El Paso Energy Capital Trust I PFD CV TR SECS (EP.PC) 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

+13.7%

$57.42

vs $50.49 price

Levered DCF

$172.43

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.75

Distress 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	0×	40.68×	44.02×	145.29×	64.04×	103.52×	53.05×	57.19×
P/B	0×	3.49×	3.47×	3.29×	3.59×	3.73×	3.45×	2.75×
P/S	0×	7.06×	6.86×	5.27×	6.89×	10.01×	8.82×	6.54×
EV / EBITDA	6.79×	32.3×	34.96×	42.24×	25.9×	81.55×	41.29×	38.13×
Gross margin	0.0%	100.0%	100.0%	21.0%	60.9%	78.2%	100.0%	100.0%
Operating margin	27.9%	29.0%	27.8%	4.5%	17.6%	13.3%	36.9%	26.8%
Net margin	0.6%	17.3%	15.6%	3.6%	10.8%	9.8%	16.6%	11.4%
Current ratio	0.03×	0.49×	0.35×	0.18×	0.66×	0.63×	0.63×	0.76×
Debt / equity	1.02×	1.04×	1.06×	1.03×	0.03×	1.14×	1.05×	1.11×
Interest coverage	0×	0×	0×	0×	51.16×	0×	0×	0×
Dividend yield	0.0%	2.4%	2.4%	2.5%	2.1%	2.0%	1.9%	1.7%
Payout ratio	2503.8%	97.9%	105.8%	361.3%	136.3%	206.8%	98.8%	100.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	0.3%	8.6%	7.9%	2.3%	5.6%	3.6%	6.5%	4.8%
Return on invested capital	7.1%	6.4%	6.3%	1.1%	6.8%	2.6%	7.8%	5.1%
Return on assets	0.1%	3.7%	3.4%	1.0%	2.5%	1.9%	3.4%	2.0%
Free cash flow yield	0.0%	2.8%	4.0%	4.8%	3.9%	4.8%	2.1%	2.3%
Earnings yield	0.0%	2.5%	2.3%	0.7%	1.6%	1.0%	1.9%	1.7%
Enterprise value	$31.8B	$138.3B	$137.3B	$132.2B	$114.2B	$151.9B	$151.7B	$126.6B
Net debt / EBITDA	6.79×	7.41×	8.16×	9.88×	-0.05×	18.68×	9.59×	10.26×
Cash conversion cycle (days)	37	36	38	-499	-4	-30	38	39