Sprouts Farmers Market, Inc. (SFM) intrinsic value & 10-year financials
Sprouts Farmers Market, Inc. (SFM) has a Graham intrinsic value of $176.38 per share. At $65.20 on Oct 17, 2026, the stock trades 63% below that value. Over the last 10 fiscal years revenue grew 12.8% a year to $8.8B, with an average return on invested capital of 15.5%.
- Graham intrinsic value
- $176.38
- Share price (Oct 17, 2026)
- $65.20
- Price vs Graham value
- 63% below
- Market cap
- $6.4B
- Revenue (FY2025)
- $8.8B
- Revenue growth (10-yr CAGR)
- 12.8%
- ROIC (10-yr avg)
- 15.5%
- Free cash flow (FY2025)
- $467.7M
SFM 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $8.8B | $523.7M | $5.31 | $467.7M | 7.8% | 19.2% |
| FY2024 | $7.7B | $380.6M | $3.75 | $414.8M | 6.5% | 15.0% |
| FY2023 | $6.8B | $258.9M | $2.50 | $239.8M | 5.1% | 11.6% |
| FY2022 | $6.1B | $244.2M | $2.10 | $262.4M | 5.5% | 13.1% |
| FY2021 | $6.5B | $287.4M | $2.43 | $372.1M | 6.1% | 17.7% |
| FY2019 | $5.6B | $149.6M | $1.25 | $172.0M | 3.9% | 12.6% |
| FY2018 | $5.2B | $158.5M | $1.22 | $117.3M | 4.3% | 18.5% |
| FY2017 | $4.0B | $124.3M | $0.83 | $73.3M | 5.3% | 15.1% |
| FY2016 | $3.6B | $129.0M | $0.83 | $114.6M | 6.4% | 17.3% |
| FY2014 | $3.0B | $107.7M | $0.70 | $54.2M | 6.7% | 15.2% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Sprouts Farmers Market, Inc. is a consistent compounder, expanding top-line revenue at 12.8% annually over the past decade.
Sprouts Farmers Market, Inc. has earned high returns on invested capital, averaging 15.5% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Over the decade, Sprouts Farmers Market, Inc. shows that management has aggressively returned capital to shareholders by retiring 36.0% of outstanding shares, and that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Sprouts Farmers Market, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $176.38 per share.