Nuwellis, Inc. (NUWE) intrinsic value & 10-year financials

Nuwellis, Inc. (NUWE) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 22.9% a year to $8.3M, with an average return on invested capital of -892.2%.

Graham intrinsic value
—
Share price (Oct 17, 2026)
$0.55
Market cap
$378.8K
Revenue (FY2025)
$8.3M
Revenue growth (10-yr CAGR)
22.9%
ROIC (10-yr avg)
-892.2%
Free cash flow (FY2025)
-$10.9M

NUWE 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $8.3M -$17.5M -$25.39 -$10.9M -134.3% -663.8%
FY2024 $8.7M -$11.2M -$8.41 -$9.7M -125.7% -1490.9%
FY2023 $8.9M -$20.2M -$11.52 -$18.1M -198.9% 721.7%
FY2022 $8.5M -$14.5M -$7.60 -$15.3M -201.0% 1813.2%
FY2021 $7.9M -$19.6M -$0.26 -$18.1M -246.5% -828.1%
FY2020 $7.4M -$15.8M -$0.24 -$16.9M -228.8% -1149.8%
FY2019 $5.5M -$18.1M — -$16.9M -328.5% -2535.9%
FY2018 $5.0M -$17.0M — -$14.8M -340.9% -3736.0%
FY2017 $3.6M -$13.4M — -$12.2M -416.9% -164.6%
FY2016 $1.3M -$15.8M — -$16.4M -1215.1% -888.4%

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

Executive summary

Nuwellis, Inc. is a consistent compounder, expanding top-line revenue at 22.9% annually over the past decade.

Nuwellis, Inc. has historically struggled to out-earn its cost of capital, averaging just -8.9% ROIC.

Nuwellis, 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, Nuwellis, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-843.35 per share.

NUWE stock: frequently asked questions

What is the intrinsic value of Nuwellis, Inc. (NUWE) stock?

Graham's formula only works with positive earnings. Nuwellis, Inc. reported diluted EPS of -$25.39 in fiscal 2025, so no Graham value is shown. The 10-year table shows revenue and cash-flow trends instead.

How fast has Nuwellis, Inc. grown?

Revenue went from $1.3M in fiscal 2016 to $8.3M in fiscal 2025, a compound annual growth rate of 22.9%. Net income was -$17.5M in fiscal 2025.

Does Nuwellis, Inc. generate free cash flow?

Nuwellis, Inc. generated -$10.9M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 10 reported years.

What is NUWE's return on invested capital?

Average ROIC over the last 10 fiscal years was -892.2%, and average return on equity was -288.1%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this NUWE data come from?

From Nuwellis, Inc.'s annual 10-K filings on SEC EDGAR, most recently filed May 15, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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