Definitive Healthcare Corp. (DH) 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

-728.9%

-$7.11

vs $1.13 price

Levered DCF

$11.12

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

-3.14

Distress zone

Rating

B-

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	FY2019
P/E	-2.21×	-1.16×	-5.55×	-153.92×	-143.84×	-81.68×	-180.38×
P/B	1.09×	1.08×	1.3×	1.17×	3.04×	3.51×	5.31×
P/S	1.27×	1.9×	4.46×	4.99×	15.96×	35.5×	75.49×
EV / EBITDA	-2.22×	-1.11×	-5.21×	47.29×	109.84×	106.68×	443.95×
Gross margin	75.9%	78.3%	81.1%	80.9%	75.5%	74.2%	49.7%
Operating margin	-8.5%	-281.8%	-131.2%	-19.8%	-16.4%	-13.4%	-2.5%
Net margin	-57.5%	-163.8%	-80.5%	-3.2%	-31.2%	-44.5%	-42.6%
Current ratio	1.64×	2.3×	2.23×	2.94×	3.61×	0.72×	0.52×
Debt / equity	0.61×	0.57×	0.31×	0.29×	0.31×	0.39×	0.36×
Interest coverage	-1.82×	-47.91×	-21.69×	-3.93×	-1.05×	-0.44×	-0.12×
Dividend yield	1.0%	1.1%	1.1%	1.2%	0.3%	0.1%	0.1%
Payout ratio	-2.3%	-1.2%	-6.1%	-178.2%	-15.7%	-5.6%	-19.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-49.4%	-93.0%	-23.5%	-0.8%	-6.0%	-4.4%	-3.0%
Return on invested capital	-3.3%	-70.2%	-18.7%	-1.3%	-1.4%	-1.0%	-0.1%
Return on assets	-18.9%	-37.9%	-11.1%	-0.3%	-2.5%	-3.0%	-2.1%
Free cash flow yield	12.1%	9.6%	3.4%	2.5%	0.7%	0.5%	0.3%
Earnings yield	-45.4%	-86.2%	-18.1%	-0.6%	-2.0%	-1.3%	-0.6%
Enterprise value	$315.1M	$627.1M	$1.3B	$1.2B	$2.5B	$4.6B	$6.9B
Net debt / EBITDA	-0.06×	-0.26×	-0.57×	4.92×	-5.06×	10.05×	27.77×
Cash conversion cycle (days)	56	5	42	63	53	34	89