Camden National Corp. (CAC) 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

+94.9%

$114.83

vs $58.93 price

Levered DCF

$150.95

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

-0.46

Distress zone

Rating

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	11.27×	11.77×	12.63×	9.97×	10.42×	9.04×	12.45×	10.55×
P/B	1.05×	1.17×	1.11×	1.35×	1.33×	1.01×	1.5×	1.29×
P/S	1.99×	2.15×	2.19×	2.92×	3.7×	2.63×	3.43×	3.01×
EV / EBITDA	13.77×	13.75×	16.92×	10.41×	8.28×	8.07×	12.76×	11.88×
Gross margin	62.8%	59.4%	62.3%	85.8%	95.9%	83.7%	78.9%	82.9%
Operating margin	22.2%	22.6%	21.5%	36.9%	44.7%	36.5%	34.6%	35.3%
Net margin	17.7%	18.3%	17.3%	29.4%	35.6%	29.2%	27.6%	28.5%
Current ratio	1.77×	0.15×	0.14×	0.15×	0.35×	0.29×	0.26×	0.26×
Debt / equity	0.92×	1.03×	1.07×	0.69×	0.47×	0.47×	0.71×	0.78×
Interest coverage	0.7×	0.56×	0.57×	3.07×	7.84×	3.56×	1.75×	2.12×
Dividend yield	3.9%	3.9%	4.5%	3.9%	2.9%	3.7%	2.6%	3.1%
Payout ratio	43.7%	46.3%	56.6%	38.3%	30.5%	33.4%	32.5%	32.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.4%	10.0%	8.8%	13.6%	12.7%	11.2%	12.1%	12.2%
Return on invested capital	5.5%	4.5%	4.2%	8.1%	8.7%	7.7%	7.1%	6.8%
Return on assets	0.9%	0.9%	0.8%	1.1%	1.3%	1.2%	1.3%	1.2%
Free cash flow yield	8.0%	8.9%	11.8%	16.9%	19.6%	2.9%	4.0%	10.6%
Earnings yield	8.9%	8.5%	7.9%	10.1%	9.6%	11.1%	8.1%	9.5%
Enterprise value	$1.3B	$953.1M	$978.1M	$844.6M	$753.1M	$637.2M	$971.9M	$834.6M
Net debt / EBITDA	5.9×	4.76×	7.44×	2.88×	0.39×	1.28×	3.44×	3.91×
Cash conversion cycle (days)	18	0	-357	-1,038	-4,377	-1,287	-671	-638