Comtech Telecommunications Corp. (CMTL) 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

-2208.3%

-$26.14

vs $1.24 price

Levered DCF

-$12.51

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

0.26

Distress zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	-0.73×	-0.31×	-0.69×	-10.58×	-9.13×	-8.73×	58.64×	28.62×
P/B	0.19×	0.22×	0.19×	0.52×	0.53×	1.28×	0.74×	1.34×
P/S	0.2×	0.13×	0.17×	0.52×	0.62×	1.1×	0.66×	1.07×
EV / EBITDA	8.2×	-3.61×	-6.2×	25.75×	-1,388.88×	-22.77×	11.39×	12.25×
Gross margin	38.9%	25.6%	29.1%	33.5%	37.0%	36.8%	36.8%	36.8%
Operating margin	-7.3%	-27.8%	-14.8%	-2.7%	-6.9%	-11.7%	2.5%	6.2%
Net margin	-14.5%	-31.1%	-18.5%	-4.9%	-6.8%	-12.6%	1.1%	3.7%
Current ratio	0.84×	1.71×	1.83×	1.44×	1.36×	1.41×	1.73×	1.93×
Debt / equity	0.84×	0.85×	0.44×	0.39×	0.32×	0.5×	0.33×	0.31×
Interest coverage	-0.85×	-3.04×	-3.5×	-0.91×	-6.71×	-10.01×	2.51×	4.46×
Dividend yield	0.1%	0.2%	0.3%	3.0%	3.7%	1.6%	2.5%	1.4%
Payout ratio	-0.1%	-0.1%	-0.3%	-32.2%	-33.4%	-14.1%	142.7%	39.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-13.9%	-52.8%	-20.6%	-4.9%	-5.8%	-14.7%	1.3%	4.7%
Return on invested capital	-3.4%	-23.4%	-10.8%	-1.6%	-3.8%	-8.4%	1.5%	4.8%
Return on assets	-5.2%	-21.0%	-11.0%	-2.7%	-3.4%	-7.4%	0.8%	2.8%
Free cash flow yield	44.3%	-26.4%	-72.4%	-8.0%	-5.8%	-8.8%	11.2%	8.3%
Earnings yield	-72.1%	-243.4%	-107.2%	-9.5%	-10.9%	-11.5%	1.7%	3.5%
Enterprise value	$233.1M	$274.5M	$273.5M	$480.4M	$463.9M	$859.9M	$541.2M	$838.1M
Net debt / EBITDA	6.43×	-2.77×	-4.08×	10.5×	-483.4×	-5.79×	2.82×	1.76×
Cash conversion cycle (days)	75	148	180	150	154	143	130	122