Momentus Inc. (MNTS) intrinsic value & 10-year financials

Momentus Inc. (MNTS) has a Graham intrinsic value of $56.47 per share. At $2.61 on Oct 17, 2026, the stock trades 95% below that value. Over the last 7 fiscal years revenue grew 24.9% a year to $1.1M, with an average return on invested capital of 412.3%.

Graham intrinsic value
$56.47
Share price (Oct 17, 2026)
$2.61
Price vs Graham value
95% below
Market cap
$1.6M
Revenue (FY2025)
$1.1M
Revenue growth (7-yr CAGR)
24.9%
ROIC (10-yr avg)
412.3%
Free cash flow (FY2025)
-$23.3M

MNTS 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $1.1M -$30.5M -$49.10 -$23.3M -2455.4% -2399.2%
FY2024 $2.1M -$34.9M -$23.19 -$16.6M -1404.1% 1904.6%
FY2023 $3.1M -$68.9M -$23.13 -$61.9M -2206.9% 1308.0%
FY2022 $299.0K -$95.4M -$1.17 -$88.5M -30526.8% 490.5%
FY2021 $330.0K $120.7M $1.70 -$89.7M -30230.6% 1246.5%
FY2020 $365.0K -$2.8M -$0.05 -$3.3M -1019.4% -76.6%
FY2019 — — — — — —

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

Executive summary

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

Momentus Inc. has historically struggled to out-earn its cost of capital, averaging just -8.5% ROIC.

Momentus 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, Momentus Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $56.47 per share.

MNTS stock: frequently asked questions

What is the intrinsic value of Momentus Inc. (MNTS) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a 15.0% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, MNTS's intrinsic value is about $56.47 per share.

Is MNTS stock undervalued?

At $2.61 (close on Oct 17, 2026), MNTS trades 95% below its Graham value of $56.47. On Graham's terms that leaves a margin of safety. A formula is a starting point for research, not a recommendation.

Does Momentus Inc. generate free cash flow?

Momentus Inc. generated -$23.3M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 6 reported years.

What is MNTS's return on invested capital?

Average ROIC over the last 7 fiscal years was 412.3%, and average return on equity was 89.7%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this MNTS data come from?

From Momentus Inc.'s annual 10-K filings on SEC EDGAR, most recently filed May 13, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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