The Ensign Group, Inc. (ENSG) 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

-46.5%

$95.69

vs $178.88 price

Levered DCF

$182.71

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

3.61

Safe 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	FY2018
P/E	29.03×	25.26×	29.84×	23.13×	23.52×	22.86×	21.92×	20.38×
P/B	4.47×	4.1×	4.19×	4.16×	4.48×	4.76×	3.71×	3.19×
P/S	1.97×	1.77×	1.68×	1.72×	1.74×	1.62×	1.19×	1.08×
EV / EBITDA	24.01×	18.89×	21.55×	17.9×	17.39×	16.96×	20.3×	15.92×
Gross margin	15.8%	15.7%	15.8%	17.1%	17.8%	17.0%	14.3%	12.5%
Operating margin	8.4%	8.4%	6.8%	9.8%	9.9%	9.3%	6.3%	4.8%
Net margin	6.8%	7.0%	5.6%	7.4%	7.4%	7.1%	5.4%	5.3%
Current ratio	1.42×	1.56×	1.42×	1.34×	1.22×	1.04×	1.2×	1.29×
Debt / equity	1.86×	1.07×	1.25×	1.26×	1.24×	1.36×	2.06×	0.41×
Interest coverage	53.24×	43.24×	31.58×	33.24×	38.03×	23.84×	8.25×	5.59×
Dividend yield	0.1%	0.2%	0.2%	0.2%	0.3%	0.3%	0.4%	0.5%
Payout ratio	4.2%	4.6%	6.2%	5.4%	5.9%	6.4%	9.2%	10.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	15.4%	16.2%	14.0%	18.0%	19.1%	20.8%	16.9%	15.6%
Return on invested capital	6.9%	6.9%	5.6%	7.8%	8.4%	8.6%	5.0%	7.5%
Return on assets	6.3%	6.4%	5.0%	6.5%	6.8%	6.7%	4.7%	7.8%
Free cash flow yield	3.7%	2.5%	4.3%	3.6%	4.5%	8.3%	5.0%	8.2%
Earnings yield	3.4%	4.0%	3.3%	4.3%	4.3%	4.4%	4.6%	4.9%
Enterprise value	$13.6B	$9B	$7.6B	$6.5B	$5.6B	$4.8B	$3.7B	$2.1B
Net debt / EBITDA	6.43×	3.16×	3.85×	3.49×	3.13×	3.12×	7.04×	1.61×
Cash conversion cycle (days)	38	39	37	38	36	37	46	43