AMREP Corporation (AXR) 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

+68.7%

$34.92

vs $20.70 price

Levered DCF

$41.98

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

16.56

Safe zone

Rating

A-

Overall 4 / 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	14.27×	9.44×	16.1×	3.39×	5.82×	11.26×	-6.63×	29.37×
P/B	1.04×	0.92×	0.91×	0.67×	1.11×	0.93×	0.47×	0.5×
P/S	2.78×	2.41×	2.09×	1.52×	1.48×	2.07×	2.1×	3.52×
EV / EBITDA	6.55×	6.51×	10.04×	7.02×	3.6×	6.41×	-3.47×	-13.08×
Gross margin	58.7%	66.2%	28.2%	38.8%	42.7%	36.1%	26.6%	16.0%
Operating margin	23.4%	24.4%	14.8%	27.6%	34.1%	22.6%	-15.5%	-24.5%
Net margin	19.5%	25.6%	13.0%	44.8%	25.4%	18.4%	-31.4%	11.9%
Current ratio	6,586.13×	28.3×	20.48×	18.13×	8.58×	17.74×	23.02×	24.67×
Debt / equity	0×	0×	0×	0×	0.02×	0.04×	0.05×	0.01×
Interest coverage	0×	0×	0×	0×	0×	226.18×	0×	-125.92×
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	7.3%	9.8%	5.7%	19.6%	19.1%	8.3%	-7.0%	1.7%
Return on invested capital	6.1%	8.6%	5.1%	12.1%	18.4%	7.2%	-2.4%	-2.5%
Return on assets	7.0%	9.5%	5.4%	18.8%	16.7%	7.6%	-6.1%	1.5%
Free cash flow yield	8.7%	8.1%	9.5%	8.5%	15.4%	15.2%	1.9%	1.3%
Earnings yield	7.0%	10.6%	6.2%	29.4%	17.2%	8.9%	-15.0%	3.4%
Enterprise value	$94.5M	$80M	$77.8M	$54.1M	$78.5M	$61.5M	$25.8M	$33.2M
Net debt / EBITDA	-3.64×	-3.25×	-3.83×	-2.59×	-0.63×	-2.22×	1.83×	4.7×
Cash conversion cycle (days)	1,110	1,423	632	782	655	-19	1,389	1,885