Vistagen Therapeutics, Inc. (VTGN) intrinsic value & 10-year financials
Vistagen Therapeutics, Inc. (VTGN) has a Graham intrinsic value of $19.85 per share. At $0.20 on Oct 17, 2026, the stock trades 99% below that value. Over the last 10 fiscal years revenue shrank 11.1% a year to $486.0K, with an average return on invested capital of -492.9%.
- Graham intrinsic value
- $19.85
- Share price (Oct 17, 2026)
- $0.20
- Price vs Graham value
- 99% below
- Market cap
- $6.2M
- Revenue (FY2025)
- $486.0K
- Revenue growth (10-yr CAGR)
- -11.1%
- ROIC (10-yr avg)
- -492.9%
- Free cash flow (FY2025)
- —
VTGN 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $486.0K | -$51.4M | -$1.67 | — | -11517.1% | -12480.0% |
| FY2024 | $1.1M | -$29.4M | -$1.52 | -$25.8M | -3103.5% | 1150.5% |
| FY2023 | -$227.0K | -$59.2M | -$8.51 | -$50.2M | 26109.3% | 3652.9% |
| FY2022 | $1.1M | -$47.8M | — | -$45.5M | -4308.7% | 1112.0% |
| FY2021 | $1.1M | -$17.9M | — | -$12.3M | -1646.1% | 321.8% |
| FY2020 | $0 | -$20.8M | — | -$15.8M | — | 443.3% |
| FY2019 | — | -$24.6M | — | -$14.7M | — | 408.0% |
| FY2018 | $0 | -$14.3M | — | -$9.1M | — | -377.0% |
| FY2017 | $1.2M | -$10.3M | — | -$7.5M | -819.9% | 306.2% |
| FY2016 | $0 | -$47.2M | -$29.08 | -$4.8M | — | 533.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Vistagen Therapeutics, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Vistagen Therapeutics, Inc. has historically struggled to out-earn its cost of capital, averaging just -4.9% ROIC.
Vistagen Therapeutics, 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, Vistagen Therapeutics, Inc. is modeled at -11.1% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $19.85 per share.