Pharming Group N.V. (PHAR) intrinsic value & 10-year financials
Pharming Group N.V. (PHAR) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 9 fiscal years revenue grew 12.1% a year to $376.1M, with an average return on invested capital of 16.3%.
- Graham intrinsic value
- —
- Revenue (FY2025)
- $376.1M
- Revenue growth (9-yr CAGR)
- 12.1%
- ROIC (10-yr avg)
- 16.3%
- Free cash flow (FY2025)
- $54.0M
PHAR 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $376.1M | $2.5M | $0.00 | $54.0M | 6.9% | 5.2% |
| FY2024 | $297.2M | -$11.8M | -$0.02 | -$2.6M | -2.9% | -3.9% |
| FY2023 | $245.3M | -$10.5M | -$0.02 | -$18.7M | -2.2% | -2.2% |
| FY2022 | $205.6M | $13.7M | $0.02 | $21.1M | 8.9% | 8.4% |
| FY2021 | $198.9M | $16.0M | $0.02 | $27.1M | 6.8% | 5.0% |
| FY2020 | $212.2M | $37.7M | $0.06 | $79.0M | 35.9% | 43.4% |
| FY2019 | $189.4M | $40.6M | $0.06 | $71.5M | 36.0% | 58.3% |
| FY2018 | — | — | — | — | — | — |
| FY2017 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Pharming Group N.V. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Pharming Group N.V. 10-year average ROIC is N/A; capital efficiency cannot be assessed from the available history.
Pharming Group N.V. 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, Pharming Group N.V. is modeled at -36.3% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-0.22 per share.