Carter Bankshares, Inc. (CARE) 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

-72.5%

$7.99

vs $29.00 price

Levered DCF

$18.51

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.61

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	14.04×	16.59×	14.97×	8.17×	12.83×	-6.16×	23.49×	33.1×
P/B	1.05×	1.06×	0.99×	1.24×	0.99×	0.64×	1.32×	0.9×
P/S	1.73×	1.71×	1.64×	2.28×	2.59×	1.73×	3.71×	2.48×
EV / EBITDA	10.76×	9.17×	19.64×	8.26×	3.21×	-1.95×	15.36×	5.42×
Gross margin	61.7%	57.3%	62.0%	87.1%	84.1%	67.1%	70.2%	65.2%
Operating margin	15.7%	12.9%	13.6%	34.4%	22.8%	-27.5%	16.5%	9.1%
Net margin	12.3%	10.2%	11.0%	28.0%	20.2%	-28.0%	15.8%	7.5%
Current ratio	0.12×	0.2×	0.22×	0.24×	0.32×	0.28×	0.25×	0.3×
Debt / equity	0.43×	0.18×	1.12×	0.6×	0.02×	0.08×	0.02×	0×
Interest coverage	0.39×	0.29×	0.39×	3.05×	1.57×	-1.26×	0.59×	0.38×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	1.3%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	-8.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	7.5%	6.4%	6.7%	15.3%	7.8%	-10.4%	5.6%	2.7%
Return on invested capital	4.9%	4.8%	3.0%	8.8%	7.3%	-9.1%	5.3%	2.7%
Return on assets	0.6%	0.5%	0.5%	1.2%	0.8%	-1.1%	0.7%	0.3%
Free cash flow yield	7.2%	7.0%	10.6%	15.9%	17.0%	-0.9%	4.8%	8.9%
Earnings yield	7.1%	6.0%	6.7%	12.3%	7.8%	-16.2%	4.3%	3.0%
Enterprise value	$514.8M	$347.6M	$686.8M	$559.6M	$134.6M	$75.9M	$508.6M	$97.5M
Net debt / EBITDA	1.53×	-1.61×	9.69×	2.24×	-6.46×	5.31×	-3.5×	-16.32×
Cash conversion cycle (days)	0	97	102	0	0	0	0	0