Vivid Seats Inc. (SEAT) intrinsic value & 10-year financials
Vivid Seats Inc. (SEAT) has a Graham intrinsic value of $11.79 per share. At $2.87 on Oct 17, 2026, the stock trades 76% below that value. Over the last 8 fiscal years revenue grew 1.9% a year to $450.5M, with an average return on invested capital of -230.9%.
- Graham intrinsic value
- $11.79
- Share price (Oct 17, 2026)
- $2.87
- Price vs Graham value
- 76% below
- Market cap
- $2.1B
- Revenue (FY2025)
- $450.5M
- Revenue growth (8-yr CAGR)
- 1.9%
- ROIC (10-yr avg)
- -230.9%
- Free cash flow (FY2025)
- -$93.8M
SEAT 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $450.5M | $806.1M | — | -$93.8M | — | -1194.0% |
| FY2024 | $647.9M | $13.4M | $1.12 | $49.7M | — | 83.6% |
| FY2023 | $597.4M | $69.4M | $5.15 | $146.4M | — | -22.3% |
| FY2022 | $511.1M | $70.8M | — | $10.8M | — | -7.2% |
| FY2021 | $389.7M | -$5.0M | — | $218.8M | — | 1.0% |
| FY2020 | $23.3M | -$774.2M | — | -$34.2M | — | -246.7% |
| FY2019 | $403.6M | -$53.8M | — | $75.2M | — | — |
| FY2018 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Vivid Seats Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Vivid Seats Inc. has historically struggled to out-earn its cost of capital, averaging just 6.8% ROIC.
Vivid Seats 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, Vivid Seats Inc. is modeled at 1.9% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $11.79 per share.