City Therapeutics Inc. (CTY) 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

—

Levered DCF

—

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.65

Distress zone

Rating

—

Ratios by fiscal year

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

Metric	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012
P/E	0×	0×	0×	0×	0×	0×	0×	0×
P/B	0×	0×	0×	0×	0×	0×	0×	0×
P/S	0×	0×	0×	0×	0×	0×	0×	0×
EV / EBITDA	1.55×	1.47×	1.9×	1.85×	1.79×	1.83×	1.84×	1.88×
Gross margin	70.1%	67.4%	66.3%	67.1%	68.0%	67.4%	68.1%	67.6%
Operating margin	35.4%	31.3%	27.1%	26.1%	25.2%	23.9%	23.7%	21.5%
Net margin	22.4%	19.6%	19.4%	12.2%	12.0%	11.0%	11.0%	9.6%
Current ratio	0.73×	0.81×	0.81×	0.61×	0.66×	0.82×	0.65×	0.56×
Debt / equity	0.59×	0.6×	0.78×	0.84×	0.81×	0.8×	0.79×	0.76×
Interest coverage	0×	5.94×	4.97×	4.86×	4.78×	4.55×	4.62×	4.3×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	87.6%	76.6%	60.4%	119.8%	125.7%	144.3%	137.4%	135.5%

Key metrics by fiscal year

Metric	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012
Return on equity	18.1%	16.9%	17.7%	12.5%	12.1%	10.6%	10.0%	8.5%
Return on invested capital	11.4%	11.2%	11.4%	7.6%	7.3%	6.3%	9.2%	7.9%
Return on assets	8.7%	8.1%	7.9%	5.1%	5.0%	4.3%	6.0%	5.1%
Free cash flow yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Enterprise value	$5.9B	$6B	$7.3B	$7.3B	$7.2B	$7.4B	$7.5B	$7.6B
Net debt / EBITDA	1.55×	1.47×	1.9×	1.85×	1.79×	1.83×	1.84×	1.88×
Cash conversion cycle (days)	-37	-35	-13	-21	-19	-28	-27	-29