Okta, Inc. (OKTA) intrinsic value & 10-year financials
Okta, Inc. (OKTA) has a Graham intrinsic value of $43.51 per share. At $187.26 on Oct 17, 2026, the stock trades 330% above that value. Over the last 10 fiscal years revenue grew 38.0% a year to $2.9B, with an average return on invested capital of -64.1%.
- Graham intrinsic value
- $43.51
- Share price (Oct 17, 2026)
- $187.26
- Price vs Graham value
- 330% above
- Market cap
- $33.6B
- Revenue (FY2026)
- $2.9B
- Revenue growth (10-yr CAGR)
- 38.0%
- ROIC (10-yr avg)
- -64.1%
- Free cash flow (FY2026)
- $875.0M
OKTA 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $2.9B | $235.0M | $1.31 | $875.0M | 5.1% | 2.2% |
| FY2025 | $2.6B | $28.0M | $0.06 | $742.0M | -2.8% | -0.8% |
| FY2024 | $2.3B | -$355.0M | -$2.17 | $504.0M | -22.8% | -9.4% |
| FY2023 | $1.9B | -$815.0M | -$5.16 | $74.0M | -43.7% | -14.5% |
| FY2022 | $1.3B | -$848.4M | -$5.73 | $91.8M | -59.0% | -24.4% |
| FY2021 | $835.4M | -$266.3M | -$2.09 | $114.9M | -24.4% | -85.3% |
| FY2020 | $586.1M | -$208.9M | -$1.78 | $40.2M | -31.7% | -262.1% |
| FY2019 | $399.3M | -$125.5M | — | -$4.6M | -30.0% | -118.4% |
| FY2018 | $256.5M | -$114.4M | — | -$31.8M | -45.4% | — |
| FY2017 | $160.8M | -$83.5M | — | -$48.4M | -51.7% | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Okta, Inc. is a consistent compounder, expanding top-line revenue at 38.0% annually over the past decade.
Okta, Inc. has historically struggled to out-earn its cost of capital, averaging just -31.6% ROIC.
Okta, 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, Okta, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $43.51 per share.