Equus Total Return Inc (EQS) 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

-114.0%

-$0.10

vs $0.68 price

Levered DCF

-$0.25

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

-3.76

Distress zone

Rating

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	-1.37×	-0.8×	1.51×	-17.15×	12.53×	-2.37×	11.38×	515.79×
P/B	1.17×	0.51×	0.41×	0.55×	0.88×	0.86×	0.53×	0.61×
P/S	14.08×	-1.05×	1.14×	7.73×	5.29×	-4.11×	4.16×	6.48×
EV / EBITDA	-6.13×	-0.8×	4.48×	-5.42×	4.27×	-2.41×	8.94×	902.97×
Gross margin	100.0%	101.0%	99.9%	99.8%	100.0%	100.4%	99.8%	99.9%
Operating margin	-268.6%	132.3%	75.1%	-45.1%	43.2%	172.9%	36.7%	1.2%
Net margin	-1031.6%	132.3%	75.1%	-45.1%	42.6%	172.9%	36.7%	1.2%
Current ratio	0.07×	0.5×	24.99×	181.24×	403.64×	489.32×	47.32×	76.42×
Debt / equity	0.13×	0×	0.93×	0.17×	0.07×	0.71×	0.63×	0.62×
Interest coverage	-5.4×	-136.07×	517.96×	-282×	875.33×	-455.26×	197.55×	12.75×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	1.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	11.7%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-85.5%	-63.6%	26.8%	-3.2%	7.1%	-36.4%	4.7%	0.1%
Return on invested capital	-18.9%	11809.4%	13.9%	-2.7%	6.5%	-20.9%	2.9%	0.1%
Return on assets	-66.4%	-62.7%	13.8%	-2.7%	6.5%	-20.9%	2.9%	0.1%
Free cash flow yield	-12.1%	255.8%	-261.9%	-39.9%	65.6%	84.3%	-22.1%	-46.3%
Earnings yield	-73.3%	-125.6%	66.0%	-5.8%	8.0%	-42.1%	8.8%	0.2%
Enterprise value	$21.3M	$14.9M	$58M	$6.1M	$11.2M	$29.6M	$49.6M	$46.1M
Net debt / EBITDA	-0.57×	0×	2.97×	11.75×	-7.98×	-0.03×	4.51×	383.45×
Cash conversion cycle (days)	548	-1,179	-4,022	-9,804	-7,157	-950	-3,452	-42,330