Cypherpunk Technologies Inc. (CYPH) 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

-8.7%

$2.15

vs $2.36 price

Levered DCF

$0.20

After debt service

Piotroski score

1 / 9

Weak

Altman Z-score

37.01

Safe 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	15.91×	-1.59×	-1.04×	-0.93×	-6.85×	-4.85×	-0.77×	-1.22×
P/B	0.5×	3.09×	1.41×	0.93×	2.58×	1.98×	4.42×	3.08×
P/S	0×	0×	0×	0×	185.38×	13.28×	2.61×	0×
EV / EBITDA	-1.72×	-0.91×	-0.18×	-0.56×	-4.04×	-20.7×	-6.97×	-0.52×
Gross margin	0.0%	0.0%	0.0%	0.0%	100.0%	50.9%	52.9%	0.0%
Operating margin	0.0%	0.0%	0.0%	0.0%	-2761.7%	-34.3%	-35.9%	0.0%
Net margin	0.0%	0.0%	0.0%	0.0%	-2705.8%	-33.7%	-35.6%	0.0%
Current ratio	35.56×	3.41×	5.64×	17.07×	11.7×	37.37×	3.5×	2.69×
Debt / equity	0×	0.01×	0×	0.01×	0×	0.01×	0.18×	0×
Interest coverage	-1,522.5×	0×	0×	-1,051.17×	-1,010.39×	-88.36×	-151.13×	-1,618.47×
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	3.1%	-192.7%	-135.4%	-99.9%	-37.6%	-5.0%	-60.2%	-252.2%
Return on invested capital	-11.0%	-198.4%	-144.1%	-102.8%	-38.2%	-5.0%	-47.2%	-243.6%
Return on assets	3.0%	-137.5%	-111.8%	-94.0%	-34.4%	-4.8%	-39.6%	-121.3%
Free cash flow yield	-57.2%	-55.8%	-51.7%	-96.2%	-12.6%	-19.4%	-106.8%	-92.0%
Earnings yield	6.3%	-62.5%	-96.2%	-107.1%	-14.6%	-2.5%	-13.6%	-81.8%
Enterprise value	$62.7M	$61.2M	$14.3M	$30.5M	$163.6M	$70.4M	$23.9M	$12M
Net debt / EBITDA	0.38×	0.7×	0.86×	0.38×	2.82×	18.53×	0.4×	0.71×
Cash conversion cycle (days)	0	0	-5,526	0	289	92	76	-26,660