Vyne Therapeutics Inc. (VYNE) intrinsic value & 10-year financials

Vyne Therapeutics Inc. (VYNE) has a Graham intrinsic value of $1.48 per share. Over the last 10 fiscal years revenue shrank 1.8% a year to $570.0K, with an average return on invested capital of -278.7%.

Graham intrinsic value
$1.48
Revenue (FY2025)
$570.0K
Revenue growth (10-yr CAGR)
-1.8%
ROIC (10-yr avg)
-278.7%
Free cash flow (FY2025)
-$33.1M

VYNE 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $570.0K -$26.5M -$0.62 -$33.1M -5219.1% -165.7%
FY2024 $501.0K -$39.8M -$0.93 -$34.1M -8710.0% -96.6%
FY2023 $424.0K -$28.5M -$0.69 -$25.3M -6900.5% -100.0%
FY2022 $477.0K -$23.2M -$1.82 — -7189.7% -1026.8%
FY2021 $14.8M -$73.3M $0.35 -$56.4M -461.1% -664.8%
FY2020 $21.0M -$255.6M $1.97 -$137.2M -1203.0% -593.2%
FY2019 $443.0K -$73.7M — -$65.1M -17210.4% -107.2%
FY2018 $3.6M -$51.4M — -$52.9M -1517.0% -148.7%
FY2017 $4.6M -$29.1M — -$28.3M -645.9% 68.4%
FY2016 $674.0K -$14.1M — -$2.3M -2126.4% 47.8%

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

Executive summary

VYNE Therapeutics Inc. is facing top-line stagnation, with revenue contracting over the decade.

VYNE Therapeutics Inc. has historically struggled to out-earn its cost of capital, averaging just -36.1% ROIC.

VYNE Therapeutics 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, VYNE Therapeutics Inc. is modeled at -1.8% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $1.48 per share.

VYNE stock: frequently asked questions

What is the intrinsic value of Vyne Therapeutics Inc. (VYNE) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a -1.8% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, VYNE's intrinsic value is about $1.48 per share.

How fast has Vyne Therapeutics Inc. grown?

Revenue went from $674.0K in fiscal 2016 to $570.0K in fiscal 2025, a compound annual growth rate of -1.8%. Net income was -$26.5M in fiscal 2025.

Does Vyne Therapeutics Inc. generate free cash flow?

Vyne Therapeutics Inc. generated -$33.1M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 9 reported years.

What is VYNE's return on invested capital?

Average ROIC over the last 10 fiscal years was -278.7%, and average return on equity was -98.0%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this VYNE data come from?

From Vyne Therapeutics Inc.'s annual 10-K filings on SEC EDGAR, most recently filed May 15, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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