Kornit Digital Ltd. (KRNT) intrinsic value & 10-year financials
Kornit Digital Ltd. (KRNT) has a Graham intrinsic value of $6.98 per share. Over the last 10 fiscal years revenue grew 8.4% a year to $208.2M, with an average return on invested capital of -2.3%.
- Graham intrinsic value
- $6.98
- Revenue (FY2025)
- $208.2M
- Revenue growth (10-yr CAGR)
- 8.4%
- ROIC (10-yr avg)
- -2.3%
- Free cash flow (FY2025)
- $3.4M
KRNT 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $208.2M | -$13.5M | -$0.30 | $3.4M | -16.6% | -4.9% |
| FY2024 | $203.8M | -$16.8M | -$0.35 | $33.6M | -18.3% | -5.0% |
| FY2023 | $219.8M | -$64.4M | -$1.31 | -$41.7M | -39.8% | -9.5% |
| FY2022 | $49.0M | -$79.1M | -$1.59 | -$102.3M | -142.6% | -10.0% |
| FY2021 | $39.4M | $15.5M | $0.32 | $44.7M | 32.5% | 3.4% |
| FY2020 | $28.4M | -$4.8M | -$0.11 | $18.9M | -23.7% | -1.8% |
| FY2019 | $23.3M | $10.2M | $0.26 | $5.6M | 32.6% | 2.2% |
| FY2018 | $125.7M | $12.4M | $0.35 | $26.1M | 4.5% | 3.4% |
| FY2017 | $102.0M | -$2.0M | -$0.06 | $330.0K | -2.0% | -1.6% |
| FY2016 | $100.8M | $828.0K | $0.03 | -$4.5M | 1.4% | 0.7% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Kornit Digital Ltd. is a consistent compounder, expanding top-line revenue at 8.4% annually over the past decade.
Kornit Digital Ltd. has historically struggled to out-earn its cost of capital, averaging just -3.7% ROIC.
Kornit Digital Ltd. 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, Kornit Digital Ltd. is modeled at 8.4% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $6.98 per share.