BioRem Inc. (BRM.V) 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

-31.6%

CA$2.55

vs CA$3.73 price

Levered DCF

CA$5.25

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

5.09

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	9×	16.05×	7.14×	8.8×	24.93×	10×	-11.87×	3.17×
P/B	2.9×	4.53×	2.33×	3.01×	16.46×	1.54×	1.32×	1.14×
P/S	1.02×	1.28×	0.62×	0.47×	1.32×	0.86×	0.75×	0.6×
EV / EBITDA	4.91×	9.64×	5.1×	4.88×	12.52×	4.18×	-11.17×	6.06×
Gross margin	29.7%	26.9%	27.9%	30.4%	25.5%	28.8%	23.6%	26.2%
Operating margin	15.5%	11.6%	12.2%	9.1%	8.5%	11.2%	-5.0%	7.1%
Net margin	11.4%	8.1%	8.7%	5.6%	5.3%	8.6%	-6.3%	19.2%
Current ratio	1.85×	1.63×	1.48×	1.38×	1.22×	2.34×	2.45×	2.19×
Debt / equity	0.19×	0.33×	0.62×	1.05×	2.88×	0.06×	0.01×	0×
Interest coverage	40.59×	22.22×	11.2×	10.27×	57.73×	62.2×	-308.04×	339.15×
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	32.3%	28.6%	32.4%	35.7%	66.0%	15.4%	-11.1%	36.2%
Return on invested capital	28.2%	22.5%	21.9%	19.3%	17.3%	14.8%	-8.7%	13.3%
Return on assets	14.3%	10.7%	9.1%	7.8%	6.8%	9.5%	-7.4%	22.2%
Free cash flow yield	16.8%	6.9%	-0.4%	9.1%	11.5%	14.3%	15.5%	-1.6%
Earnings yield	11.1%	6.3%	13.9%	11.8%	4.0%	10.0%	-8.4%	31.8%
Enterprise value	CA$34.6M	CA$46.4M	CA$17.6M	CA$14.6M	CA$33.5M	CA$12.8M	CA$9.1M	CA$10.7M
Net debt / EBITDA	-1.23×	-0.34×	0.55×	0.32×	0.45×	-2.62×	7.83×	-2.23×
Cash conversion cycle (days)	50	130	113	85	68	96	76	128