Serve Robotics Inc. /DE/ (SERV) intrinsic value & 10-year financials
Serve Robotics Inc. /DE/ (SERV) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 6 fiscal years revenue grew 190.8% a year to $2.7M, with an average return on invested capital of 1215.5%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $3.23
- Market cap
- $201.2M
- Revenue (FY2025)
- $2.7M
- Revenue growth (6-yr CAGR)
- 190.8%
- ROIC (10-yr avg)
- 1215.5%
- Free cash flow (FY2025)
- -$117.6M
SERV 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $2.7M | -$101.4M | -$1.63 | -$117.6M | -4253.8% | -84.5% |
| FY2024 | $1.8M | -$39.2M | -$1.07 | -$31.8M | -2112.5% | -1105.1% |
| FY2023 | $207.5K | -$24.8M | -$1.75 | -$16.0M | -9987.0% | 6362.2% |
| FY2022 | $107.8K | -$51.4K | -$0.01 | -$3.7M | -47.6% | -5.3% |
| FY2021 | — | -$54.6K | -$0.01 | — | — | 910.4% |
| FY2020 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Serve Robotics Inc. /DE/ revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Serve Robotics Inc. /DE/ has historically struggled to out-earn its cost of capital, averaging just -5.6% ROIC.
Serve Robotics Inc. /DE/ 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, Serve Robotics Inc. /DE/ is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-54.14 per share.