Enterprise Financial Services Corp (EFSC) 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

-12.0%

$55.56

vs $63.13 price

Levered DCF

$66.22

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

-0.47

Distress zone

Rating

B+

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	FY2018
P/E	10.09×	11.6×	8.77×	9.2×	12.2×	12.66×	13.54×	9.75×
P/B	0.98×	1.15×	0.97×	1.2×	1.06×	0.87×	1.45×	1.44×
P/S	2.19×	2.59×	2.24×	3.43×	3.85×	2.71×	3.64×	3.18×
EV / EBITDA	7.78×	7.39×	6.55×	7.72×	0.84×	9.18×	13.48×	9.79×
Gross margin	68.4%	62.6%	67.9%	92.4%	91.4%	71.2%	78.9%	80.8%
Operating margin	31.1%	28.4%	33.2%	48.6%	40.0%	26.5%	33.6%	38.3%
Net margin	22.1%	22.7%	26.1%	38.0%	31.6%	21.4%	26.9%	32.6%
Current ratio	27.2×	0.07×	0.17×	0.17×	0.29×	0.18×	0.22×	0.19×
Debt / equity	0.25×	0.24×	0.26×	0.38×	0.37×	0.51×	0.73×	0.68×
Interest coverage	1.08×	0.82×	1.22×	6.3×	7.32×	2.64×	1.75×	2.28×
Dividend yield	2.4%	2.1%	2.5%	2.1%	1.6%	2.1%	1.3%	1.2%
Payout ratio	24.3%	23.4%	21.2%	18.5%	19.7%	26.6%	17.9%	12.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.9%	10.2%	11.3%	13.3%	8.7%	6.9%	10.7%	14.8%
Return on invested capital	1.2%	7.6%	8.3%	9.1%	6.1%	4.2%	5.9%	8.5%
Return on assets	1.2%	1.2%	1.3%	1.6%	1.0%	0.8%	1.3%	1.6%
Free cash flow yield	9.1%	11.4%	15.7%	11.7%	9.7%	14.1%	6.9%	12.2%
Earnings yield	10.1%	8.8%	11.6%	11.1%	8.2%	7.9%	7.4%	10.3%
Enterprise value	$2.3B	$1.8B	$1.7B	$2.1B	$153M	$953M	$1.7B	$1.1B
Net debt / EBITDA	1.02×	-1.34×	0.08×	1.03×	-8.03×	0.11×	3.62×	1.93×
Cash conversion cycle (days)	23	0	0	0	0	0	0	8