Usio, Inc. (USIO) intrinsic value & 10-year financials
Usio, Inc. (USIO) has a Graham intrinsic value of $3.99 per share. At $3.10 on Oct 27, 2026, the stock trades 22% below that value. Over the last 10 fiscal years revenue grew 24.3% a year to $85.4M, with an average return on invested capital of -26.4%.
- Graham intrinsic value
- $3.99
- Share price (Oct 27, 2026)
- $3.10
- Price vs Graham value
- 22% below
- Market cap
- $83.5M
- Revenue (FY2025)
- $85.4M
- Revenue growth (10-yr CAGR)
- 24.3%
- ROIC (10-yr avg)
- -26.4%
- Free cash flow (FY2025)
- $1.1M
USIO 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $85.4M | -$2.5M | -$0.09 | $1.1M | -2.8% | -16.8% |
| FY2024 | $82.9M | $3.3M | $0.12 | $1.9M | -1.8% | -11.8% |
| FY2023 | $82.6M | -$475.1K | -$0.02 | $14.1M | -2.3% | -18.1% |
| FY2022 | $69.4M | -$5.5M | -$0.27 | -$17.8M | -7.5% | -42.3% |
| FY2021 | $61.9M | -$321.6K | -$0.02 | $28.5M | -0.3% | -1.1% |
| FY2020 | $32.3M | -$2.9M | -$0.19 | $5.4M | -11.6% | -34.3% |
| FY2019 | $28.2M | -$5.1M | -$0.39 | -$4.4M | -18.0% | -65.7% |
| FY2018 | $25.0M | -$3.8M | -$0.31 | -$3.5M | -15.1% | -33.2% |
| FY2017 | $14.6M | -$3.0M | -$0.33 | -$482.6K | -19.5% | -25.6% |
| FY2016 | $12.1M | -$1.2M | -$0.15 | $692.9K | -11.3% | -15.1% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Usio, Inc. is a consistent compounder, expanding top-line revenue at 24.3% annually over the past decade.
Usio, Inc. has historically struggled to out-earn its cost of capital, averaging just -26.4% ROIC.
Usio, Inc. 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, Usio, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $3.99 per share.