AirSculpt Technologies, Inc. (AIRS) 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

-147.8%

-$0.80

vs $1.67 price

Levered DCF

$0.52

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.08

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	FY2019
P/E	-10.42×	-37.07×	-94.93×	-14.23×	-2,421.13×	113.5×	-173.85×
P/B	1.36×	3.78×	5.06×	2.91×	11.45×	7.15×	7.34×
P/S	0.79×	1.66×	2.17×	1.22×	7.17×	14.09×	21.44×
EV / EBITDA	159.55×	39.34×	26.08×	66.17×	46.13×	58.92×	164.34×
Gross margin	59.4%	60.4%	62.2%	65.5%	66.6%	62.6%	62.4%
Operating margin	-3.2%	-1.0%	4.8%	-2.7%	11.8%	16.0%	1.6%
Net margin	-7.7%	-4.6%	-2.3%	-8.7%	7.9%	12.1%	-5.4%
Current ratio	0.55×	0.6×	0.79×	0.75×	1.79×	1.22×	0.79×
Debt / equity	0.95×	1.32×	1.19×	1.52×	1.2×	0.4×	0.37×
Interest coverage	-0.8×	-0.29×	1.46×	-0.67×	3.23×	4.09×	0.23×
Dividend yield	0.0%	0.1%	0.1%	11.8%	7.0%	0.5%	0.0%
Payout ratio	0.0%	-3.1%	-10.4%	-165.7%	633.6%	60.9%	-12.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-13.3%	-10.4%	-5.3%	-20.7%	12.6%	6.1%	-1.8%
Return on invested capital	-1.9%	-0.9%	-7.4%	-2.5%	8.1%	5.8%	0.4%
Return on assets	-6.2%	-3.9%	-2.2%	-7.3%	5.3%	4.2%	-1.3%
Free cash flow yield	0.6%	-0.9%	3.3%	5.6%	2.0%	1.2%	0.1%
Earnings yield	-9.7%	-2.8%	-1.1%	-7.1%	1.1%	0.9%	-0.3%
Enterprise value	$194.8M	$396.2M	$514.7M	$304.1M	$1B	$923.5M	$924.1M
Net debt / EBITDA	61.52×	9.61×	4.53×	21.33×	3.36×	2.51×	7.11×
Cash conversion cycle (days)	-28	-26	-16	-18	-22	-17	-50