Outlook Therapeutics, Inc. (OTLK) intrinsic value & 10-year financials
Outlook Therapeutics, Inc. (OTLK) has a Graham intrinsic value of $11.43 per share. At $0.49 on Oct 17, 2026, the stock trades 96% below that value. Over the last 10 fiscal years revenue shrank 8.0% a year to $1.4M, with an average return on invested capital of 373.2%.
- Graham intrinsic value
- $11.43
- Share price (Oct 17, 2026)
- $0.49
- Price vs Graham value
- 96% below
- Market cap
- $17.0M
- Revenue (FY2025)
- $1.4M
- Revenue growth (10-yr CAGR)
- -8.0%
- ROIC (10-yr avg)
- 373.2%
- Free cash flow (FY2025)
- —
OTLK 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.4M | -$62.4M | -$1.79 | — | -4744.3% | 102.4% |
| FY2024 | — | -$75.4M | -$4.06 | — | — | 81.7% |
| FY2023 | — | -$59.0M | -$0.24 | — | — | 613.8% |
| FY2022 | — | -$66.1M | -$0.31 | — | — | 682.5% |
| FY2021 | — | -$53.2M | -$0.35 | — | — | 530.7% |
| FY2020 | — | -$35.2M | -$0.67 | — | — | 229.6% |
| FY2019 | $8.1M | -$34.5M | — | -$32.7M | -445.6% | 141.2% |
| FY2018 | $3.1M | -$30.1M | -$1.22 | -$35.8M | -960.1% | 83.0% |
| FY2017 | $3.8M | -$38.8M | -$1.80 | -$15.8M | -941.4% | 173.5% |
| FY2016 | $3.0M | -$53.3M | -$3.67 | -$46.6M | -1737.1% | 1093.8% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Outlook Therapeutics, Inc. is facing top-line stagnation, with revenue contracting over the decade.
Outlook Therapeutics, Inc. has earned high returns on invested capital, averaging 44.1% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Outlook Therapeutics, Inc. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Outlook Therapeutics, Inc. is modeled at -8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $11.43 per share.