Dorman Products, Inc. (DORM) 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

-15.8%

$117.31

vs $139.33 price

Levered DCF

$38.15

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

5.08

Safe zone

Rating

A-

Overall 4 / 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	18.55×	21×	20.2×	20.9×	27.36×	26.23×	29.46×	22.23×
P/B	2.57×	3.08×	2.23×	2.44×	3.85×	3.28×	3.19×	4.08×
P/S	1.78×	1.99×	1.35×	1.47×	2.67×	2.56×	2.49×	3.05×
EV / EBITDA	12.15×	12.77×	12.01×	15.45×	18.53×	15.92×	18.46×	14.67×
Gross margin	41.1%	40.1%	35.5%	32.6%	34.4%	35.1%	34.3%	38.3%
Operating margin	16.8%	14.6%	11.1%	9.9%	12.8%	12.2%	10.7%	17.6%
Net margin	9.6%	9.5%	6.7%	7.0%	9.8%	9.8%	8.4%	13.7%
Current ratio	3.09×	2.43×	2.25×	1.87×	1.62×	2.86×	3.42×	4.4×
Debt / equity	0.43×	0.44×	0.59×	0.81×	0.32×	0.04×	0.05×	0×
Interest coverage	12.52×	7.37×	4.47×	10.98×	79.35×	0×	0×	0×
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	13.8%	14.7%	11.1%	11.7%	14.1%	12.5%	10.8%	18.4%
Return on invested capital	13.0%	11.5%	8.8%	6.9%	10.6%	11.7%	10.1%	17.9%
Return on assets	8.2%	7.8%	5.6%	5.2%	7.9%	8.8%	8.0%	15.0%
Free cash flow yield	2.0%	4.8%	6.3%	0.1%	2.2%	4.9%	2.7%	1.8%
Earnings yield	5.4%	4.8%	5.0%	4.8%	3.7%	3.8%	3.4%	4.5%
Enterprise value	$4.4B	$4.5B	$3.3B	$3.3B	$3.8B	$2.7B	$2.4B	$2.9B
Net debt / EBITDA	1.62×	1.46×	2.38×	3.71×	1.17×	-0.7×	-0.25×	-0.22×
Cash conversion cycle (days)	307	249	235	270	275	247	251	248