Moleculin Biotech, Inc. (MBRX) intrinsic value & 10-year financials

Moleculin Biotech, Inc. (MBRX) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue reached to $0, with an average return on invested capital of -391.6%.

Graham intrinsic value
—
Share price (Oct 17, 2026)
$0.28
Revenue (FY2025)
$0
ROIC (10-yr avg)
-391.6%
Free cash flow (FY2025)
-$22.7M

MBRX 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $0 -$33.6M — -$22.7M — -597.1%
FY2024 $0 -$21.8M — -$23.9M — -1053.8%
FY2023 $0 -$29.8M — -$24.2M — -478.8%
FY2022 $0 -$29.0M — -$27.7M — -349.5%
FY2021 $0 -$15.9M — -$19.0M — -421.5%
FY2020 $0 -$17.4M — -$18.1M — -502.5%
FY2019 $0 -$13.2M — -$17.2M — -337.0%
FY2018 $0 -$11.9M — -$12.6M — -95.7%
FY2017 $0 -$9.8M — -$7.4M — -53.9%
FY2016 $0 -$3.9M — -$3.8M — -26.0%

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

Executive summary

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

Moleculin Biotech, Inc. has historically struggled to out-earn its cost of capital, averaging just -21.3% ROIC.

Moleculin Biotech, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.

Benjamin Graham lens

Moleculin Biotech, Inc. is evaluated under Benjamin Graham's defensive framework using SEC EDGAR fundamentals using an 8.5 + 2g earnings multiple and a 5.1% AAA bond-yield baseline.

MBRX stock: frequently asked questions

How fast has Moleculin Biotech, Inc. grown?

Revenue went from $0 in fiscal 2016 to $0 in fiscal 2025. Net income was -$33.6M in fiscal 2025.

Does Moleculin Biotech, Inc. generate free cash flow?

Moleculin Biotech, Inc. generated -$22.7M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 10 reported years.

What is MBRX's return on invested capital?

Average ROIC over the last 10 fiscal years was -391.6%, and average return on equity was -96.5%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this MBRX data come from?

From Moleculin Biotech, 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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