Enerflex Ltd. (EFXT) 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

-98.7%

$0.30

vs $22.93 price

Levered DCF

$37.85

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.74

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	29.11×	38.27×	-6.87×	-8.23×	-47.8×	6.89×	7.22×	14.03×
P/B	1.74×	1.18×	0.73×	0.73×	0.51×	0.43×	1.06×	1.11×
P/S	0.72×	0.54×	0.32×	0.63×	0.9×	0.63×	0.69×	1.14×
EV / EBITDA	5.28×	5.41×	3.49×	10.65×	8×	6.01×	5.27×	7.95×
Gross margin	21.7%	14.5%	17.6%	17.0%	21.0%	22.4%	19.7%	17.2%
Operating margin	12.1%	7.4%	9.0%	5.2%	5.8%	9.7%	12.6%	8.5%
Net margin	2.5%	1.3%	-3.5%	-5.7%	-1.9%	7.2%	7.4%	5.9%
Current ratio	1.13×	1.14×	1.25×	1.28×	2×	2.17×	1.94×	1.68×
Debt / equity	0.64×	0.74×	0.94×	0.96×	0.29×	0.32×	0.37×	0.35×
Interest coverage	3.78×	1.73×	1.79×	1.88×	2.74×	5.08×	11.6×	6.41×
Dividend yield	0.9%	0.7%	1.2%	0.8%	0.8%	3.1%	2.6%	2.4%
Payout ratio	26.5%	29.5%	-10.8%	-8.9%	-38.5%	27.5%	24.8%	45.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	6.0%	2.9%	-7.9%	-6.5%	-1.1%	5.0%	11.3%	5.8%
Return on invested capital	6.8%	3.5%	10.0%	2.9%	-1.1%	4.4%	9.4%	4.5%
Return on assets	2.4%	1.1%	-2.8%	-2.4%	-0.7%	3.2%	6.4%	3.0%
Free cash flow yield	12.3%	24.8%	12.4%	-8.3%	17.3%	11.2%	-14.8%	7.8%
Earnings yield	3.4%	2.5%	-10.9%	-9.0%	-2.1%	11.4%	10.7%	5.2%
Enterprise value	$2.5B	$1.9B	$1.7B	$1.7B	$901.5M	$961.1M	$1.4B	$1.5B
Net debt / EBITDA	1.3×	1.93×	1.89×	5.57×	1.91×	2.23×	1.16×	0.61×
Cash conversion cycle (days)	62	77	72	97	125	113	82	93