AtlasClear Holdings, Inc. (ATCH) 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

+131.8%

$0.33

vs $0.14 price

Levered DCF

$0.03

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

-1.52

Distress zone

Rating

C+

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
P/E	12.3×	19.2×	10×	-36.94×	23.67×	9,830×	-649,333.33×
P/B	1.13×	1.26×	-0.01×	102.96×	26.29×	1,369.21×	750,833.12×
P/S	1.22×	1.87×	5.29×	1,109.08×	28.74×	1,012.75×	0×
EV / EBITDA	0.2×	-12.4×	112.32×	-1,828.41×	878.89×	7,024.72×	0×
Gross margin	79.2%	77.6%	80.6%	67.5%	73.8%	88.5%	0.0%
Operating margin	43.1%	-34.2%	-45.3%	-387.9%	-13.5%	7.7%	0.0%
Net margin	9.7%	12.1%	53.0%	-3001.1%	1.4%	11.1%	0.0%
Current ratio	1.56×	1.56×	0.85×	0.06×	1.26×	1.16×	0.24×
Debt / equity	0.01×	0.68×	-0×	0.01×	0.08×	0.1×	6.64×
Interest coverage	1.7×	-0.71×	0×	0×	-14.74×	14.6×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	31.2%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	9.1%	8.1%	-0.1%	-278.6%	1.3%	15.0%	-110.7%
Return on invested capital	19.5%	-11.1%	-24.5%	-35.2%	-8.0%	7.6%	-14.5%
Return on assets	2.5%	2.3%	9.4%	-216.5%	0.3%	2.3%	-10.8%
Free cash flow yield	-25.1%	-0.7%	2.7%	-0.0%	-0.4%	-0.0%	-0.0%
Earnings yield	8.0%	6.4%	10.0%	-2.7%	0.1%	0.0%	-0.0%
Enterprise value	$1.7M	$19M	$51M	$4.4B	$252.9M	$13.5B	$14.7B
Net debt / EBITDA	-2.74×	5.45×	-14.39×	0.06×	-28.8×	-5.06×	0×
Cash conversion cycle (days)	23	-283	-4,259	-1,542	-4,355	-11,996	0