Surge Components Inc. (SPRS) intrinsic value & 10-year financials
Surge Components Inc. (SPRS) has a Graham intrinsic value of $6.64 per share. At $3.27 on Oct 17, 2026, the stock trades 51% below that value. Over the last 10 fiscal years revenue shrank 16.7% a year to $5.7M, with an average return on invested capital of 18.1%.
- Graham intrinsic value
- $6.64
- Share price (Oct 17, 2026)
- $3.27
- Price vs Graham value
- 51% below
- Market cap
- $19.0M
- Revenue (FY2025)
- $5.7M
- Revenue growth (10-yr CAGR)
- -16.7%
- ROIC (10-yr avg)
- 18.1%
- Free cash flow (FY2025)
- $794.2K
SPRS 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $5.7M | $1.1M | $0.20 | $794.2K | 22.0% | 5.6% |
| FY2024 | $5.2M | $825.7K | $0.14 | $1.8M | 17.4% | 4.5% |
| FY2023 | $36.3M | $972.1K | $0.17 | $2.1M | 4.2% | 8.2% |
| FY2022 | $51.9M | $3.7M | $0.65 | $2.2M | 9.1% | 40.0% |
| FY2021 | $39.8M | $2.5M | $0.44 | $2.1M | 7.9% | 28.1% |
| FY2020 | $31.7M | $1.5M | $0.27 | $1.1M | 4.7% | 21.6% |
| FY2019 | $32.5M | $2.0M | $0.37 | $985.1K | 6.0% | 35.1% |
| FY2018 | $32.4M | $2.0M | $0.37 | $1.2M | 4.7% | 32.8% |
| FY2017 | $29.8M | $357.5K | $0.05 | $616.4K | 1.1% | 9.2% |
| FY2016 | $29.6M | -$562.5K | -$0.06 | -$147.0K | -1.6% | -4.1% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
SURGE COMPONENTS INC is facing top-line stagnation, with revenue contracting over the decade.
SURGE COMPONENTS INC has earned high returns on invested capital, averaging 18.1% 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, SURGE COMPONENTS INC shows that management has aggressively returned capital to shareholders by retiring 42.4% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, SURGE COMPONENTS INC is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $6.64 per share.