Vireo Growth Inc. (VREOF) intrinsic value & 10-year financials

Vireo Growth Inc. (VREOF) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 7 fiscal years revenue grew 40.4% a year to $268.8M, with an average return on invested capital of -4.0%.

Graham intrinsic value
—
Share price (Oct 17, 2026)
$9.00
Market cap
$6.6B
Revenue (FY2025)
$268.8M
Revenue growth (7-yr CAGR)
40.4%
ROIC (10-yr avg)
-4.0%
Free cash flow (FY2025)
-$24.6M

VREOF 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $268.8M -$68.1M -$0.09 -$24.6M -0.4% -0.6%
FY2024 $99.4M -$28.0M -$0.04 -$21.9M 13.6% 68.6%
FY2023 $88.1M -$25.5M -$0.05 -$5.9M 12.0% 22.8%
FY2022 $74.6M -$42.5M -$0.08 -$23.6M -9.3% -13.7%
FY2021 $54.4M -$33.7M -$0.07 -$48.6M -37.6% -43.5%
FY2020 $49.2M -$22.9M -$0.06 -$19.4M -46.8% -57.9%
FY2019 — — — — — —

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

Vireo Growth Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.

Vireo Growth Inc. has historically struggled to out-earn its cost of capital, averaging just -4.0% ROIC.

Vireo Growth 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, Vireo Growth Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-2.99 per share.

VREOF stock: frequently asked questions

What is the intrinsic value of Vireo Growth Inc. (VREOF) stock?

Graham's formula only works with positive earnings. Vireo Growth Inc. reported diluted EPS of -$0.09 in fiscal 2025, so no Graham value is shown. The 10-year table shows revenue and cash-flow trends instead.

Does Vireo Growth Inc. generate free cash flow?

Vireo Growth Inc. generated -$24.6M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 6 reported years.

What is VREOF's return on invested capital?

Average ROIC over the last 7 fiscal years was -4.0%, and average return on equity was -10.3%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this VREOF data come from?

From Vireo Growth Inc.'s annual 10-K filings on SEC EDGAR, most recently filed May 12, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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