Avnet, Inc. (AVT) 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

-48.0%

$45.70

vs $87.82 price

Levered DCF

-$51.93

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

3.13

Safe zone

Rating

Overall 3 / 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	FY2019
P/E	21.22×	19.09×	9.34×	6.03×	6.02×	20.53×	-89.79×	28.12×
P/B	1.41×	0.91×	0.95×	0.98×	0.99×	0.97×	0.7×	1.2×
P/S	0.26×	0.21×	0.2×	0.17×	0.17×	0.2×	0.15×	0.25×
EV / EBITDA	12.18×	11.6×	7.14×	5.56×	5.4×	11.72×	16.4×	11.13×
Gross margin	10.4%	10.7%	11.6%	12.0%	12.2%	11.5%	11.7%	12.7%
Operating margin	3.1%	2.8%	3.6%	4.5%	3.9%	1.4%	-0.0%	1.9%
Net margin	1.2%	1.1%	2.1%	2.9%	2.8%	1.0%	-0.2%	0.9%
Current ratio	1.78×	2.43×	2.32×	2.53×	2.09×	2.34×	2.78×	2.67×
Debt / equity	0.69×	0.57×	0.65×	0.69×	0.44×	0.37×	0.46×	0.42×
Interest coverage	3.4×	2.49×	2.99×	4.73×	9.36×	3.15×	-0.04×	2.71×
Dividend yield	1.6%	2.5%	2.4%	2.3%	2.4%	2.1%	3.2%	1.8%
Payout ratio	34.2%	47.2%	22.5%	13.8%	14.2%	43.7%	-270.2%	49.4%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	6.7%	4.8%	10.1%	16.2%	16.5%	4.7%	-0.8%	4.3%
Return on invested capital	7.1%	7.3%	8.0%	11.1%	12.3%	4.7%	-0.0%	4.3%
Return on assets	2.2%	2.0%	4.1%	6.2%	6.7%	2.2%	-0.4%	2.1%
Free cash flow yield	-5.0%	12.6%	9.9%	-19.6%	-6.4%	1.0%	25.1%	8.3%
Earnings yield	4.7%	5.2%	10.7%	16.6%	16.6%	4.9%	-1.2%	3.5%
Enterprise value	$10.4B	$7.3B	$7.5B	$7.7B	$5.9B	$5.3B	$3.9B	$6.1B
Net debt / EBITDA	3.88×	4.29×	2.72×	2.19×	1.57×	2.91×	5.32×	2.13×
Cash conversion cycle (days)	91	103	104	98	78	84	84	84