Ses Ai Corp. (SES) intrinsic value & 10-year financials
Ses Ai Corp. (SES) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 7 fiscal years revenue grew 929.4% a year to $21.0M, with an average return on invested capital of -37.6%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $0.71
- Market cap
- $236.3M
- Revenue (FY2025)
- $21.0M
- Revenue growth (7-yr CAGR)
- 929.4%
- ROIC (10-yr avg)
- -37.6%
- Free cash flow (FY2025)
- -$61.2M
SES 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $21.0M | -$73.0M | -$0.22 | -$61.2M | -393.4% | -47.3% |
| FY2024 | $2.0M | -$100.2M | -$0.31 | -$78.3M | -5355.3% | -49.4% |
| FY2023 | — | -$53.4M | -$0.17 | -$72.2M | — | -26.5% |
| FY2022 | — | -$51.0M | -$0.18 | -$61.2M | — | -27.0% |
| FY2021 | — | -$11.5M | -$0.51 | -$11.2M | — | — |
| FY2020 | — | -$13.9M | -$0.23 | -$12.0M | — | — |
| FY2019 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
SES AI Corp revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
SES AI Corp has historically struggled to out-earn its cost of capital, averaging just -37.6% ROIC.
SES AI Corp 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, SES AI Corp is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-7.31 per share.