Exagen Inc. (XGN) intrinsic value & 10-year financials
Exagen Inc. (XGN) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 9 fiscal years revenue grew 10.8% a year to $66.6M, with an average return on invested capital of -142.8%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $7.72
- Market cap
- $166.4M
- Revenue (FY2025)
- $66.6M
- Revenue growth (9-yr CAGR)
- 10.8%
- ROIC (10-yr avg)
- -142.8%
- Free cash flow (FY2025)
- -$14.3M
XGN 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $66.6M | -$20.0M | -$0.93 | -$14.3M | -21.1% | -140.0% |
| FY2024 | $55.6M | -$15.1M | -$0.83 | -$13.8M | -24.5% | -148.3% |
| FY2023 | $52.5M | -$23.7M | -$1.34 | -$15.3M | -43.5% | -196.9% |
| FY2022 | $45.6M | -$47.4M | -$2.77 | -$36.5M | -101.1% | -334.8% |
| FY2021 | $48.3M | -$26.9M | -$1.68 | -$22.6M | -49.8% | -200.4% |
| FY2020 | $42.0M | -$16.7M | -$1.32 | -$14.5M | -36.2% | -147.6% |
| FY2019 | $40.4M | -$12.0M | — | -$10.1M | -23.0% | 20.4% |
| FY2018 | $32.4M | -$8.0M | — | -$9.5M | -15.0% | 4.9% |
| FY2017 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
EXAGEN INC. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
EXAGEN INC. has historically struggled to out-earn its cost of capital, averaging just -52.2% ROIC.
EXAGEN 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, EXAGEN INC. is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-19.66 per share.