Celestica Inc. (CLS) 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

-111.6%

-$29.50

vs $255.12 price

Levered DCF

$67.39

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

4.28

Safe zone

Rating

B+

Overall 3 / 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	40.22×	25.5×	14.35×	7.72×	13.57×	17.17×	15.31×	12.35×
P/B	15.41×	5.75×	1.99×	0.83×	0.96×	0.74×	0.8×	0.92×
P/S	2.75×	1.13×	0.44×	0.19×	0.25×	0.18×	0.18×	0.18×
EV / EBITDA	28.4×	15.31×	7.62×	4.43×	6.19×	4.67×	4.62×	8×
Gross margin	12.1%	10.7%	9.5%	9.0%	8.6%	7.6%	6.5%	6.5%
Operating margin	8.6%	6.2%	4.2%	4.0%	3.0%	2.2%	2.5%	1.6%
Net margin	6.7%	4.4%	3.1%	2.5%	1.8%	1.1%	1.2%	1.5%
Current ratio	1.44×	1.49×	1.4×	1.42×	1.52×	1.73×	1.75×	1.74×
Debt / equity	0.41×	0.42×	0.44×	0.47×	0.55×	0.43×	0.52×	0.57×
Interest coverage	20×	11.5×	4.29×	5.6×	5.34×	3.39×	2.95×	4.36×
Dividend yield	0.0%	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%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	37.6%	22.6%	13.8%	10.7%	7.1%	4.3%	5.2%	7.4%
Return on invested capital	27.3%	16.1%	9.9%	8.3%	5.2%	3.9%	4.7%	4.8%
Return on assets	11.6%	7.1%	4.1%	3.2%	2.2%	1.7%	2.0%	2.6%
Free cash flow yield	1.3%	2.8%	5.7%	7.3%	12.4%	17.9%	24.4%	-4.0%
Earnings yield	2.4%	3.9%	7.0%	12.9%	7.4%	5.8%	6.5%	8.1%
Enterprise value	$34.4B	$11.3B	$3.9B	$1.8B	$1.8B	$1.2B	$1.3B	$1.6B
Net debt / EBITDA	0.26×	0.51×	0.8×	1.01×	1.39×	0.55×	0.81×	1.74×
Cash conversion cycle (days)	88	98	123	120	114	86	72	64