Pulmonx Corp (LUNG) intrinsic value & 10-year financials
Pulmonx Corp (LUNG) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 9 fiscal years revenue grew 24.1% a year to $90.5M, with an average return on invested capital of -49.5%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $1.78
- Market cap
- $72.4M
- Revenue (FY2025)
- $90.5M
- Revenue growth (9-yr CAGR)
- 24.1%
- ROIC (10-yr avg)
- -49.5%
- Free cash flow (FY2025)
- -$32.8M
LUNG 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $90.5M | -$54.0M | -$1.33 | -$32.8M | -59.3% | -97.5% |
| FY2024 | $83.8M | -$56.4M | -$1.44 | -$33.0M | -68.9% | -80.3% |
| FY2023 | $68.7M | -$60.8M | -$1.60 | -$38.4M | -90.2% | -84.5% |
| FY2022 | $53.7M | -$58.9M | -$1.59 | -$46.4M | -109.3% | -82.3% |
| FY2021 | $48.4M | -$48.7M | -$1.35 | -$45.1M | -97.7% | -106.8% |
| FY2020 | $32.7M | -$32.2M | -$3.16 | -$31.5M | -98.8% | 36.7% |
| FY2019 | $32.6M | -$20.7M | — | -$21.5M | -54.7% | 9.1% |
| FY2018 | $20.0M | -$18.5M | — | -$18.7M | -75.2% | 9.5% |
| FY2017 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Pulmonx Corp revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Pulmonx Corp has historically struggled to out-earn its cost of capital, averaging just -49.5% ROIC.
Pulmonx Corp 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, Pulmonx Corp is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-44.18 per share.