works with positive earnings. KalVista Pharmaceuticals, Inc. reported diluted EPS of -$3.69 in fiscal 2025, so no Graham value is shown. The 10-year table shows revenue and cash-flow trends instead.

Does KalVista Pharmaceuticals, Inc. generate free cash flow?

KalVista Pharmaceuticals, Inc. generated -$153.3M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 1 of the last 10 reported years.

What is KALV's return on invested capital?

Average ROIC over the last 10 fiscal years was 12.0%, and average return on equity was 24.6%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this KALV data come from?

From KalVista Pharmaceuticals, Inc.'s annual 10-K filings on SEC EDGAR, most recently filed May 14, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

Similar pharmaceutical preparations stocks