Vsee HEALTH, Inc. (VSEE) intrinsic value & 10-year financials
Vsee HEALTH, Inc. (VSEE) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 5 fiscal years revenue grew 59.2% a year to $14.6M, with an average return on invested capital of 139.1%.
- Graham intrinsic value
- —
- Revenue (FY2025)
- $14.6M
- Revenue growth (5-yr CAGR)
- 59.2%
- ROIC (10-yr avg)
- 139.1%
- Free cash flow (FY2025)
- -$3.5M
VSEE 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $14.6M | -$14.7M | -$0.73 | -$3.5M | -65.6% | -643.7% |
| FY2024 | $10.4M | -$57.7M | -$2.83 | -$5.8M | -596.4% | 1111.4% |
| FY2023 | $5.8M | -$4.4M | -$0.54 | -$966.4K | -45.0% | 21.9% |
| FY2022 | — | -$3.2M | -$0.12 | — | — | 66.8% |
| FY2021 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
VSEE HEALTH, INC. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
VSEE HEALTH, INC. has earned high returns on invested capital, averaging 23.4% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
VSEE HEALTH, 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, VSEE HEALTH, INC. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-24.25 per share.