Conduent Incorporated (CNDT) 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

+799.1%

$14.03

vs $1.56 price

Levered DCF

-$7.15

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

-0.33

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	FY2018
P/E	-1.68×	1.77×	-2.59×	-4.55×	-29.67×	-8.57×	-0.67×	-5.26×
P/B	0.35×	0.75×	1.26×	0.95×	1×	0.85×	1×	0.68×
P/S	0.09×	0.22×	0.21×	0.23×	0.27×	0.24×	0.29×	0.41×
EV / EBITDA	10.91×	7.74×	5.05×	9.74×	6.25×	4.89×	5.38×	16.96×
Gross margin	18.1%	18.7%	22.4%	21.8%	24.2%	22.9%	21.8%	22.5%
Operating margin	-1.9%	4.9%	9.9%	4.2%	2.5%	11.7%	10.9%	3.3%
Net margin	-5.6%	12.7%	-8.0%	-4.7%	-0.7%	-2.8%	-43.3%	-7.7%
Current ratio	1.57×	1.68×	1.91×	1.76×	1.64×	1.44×	1.35×	1.64×
Debt / equity	1.02×	0.85×	2.37×	1.67×	1.47×	1.51×	1.41×	0.49×
Interest coverage	-1.21×	2.2×	3.32×	1.94×	1.85×	8.08×	6.23×	1.61×
Dividend yield	3.5%	1.4%	1.3%	1.1%	0.9%	1.0%	0.8%	0.5%
Payout ratio	-5.9%	2.3%	-3.4%	-5.5%	-35.7%	-8.5%	-0.5%	-2.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-20.6%	43.4%	-47.1%	-19.8%	-2.5%	-9.9%	-148.8%	-12.9%
Return on invested capital	-3.2%	7.2%	13.8%	5.9%	3.3%	12.3%	14.0%	3.3%
Return on assets	-7.1%	16.4%	-9.4%	-5.1%	-0.7%	-2.8%	-42.8%	-6.2%
Free cash flow yield	-53.8%	-14.4%	-0.5%	-1.0%	14.3%	2.2%	-6.4%	2.7%
Earnings yield	-59.4%	57.8%	-37.4%	-20.8%	-2.5%	-11.7%	-149.0%	-19.0%
Enterprise value	$894.3M	$1.2B	$1.8B	$1.8B	$2.4B	$2.4B	$2.6B	$3B
Net debt / EBITDA	7.41×	2.99×	2.81×	5.06×	3.28×	2.8×	2.73×	4.58×
Cash conversion cycle (days)	56	55	55	53	57	62	54	51