Firy Inc. (SKLZ) intrinsic value & 10-year financials

Firy Inc. (SKLZ) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 9 fiscal years revenue grew 10.9% a year to $104.5M, with an average return on invested capital of -216.8%.

Graham intrinsic value
—
Revenue (FY2025)
$104.5M
Revenue growth (9-yr CAGR)
10.9%
ROIC (10-yr avg)
-216.8%
Free cash flow (FY2025)
-$70.3M

SKLZ 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $104.5M -$70.4M -$4.51 -$70.3M -61.2% -156.5%
FY2024 $92.9M -$46.8M -$2.62 -$7.7M -50.1% -116.9%
FY2023 $152.1M -$101.4M -$4.85 -$85.0M -75.2% -93.3%
FY2022 $269.7M -$438.9M -$1.07 -$181.5M -156.2% -96.0%
FY2021 $384.1M -$181.4M -$0.69 -$183.4M -74.8% -80.2%
FY2020 $230.1M -$122.5M -$0.49 -$59.5M -43.3% 795.6%
FY2019 $119.9M -$23.6M -$0.09 -$25.2M -20.7% -931.6%
FY2018 $50.8M -$27.8M — -$17.8M -50.3% -1055.1%
FY2017 — — — — — —

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

Executive summary

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

Skillz Inc. has historically struggled to out-earn its cost of capital, averaging just -50.0% ROIC.

Skillz 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, Skillz Inc. is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-95.33 per share.

SKLZ stock: frequently asked questions

What is the intrinsic value of Firy Inc. (SKLZ) stock?

Graham's formula only works with positive earnings. Firy Inc. reported diluted EPS of -$4.51 in fiscal 2025, so no Graham value is shown. The 10-year table shows revenue and cash-flow trends instead.

Does Firy Inc. generate free cash flow?

Firy Inc. generated -$70.3M 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 SKLZ's return on invested capital?

Average ROIC over the last 9 fiscal years was -216.8%, and average return on equity was -217.2%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this SKLZ data come from?

From Firy Inc.'s annual 10-K filings on SEC EDGAR, most recently filed May 15, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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