AleAnna, Inc. (ANNAW) 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

+1826.6%

$39.30

vs $2.04 price

Levered DCF

$2.74

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

-1.37

Distress zone

Rating

Overall 5 / 5

Ratios by fiscal year

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

Metric	FY2025	FY2024	FY2023	FY2022
P/E	65.16×	-1.54×	-7.55×	-14.07×
P/B	3.3×	8.69×	362.78×	-27.67×
P/S	4.67×	182.8×	0×	0×
EV / EBITDA	0.03×	-39.22×	-78.92×	-192.9×
Gross margin	63.0%	17.1%	0.0%	0.0%
Operating margin	11.6%	-1024.8%	0.0%	0.0%
Net margin	7.2%	-869.3%	0.0%	0.0%
Current ratio	1.93×	13.18×	3.87×	0.25×
Debt / equity	0.05×	0.06×	0×	0×
Interest coverage	0×	0×	-56.52×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022
Return on equity	5.1%	-41.3%	-424.6%	22.1%
Return on invested capital	2.4%	-18.0%	-18.1%	-16.1%
Return on assets	1.8%	-14.9%	-15.3%	-20.8%
Free cash flow yield	2.7%	-15.4%	-3.3%	-3.2%
Earnings yield	1.5%	-4.8%	-1.2%	-0.8%
Enterprise value	$87M	$233M	$434.1M	$410.6M
Net debt / EBITDA	-0.01×	4.48×	1.23×	0.14×
Cash conversion cycle (days)	-239	-369	0	-46,223