Emerson Radio Corp. (MSN) intrinsic value & 10-year financials
Emerson Radio Corp. (MSN) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 14.8% a year to $10.8M, with an average return on invested capital of -45.3%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $0.33
- Market cap
- $6.9M
- Revenue (FY2025)
- $10.8M
- Revenue growth (10-yr CAGR)
- -14.8%
- ROIC (10-yr avg)
- -45.3%
- Free cash flow (FY2025)
- -$3.8M
MSN 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $10.8M | -$4.7M | -$0.22 | -$3.8M | -52.1% | -41.3% |
| FY2024 | $9.1M | $766.0K | $0.04 | -$5.4M | -37.5% | -89.6% |
| FY2023 | $7.2M | -$1.4M | -$0.06 | -$308.0K | -29.2% | -246.7% |
| FY2022 | $8.2M | -$3.6M | -$0.17 | -$4.7M | -41.9% | -25.7% |
| FY2021 | $7.4M | -$4.0M | -$0.19 | — | -56.3% | -15.6% |
| FY2020 | $6.3M | -$4.3M | -$0.20 | — | -73.5% | -16.3% |
| FY2019 | $9.0M | -$2.4M | -$0.11 | — | -40.6% | -7.7% |
| FY2018 | $15.0M | -$6.9M | -$0.27 | -$5.2M | -25.8% | -7.7% |
| FY2017 | $21.3M | -$237.0K | -$0.01 | $1.9M | -1.5% | -0.6% |
| FY2016 | $45.8M | -$968.0K | -$0.04 | — | -3.1% | -1.9% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
EMERSON RADIO CORP is facing top-line stagnation, with revenue contracting over the decade.
EMERSON RADIO CORP has historically struggled to out-earn its cost of capital, averaging just -20.9% ROIC.
Over the decade, EMERSON RADIO CORP shows that management has aggressively returned capital to shareholders by retiring 22.4% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, EMERSON RADIO CORP is modeled at -14.8% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-0.73 per share.