Ategrity Specialty Holdings LLC (ASIC) 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

+364.3%

$112.85

vs $24.31 price

Levered DCF

$106.16

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.32

Distress zone

Rating

Overall 3 / 5

Ratios by fiscal year

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

Metric	FY2025	FY2024	FY2023
P/E	12.66×	24.68×	117.52×
P/B	1.53×	2.91×	3.6×
P/S	2.21×	3.37×	4.8×
EV / EBITDA	9.28×	16.41×	59.28×
Gross margin	50.0%	31.4%	17.0%
Operating margin	22.6%	19.3%	5.2%
Net margin	17.4%	13.7%	4.2%
Current ratio	0.69×	1.28×	1.07×
Debt / equity	0×	0×	0×
Interest coverage	70.63×	32.45×	5.64×
Dividend yield	0.7%	0.0%	0.2%
Payout ratio	9.3%	0.9%	27.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023
Return on equity	12.0%	11.8%	3.1%
Return on invested capital	12.3%	13.3%	3.0%
Return on assets	5.0%	4.2%	1.1%
Free cash flow yield	15.0%	10.8%	7.4%
Earnings yield	7.9%	4.1%	0.9%
Enterprise value	$908.5M	$1.1B	$894.2M
Net debt / EBITDA	-0.3×	-0.39×	-17.54×
Cash conversion cycle (days)	95	231	225