LENSAR, Inc. (LNSR) intrinsic value & 10-year financials

LENSAR, Inc. (LNSR) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 8 fiscal years revenue grew 11.9% a year to $51.7M, with an average return on invested capital of -58.3%.

Graham intrinsic value
—
Share price (Oct 17, 2026)
$5.80
Market cap
$69.4M
Revenue (FY2025)
$51.7M
Revenue growth (8-yr CAGR)
11.9%
ROIC (10-yr avg)
-58.3%
Free cash flow (FY2025)
-$14.9M

LNSR 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $51.7M -$34.3M -$2.87 -$14.9M -47.6% 148.0%
FY2024 $46.0M -$31.4M -$2.73 -$2.4M -23.2% -1197.0%
FY2023 $35.7M -$14.4M -$1.31 -$9.9M -34.2% -65.2%
FY2022 $29.4M -$19.9M -$1.96 -$15.0M -68.5% -71.6%
FY2021 $29.5M -$19.6M -$2.09 -$9.3M -66.6% -70.0%
FY2020 $22.8M -$19.8M — -$14.2M -81.2% 805.5%
FY2019 $26.3M -$14.7M — -$13.0M -48.3% 42.1%
FY2018 — — — — — —

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

Executive summary

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

LENSAR, Inc. has historically struggled to out-earn its cost of capital, averaging just -2.9% ROIC.

LENSAR, 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, LENSAR, Inc. is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-60.66 per share.

LNSR stock: frequently asked questions

What is the intrinsic value of LENSAR, Inc. (LNSR) stock?

Graham's formula only works with positive earnings. LENSAR, Inc. reported diluted EPS of -$2.87 in fiscal 2025, so no Graham value is shown. The 10-year table shows revenue and cash-flow trends instead.

Does LENSAR, Inc. generate free cash flow?

LENSAR, Inc. generated -$14.9M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 7 reported years.

What is LNSR's return on invested capital?

Average ROIC over the last 8 fiscal years was -58.3%, and average return on equity was -0.2%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this LNSR data come from?

From LENSAR, Inc.'s annual 10-K filings on SEC EDGAR, most recently filed May 8, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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