Black Hawk Acquisition Corporation (BKHA) 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

—

Levered DCF

—

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

2.04

Grey zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023
P/E	58.95×	49.33×	-4,823.81×
P/B	2.8×	1.33×	14,715.44×
P/S	0×	0×	0×
EV / EBITDA	-61.81×	-160.13×	0×
Gross margin	0.0%	0.0%	0.0%
Operating margin	0.0%	0.0%	0.0%
Net margin	0.0%	0.0%	0.0%
Current ratio	0.03×	4.42×	0.61×
Debt / equity	0.03×	0×	40.67×
Interest coverage	-59.24×	0×	0×
Dividend yield	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023
Return on equity	6.7%	2.8%	-1840.2%
Return on invested capital	-4.0%	-0.8%	-44.2%
Return on assets	5.6%	2.7%	-43.0%
Free cash flow yield	-1.2%	-0.6%	-0.0%
Earnings yield	2.4%	2.1%	-0.1%
Enterprise value	$56.6M	$92.2M	$90.6M
Net debt / EBITDA	-0.61×	0.46×	0×
Cash conversion cycle (days)	0	0	0