Balchem Corp (BCPC) 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

-15.2%

$148.09

vs $174.60 price

Levered DCF

$143.50

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

11.15

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	31.95×	41.06×	44.01×	37.12×	56.58×	43.81×	40.98×	32.11×
P/B	3.98×	4.58×	4.53×	4.17×	6.19×	4.48×	4.39×	3.65×
P/S	4.82×	5.53×	5.18×	4.15×	6.8×	5.27×	5.07×	3.93×
EV / EBITDA	20.07×	23.51×	23.47×	21.97×	30.85×	23.4×	23.31×	17.38×
Gross margin	35.7%	35.3%	32.7%	29.8%	30.4%	31.8%	32.8%	31.7%
Operating margin	21.1%	19.2%	17.3%	15.4%	16.0%	15.8%	15.9%	16.6%
Net margin	14.9%	13.5%	11.8%	11.2%	12.0%	12.0%	12.4%	12.2%
Current ratio	2.07×	1.99×	2.12×	2.4×	2.24×	2.83×	2.76×	2.76×
Debt / equity	0.15×	0.18×	0.31×	0.49×	0.13×	0.21×	0.34×	0.23×
Interest coverage	21.37×	11.07×	7.04×	14.14×	51.91×	25.04×	17.21×	14.07×
Dividend yield	0.6%	0.5%	0.5%	0.5%	0.3%	0.5%	0.5%	0.5%
Payout ratio	18.3%	19.9%	21.1%	19.7%	19.5%	19.7%	19.0%	17.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	12.3%	11.2%	10.3%	11.2%	11.0%	10.2%	10.7%	11.4%
Return on invested capital	11.1%	9.9%	8.7%	7.7%	9.2%	8.2%	7.9%	9.4%
Return on assets	9.1%	8.2%	6.8%	6.5%	8.0%	7.3%	6.9%	8.0%
Free cash flow yield	3.5%	2.8%	3.1%	2.3%	2.3%	3.1%	2.9%	3.9%
Earnings yield	3.1%	2.4%	2.3%	2.7%	1.8%	2.3%	2.4%	3.1%
Enterprise value	$5.1B	$5.4B	$5B	$4.3B	$5.4B	$3.8B	$3.5B	$2.6B
Net debt / EBITDA	0.46×	0.69×	1.24×	2.01×	0.08×	0.54×	1.28×	0.67×
Cash conversion cycle (days)	89	91	81	85	76	87	92	84