DHI Group, Inc. (DHX) 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

-98.5%

$0.07

vs $4.79 price

Levered DCF

$3.17

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

2.04

Grey 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	FY2018
P/E	-5.17×	310.53×	32.33×	56.1×	-717.24×	-3.58×	11.58×	10.13×
P/B	0.73×	0.69×	1.05×	2.2×	2.48×	0.84×	0.91×	0.51×
P/S	0.54×	0.56×	0.74×	1.56×	2.41×	0.96×	1.25×	0.46×
EV / EBITDA	56.11×	4.89×	6.46×	11.9×	19.08×	-5.97×	8.61×	3.17×
Gross margin	84.7%	85.7%	87.0%	88.2%	87.4%	87.1%	88.5%	88.6%
Operating margin	-8.9%	4.5%	4.1%	3.7%	-1.5%	-29.1%	8.6%	7.2%
Net margin	-10.6%	0.2%	2.3%	2.8%	-24.8%	-27.0%	10.7%	4.4%
Current ratio	0.44×	0.47×	0.45×	0.38×	0.39×	0.51×	0.45×	0.48×
Debt / equity	0.49×	0.37×	0.43×	0.36×	0.28×	0.24×	0.18×	0.12×
Interest coverage	-4.63×	1.98×	1.81×	3.52×	-2.63×	-38.98×	14.41×	5.69×
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	-14.3%	0.2%	3.2%	3.9%	-25.6%	-23.5%	7.8%	4.9%
Return on invested capital	-7.8%	0.3%	3.8%	3.6%	-0.4%	-16.8%	3.4%	4.9%
Return on assets	-7.2%	0.1%	1.6%	1.8%	-13.4%	-12.5%	4.5%	2.8%
Free cash flow yield	19.9%	9.0%	1.0%	7.7%	4.9%	2.4%	6.0%	6.6%
Earnings yield	-19.5%	0.3%	3.1%	1.8%	-10.3%	-28.0%	8.6%	9.7%
Enterprise value	$113.1M	$117.9M	$155.2M	$269.7M	$319.7M	$133.7M	$171.1M	$84.6M
Net debt / EBITDA	21.67×	1.61×	1.76×	1.57×	1.82×	-1.18×	1.23×	0.41×
Cash conversion cycle (days)	-202	-234	-267	-444	-327	-336	-437	-410