OmniAb, Inc. (OABI) intrinsic value & 10-year financials

OmniAb, Inc. (OABI) has a Graham intrinsic value of $9.97 per share. At $4.59 on Oct 17, 2026, the stock trades 54% below that value. Over the last 6 fiscal years revenue shrank 14.4% a year to $18.7M, with an average return on invested capital of -116.8%.

Graham intrinsic value
$9.97
Share price (Oct 17, 2026)
$4.59
Price vs Graham value
54% below
Market cap
$521.6M
Revenue (FY2025)
$18.7M
Revenue growth (6-yr CAGR)
-14.4%
ROIC (10-yr avg)
-116.8%
Free cash flow (FY2025)
-$37.0M

OABI 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $18.7M -$64.8M -$0.57 -$37.0M -369.5% -25.1%
FY2024 $26.4M -$62.0M -$0.61 -$41.5M -282.3% -21.6%
FY2023 $34.2M -$50.6M -$0.51 $703.0K -203.2% -16.7%
FY2022 $59.1M -$22.3M -$0.26 -$20.8M -45.1% -13.5%
FY2021 $34.7M -$27.0M -$0.33 -$9.7M -102.5% -507.1%
FY2020 — — — — — —

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

Executive summary

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

OmniAb, Inc. has historically struggled to out-earn its cost of capital, averaging just -16.4% ROIC.

OmniAb, 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, OmniAb, Inc. is modeled at -14.4% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $9.97 per share.

OABI stock: frequently asked questions

What is the intrinsic value of OmniAb, Inc. (OABI) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a -14.4% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, OABI's intrinsic value is about $9.97 per share.

Is OABI stock undervalued?

At $4.59 (close on Oct 17, 2026), OABI trades 54% below its Graham value of $9.97. On Graham's terms that leaves a margin of safety. A formula is a starting point for research, not a recommendation.

Does OmniAb, Inc. generate free cash flow?

OmniAb, Inc. generated -$37.0M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 1 of the last 5 reported years.

What is OABI's return on invested capital?

Average ROIC over the last 6 fiscal years was -116.8%, and average return on equity was -19.3%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this OABI data come from?

From OmniAb, Inc.'s annual 10-K filings on SEC EDGAR, most recently filed May 7, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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