Spruce BIOSCIENCES, Inc. (SPRB) intrinsic value & 10-year financials
Spruce BIOSCIENCES, Inc. (SPRB) has a Graham intrinsic value of $4,128.35 per share. At $39.65 on Oct 17, 2026, the stock trades 99% below that value. Over the last 8 fiscal years revenue shrank 51.3% a year to $0, with an average return on invested capital of 110.4%.
- Graham intrinsic value
- $4,128.35
- Share price (Oct 17, 2026)
- $39.65
- Price vs Graham value
- 99% below
- Market cap
- $30.4M
- Revenue (FY2025)
- $0
- Revenue growth (8-yr CAGR)
- -51.3%
- ROIC (10-yr avg)
- 110.4%
- Free cash flow (FY2025)
- —
SPRB 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $0 | -$39.0M | -$50.83 | — | — | 544.1% |
| FY2024 | $4.9M | -$53.0M | -$1.29 | -$56.0M | -1143.4% | 489.9% |
| FY2023 | $10.1M | -$47.9M | -$1.24 | -$33.3M | -515.3% | -299.6% |
| FY2022 | $0 | -$46.2M | -$1.96 | -$41.7M | — | -75.7% |
| FY2021 | — | -$42.3M | -$1.81 | -$36.0M | — | -114.9% |
| FY2020 | — | -$29.5M | — | -$27.6M | — | 185.5% |
| FY2019 | — | -$13.1M | — | -$12.6M | — | 43.5% |
| FY2018 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
SPRUCE BIOSCIENCES, INC. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
SPRUCE BIOSCIENCES, INC. has historically struggled to out-earn its cost of capital, averaging just -19.7% ROIC.
SPRUCE BIOSCIENCES, 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, SPRUCE BIOSCIENCES, INC. is modeled at -51.3% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $4128.35 per share.