Cingulate Inc. (CING) 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

-99.0%

$0.05

vs $5.03 price

Levered DCF

$0.40

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

-3.41

Distress zone

Rating

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	-1.05×	-0.48×	-0.29×	-7.69×	-11.87×	-84.09×	-4.4×
P/B	9.4×	2.52×	-30.24×	87.4×	44.93×	1,168.17×	2,451.43×
P/S	0×	0×	0×	0×	0×	0×	0×
EV / EBITDA	-1.1×	-0.78×	-9.52×	-19.86×	-46.12×	-235.4×	-131.79×
Gross margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Operating margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Net margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Current ratio	1.16×	2.55×	0.06×	1.12×	16.05×	0.53×	0.33×
Debt / equity	3.5×	0.68×	-0.51×	1.51×	0.06×	1.58×	3.39×
Interest coverage	-21.57×	0×	0×	-100.58×	-619.01×	-129.72×	0×
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	-894.8%	-222.1%	342.6%	-455.3%	-99.4%	-555.8%	-1874.8%
Return on invested capital	-176.5%	-124.6%	677.5%	-179.5%	-93.9%	-210.6%	-430.5%
Return on assets	-148.9%	-111.4%	-674.1%	-155.0%	-90.5%	-124.1%	-218.6%
Free cash flow yield	-73.8%	-99.3%	-7.3%	-4.7%	-1.2%	-0.5%	-0.7%
Earnings yield	-95.2%	-88.1%	-11.3%	-5.2%	-2.2%	-0.5%	-0.8%
Enterprise value	$21.4M	$11.7M	$211.2M	$339.8M	$921.1M	$1.5B	$1.5B
Net debt / EBITDA	0.11×	0.47×	-0.16×	-0.03×	0.77×	-0.13×	-0.15×
Cash conversion cycle (days)	0	0	0	0	0	-423	-3,868