Spruce Power Holding Corp. (SPRU) intrinsic value & 10-year financials
Spruce Power Holding Corp. (SPRU) has a Graham intrinsic value of $6.31 per share. At $1.35 on Oct 20, 2026, the stock trades 79% below that value. Over the last 8 fiscal years revenue grew 57.9% a year to $111.8M, with an average return on invested capital of -59.8%.
- Graham intrinsic value
- $6.31
- Share price (Oct 20, 2026)
- $1.35
- Price vs Graham value
- 79% below
- Market cap
- $24.4M
- Revenue (FY2025)
- $111.8M
- Revenue growth (8-yr CAGR)
- 57.9%
- ROIC (10-yr avg)
- -59.8%
- Free cash flow (FY2025)
- -$3.8M
SPRU 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $111.8M | -$26.0M | -$1.44 | -$3.8M | 16.0% | 2.3% |
| FY2024 | $82.1M | -$70.5M | -$3.82 | -$42.2M | -61.4% | -9.5% |
| FY2023 | $79.9M | -$65.8M | -$3.58 | -$34.2M | -46.1% | -10.4% |
| FY2022 | $23.2M | -$93.9M | -$0.66 | — | -258.1% | -32.3% |
| FY2021 | $15.6M | $28.8M | $0.19 | -$52.1M | -377.6% | 447.3% |
| FY2020 | $20.3M | -$25.6M | -$0.72 | -$20.0M | -75.2% | -576.9% |
| FY2019 | $7.2M | -$14.9M | -$0.19 | -$11.6M | -188.1% | -239.4% |
| FY2018 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
SPRUCE POWER HOLDING CORP revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
SPRUCE POWER HOLDING CORP has historically struggled to out-earn its cost of capital, averaging just -7.7% ROIC.
SPRUCE POWER HOLDING CORP 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 POWER HOLDING CORP is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $6.31 per share.