Phunware, Inc. (PHUN) intrinsic value & 10-year financials
Phunware, Inc. (PHUN) has a Graham intrinsic value of $20.84 per share. At $2.04 on Oct 17, 2026, the stock trades 90% below that value. Over the last 10 fiscal years revenue shrank 25.4% a year to $2.6M, with an average return on invested capital of -94.6%.
- Graham intrinsic value
- $20.84
- Share price (Oct 17, 2026)
- $2.04
- Price vs Graham value
- 90% below
- Market cap
- $41.2M
- Revenue (FY2025)
- $2.6M
- Revenue growth (10-yr CAGR)
- -25.4%
- ROIC (10-yr avg)
- -94.6%
- Free cash flow (FY2025)
- —
PHUN 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $2.6M | -$11.4M | -$0.57 | — | -803.7% | 447.0% |
| FY2024 | $3.2M | -$10.3M | -$0.94 | — | -435.5% | 190.3% |
| FY2023 | $4.8M | -$52.8M | — | — | -945.6% | -364.1% |
| FY2022 | $21.8M | -$50.9M | -$0.51 | -$27.8M | -135.4% | -71.3% |
| FY2021 | $10.6M | -$53.5M | -$0.71 | — | -158.3% | -66.2% |
| FY2020 | $10.0M | -$22.2M | -$0.50 | — | -175.0% | -504.4% |
| FY2019 | $19.1M | -$12.9M | — | — | -64.3% | -255.4% |
| FY2018 | $30.9M | -$9.8M | — | — | -22.2% | -132.7% |
| FY2017 | $26.7M | -$25.9M | — | — | -95.9% | — |
| FY2016 | — | -$90.2K | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Phunware, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Phunware, Inc. has historically struggled to out-earn its cost of capital, averaging just -34.4% ROIC.
Phunware, 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, Phunware, Inc. is modeled at -25.4% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $20.84 per share.