Vaso Corp. (VASO) intrinsic value & 10-year financials
Vaso Corp. (VASO) has a Graham intrinsic value of $0.21 per share. At $0.29 on Oct 17, 2026, the stock trades 38% above that value. Over the last 10 fiscal years revenue grew 2.3% a year to $89.1M, with an average return on invested capital of 24.0%.
- Graham intrinsic value
- $0.21
- Share price (Oct 17, 2026)
- $0.29
- Price vs Graham value
- 38% above
- Market cap
- $51.0M
- Revenue (FY2025)
- $89.1M
- Revenue growth (10-yr CAGR)
- 2.3%
- ROIC (10-yr avg)
- 24.0%
- Free cash flow (FY2025)
- —
VASO 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $89.1M | $1.6M | $0.01 | — | -3.2% | 124.6% |
| FY2024 | $86.8M | $951.0K | $0.01 | — | 0.3% | 2.2% |
| FY2023 | $81.0M | $4.8M | $0.03 | — | 5.2% | 29.8% |
| FY2022 | $80.0M | $11.9M | $0.06 | $13.8M | 8.8% | 85.8% |
| FY2021 | $75.6M | $6.1M | — | $7.4M | 3.7% | 60.2% |
| FY2020 | $69.8M | $358.0K | $0.00 | $4.9M | 1.1% | 10.7% |
| FY2019 | $75.7M | $39.0K | $0.00 | -$2.5M | 1.3% | 7.3% |
| FY2018 | $74.0M | -$3.7M | -$0.00 | -$4.0M | -5.0% | -53.6% |
| FY2017 | $72.8M | -$4.5M | — | -$775.0K | -5.3% | -37.6% |
| FY2016 | $72.6M | $820.0K | — | $3.3M | 2.2% | 10.2% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
VASO Corp has demonstrated mature, steady growth, with revenue compounding at 2.3% annually over the past decade.
VASO Corp has earned high returns on invested capital, averaging 24.0% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Over the decade, VASO Corp shows that management has aggressively returned capital to shareholders by retiring 99.9% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, VASO Corp is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $0.21 per share.