Telos Corp. (TLS) intrinsic value & 10-year financials
Telos Corp. (TLS) has a Graham intrinsic value of $0.45 per share. At $4.01 on Oct 17, 2026, the stock trades 791% above that value. Over the last 10 fiscal years revenue grew 2.2% a year to $164.8M, with an average return on invested capital of -37.1%.
- Graham intrinsic value
- $0.45
- Share price (Oct 17, 2026)
- $4.01
- Price vs Graham value
- 791% above
- Market cap
- $292.2M
- Revenue (FY2025)
- $164.8M
- Revenue growth (10-yr CAGR)
- 2.2%
- ROIC (10-yr avg)
- -37.1%
- Free cash flow (FY2025)
- $29.4M
TLS 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $164.8M | -$36.5M | -$0.50 | $29.4M | -24.2% | -60.6% |
| FY2024 | $108.3M | -$52.5M | -$0.73 | -$28.2M | -51.6% | -74.5% |
| FY2023 | $145.4M | -$34.4M | -$0.50 | $661.0K | -27.7% | -60.3% |
| FY2022 | $216.9M | -$53.4M | -$0.79 | $15.5M | -24.8% | -82.1% |
| FY2021 | $242.4M | -$43.1M | -$0.65 | $4.1M | -17.1% | -80.3% |
| FY2020 | $179.9M | $1.7M | $0.04 | -$2.9M | 0.2% | -0.6% |
| FY2019 | $159.2M | -$6.4M | -$0.17 | $7.7M | 3.2% | -3.9% |
| FY2018 | $138.0M | -$1.6M | -$0.04 | $3.8M | 6.5% | -7.2% |
| FY2017 | $107.7M | -$5.8M | — | -$1.3M | 0.4% | -0.2% |
| FY2016 | $134.9M | -$7.2M | — | $13.2M | 1.6% | -1.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
TELOS CORP has demonstrated mature, steady growth, with revenue compounding at 2.3% annually over the past decade.
TELOS CORP has historically struggled to out-earn its cost of capital, averaging just -37.1% ROIC.
TELOS 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, TELOS CORP is modeled at 2.2% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $0.45 per share.