Xtant Medical Holdings, Inc. (XTNT) intrinsic value & 10-year financials
Xtant Medical Holdings, Inc. (XTNT) has a Graham intrinsic value of $0.45 per share. At $0.29 on Oct 17, 2026, the stock trades 36% below that value. Over the last 10 fiscal years revenue grew 4.5% a year to $133.9M, with an average return on invested capital of -57.1%.
- Graham intrinsic value
- $0.45
- Share price (Oct 17, 2026)
- $0.29
- Price vs Graham value
- 36% below
- Market cap
- $43.5M
- Revenue (FY2025)
- $133.9M
- Revenue growth (10-yr CAGR)
- 4.5%
- ROIC (10-yr avg)
- -57.1%
- Free cash flow (FY2025)
- $10.2M
XTNT 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $133.9M | $5.0M | $0.03 | $10.2M | 5.4% | 9.4% |
| FY2024 | $117.3M | -$16.4M | -$0.12 | -$16.0M | -10.3% | -19.7% |
| FY2023 | $91.3M | $660.0K | $0.01 | -$11.0M | -11.1% | -11.2% |
| FY2022 | $58.0M | -$8.5M | -$0.09 | -$7.1M | -11.7% | -25.8% |
| FY2021 | $55.3M | -$4.8M | -$0.06 | -$1.7M | -7.0% | -17.4% |
| FY2020 | $53.3M | -$7.0M | -$0.08 | -$2.3M | -1.4% | -2.6% |
| FY2019 | $64.7M | -$8.2M | -$0.21 | -$1.3M | -3.5% | -7.9% |
| FY2018 | $72.2M | -$70.1M | -$1.99 | $588.0K | -83.2% | -423.2% |
| FY2017 | $82.5M | -$52.4M | -$1.45 | -$2.2M | -45.9% | -65.7% |
| FY2016 | $90.0M | -$19.5M | -$0.06 | -$20.2M | -8.4% | -6.9% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Xtant Medical Holdings, Inc. has demonstrated mature, steady growth, with revenue compounding at 4.5% annually over the past decade.
Xtant Medical Holdings, Inc. has historically struggled to out-earn its cost of capital, averaging just -15.2% ROIC.
Over the decade, Xtant Medical Holdings, Inc. shows that management has aggressively returned capital to shareholders by retiring 50.7% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Xtant Medical Holdings, Inc. is modeled at 4.5% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $0.45 per share.