Flagstar Financial, Inc. (FLG) 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

-398.7%

-$32.24

vs $10.80 price

Levered DCF

-$7.46

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

0.3

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	-24.69×	-2.67×	-63.73×	6.83×	10.2×	10.34×	15.61×	11.91×
P/B	0.64×	0.37×	0.89×	0.47×	0.8×	0.71×	0.83×	0.69×
P/S	1.11×	0.47×	1.23×	1.91×	3.24×	2.76×	2.96×	2.57×
EV / EBITDA	-337.2×	-1.66×	213.66×	39.79×	29.04×	31.51×	35.81×	29.35×
Gross margin	37.6%	23.4%	46.3%	61.9%	77.0%	62.1%	54.7%	62.0%
Operating margin	-4.2%	-21.6%	-0.8%	37.9%	46.1%	33.2%	27.7%	31.3%
Net margin	-3.8%	-17.5%	-1.3%	29.8%	34.1%	28.9%	20.9%	23.7%
Current ratio	0.54×	0.35×	0.27×	0.18×	0.22×	0.25×	0.2×	0.21×
Debt / equity	1.5×	1.77×	3.42×	3.59×	2.92×	2.39×	2.21×	2.13×
Interest coverage	-0.07×	-0.36×	-0.02×	1.19×	2.02×	0.97×	0.62×	0.85×
Dividend yield	0.9%	2.9%	7.0%	8.4%	6.2%	7.2%	6.3%	8.0%
Payout ratio	-27.1%	-7.9%	-657.0%	53.8%	58.6%	68.3%	88.6%	86.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-2.2%	-13.7%	-0.9%	7.4%	8.5%	7.5%	5.9%	6.3%
Return on invested capital	1.3%	-4.6%	-0.2%	2.1%	2.4%	2.1%	1.8%	2.0%
Return on assets	-0.2%	-1.1%	-0.1%	0.7%	1.0%	0.9%	0.7%	0.8%
Free cash flow yield	-11.5%	1.7%	2.7%	24.6%	5.0%	6.8%	9.1%	11.6%
Earnings yield	-3.4%	-37.4%	-1.1%	15.6%	10.5%	10.5%	7.1%	9.2%
Enterprise value	$16.9B	$2B	$24.6B	$33.8B	$24B	$19.3B	$19.7B	$17.3B
Net debt / EBITDA	-232.62×	0.84×	149.06×	34.89×	22.19×	23.53×	25.64×	21.58×
Cash conversion cycle (days)	0	121	192	281	358	348	246	140