Canterbury Park Holding Corporation (CPHC) 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

+15.7%

$18.07

vs $15.61 price

Levered DCF

$16.34

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.78

Grey zone

Rating

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	-154×	48.81×	9.5×	20.17×	7×	52.04×	21.02×	10.87×
P/B	0.93×	1.22×	1.23×	2.13×	1.28×	1.1×	1.15×	1.33×
P/S	1.31×	1.66×	1.64×	2.27×	1.37×	1.7×	0.96×	1.05×
EV / EBITDA	19.6×	11.05×	9.46×	9.9×	3.47×	55.22×	8.92×	7.25×
Gross margin	28.7%	78.8%	79.4%	79.2%	79.2%	77.0%	77.3%	77.6%
Operating margin	4.2%	10.4%	18.7%	16.3%	29.4%	1.9%	6.1%	12.9%
Net margin	-0.9%	3.4%	17.2%	11.2%	19.5%	3.2%	4.6%	9.7%
Current ratio	2.6×	2.29×	3.28×	2.94×	2.49×	0.94×	0.35×	1.21×
Debt / equity	0×	0×	0×	0×	0×	0×	0×	0×
Interest coverage	0×	0×	0×	0×	0×	0×	0×	0×
Dividend yield	1.8%	1.4%	1.4%	0.9%	0.0%	0.6%	2.2%	1.9%
Payout ratio	-269.4%	66.5%	13.1%	18.1%	0.0%	30.9%	47.1%	21.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-0.6%	2.5%	12.9%	10.6%	18.3%	2.1%	5.5%	12.2%
Return on invested capital	1.6%	4.5%	8.7%	9.8%	18.1%	-6.0%	4.6%	11.2%
Return on assets	-0.5%	1.9%	10.1%	8.1%	14.2%	1.5%	4.2%	9.3%
Free cash flow yield	6.0%	-5.3%	3.6%	4.1%	11.8%	-0.7%	-14.8%	1.3%
Earnings yield	-0.7%	2.1%	10.5%	5.0%	14.3%	1.9%	4.8%	9.2%
Enterprise value	$62.4M	$92.5M	$78.7M	$138.8M	$70.7M	$56.3M	$56.8M	$57.6M
Net debt / EBITDA	-4.93×	-1.18×	-2.63×	-0.93×	-0.58×	0.11×	-0.03×	-0.6×
Cash conversion cycle (days)	0	-74	-99	-34	-12	-129	-82	-80