Kiora Pharmaceuticals Inc. (KPRX) intrinsic value & 10-year financials

Kiora Pharmaceuticals Inc. (KPRX) has a Graham intrinsic value of $28.90 per share. At $2.40 on Oct 17, 2026, the stock trades 92% below that value. Over the last 10 fiscal years revenue grew 48.7% a year to $0, with an average return on invested capital of 337.4%.

Graham intrinsic value
$28.90
Share price (Oct 17, 2026)
$2.40
Price vs Graham value
92% below
Market cap
$9.8M
Revenue (FY2025)
$0
Revenue growth (10-yr CAGR)
48.7%
ROIC (10-yr avg)
337.4%
Free cash flow (FY2025)
-$10.1M

KPRX 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $0 -$10.8M -$2.64 -$10.1M — -77.4%
FY2024 $16.0M $3.6M $0.87 $8.6M 28.2% 22.3%
FY2023 $0 -$12.5M -$2.69 — — -274.9%
FY2022 — -$13.6M -$18.55 — — -353.7%
FY2021 $0 -$16.4M -$1.77 -$11.0M — -426.5%
FY2020 $12.1K -$8.1M -$0.89 -$7.3M -68104.8% -178.8%
FY2019 $2.7M -$7.1M — — — -249.4%
FY2018 $1.7M -$10.8M — -$10.9M -656.3% -309.4%
FY2017 $407.5K -$13.2M — -$6.5M — 1171.6%
FY2016 $669.3K -$13.3M — — — 4050.6%

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

Executive summary

KIORA PHARMACEUTICALS INC revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.

KIORA PHARMACEUTICALS INC has historically struggled to out-earn its cost of capital, averaging just -10.0% ROIC.

KIORA 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, KIORA PHARMACEUTICALS INC is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $28.90 per share.

KPRX stock: frequently asked questions

What is the intrinsic value of Kiora Pharmaceuticals Inc. (KPRX) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a 15.0% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, KPRX's intrinsic value is about $28.90 per share.

Is KPRX stock undervalued?

At $2.40 (close on Oct 17, 2026), KPRX trades 92% below its Graham value of $28.90. On Graham's terms that leaves a margin of safety. A formula is a starting point for research, not a recommendation.

How fast has Kiora Pharmaceuticals Inc. grown?

Revenue went from $669.3K in fiscal 2016 to $0 in fiscal 2025, a compound annual growth rate of 48.7%. Net income was -$10.8M in fiscal 2025.

Does Kiora Pharmaceuticals Inc. generate free cash flow?

Kiora Pharmaceuticals Inc. generated -$10.1M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 1 of the last 6 reported years.

What is KPRX's return on invested capital?

Average ROIC over the last 10 fiscal years was 337.4%, and average return on equity was 419.8%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this KPRX data come from?

From Kiora Pharmaceuticals Inc.'s annual 10-K filings on SEC EDGAR, most recently filed Aug 7, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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