Tenon Medical, Inc. (TNON) intrinsic value & 10-year financials
Tenon Medical, Inc. (TNON) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 6 fiscal years revenue grew 122.8% a year to $3.9M, with an average return on invested capital of 801.1%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $2.70
- Market cap
- $19.9K
- Revenue (FY2025)
- $3.9M
- Revenue growth (6-yr CAGR)
- 122.8%
- ROIC (10-yr avg)
- 801.1%
- Free cash flow (FY2025)
- -$11.0M
TNON 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $3.9M | -$12.6M | -$1.70 | -$11.0M | -324.3% | 2968.3% |
| FY2024 | $3.3M | -$13.7M | -$1.88 | -$10.1M | -420.1% | 1662.4% |
| FY2023 | $2.9M | -$15.6M | -$1.43 | -$12.5M | -537.1% | -869.5% |
| FY2022 | $691.0K | -$18.9M | -$0.39 | -$12.9M | -2709.8% | 213.1% |
| FY2021 | $160.0K | -$7.0M | -$0.14 | -$4.4M | -4038.1% | 31.2% |
| FY2020 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Tenon Medical, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Tenon Medical, Inc. returns on capital have been average, hovering around 14.2% ROIC over the decade.
Tenon Medical, 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, Tenon Medical, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-56.47 per share.