Aeluma, Inc. (ALMU) 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

-264.3%

-$12.35

vs $7.52 price

Levered DCF

-$27.44

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

23.39

Safe zone

Rating

Overall 2 / 5

Ratios by fiscal year

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

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	-42.46×	-71.17×	-9.59×	-6.17×	-6.25×	0×	-1,538.46×	-71,237.5×
P/B	6.85×	12.04×	19.18×	5.4×	4.18×	0×	0×	0×
P/S	87.44×	46.21×	47.51×	170.69×	0×	0×	0×	0×
EV / EBITDA	-34.52×	-112.52×	-10.22×	-5.35×	-5×	0×	0×	0×
Gross margin	35.2%	59.6%	32.6%	43.4%	0.0%	0.0%	0.0%	0.0%
Operating margin	-228.3%	-45.9%	-496.5%	-2849.8%	0.0%	0.0%	0.0%	0.0%
Net margin	-205.3%	-64.8%	-496.4%	-2782.5%	0.0%	0.0%	0.0%	0.0%
Current ratio	30.32×	24.59×	2.22×	7.05×	11.9×	26.03×	0×	0×
Debt / equity	0.04×	0.05×	0.47×	0.08×	0.12×	0.09×	0×	0×
Interest coverage	0×	-3×	0×	0×	0×	0×	-11.67×	0×
Dividend yield	0.0%	0.0%	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%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-16.1%	-16.9%	-200.4%	-88.0%	-67.7%	0.0%	0.0%	0.0%
Return on invested capital	-17.3%	-11.4%	-136.4%	-83.9%	-65.3%	0.0%	0.0%	0.0%
Return on assets	-15.1%	-15.6%	-118.7%	-75.1%	-58.2%	0.0%	0.0%	0.0%
Free cash flow yield	-1.0%	-0.6%	-8.7%	-13.1%	-15.1%	0.0%	-0.5%	-0.0%
Earnings yield	-2.3%	-1.4%	-10.4%	-16.3%	-16.2%	0.0%	-0.1%	-0.0%
Enterprise value	$336.1M	$212.9M	$43.4M	$28.4M	$18.2M	-$6M	$0	$0
Net debt / EBITDA	5.55×	1.42×	0.05×	0.87×	0.86×	0×	0×	0×
Cash conversion cycle (days)	-15	5	-163	-1,184	0	0	0	0