Upstream Bio, Inc. (UPB) intrinsic value & 10-year financials
Upstream Bio, Inc. (UPB) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 4 fiscal years revenue grew 9.5% a year to $2.9M, with an average return on invested capital of -34.0%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $2.76
- Market cap
- $148.6M
- Revenue (FY2025)
- $2.9M
- Revenue growth (4-yr CAGR)
- 9.5%
- ROIC (10-yr avg)
- -34.0%
- Free cash flow (FY2025)
- -$133.4M
UPB 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $2.9M | -$143.4M | -$2.66 | -$133.4M | -5618.8% | -83.6% |
| FY2024 | $2.4M | -$62.8M | -$1.40 | -$59.7M | -3281.2% | -53.6% |
| FY2023 | $2.4M | -$20.5M | -$3.24 | -$38.1M | -1685.5% | 35.0% |
| FY2022 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Upstream Bio, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Upstream Bio, Inc. has historically struggled to out-earn its cost of capital, averaging just -34.1% ROIC.
Upstream Bio, 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, Upstream Bio, Inc. is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-56.23 per share.