Birchtech Corp. (BCHT) 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

-169.7%

-$0.79

vs $1.13 price

Levered DCF

$1.73

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

-3.39

Distress zone

Rating

C+

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	-23.44×	-4.47×	16.17×	-13×	-14.05×	-8.65×	-2.37×	-3.75×
P/B	-42.24×	40.78×	1,513.51×	-2.77×	-4.95×	-3.77×	-1.64×	-2.12×
P/S	4.11×	2.79×	5.18×	0.95×	3.89×	6.1×	1.27×	1.49×
EV / EBITDA	-27.58×	-4.3×	10.52×	51.61×	-547.17×	-25.79×	-11.11×	-15.17×
Gross margin	40.9%	40.8%	30.9%	32.5%	39.0%	33.3%	27.0%	25.6%
Operating margin	-16.9%	-40.9%	-49.7%	4.2%	-6.6%	-39.4%	-29.3%	-22.3%
Net margin	-17.2%	-62.1%	32.2%	-7.3%	-27.9%	-71.4%	-53.4%	-39.2%
Current ratio	0.47×	0.69×	11.45×	1.72×	0.24×	0.7×	0.92×	1.05×
Debt / equity	-0.15×	0.26×	186.07×	-1.34×	-1.22×	-1.17×	-1.6×	-1.62×
Interest coverage	-217.97×	-26.6×	-6.43×	0.58×	-0.31×	-1.21×	-1.4×	-1.37×
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	176.5%	-906.3%	9391.8%	21.3%	35.5%	44.1%	68.7%	55.9%
Return on invested capital	205.3%	-462.6%	-30.9%	14.7%	-16.8%	-71.7%	-48.9%	-51.2%
Return on assets	-32.8%	-105.3%	20.0%	-16.9%	-44.7%	-79.0%	-65.8%	-59.9%
Free cash flow yield	-1.0%	-10.1%	21.0%	0.3%	0.4%	-2.5%	-10.8%	-6.6%
Earnings yield	-4.2%	-22.2%	6.2%	-7.7%	-7.2%	-11.7%	-41.9%	-26.4%
Enterprise value	$70.5M	$45.4M	$81.6M	$29M	$61.8M	$64.6M	$27.2M	$31.7M
Net debt / EBITDA	0.78×	0.3×	-1.25×	15.01×	-98.73×	-5.91×	-5.18×	-6.42×
Cash conversion cycle (days)	-67	-0	41	-2	-26	-21	-12	-5