Niagen Bioscience, Inc. (NAGE) intrinsic value & 10-year financials
Niagen Bioscience, Inc. (NAGE) has a Graham intrinsic value of $6.64 per share. At $2.49 on Oct 17, 2026, the stock trades 62% below that value. Over the last 10 fiscal years revenue grew 19.1% a year to $129.4M, with an average return on invested capital of -379.8%.
- Graham intrinsic value
- $6.64
- Share price (Oct 17, 2026)
- $2.49
- Price vs Graham value
- 62% below
- Market cap
- $212.7M
- Revenue (FY2025)
- $129.4M
- Revenue growth (10-yr CAGR)
- 19.1%
- ROIC (10-yr avg)
- -379.8%
- Free cash flow (FY2025)
- —
NAGE 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $129.4M | $17.4M | $0.20 | — | 12.6% | 114.4% |
| FY2024 | $99.6M | $8.6M | $0.11 | — | 7.8% | 210.7% |
| FY2023 | $83.6M | -$4.9M | -$0.07 | — | -6.7% | -71.0% |
| FY2022 | $72.0M | -$16.5M | -$0.24 | — | -25.9% | -168.8% |
| FY2021 | $67.4M | -$27.1M | -$0.40 | — | -40.1% | -645.4% |
| FY2020 | $59.3M | -$19.9M | -$0.33 | — | -33.5% | -1228.8% |
| FY2019 | $46.3M | -$32.1M | — | -$21.2M | -67.6% | -893.2% |
| FY2018 | $31.6M | -$33.3M | — | -$22.2M | -105.1% | -709.0% |
| FY2017 | $21.2M | -$11.4M | — | -$11.0M | -77.2% | — |
| FY2016 | $26.8M | -$2.9M | — | -$4.4M | -8.4% | -26.9% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Niagen Bioscience, Inc. is a consistent compounder, expanding top-line revenue at 19.1% annually over the past decade.
Niagen Bioscience, Inc. has historically struggled to out-earn its cost of capital, averaging just -2.0% ROIC.
Niagen Bioscience, Inc. 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, Niagen Bioscience, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $6.64 per share.