Revolution Medicines, Inc. (RVMD) intrinsic value & 10-year financials

Revolution Medicines, Inc. (RVMD) has a Graham intrinsic value of $64.17 per share. At $177.96 on Oct 17, 2026, the stock trades 177% above that value. Over the last 9 fiscal years revenue shrank 10.5% a year to $0, with an average return on invested capital of -47.4%.

Graham intrinsic value
$64.17
Share price (Oct 17, 2026)
$177.96
Price vs Graham value
177% above
Market cap
$33.8B
Revenue (FY2025)
$0
Revenue growth (9-yr CAGR)
-10.5%
ROIC (10-yr avg)
-47.4%
Free cash flow (FY2025)
-$913.7M

RVMD 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $0 -$1.1B -$5.95 -$913.7M — -73.1%
FY2024 $0 -$600.1M -$3.58 -$567.7M — -45.1%
FY2023 $11.6M -$436.4M -$3.86 -$358.3M -4207.1% -53.9%
FY2022 $35.4M -$248.7M -$3.08 -$235.2M -730.0% -45.4%
FY2021 $29.4M -$187.1M -$2.57 -$153.7M -639.7% -39.4%
FY2020 $43.0M -$108.2M -$2.01 -$103.0M -257.5% -27.6%
FY2019 $50.0M -$47.7M — -$52.2M -108.2% —
FY2018 $20.2M -$41.8M — -$286.0K -200.0% —
FY2017 — — — — — —

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

Revolution Medicines, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.

Revolution Medicines, Inc. has historically struggled to out-earn its cost of capital, averaging just -47.4% ROIC.

Revolution Medicines, 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, Revolution Medicines, Inc. is modeled at -10.5% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $64.17 per share.

RVMD stock: frequently asked questions

What is the intrinsic value of Revolution Medicines, Inc. (RVMD) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a -10.5% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, RVMD's intrinsic value is about $64.17 per share.

Is RVMD stock undervalued?

At $177.96 (close on Oct 17, 2026), RVMD trades 177% above its Graham value of $64.17. On Graham's terms the shares look fully priced. A formula is a starting point for research, not a recommendation.

Does Revolution Medicines, Inc. generate free cash flow?

Revolution Medicines, Inc. generated -$913.7M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 8 reported years.

What is RVMD's return on invested capital?

Average ROIC over the last 9 fiscal years was -47.4%, and average return on equity was -22.3%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this RVMD data come from?

From Revolution Medicines, Inc.'s annual 10-K filings on SEC EDGAR, most recently filed Aug 5, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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