STMicroelectronics N.V. (STM) intrinsic value & 10-year financials
STMicroelectronics N.V. (STM) has a Graham intrinsic value of $1.13 per share. Over the last 10 fiscal years revenue grew 6.0% a year to $11.8B, with an average return on invested capital of 17.5%.
- Graham intrinsic value
- $1.13
- Revenue (FY2025)
- $11.8B
- Revenue growth (10-yr CAGR)
- 6.0%
- ROIC (10-yr avg)
- 17.5%
- Free cash flow (FY2025)
- —
STM 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $11.8B | $166.0M | $0.18 | — | 1.5% | 0.5% |
| FY2024 | $13.3B | $1.6B | $1.66 | — | 12.6% | 8.0% |
| FY2023 | $17.3B | $4.2B | $4.46 | — | 26.7% | 28.2% |
| FY2022 | $16.1B | $4.0B | $4.19 | — | 27.5% | 37.3% |
| FY2021 | $12.8B | $2.0B | $2.16 | — | 19.0% | 24.6% |
| FY2020 | $10.2B | $1.1B | $1.20 | — | 12.9% | 15.6% |
| FY2019 | $9.6B | $1.0B | $1.14 | — | 12.6% | 16.5% |
| FY2018 | $9.7B | $1.3B | $1.41 | — | 14.5% | 23.0% |
| FY2017 | $8.3B | $802.0M | $0.89 | — | 11.9% | 17.4% |
| FY2016 | $7.0B | $165.0M | $0.19 | — | 3.1% | 4.1% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
STMicroelectronics N.V. has demonstrated mature, steady growth, with revenue compounding at 6.0% annually over the past decade.
STMicroelectronics N.V. has earned high returns on invested capital, averaging 17.5% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
STMicroelectronics N.V. 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, STMicroelectronics N.V. is modeled at -0.6% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $1.13 per share.