Neurogene Inc. (NGNE) intrinsic value & 10-year financials
Neurogene Inc. (NGNE) has a Graham intrinsic value of $278.16 per share. At $23.25 on Oct 17, 2026, the stock trades 92% below that value. Over the last 10 fiscal years revenue shrank 42.3% a year to $0, with an average return on invested capital of 181.7%.
- Graham intrinsic value
- $278.16
- Share price (Oct 17, 2026)
- $23.25
- Price vs Graham value
- 92% below
- Market cap
- $495.8M
- Revenue (FY2025)
- $0
- Revenue growth (10-yr CAGR)
- -42.3%
- ROIC (10-yr avg)
- 181.7%
- Free cash flow (FY2025)
- -$78.4M
NGNE 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $0 | -$90.4M | -$4.24 | -$78.4M | — | -58.9% |
| FY2024 | $925.0K | -$75.1M | -$4.28 | -$71.4M | -8930.3% | -70.8% |
| FY2023 | $0 | -$36.3M | — | -$51.7M | — | -62.0% |
| FY2022 | — | -$57.6M | -$1.04 | -$46.7M | — | -145.4% |
| FY2021 | — | -$60.7M | -$1.10 | -$50.8M | — | -545.9% |
| FY2020 | — | -$33.3M | -$0.64 | -$26.8M | — | -718.6% |
| FY2019 | — | -$69.4M | — | -$16.3M | — | 2743.1% |
| FY2018 | $25.0M | -$31.6M | — | -$31.6M | -130.5% | 743.2% |
| FY2017 | — | -$50.2M | — | -$45.2M | — | -41.2% |
| FY2016 | — | -$37.0M | — | -$30.9M | — | -26.0% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Neurogene Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Neurogene Inc. has historically struggled to out-earn its cost of capital, averaging just -38.2% ROIC.
Neurogene 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, Neurogene Inc. is modeled at -42.3% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $278.16 per share.