Laird Superfood, Inc. (LSF) intrinsic value & 10-year financials

Laird Superfood, Inc. (LSF) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 8 fiscal years revenue grew 25.0% a year to $49.9M, with an average return on invested capital of -118.4%.

Graham intrinsic value
—
Share price (Oct 17, 2026)
$2.61
Market cap
$24.3M
Revenue (FY2025)
$49.9M
Revenue growth (8-yr CAGR)
25.0%
ROIC (10-yr avg)
-118.4%
Free cash flow (FY2025)
-$2.9M

LSF 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $49.9M -$3.3M — -$2.9M -6.8% -59.9%
FY2024 $43.3M -$1.8M — $840.7K -5.0% -39.2%
FY2023 $34.2M -$10.2M -$1.09 -$10.9M -31.3% -195.1%
FY2022 $35.8M -$40.3M -$4.41 -$15.5M -112.7% -183.5%
FY2021 $36.8M -$23.9M -$2.66 -$23.7M -65.1% -77.4%
FY2020 $26.0M -$12.9M -$2.61 -$15.8M -49.7% -57.0%
FY2019 $13.1M -$8.5M -$0.29 -$11.9M -66.8% -216.9%
FY2018 — — — — — —

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

Executive summary

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

Laird Superfood, Inc. has historically struggled to out-earn its cost of capital, averaging just -34.2% ROIC.

Laird Superfood, 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, Laird Superfood, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-11.59 per share.

LSF stock: frequently asked questions

Does Laird Superfood, Inc. generate free cash flow?

Laird Superfood, Inc. generated -$2.9M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 1 of the last 7 reported years.

What is LSF's return on invested capital?

Average ROIC over the last 8 fiscal years was -118.4%, and average return on equity was -67.4%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this LSF data come from?

From Laird Superfood, 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.

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