Nextnav Inc. (NN) intrinsic value & 10-year financials

Nextnav Inc. (NN) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 7 fiscal years revenue grew 51.7% a year to $4.6M, with an average return on invested capital of -56.1%.

Graham intrinsic value
—
Share price (Oct 17, 2026)
$9.59
Market cap
$1.3M
Revenue (FY2025)
$4.6M
Revenue growth (7-yr CAGR)
51.7%
ROIC (10-yr avg)
-56.1%
Free cash flow (FY2025)
-$50.8M

NN 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $4.6M -$189.3M -$1.42 -$50.8M -1535.8% -59.8%
FY2024 $5.7M -$101.9M -$0.84 -$38.4M -1060.1% -85.7%
FY2023 $3.9M -$71.7M -$0.66 -$38.2M -1645.0% -107.2%
FY2022 $3.9M -$40.1M -$0.00 -$40.1M -1669.3% -112.8%
FY2021 $763.0K -$144.7M -$0.01 -$49.0M -5560.8% 21.7%
FY2020 $569.0K -$137.3M — -$34.8M -5179.1% 7.2%
FY2019 — — — — — —

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

Executive summary

NEXTNAV INC. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.

NEXTNAV INC. has historically struggled to out-earn its cost of capital, averaging just -56.1% ROIC.

NEXTNAV 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, NEXTNAV INC. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-47.17 per share.

NN stock: frequently asked questions

What is the intrinsic value of Nextnav Inc. (NN) stock?

Graham's formula only works with positive earnings. Nextnav Inc. reported diluted EPS of -$1.42 in fiscal 2025, so no Graham value is shown. The 10-year table shows revenue and cash-flow trends instead.

Does Nextnav Inc. generate free cash flow?

Nextnav Inc. generated -$50.8M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 6 reported years.

What is NN's return on invested capital?

Average ROIC over the last 7 fiscal years was -56.1%, and average return on equity was 146.2%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this NN data come from?

From Nextnav Inc.'s annual 10-K filings on SEC EDGAR, most recently filed May 14, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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