Columbia Sportswear Company (COLM) 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

+38.5%

$98.50

vs $71.12 price

Levered DCF

$108.87

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

3.98

Safe zone

Rating

Overall 4 / 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	17×	21.91×	19.35×	17.66×	18.15×	53.61×	20.57×	21.84×
P/B	1.76×	2.75×	2.51×	2.84×	3.23×	3.16×	3.67×	3.5×
P/S	0.89×	1.45×	1.4×	1.59×	2.06×	2.32×	2.23×	2.09×
EV / EBITDA	10.64×	13.59×	10.66×	9.96×	10.66×	16.47×	12.67×	12.93×
Gross margin	50.2%	50.2%	49.6%	49.4%	51.6%	48.9%	49.8%	49.5%
Operating margin	6.0%	8.0%	8.9%	11.3%	14.4%	5.5%	13.0%	12.5%
Net margin	5.2%	6.6%	7.2%	9.0%	11.3%	4.3%	10.9%	9.6%
Current ratio	2.59×	2.62×	3.38×	2.89×	3.11×	3.36×	2.97×	3.08×
Debt / equity	0.28×	0.25×	0.21×	0.2×	0.19×	0.23×	0.24×	0×
Interest coverage	0×	0×	0×	0×	0×	0×	0×	0×
Dividend yield	2.2%	1.4%	1.5%	1.4%	1.1%	0.3%	1.0%	1.1%
Payout ratio	37.0%	31.2%	29.2%	24.1%	19.4%	15.9%	19.7%	23.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	10.4%	12.5%	13.0%	16.1%	17.8%	5.9%	17.9%	16.0%
Return on invested capital	7.0%	8.9%	9.9%	12.9%	13.8%	4.5%	13.6%	14.9%
Return on assets	6.1%	7.5%	8.6%	10.2%	11.2%	3.8%	11.3%	11.3%
Free cash flow yield	7.2%	8.8%	11.9%	-1.5%	5.0%	4.3%	2.4%	3.8%
Earnings yield	5.9%	4.6%	5.2%	5.7%	5.5%	1.9%	4.9%	4.6%
Enterprise value	$3B	$4.8B	$4.9B	$5.4B	$6B	$5.4B	$6.5B	$5.4B
Net debt / EBITDA	0.12×	-0.23×	0.12×	-0.09×	-0.67×	-1.13×	-0.48×	-1.05×
Cash conversion cycle (days)	109	112	150	205	144	166	142	122