Collegium Pharmaceutical, Inc. (COLL) 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

+2688.6%

$660.35

vs $23.68 price

Levered DCF

$879.68

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.95

Distress 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	23.38×	13.39×	19.24×	-31.35×	9.11×	25.68×	-85.75×	-14.43×
P/B	4.87×	4.04×	5.31×	4.03×	3.22×	3.7×	7.87×	6.16×
P/S	1.88×	1.46×	1.83×	1.69×	2.36×	2.22×	2.32×	2.01×
EV / EBITDA	5.38×	5.01×	4.78×	7.62×	8.38×	6.62×	-85.32×	4.67×
Gross margin	59.3%	59.8%	57.5%	45.2%	54.4%	58.0%	34.7%	40.9%
Operating margin	24.0%	26.9%	29.5%	7.2%	6.4%	18.1%	-8.0%	-7.4%
Net margin	8.1%	11.0%	8.5%	-5.4%	25.8%	8.6%	-7.7%	-14.0%
Current ratio	1.57×	0.95×	1.17×	0.97×	1.13×	1.16×	1.27×	1.27×
Debt / equity	3.12×	3.75×	3.45×	3.64×	1.28×	1.43×	0.25×	0.13×
Interest coverage	2.27×	2.3×	2×	0.53×	0.84×	1.95×	-26.13×	-1.03×
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	20.8%	30.2%	24.6%	-12.8%	35.2%	14.4%	-26.0%	-42.7%
Return on invested capital	10.2%	9.8%	12.2%	3.2%	-80.9%	12.0%	-21.8%	-19.6%
Return on assets	3.8%	4.2%	4.2%	-2.1%	10.3%	4.2%	-7.4%	-13.4%
Free cash flow yield	22.3%	22.0%	26.4%	15.6%	15.6%	-40.6%	3.1%	25.7%
Earnings yield	4.3%	7.5%	4.6%	-3.2%	11.0%	3.9%	-3.3%	-6.9%
Enterprise value	$2.2B	$1.7B	$1.5B	$1.3B	$724.9M	$781.7M	$540.1M	$429.4M
Net debt / EBITDA	1.72×	2.31×	1.41×	3.09×	0.84×	0.78×	23.45×	-1.47×
Cash conversion cycle (days)	134	178	151	206	178	114	96	92