Marti Technologies, Inc. (MRT) intrinsic value & 10-year financials

Marti Technologies, Inc. (MRT) has a Graham intrinsic value of $68.29 per share. At $1.83 on Oct 17, 2026, the stock trades 97% below that value. Over the last 6 fiscal years revenue shrank 78.9% a year to $33.6K, with an average return on invested capital of -1009.9%.

Graham intrinsic value
$68.29
Share price (Oct 17, 2026)
$1.83
Price vs Graham value
97% below
Market cap
$142.8M
Revenue (FY2025)
$33.6K
Revenue growth (6-yr CAGR)
-78.9%
ROIC (10-yr avg)
-1009.9%
Free cash flow (FY2025)
-$15.3M

MRT 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $33.6K -$41.4M -$0.53 -$15.3M -84962.5% -431.1%
FY2024 $417.8K -$73.9M -$1.25 -$25.4M -15630.2% -1361.3%
FY2023 $664.5K -$33.8M -$0.67 -$15.5M -4605.5% -489.3%
FY2022 $436.2K -$837.1K -$0.32 -$1.2M -3411.9% -7.5%
FY2021 $17.0M -$14.5M -$0.42 -$4.9M -53.3% -2760.0%
FY2020 — — — — — —

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

Executive summary

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

Marti Technologies, Inc. has historically struggled to out-earn its cost of capital, averaging just -11.6% ROIC.

Marti Technologies, 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, Marti Technologies, Inc. is modeled at -78.9% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $68.29 per share.

MRT stock: frequently asked questions

What is the intrinsic value of Marti Technologies, Inc. (MRT) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a -78.9% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, MRT's intrinsic value is about $68.29 per share.

Is MRT stock undervalued?

At $1.83 (close on Oct 17, 2026), MRT trades 97% below its Graham value of $68.29. On Graham's terms that leaves a margin of safety. A formula is a starting point for research, not a recommendation.

Does Marti Technologies, Inc. generate free cash flow?

Marti Technologies, Inc. generated -$15.3M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 5 reported years.

What is MRT's return on invested capital?

Average ROIC over the last 6 fiscal years was -1009.9%, and average return on equity was -797.5%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this MRT data come from?

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

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