Neonode Inc. (NEON) intrinsic value & 10-year financials
Neonode Inc. (NEON) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 16.3% a year to $2.1M, with an average return on invested capital of -666.9%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $0.77
- Market cap
- $12.2K
- Revenue (FY2025)
- $2.1M
- Revenue growth (10-yr CAGR)
- -16.3%
- ROIC (10-yr avg)
- -666.9%
- Free cash flow (FY2025)
- -$10.3M
NEON 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $2.1M | $8.5M | — | -$10.3M | 357.5% | -4606.9% |
| FY2024 | $3.1M | -$6.5M | -$0.41 | -$5.6M | -210.6% | -974.3% |
| FY2023 | $4.4M | -$10.1M | -$0.66 | -$6.4M | -241.5% | -377.4% |
| FY2022 | $5.7M | -$4.9M | -$0.36 | -$6.9M | -93.2% | -93.1% |
| FY2021 | $5.8M | -$7.3M | -$0.54 | — | -121.8% | -124.6% |
| FY2020 | $6.0M | -$5.6M | — | -$5.8M | -103.5% | -133.4% |
| FY2019 | $6.0M | -$5.3M | — | -$3.6M | -96.0% | -104.6% |
| FY2018 | $8.0M | -$3.1M | — | -$3.1M | -48.7% | -60.4% |
| FY2017 | $8.7M | -$4.7M | — | -$6.2M | -63.1% | -80.0% |
| FY2016 | $10.2M | -$5.3M | — | -$7.2M | -50.4% | -114.2% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Neonode Inc. is facing top-line stagnation, with revenue contracting over the decade.
Neonode Inc. has historically struggled to out-earn its cost of capital, averaging just -72.0% ROIC.
Neonode 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, Neonode Inc. is modeled at -16.3% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-11115.81 per share.