Dyne Therapeutics, Inc. (DYN) 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

-61.0%

$6.74

vs $17.30 price

Levered DCF

$6.80

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

3.6

Safe zone

Rating

C+

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	-5.64×	-6.99×	-3.37×	-3.59×	-4.06×	-16.94×	-79.67×	-50.85×
P/B	2.58×	3.52×	8.7×	2.39×	1.64×	2.9×	77.34×	-50.58×
P/S	0×	0×	0×	0×	0×	0×	0×	0×
EV / EBITDA	-3.74×	-5.72×	-2.99×	-2.82×	-2.95×	-11.86×	-73.41×	-50.56×
Gross margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Operating margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Net margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Current ratio	22.25×	15.6×	2.53×	9.46×	13.31×	31.83×	6.26×	11.47×
Debt / equity	0.02×	0.04×	0.3×	0.12×	0.09×	0×	0×	-0.69×
Interest coverage	-75.61×	0×	0×	-58.61×	0×	-148.1×	0×	-959×
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	-45.9%	-50.4%	-258.4%	-66.6%	-40.5%	-17.2%	-96.4%	98.6%
Return on invested capital	-41.0%	-52.6%	-204.0%	-60.4%	-37.4%	-16.9%	-98.2%	-63.3%
Return on assets	-37.6%	-45.9%	-142.9%	-54.9%	-35.1%	-16.6%	-82.4%	-58.2%
Free cash flow yield	-16.1%	-13.3%	-23.8%	-26.0%	-20.4%	-4.8%	-1.2%	-1.7%
Earnings yield	-17.8%	-14.3%	-29.7%	-27.9%	-24.7%	-5.9%	-1.2%	-1.9%
Enterprise value	$1.6B	$1.8B	$699.6M	$460.7M	$437M	$691.7M	$1.1B	$242M
Net debt / EBITDA	1.99×	1.3×	0.4×	0.87×	1.13×	5.16×	1×	0.99×
Cash conversion cycle (days)	-1,440	-1,068	-3,402	0	0	-1,794	-1,692	-7,878