Excelerate Energy, Inc. (EE) 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

-48.2%

$17.85

vs $34.50 price

Levered DCF

$170.17

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

1.99

Grey zone

Rating

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
P/E	21.41×	23.45×	13.33×	8.21×	15.61×	16.89×	11.93×
P/B	1.23×	1.57×	0.8×	1.38×	0.57×	0.74×	0.77×
P/S	0.68×	0.9×	0.35×	0.27×	0.72×	1.52×	1.2×
EV / EBITDA	9.38×	8.68×	4.73×	8.69×	12.02×	14.35×	13.4×
Gross margin	32.2%	47.9%	35.6%	10.5%	22.6%	40.9%	38.5%
Operating margin	24.5%	25.3%	18.2%	7.5%	15.7%	30.9%	32.0%
Net margin	3.2%	3.9%	2.6%	1.1%	4.6%	9.0%	10.1%
Current ratio	2.43×	3.49×	3.43×	2.1×	0.94×	0.87×	0.63×
Debt / equity	2.1×	1.43×	1.52×	1.5×	0.91×	1.52×	1.47×
Interest coverage	3.2×	3.52×	3.14×	3.14×	1.72×	1.49×	1.71×
Dividend yield	1.0%	3.4%	0.6%	0.8%	0.0%	1.2%	0.1%
Payout ratio	21.7%	78.8%	8.6%	20.6%	0.0%	19.6%	1.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	5.7%	6.7%	6.0%	5.5%	3.7%	4.4%	6.4%
Return on invested capital	6.6%	6.7%	6.1%	5.4%	4.4%	4.3%	6.6%
Return on assets	0.9%	1.1%	1.1%	0.9%	1.6%	1.7%	2.6%
Free cash flow yield	33.1%	17.1%	-19.9%	16.1%	16.5%	10.3%	16.2%
Earnings yield	4.7%	4.3%	7.5%	4.0%	6.4%	5.9%	8.4%
Enterprise value	$3.9B	$2.9B	$1.7B	$2.6B	$3.3B	$3.6B	$3.6B
Net debt / EBITDA	2.13×	0.47×	0.6×	0.67×	3.48×	4.97×	4.51×
Cash conversion cycle (days)	32	72	30	27	6	51	21