ACCO Brands Corporation (ACCO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+119.8%

$12.54

vs $5.71 price

Levered DCF

$5.42

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

0.87

Distress zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	8.29×	-4.95×	-26.43×	-39.93×	7.72×	13×	8.75×	6.65×
P/B	0.52×	0.83×	0.74×	0.66×	0.91×	1.08×	1.2×	0.9×
P/S	0.23×	0.3×	0.32×	0.27×	0.39×	0.48×	0.48×	0.37×
EV / EBITDA	7.16×	35.18×	12.58×	11.18×	7.63×	10.61×	6.59×	5.66×
Gross margin	29.8%	33.3%	32.6%	28.4%	30.4%	29.7%	32.4%	32.3%
Operating margin	7.1%	-2.2%	2.4%	1.8%	7.5%	6.8%	10.0%	9.6%
Net margin	2.7%	-6.1%	-1.2%	-0.7%	5.0%	3.7%	5.5%	5.5%
Current ratio	1.61×	1.49×	1.58×	1.5×	1.31×	1.31×	1.37×	1.47×
Debt / equity	1.39×	1.52×	1.29×	1.35×	1.28×	1.66×	1.19×	1.12×
Interest coverage	2.36×	-0.7×	0.76×	0.76×	3.26×	2.9×	4.54×	4.54×
Dividend yield	7.9%	5.7%	4.9%	5.4%	3.3%	3.1%	2.6%	3.5%
Payout ratio	65.4%	-28.0%	-130.7%	-216.7%	25.3%	39.7%	22.8%	23.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	6.2%	-16.8%	-2.8%	-1.6%	11.8%	8.3%	13.8%	13.5%
Return on invested capital	4.9%	-2.0%	2.1%	-1.3%	5.6%	3.4%	5.7%	5.7%
Return on assets	1.8%	-4.6%	-0.8%	-0.5%	3.3%	2.0%	3.8%	3.8%
Free cash flow yield	14.8%	26.4%	19.8%	11.5%	17.5%	13.0%	18.4%	22.6%
Earnings yield	12.0%	-20.2%	-3.8%	-2.5%	12.9%	7.7%	11.5%	15.0%
Enterprise value	$1.2B	$1.4B	$1.5B	$1.6B	$1.9B	$2B	$1.8B	$1.5B
Net debt / EBITDA	5.11×	22.11×	7.81×	7.37×	4.39×	6.35×	3.23×	3.02×
Cash conversion cycle (days)	121	110	128	113	106	118	95	99