AptarGroup, Inc. (ATR) 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

+18.9%

$171.74

vs $144.48 price

Levered DCF

$147.57

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

4.18

Safe zone

Rating

B+

Overall 3 / 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	20.43×	27.81×	28.48×	30.05×	32.92×	41.23×	30.35×	30.15×
P/B	3.01×	4.22×	3.52×	3.5×	4.08×	4.77×	4.68×	4.13×
P/S	2.12×	2.91×	2.33×	2.17×	2.49×	3.01×	2.57×	2.12×
EV / EBITDA	11×	14.5×	13.67×	13.58×	15.62×	17.52×	14.61×	14.51×
Gross margin	29.6%	37.8%	36.2%	35.0%	35.8%	37.1%	36.4%	34.4%
Operating margin	13.6%	13.9%	11.6%	11.4%	10.8%	11.6%	13.0%	10.4%
Net margin	10.4%	10.5%	8.2%	7.2%	7.6%	7.3%	8.5%	7.0%
Current ratio	1.62×	1.38×	1.24×	1.56×	1.38×	1.75×	1.89×	1.93×
Debt / equity	0.57×	0.44×	0.51×	0.59×	0.63×	0.66×	0.8×	0.91×
Interest coverage	9.71×	11.31×	10×	9.29×	11.47×	10.21×	10.47×	8.77×
Dividend yield	1.5%	1.1%	1.3%	1.4%	1.2%	1.1%	1.2%	1.4%
Payout ratio	30.8%	30.5%	36.4%	41.6%	40.4%	43.3%	37.2%	42.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	14.7%	15.2%	12.3%	11.7%	12.4%	11.6%	15.4%	13.7%
Return on invested capital	9.2%	10.7%	8.4%	8.0%	7.6%	7.3%	8.8%	7.3%
Return on assets	7.5%	8.5%	6.4%	5.7%	5.9%	5.4%	6.8%	5.8%
Free cash flow yield	3.7%	3.4%	3.2%	2.3%	0.7%	3.6%	3.6%	1.7%
Earnings yield	4.9%	3.6%	3.5%	3.3%	3.0%	2.4%	3.3%	3.3%
Enterprise value	$9.1B	$11.3B	$9.1B	$8.3B	$9.2B	$9.7B	$8.4B	$6.9B
Net debt / EBITDA	1.36×	1.1×	1.45×	1.77×	1.91×	1.66×	1.76×	2.16×
Cash conversion cycle (days)	105	94	101	103	103	97	108	119