Sierra Bancorp (BSRR) 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

+5.5%

$45.01

vs $42.66 price

Levered DCF

$53.33

After debt service

Piotroski score

9 / 9

Strong

Altman Z-score

-0.37

Distress 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	10.41×	10.18×	9.51×	9.44×	9.63×	10.27×	12.39×	12.39×
P/B	1.21×	1.16×	0.98×	1.05×	1.14×	1.06×	1.44×	1.34×
P/S	2.18×	2.16×	1.96×	2.23×	3.15×	2.87×	3.54×	3.14×
EV / EBITDA	13.96×	10.34×	16.21×	13.49×	5.66×	10.07×	8.62×	9.13×
Gross margin	73.9%	70.1%	67.8%	84.0%	99.7%	89.0%	87.2%	88.3%
Operating margin	27.9%	28.2%	27.5%	31.5%	43.5%	36.6%	37.9%	33.9%
Net margin	21.0%	21.2%	20.6%	23.6%	32.7%	27.9%	28.6%	25.4%
Current ratio	0.19×	0.26×	0.36×	0.32×	0.43×	0.22×	0.31×	0.29×
Debt / equity	1.42×	0.77×	1.63×	1.36×	0.53×	0.63×	0.26×	0.39×
Interest coverage	1.21×	1.03×	0.92×	3.68×	14.12×	8.6×	3.51×	4.28×
Dividend yield	3.1%	3.3%	4.1%	4.4%	3.2%	3.4%	2.5%	2.7%
Payout ratio	32.4%	33.6%	39.4%	41.4%	30.8%	34.4%	31.5%	32.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.6%	11.4%	10.3%	11.1%	11.9%	10.3%	11.6%	10.9%
Return on invested capital	4.4%	5.6%	3.6%	4.4%	7.3%	5.9%	8.5%	7.3%
Return on assets	1.1%	1.1%	0.9%	0.9%	1.3%	1.1%	1.4%	1.2%
Free cash flow yield	7.3%	13.6%	15.6%	10.2%	12.6%	10.2%	10.3%	7.5%
Earnings yield	9.6%	9.8%	10.5%	10.6%	10.4%	9.7%	8.1%	8.1%
Enterprise value	$824.5M	$586.5M	$805.6M	$653.4M	$347.7M	$509.7M	$446.4M	$399.8M
Net debt / EBITDA	6.49×	3.06×	9.54×	6.93×	-1.08×	2.88×	0.01×	0.76×
Cash conversion cycle (days)	26	31	44	47	31	46	24	27