XCel Brands, Inc. (XELB) intrinsic value & 10-year financials
XCel Brands, Inc. (XELB) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 19.0% a year to $4.9M, with an average return on invested capital of -13.9%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $0.43
- Market cap
- $1.5M
- Revenue (FY2025)
- $4.9M
- Revenue growth (10-yr CAGR)
- -19.0%
- ROIC (10-yr avg)
- -13.9%
- Free cash flow (FY2025)
- -$7.0M
XELB 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $4.9M | -$17.5M | -$5.08 | -$7.0M | -267.9% | -35.6% |
| FY2024 | $8.3M | -$22.4M | -$9.84 | -$4.8M | -259.2% | -44.2% |
| FY2023 | $17.8M | -$21.1M | -$1.07 | -$6.6M | -116.3% | -32.3% |
| FY2022 | $25.8M | -$4.0M | -$0.20 | -$14.4M | -8.8% | -2.3% |
| FY2021 | $37.9M | -$12.2M | -$0.63 | -$7.7M | -33.1% | -9.5% |
| FY2020 | $29.4M | -$12.9M | -$0.68 | $2.4M | -55.7% | -10.7% |
| FY2019 | $41.7M | -$3.4M | -$0.18 | $2.4M | -6.3% | -1.9% |
| FY2018 | $35.5M | $1.1M | $0.06 | $5.1M | 11.1% | 1.8% |
| FY2017 | $31.7M | -$10.1M | -$0.55 | $4.5M | -29.1% | -7.5% |
| FY2016 | $32.8M | $2.7M | — | $5.8M | 14.9% | 3.5% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
XCel Brands, Inc. is facing top-line stagnation, with revenue contracting over the decade.
XCel Brands, Inc. has historically struggled to out-earn its cost of capital, averaging just -13.9% ROIC.
Over the decade, XCel Brands, Inc. shows that management has aggressively returned capital to shareholders by retiring 82.0% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, XCel Brands, Inc. is modeled at -19.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-1.52 per share.