Firefly Neuroscience, Inc. (AIFF) 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

-111.7%

-$0.12

vs $0.99 price

Levered DCF

-$0.35

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

-6.31

Distress zone

Rating

C-

Overall 1 / 5

Ratios by fiscal year

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

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
P/E	-0.47×	-1.66×	-15.36×	-30×	-265.18×	828.57×
P/B	1.51×	-46.26×	366.07×	-53.69×	-387.77×	212.2×
P/S	10.11×	160.64×	80.12×	0×	36,522.88×	24.62×
EV / EBITDA	-0.45×	-1.57×	-14.61×	-35.39×	-306.49×	801.51×
Gross margin	56.5%	38.0%	100.0%	0.0%	100.0%	15.9%
Operating margin	-753.5%	-8500.0%	-618.1%	0.0%	-14543.8%	3.0%
Net margin	-1741.0%	-9685.2%	-522.7%	0.0%	-13690.6%	3.0%
Current ratio	1.43×	0.53×	0.89×	0.04×	0.18×	1.86×
Debt / equity	0×	-1.85×	0×	0×	-0.59×	0.31×
Interest coverage	-54.12×	-133.04×	-171×	-5.8×	-34.47×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	-260.3%	2789.3%	-2388.1%	179.5%	145.4%	25.6%
Return on invested capital	-112.4%	-2877.7%	-2823.9%	157.7%	379.6%	19.5%
Return on assets	-189.8%	-227.3%	-98.6%	-2806.7%	-459.7%	11.0%
Free cash flow yield	-72.1%	-37.9%	-6.4%	-2.6%	-0.3%	0.1%
Earnings yield	-172.2%	-60.3%	-6.5%	-3.3%	-0.4%	0.1%
Enterprise value	$8.8M	$16.2M	$37.8M	$113.3M	$1.2B	$341M
Net debt / EBITDA	0.14×	0.11×	0.83×	0.02×	-0.3×	-3.2×
Cash conversion cycle (days)	-848	-9,484	62	0	468	35