Whitehawk Therapeutics, Inc. (WHWK) intrinsic value & 10-year financials

Whitehawk Therapeutics, Inc. (WHWK) has a Graham intrinsic value of $5.42 per share. At $2.89 on Oct 17, 2026, the stock trades 47% below that value. Over the last 10 fiscal years revenue shrank 13.8% a year to $7.1M, with an average return on invested capital of 256.7%.

Graham intrinsic value
$5.42
Share price (Oct 17, 2026)
$2.89
Price vs Graham value
47% below
Market cap
$178.9M
Revenue (FY2025)
$7.1M
Revenue growth (10-yr CAGR)
-13.8%
ROIC (10-yr avg)
256.7%
Free cash flow (FY2025)
-$98.0M

WHWK 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $7.1M -$20.6M -$0.33 -$98.0M -1601.1% -185.8%
FY2024 $26.0M -$63.7M -$2.36 -$61.2M -259.6% -199.8%
FY2023 $24.4M -$65.8M -$2.44 -$63.6M -295.4% -87.8%
FY2022 $15.2M -$60.5M -$2.69 -$50.1M -411.9% -115.5%
FY2021 $1.1M -$110.1M -$12.41 -$22.5M -9930.1% 918.5%
FY2020 $15.0M -$4.3M — -$5.4M -42.4% —
FY2019 $0 -$23.3M — -$24.1M — 1210.9%
FY2018 $20.2M -$10.4M — -$5.8M -55.5% —
FY2017 — -$21.4M — -$18.9M — —
FY2016 — -$39.4K — -$137.8K — —

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

Executive summary

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

Whitehawk Therapeutics, Inc. has historically struggled to out-earn its cost of capital, averaging just -31.0% ROIC.

Whitehawk 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, Whitehawk Therapeutics, Inc. is modeled at -13.8% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $5.42 per share.

WHWK stock: frequently asked questions

What is the intrinsic value of Whitehawk Therapeutics, Inc. (WHWK) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a -13.8% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, WHWK's intrinsic value is about $5.42 per share.

Is WHWK stock undervalued?

At $2.89 (close on Oct 17, 2026), WHWK trades 47% below its Graham value of $5.42. On Graham's terms that leaves a margin of safety. A formula is a starting point for research, not a recommendation.

Does Whitehawk Therapeutics, Inc. generate free cash flow?

Whitehawk Therapeutics, Inc. generated -$98.0M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 10 reported years.

What is WHWK's return on invested capital?

Average ROIC over the last 10 fiscal years was 256.7%, and average return on equity was -63.5%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this WHWK data come from?

From Whitehawk Therapeutics, Inc.'s annual 10-K filings on SEC EDGAR, most recently filed Aug 6, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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