Asure Software, Inc. (ASUR) 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

-136.0%

-$3.56

vs $9.90 price

Levered DCF

$7.33

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

-0.42

Distress zone

Rating

B-

Overall 2 / 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	-19.63×	-20.91×	-22.67×	-12.97×	46.06×	-6.89×	-3×	-9.41×
P/B	1.31×	1.24×	1.1×	1.3×	0.96×	0.78×	0.92×	0.69×
P/S	1.84×	2.05×	1.77×	1.96×	1.99×	1.72×	1.73×	0.8×
EV / EBITDA	14.96×	17.61×	11.13×	20.4×	7.51×	83.12×	46.77×	76.68×
Gross margin	67.5%	68.5%	71.8%	65.2%	61.2%	58.2%	59.2%	65.3%
Operating margin	-6.0%	-9.0%	-2.5%	-11.8%	-16.8%	-22.7%	-68.9%	-7.0%
Net margin	-9.3%	-9.8%	-7.7%	-15.1%	4.2%	-24.9%	41.0%	-8.5%
Current ratio	1.07×	1.06×	1.11×	1.03×	1.07×	1.02×	1.12×	1.08×
Debt / equity	0.38×	0.09×	0.05×	0.3×	0.26×	0.23×	0.25×	1.09×
Interest coverage	-1.66×	-10.49×	-0.53×	-2.55×	-6.29×	-12.16×	-3.15×	-0.73×
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	-6.6%	-6.0%	-4.8%	-10.0%	2.0%	-11.2%	21.8%	-7.4%
Return on invested capital	-3.0%	-4.7%	-1.5%	-5.9%	-5.0%	-8.2%	-18.6%	-1.5%
Return on assets	-2.5%	-2.7%	-2.1%	-3.4%	0.7%	-3.2%	9.4%	-2.1%
Free cash flow yield	8.3%	-6.0%	1.3%	2.6%	-18.8%	-12.9%	-7.1%	-18.2%
Earnings yield	-5.1%	-4.8%	-4.4%	-7.7%	2.1%	-14.4%	23.6%	-10.6%
Enterprise value	$307.9M	$241.5M	$190.9M	$214.1M	$179.1M	$118M	$132.3M	$167.7M
Net debt / EBITDA	2.41×	-0.27×	-1.16×	2.5×	1.17×	3.52×	1.91×	44.13×
Cash conversion cycle (days)	46	44	17	25	22	10	40	23