Bowman Consulting Group Ltd. (BWMN) 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

+2.7%

$44.06

vs $42.89 price

Levered DCF

$48.28

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.05

Grey 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
P/E	44.62×	138.61×	-67.02×	56.03×	1,002.12×	150.05×	93.33×
P/B	2.08×	1.6×	2.72×	1.94×	3.11×	8.18×	-5.69×
P/S	1.11×	0.92×	1.28×	0.91×	1.63×	1.15×	1.17×
EV / EBITDA	17.51×	20.67×	31.93×	17.68×	39.24×	39.31×	39.47×
Gross margin	47.7%	52.2%	50.8%	51.6%	50.3%	45.5%	48.5%
Operating margin	3.9%	-0.5%	-0.2%	2.0%	0.1%	1.5%	2.6%
Net margin	2.5%	0.7%	-1.9%	1.9%	0.2%	0.8%	1.3%
Current ratio	0.99×	1.31×	1.22×	1.48×	2.26×	1.5×	1.32×
Debt / equity	0.56×	0.61×	0.86×	0.66×	0.36×	1.1×	-0.55×
Interest coverage	0×	-0.25×	-0.12×	1.59×	0.17×	3.12×	4.97×
Dividend yield	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%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	4.7%	1.1%	-4.1%	4.1%	0.4%	5.8%	-6.6%
Return on invested capital	4.6%	0.2%	-0.2%	2.4%	-0.0%	1.9%	4.0%
Return on assets	2.1%	0.6%	-1.6%	2.0%	0.2%	1.6%	2.3%
Free cash flow yield	6.2%	6.0%	2.2%	3.5%	1.6%	7.0%	3.7%
Earnings yield	2.3%	0.7%	-1.5%	2.1%	0.1%	0.7%	1.2%
Enterprise value	$677.8M	$536.8M	$563.7M	$305.7M	$251.5M	$158.8M	$144.7M
Net debt / EBITDA	3.51×	5.54×	6.8×	3.92×	1.15×	4.58×	3.33×
Cash conversion cycle (days)	52	36	35	114	119	97	129