Koil Energy Solutions, Inc. (KLNG) intrinsic value & 10-year financials

Koil Energy Solutions, Inc. (KLNG) has a Graham intrinsic value of $1.32 per share. At $2.97 on Oct 17, 2026, the stock trades 125% above that value. Over the last 10 fiscal years revenue shrank 0.6% a year to $24.1M, with an average return on invested capital of -15.0%.

Graham intrinsic value
$1.32
Share price (Oct 17, 2026)
$2.97
Price vs Graham value
125% above
Market cap
$36.1K
Revenue (FY2025)
$24.1M
Revenue growth (10-yr CAGR)
-0.6%
ROIC (10-yr avg)
-15.0%
Free cash flow (FY2025)
-$2.2M

KLNG 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $24.1M -$38.0K $0.00 -$2.2M -1.5% -1.5%
FY2024 $22.7M $2.6M $0.21 $1.4M 11.2% 24.7%
FY2023 $15.3M -$1.6M -$0.13 -$27.0K -10.5% -15.3%
FY2022 $13.0M -$2.9M -$0.24 -$1.3M -23.2% -32.6%
FY2021 $17.2M $2.3M $0.19 -$1.4M -2.0% -4.9%
FY2020 $13.0M -$6.1M -$0.48 -$377.0K -46.5% -60.0%
FY2019 $18.9M -$2.8M -$0.21 $146.0K -14.8% -19.1%
FY2018 $16.2M -$4.7M -$0.35 -$2.4M -32.2% -31.5%
FY2017 $19.5M -$116.0K -$0.01 -$3.7M -4.3% -5.1%
FY2016 $25.4M $164.0K $0.01 $4.3M -3.4% -5.0%

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

Executive summary

Koil Energy Solutions, Inc. is facing top-line stagnation, with revenue contracting over the decade.

Koil Energy Solutions, Inc. has historically struggled to out-earn its cost of capital, averaging just -15.0% ROIC.

Over the decade, Koil Energy Solutions, Inc. shows that management has aggressively returned capital to shareholders by retiring 99.9% of outstanding shares, and that the company has leveraged its balance sheet to sustain operations.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, Koil Energy Solutions, Inc. is modeled at -0.6% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $1.32 per share.

KLNG stock: frequently asked questions

What is the intrinsic value of Koil Energy Solutions, Inc. (KLNG) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a -0.6% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, KLNG's intrinsic value is about $1.32 per share.

Is KLNG stock undervalued?

At $2.97 (close on Oct 17, 2026), KLNG trades 125% above its Graham value of $1.32. On Graham's terms the shares look fully priced. A formula is a starting point for research, not a recommendation.

How fast has Koil Energy Solutions, Inc. grown?

Revenue went from $25.4M in fiscal 2016 to $24.1M in fiscal 2025, a compound annual growth rate of -0.6%. Net income was -$38.0K in fiscal 2025.

Does Koil Energy Solutions, Inc. generate free cash flow?

Koil Energy Solutions, Inc. generated -$2.2M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 3 of the last 10 reported years.

What is KLNG's return on invested capital?

Average ROIC over the last 10 fiscal years was -15.0%, and average return on equity was -9.2%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this KLNG data come from?

From Koil Energy Solutions, Inc.'s annual 10-K filings on SEC EDGAR, most recently filed May 15, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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