Mesa Laboratories Inc. /CO/ (MLAB) intrinsic value & 10-year financials
Mesa Laboratories Inc. /CO/ (MLAB) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 11.5% a year to $249.1M, with an average return on invested capital of -6.9%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $122.48
- Market cap
- $681.6M
- Revenue (FY2026)
- $249.1M
- Revenue growth (10-yr CAGR)
- 11.5%
- ROIC (10-yr avg)
- -6.9%
- Free cash flow (FY2026)
- $39.6M
MLAB 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $249.1M | $6.7M | $1.21 | $39.6M | 7.4% | 4.5% |
| FY2025 | $241.0M | -$2.0M | -$0.36 | $42.6M | 6.8% | 4.8% |
| FY2024 | $216.2M | -$254.2M | -$47.20 | $41.6M | -125.9% | -102.4% |
| FY2023 | $219.1M | $930.0K | $0.17 | $23.4M | 1.5% | 0.5% |
| FY2022 | $184.3M | $1.9M | $0.35 | $34.8M | 2.6% | 0.6% |
| FY2021 | $133.9M | $3.3M | $0.64 | $35.1M | 9.2% | 3.9% |
| FY2020 | $117.7M | $1.3M | $0.31 | $25.1M | 6.4% | 3.0% |
| FY2019 | $103.1M | $7.5M | $1.86 | $29.3M | 9.5% | 6.4% |
| FY2018 | $96.2M | -$3.0M | -$0.79 | $22.0M | 2.3% | 0.8% |
| FY2017 | $93.7M | $11.2M | $2.91 | — | 17.4% | 8.7% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
MESA LABORATORIES INC /CO/ is a consistent compounder, expanding top-line revenue at 11.5% annually over the past decade.
MESA LABORATORIES INC /CO/ has historically struggled to out-earn its cost of capital, averaging just -6.9% ROIC.
MESA LABORATORIES INC /CO/ 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, MESA LABORATORIES INC /CO/ is modeled at -9.3% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-10.52 per share.