Five9, Inc. (FIVN) 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

-25.1%

$26.78

vs $35.77 price

Levered DCF

$40.11

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.54

Grey 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	39.31×	-239.06×	-69.64×	-50.27×	-173.82×	-264.24×	-869.76×	-11,505.26×
P/B	1.98×	4.87×	10.54×	15.31×	43.91×	40.08×	20.15×	17.79×
P/S	1.35×	2.91×	6.23×	6.09×	15.21×	25.73×	12.07×	9.85×
EV / EBITDA	17.96×	70.93×	-271.69×	-140.55×	-1,134.4×	799.32×	144.24×	129.39×
Gross margin	54.7%	54.2%	52.5%	52.8%	55.5%	58.5%	59.0%	59.6%
Operating margin	2.8%	-4.9%	-10.8%	-11.2%	-9.2%	-2.8%	1.0%	2.7%
Net margin	3.4%	-1.2%	-9.0%	-12.2%	-8.7%	-9.7%	-1.4%	-0.1%
Current ratio	4.09×	1.95×	5.53×	5.16×	3.92×	6.65×	5.78×	6.96×
Debt / equity	1.08×	1.98×	1.48×	2.55×	3.91×	2.34×	1.14×	1.46×
Interest coverage	2.32×	-3.46×	-12.89×	-11.69×	-7×	-0.43×	0.24×	0.68×
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	5.0%	-2.1%	-15.2%	-30.5%	-25.1%	-15.1%	-2.3%	-0.2%
Return on invested capital	1.8%	-2.8%	-7.4%	-7.9%	-4.4%	-1.2%	0.8%	-5.5%
Return on assets	2.2%	-0.6%	-5.5%	-7.6%	-4.4%	-4.0%	-0.9%	-0.1%
Free cash flow yield	12.9%	2.6%	1.7%	0.7%	-0.1%	0.3%	0.8%	1.2%
Earnings yield	2.5%	-0.4%	-1.4%	-2.0%	-0.6%	-0.4%	-0.1%	-0.0%
Enterprise value	$2.2B	$3.9B	$6.3B	$5.4B	$10B	$11.6B	$4.1B	$2.7B
Net debt / EBITDA	5.09×	15.84×	-27.97×	-16.01×	-83.29×	29.77×	5.11×	6.12×
Cash conversion cycle (days)	22	23	20	19	24	7	15	63