Perion Network Ltd. (PERI) intrinsic value & 10-year financials
Perion Network Ltd. (PERI) has a Graham intrinsic value of $3.50 per share. Over the last 10 fiscal years revenue grew 3.9% a year to $439.9M, with an average return on invested capital of 4.7%.
- Graham intrinsic value
- $3.50
- Revenue (FY2025)
- $439.9M
- Revenue growth (10-yr CAGR)
- 3.9%
- ROIC (10-yr avg)
- 4.7%
- Free cash flow (FY2025)
- $38.1M
PERI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $439.9M | -$7.9M | -$0.19 | $38.1M | -3.4% | -2.5% |
| FY2024 | $498.3M | $12.6M | $0.25 | $67.0K | -0.6% | -0.4% |
| FY2023 | $743.2M | $117.4M | $2.34 | $154.7M | 15.7% | 21.0% |
| FY2022 | $640.3M | $99.2M | $2.06 | $121.1M | 17.0% | 24.2% |
| FY2021 | $478.5M | $38.7M | $1.02 | $70.5M | 9.6% | 14.9% |
| FY2020 | $328.1M | $10.2M | $0.36 | $21.7M | 3.7% | 7.9% |
| FY2019 | $261.4M | $12.9M | $0.49 | $43.5M | 6.9% | 10.3% |
| FY2018 | $252.8M | $8.1M | $0.31 | $30.8M | 5.8% | 7.6% |
| FY2017 | $274.0M | -$72.8M | -$0.94 | $34.4M | -27.6% | -38.9% |
| FY2016 | $312.8M | $201.0K | $0.00 | $29.0M | 3.6% | 2.7% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Perion Network Ltd. has demonstrated mature, steady growth, with revenue compounding at 3.9% annually over the past decade.
Perion Network Ltd. returns on capital have been average, hovering around 10.8% ROIC over the decade.
Over the decade, Perion Network Ltd. shows that management has aggressively returned capital to shareholders by retiring 45.1% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Perion Network Ltd. is modeled at 3.9% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $3.50 per share.