Artivion, Inc. (AORT) 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

-102.2%

-$0.53

vs $23.69 price

Levered DCF

-$6.68

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

1.79

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	FY2018
P/E	207.32×	-89.34×	-23.84×	-25.25×	-53.55×	-53.66×	588.91×	-258×
P/B	4.61×	4.31×	2.59×	1.71×	2.64×	2.72×	3.52×	3.63×
P/S	4.69×	3.07×	2.06×	1.55×	2.65×	3.53×	3.64×	3.8×
EV / EBITDA	35.96×	29.44×	38.37×	31.25×	42.26×	41.99×	34.92×	39.06×
Gross margin	61.3%	64.0%	64.7%	64.5%	66.1%	66.3%	66.3%	65.8%
Operating margin	6.1%	10.0%	1.6%	2.0%	2.7%	1.0%	6.2%	3.5%
Net margin	2.2%	-3.4%	-8.7%	-6.1%	-5.0%	-6.6%	0.6%	-1.4%
Current ratio	2.99×	4.34×	4.85×	4.98×	5.51×	3.88×	4.15×	5.19×
Debt / equity	0.65×	1.31×	1.27×	1.25×	1.2×	0.97×	0.86×	0.81×
Interest coverage	1.01×	1.13×	0.23×	0.34×	0.48×	0.15×	1.14×	0.59×
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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	2.2%	-4.8%	-10.9%	-6.7%	-4.9%	-5.1%	0.6%	-1.4%
Return on invested capital	2.2%	5.3%	0.8%	0.9%	1.1%	0.3%	3.0%	1.0%
Return on assets	1.1%	-1.7%	-3.9%	-2.5%	-1.9%	-2.1%	0.3%	-0.7%
Free cash flow yield	-0.0%	0.9%	1.6%	-3.3%	-2.0%	0.6%	0.8%	0.4%
Earnings yield	0.5%	-1.1%	-4.2%	-4.0%	-1.9%	-1.9%	0.2%	-0.4%
Enterprise value	$2.3B	$1.5B	$1B	$802.7M	$1.1B	$1.1B	$1.2B	$1.2B
Net debt / EBITDA	3.56×	6.06×	11.18×	12.36×	11.79×	9.35×	6.07×	6.03×
Cash conversion cycle (days)	249	242	277	286	311	341	243	225