Vuzix Corp. (VUZI) intrinsic value & 10-year financials
Vuzix Corp. (VUZI) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 12.8% a year to $6.3M, with an average return on invested capital of -278.0%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $2.13
- Market cap
- $165.3M
- Revenue (FY2025)
- $6.3M
- Revenue growth (10-yr CAGR)
- 12.8%
- ROIC (10-yr avg)
- -278.0%
- Free cash flow (FY2025)
- -$20.8M
VUZI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $6.3M | -$32.3M | -$0.42 | -$20.8M | -517.6% | -806.0% |
| FY2024 | $5.8M | -$73.5M | -$1.08 | -$25.1M | -1285.4% | -136.0% |
| FY2023 | $12.1M | -$50.1M | -$0.79 | -$31.6M | -431.2% | -105.8% |
| FY2022 | $11.8M | -$40.8M | -$0.64 | -$26.2M | -356.8% | -118.9% |
| FY2021 | $13.2M | -$40.4M | -$0.52 | -$30.8M | -303.7% | -215.8% |
| FY2020 | $11.6M | -$18.0M | -$0.53 | -$14.5M | -165.2% | -134.2% |
| FY2019 | $6.7M | -$26.5M | -$0.94 | -$24.3M | -398.3% | -174.7% |
| FY2018 | $8.1M | -$21.9M | — | -$23.9M | -270.1% | -336.8% |
| FY2017 | $5.5M | -$19.6M | — | -$18.1M | -349.5% | -348.9% |
| FY2016 | $2.1M | -$19.3M | — | -$16.4M | -871.3% | -402.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Vuzix Corp is a consistent compounder, expanding top-line revenue at 12.8% annually over the past decade.
Vuzix Corp has historically struggled to out-earn its cost of capital, averaging just -51.8% ROIC.
Vuzix Corp 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, Vuzix Corp is modeled at 12.8% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-12.34 per share.