Firy Inc. (FIRY) 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

-141.2%

-$5.22

vs $12.68 price

Levered DCF

-$2.41

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

-5.51

Distress zone

Rating

C-

Overall 1 / 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	-0.96×	-1.86×	-1.29×	-0.47×	-15.23×	-50.83×	-121.47×	-47.37×
P/B	0.6×	0.52×	0.62×	0.75×	4.7×	130.24×	153.26×	1,224.13×
P/S	0.64×	0.94×	0.86×	0.77×	7.53×	32.29×	23.86×	25.94×
EV / EBITDA	-0.03×	0.49×	0.36×	-0.34×	-15.02×	-48.85×	-139.47×	-52.02×
Gross margin	87.5%	86.0%	89.9%	88.6%	93.4%	94.6%	95.2%	95.8%
Operating margin	-68.3%	-50.6%	-75.2%	-156.2%	-77.3%	-45.1%	-20.7%	-50.3%
Net margin	-67.4%	-50.5%	-66.6%	-162.7%	-49.4%	-65.1%	-19.7%	-54.7%
Current ratio	1.2×	4.6×	6.31×	10.14×	5.91×	5.77×	3.35×	2.43×
Debt / equity	1.15×	0.79×	0.65×	1.04×	0.49×	0×	0.52×	14.51×
Interest coverage	-4.68×	-3.2×	-40.07×	-15.87×	-240.44×	-77.88×	-9.94×	-11.66×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-63.0%	-27.9%	-48.2%	-157.6%	-30.8%	-262.5%	-126.5%	-2581.8%
Return on invested capital	-29.7%	-15.6%	-32.8%	-73.2%	-28.8%	-43.9%	-87.5%	-152.8%
Return on assets	-24.0%	-12.9%	-25.6%	-70.6%	-18.4%	-52.8%	-60.7%	-106.7%
Free cash flow yield	-104.6%	-10.7%	-65.2%	-87.4%	-6.4%	-0.8%	-0.9%	-1.4%
Earnings yield	-104.7%	-53.7%	-77.7%	-211.4%	-6.6%	-2.0%	-0.8%	-2.1%
Enterprise value	$1.5M	-$45.2M	-$35M	$133.5M	$2.9B	$7.1B	$2.8B	$1.3B
Net debt / EBITDA	1.23×	1.46×	1.72×	0.19×	-0.29×	1.8×	0.78×	0.27×
Cash conversion cycle (days)	-221	-248	-26	-10	-273	-655	-188	-518