Flywire Corp (FLYW) 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

-0.0%

$19.49

vs $19.49 price

Levered DCF

$37.75

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

4.85

Safe zone

Rating

B-

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
P/E	128.73×	884.98×	-310.32×	-67.97×	-146.38×	-319.09×	-175.5×
P/B	2.07×	3.15×	3.38×	5.48×	8.4×	-43.4×	-47.14×
P/S	2.78×	5.21×	6.59×	9.13×	20.14×	26.93×	37.39×
EV / EBITDA	27.51×	104.7×	170.16×	-96.2×	-247.64×	-387.65×	-260.7×
Gross margin	61.4%	63.9%	63.4%	62.7%	65.1%	63.7%	61.3%
Operating margin	3.2%	-1.5%	-5.3%	-10.4%	-6.6%	-12.0%	-18.4%
Net margin	2.2%	0.6%	-2.1%	-13.6%	-14.0%	-8.4%	-21.2%
Current ratio	1.5×	2.63×	2.98×	2.54×	3.78×	1.68×	1.31×
Debt / equity	0×	0×	0×	0×	0.05×	-0.3×	-0.33×
Interest coverage	5.67×	-13.49×	-57.84×	-24.95×	-6.56×	-6.24×	-7.1×
Dividend yield	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%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	1.6%	0.4%	-1.1%	-8.2%	-5.8%	13.6%	26.7%
Return on invested capital	1.5%	-0.9%	-2.7%	-6.1%	-2.5%	-5.3%	-28.1%
Return on assets	1.1%	0.3%	-0.8%	-5.8%	-4.4%	-4.1%	-14.3%
Free cash flow yield	5.7%	3.5%	2.8%	-0.1%	0.3%	-0.5%	0.0%
Earnings yield	0.8%	0.1%	-0.3%	-1.5%	-0.7%	-0.3%	-0.6%
Enterprise value	$1.4B	$2.1B	$2B	$2.3B	$3.7B	$3.5B	$3.5B
Net debt / EBITDA	-6.45×	-24.97×	-55.43×	14.57×	24.11×	8.91×	4.59×
Cash conversion cycle (days)	100	64	98	58	28	58	46