CXApp Inc. (CXAI) 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

+214.1%

$4.24

vs $1.35 price

Levered DCF

-$87.86

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

-5.51

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
P/E	-0.57×	-1.49×	-0.27×	-2.52×	37×	-20.74×
P/B	0.56×	1.86×	0.58×	8.37×	1.34×	0.34×
P/S	1.7×	4.05×	2×	23.12×	0×	0×
EV / EBITDA	-0.99×	-1.97×	-0.22×	-10.21×	37.39×	0×
Gross margin	27.8%	82.0%	76.2%	75.6%	0.0%	0.0%
Operating margin	-336.7%	-192.4%	-713.9%	-342.7%	0.0%	0.0%
Net margin	-294.0%	-271.7%	-727.9%	-344.5%	0.0%	0.0%
Current ratio	2.23×	0.61×	0.88×	1.58×	0.69×	6.95×
Debt / equity	0.92×	0.36×	0.14×	0.05×	0×	0×
Interest coverage	-22.01×	-7.83×	0×	0×	0×	0×
Dividend yield	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%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	-96.4%	-124.5%	-211.1%	-124.7%	3.6%	-3.9%
Return on invested capital	-57.2%	-62.8%	-166.6%	-118.6%	-0.5%	-0.2%
Return on assets	-41.5%	-61.0%	-146.6%	-99.6%	3.3%	-3.5%
Free cash flow yield	-133.5%	-25.4%	-122.2%	-9.9%	-0.2%	-0.6%
Earnings yield	-173.3%	-67.0%	-364.5%	-14.9%	2.7%	-11.6%
Enterprise value	$9.6M	$29.7M	$12M	$190.6M	$344.2M	$83.8M
Net debt / EBITDA	-0.18×	-0.05×	0.05×	0.28×	-0.04×	0×
Cash conversion cycle (days)	-22	-54	-96	-117	0	0