QUINSTREET, Inc. (QNST) intrinsic value & 10-year financials
QUINSTREET, Inc. (QNST) has a Graham intrinsic value of $9.84 per share. At $16.32 on Oct 17, 2026, the stock trades 66% above that value. Over the last 10 fiscal years revenue grew 9.0% a year to $613.5M, with an average return on invested capital of -5.7%.
- Graham intrinsic value
- $9.84
- Share price (Oct 17, 2026)
- $16.32
- Price vs Graham value
- 66% above
- Market cap
- $896.2M
- Revenue (FY2024)
- $613.5M
- Revenue growth (10-yr CAGR)
- 9.0%
- ROIC (10-yr avg)
- -5.7%
- Free cash flow (FY2024)
- $6.7M
QNST 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2024 | $613.5M | -$31.3M | -$0.57 | $6.7M | -4.6% | -16.9% |
| FY2023 | $580.6M | -$68.9M | -$1.28 | $8.8M | -3.6% | -11.9% |
| FY2022 | $582.1M | -$5.2M | -$0.10 | $25.8M | -0.8% | -2.2% |
| FY2021 | $578.5M | $23.6M | $0.43 | $48.6M | 2.4% | 6.4% |
| FY2020 | $490.3M | $18.1M | $0.34 | $45.6M | 1.3% | 3.8% |
| FY2019 | $455.2M | $62.5M | $1.18 | $36.0M | 2.4% | 6.7% |
| FY2018 | $404.4M | $15.9M | $0.32 | $26.4M | 3.9% | 11.3% |
| FY2017 | $299.8M | -$12.2M | -$0.27 | $17.4M | -3.6% | -11.4% |
| FY2016 | $297.7M | -$19.4M | -$0.43 | -$844.0K | -6.3% | -21.4% |
| FY2015 | $282.1M | -$20.0M | -$0.45 | $2.8M | -6.8% | -21.0% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
QUINSTREET, INC is a consistent compounder, expanding top-line revenue at 9.0% annually over the past decade.
QUINSTREET, INC has historically struggled to out-earn its cost of capital, averaging just -5.7% ROIC.
QUINSTREET, 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, QUINSTREET, INC is modeled at 9.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $9.84 per share.