Evergy, Inc. (EVRG) 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

-121.6%

-$18.61

vs $86.31 price

Levered DCF

-$42.75

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.79

Distress zone

Rating

C+

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	19.54×	16.24×	16.8×	19.24×	17.87×	20.41×	23.25×	22.71×
P/B	1.63×	1.42×	1.27×	1.53×	1.7×	1.44×	1.82×	1.21×
P/S	2.82×	2.43×	2.24×	2.47×	2.81×	2.57×	3.03×	2.84×
EV / EBITDA	12×	10.68×	10.51×	12.07×	11.57×	11.14×	12.39×	13.3×
Gross margin	32.3%	32.6%	30.4%	29.1%	31.1%	30.7%	30.1%	31.6%
Operating margin	25.2%	24.8%	23.0%	22.3%	24.3%	23.3%	23.0%	25.3%
Net margin	14.5%	15.0%	13.3%	12.8%	15.7%	12.6%	13.0%	12.5%
Current ratio	0.49×	0.5×	0.51×	0.53×	0.55×	0.69×	0.63×	0.59×
Debt / equity	1.51×	1.41×	1.36×	1.27×	1.21×	1.18×	1.16×	0.85×
Interest coverage	2.42×	2.57×	2.4×	3.23×	3.65×	2.98×	3.17×	3.87×
Dividend yield	3.7%	4.2%	4.6%	3.7%	3.2%	3.7%	3.0%	3.9%
Payout ratio	71.7%	68.3%	77.9%	71.1%	56.6%	75.2%	69.0%	88.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	8.4%	8.8%	7.6%	7.9%	9.5%	7.1%	7.8%	5.3%
Return on invested capital	4.2%	4.5%	4.2%	4.4%	4.4%	3.8%	4.2%	4.0%
Return on assets	2.4%	2.7%	2.4%	2.6%	3.1%	2.3%	2.6%	2.1%
Free cash flow yield	-4.5%	-2.5%	-2.9%	-2.5%	-4.0%	1.5%	1.5%	3.5%
Earnings yield	5.1%	6.2%	6.0%	5.2%	5.6%	4.9%	4.3%	4.4%
Enterprise value	$32.1B	$28.2B	$25.4B	$26.5B	$26.9B	$22.8B	$25.5B	$20.5B
Net debt / EBITDA	5.76×	5.32×	5.43×	5.47×	4.8×	4.97×	4.82×	5.43×
Cash conversion cycle (days)	54	40	33	27	9	9	17	30