Spok Holdings, Inc. (SPOK) intrinsic value & 10-year financials
Spok Holdings, Inc. (SPOK) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 2.8% a year to $139.7M, with an average return on invested capital of 0.5%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $10.61
- Market cap
- $223.4M
- Revenue (FY2025)
- $139.7M
- Revenue growth (10-yr CAGR)
- -2.8%
- ROIC (10-yr avg)
- 0.5%
- Free cash flow (FY2025)
- $25.2M
SPOK 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $139.7M | $15.9M | $0.75 | $25.2M | 14.1% | 11.4% |
| FY2024 | $137.7M | $15.0M | $0.73 | $25.7M | 13.8% | 10.5% |
| FY2023 | $139.0M | $15.7M | $0.77 | $22.8M | 15.3% | 10.4% |
| FY2022 | $134.5M | $21.9M | $1.09 | $2.7M | 0.2% | 0.2% |
| FY2021 | $142.2M | -$22.2M | -$1.14 | $3.6M | -19.5% | -14.9% |
| FY2020 | $148.2M | -$44.2M | -$2.32 | $22.7M | -15.3% | -12.1% |
| FY2019 | $160.3M | -$10.8M | -$0.56 | $6.9M | -9.9% | -5.9% |
| FY2018 | $169.5M | -$1.5M | — | $4.4M | -1.9% | -0.8% |
| FY2017 | $171.2M | -$15.3M | — | $6.3M | 6.3% | 1.7% |
| FY2016 | $179.6M | $14.0M | — | $31.2M | 12.3% | 4.2% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Spok Holdings, Inc is facing top-line stagnation, with revenue contracting over the decade.
Spok Holdings, Inc has historically struggled to out-earn its cost of capital, averaging just 0.5% ROIC.
Spok Holdings, 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, Spok Holdings, Inc is modeled at -11.7% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-9.67 per share.