Simulations Plus, Inc. (SLP) intrinsic value & 10-year financials
Simulations Plus, Inc. (SLP) has a Graham intrinsic value of $16.28 per share. Over the last 10 fiscal years revenue grew 16.5% a year to $79.2M, with an average return on invested capital of 10.6%.
- Graham intrinsic value
- $16.28
- Revenue (FY2025)
- $79.2M
- Revenue growth (10-yr CAGR)
- 16.5%
- ROIC (10-yr avg)
- 10.6%
- Free cash flow (FY2025)
- $17.4M
SLP 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $79.2M | -$64.7M | -$3.22 | $17.4M | -89.3% | -49.4% |
| FY2024 | $70.0M | $10.0M | $0.49 | $12.8M | 8.8% | 3.4% |
| FY2023 | $59.6M | $10.0M | $0.49 | $21.4M | 14.6% | 6.2% |
| FY2022 | $53.9M | $12.5M | $0.60 | $17.1M | 27.7% | 9.6% |
| FY2021 | $46.5M | $9.8M | $0.47 | $17.6M | 24.2% | 8.4% |
| FY2020 | $41.6M | $9.3M | $0.50 | $10.7M | 27.9% | 14.2% |
| FY2019 | $34.0M | $8.6M | $0.48 | $11.5M | 31.3% | 33.2% |
| FY2018 | $29.7M | $8.9M | $0.50 | $9.1M | 34.7% | 35.5% |
| FY2017 | $24.1M | $5.8M | $0.33 | $6.7M | 34.2% | 22.9% |
| FY2016 | $20.0M | $5.0M | $0.29 | $5.4M | 36.2% | 21.8% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Simulations Plus, Inc. is a consistent compounder, expanding top-line revenue at 16.5% annually over the past decade.
Simulations Plus, Inc. returns on capital have been average, hovering around 10.6% ROIC over the decade.
Simulations Plus, Inc. 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, Simulations Plus, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $16.28 per share.