FrontView REIT, Inc. (FVR) 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

+28.3%

$24.15

vs $18.82 price

Levered DCF

$24.24

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.81

Distress 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
P/E	-67.09×	-95.42×	-255.04×	-62.4×	-98.53×	78×
P/B	0.75×	0.9×	1.42×	1.29×	8.81×	1.38×
P/S	4.34×	4.86×	5.81×	7.03×	8.27×	34.08×
EV / EBITDA	13.22×	24.45×	23.76×	17.96×	24.55×	52.37×
Gross margin	-13.2%	79.0%	76.0%	77.3%	79.8%	72.3%
Operating margin	16.9%	-24.6%	-30.0%	-13.2%	-8.9%	63.9%
Net margin	-5.7%	-37.1%	-2.3%	-11.2%	-8.3%	44.1%
Current ratio	1.2×	1.23×	1.68×	4.46×	0.63×	1.17×
Debt / equity	0.84×	0.87×	2.3×	1.38×	9.05×	0×
Interest coverage	0.63×	-0.63×	-0.79×	-0.42×	-0.32×	0×
Dividend yield	5.7%	0.5%	5.9%	5.6%	4.8%	2.4%
Payout ratio	-433.6%	-6.9%	-1513.9%	-350.7%	-480.2%	185.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	-1.0%	-6.8%	-0.6%	-2.1%	-8.8%	1.8%
Return on invested capital	1.4%	-1.8%	-1.9%	-0.9%	-8.9%	1.7%
Return on assets	-0.4%	-2.7%	-0.1%	-0.7%	-8.0%	1.7%
Free cash flow yield	14.4%	7.0%	6.1%	8.2%	6.0%	-1.1%
Earnings yield	-1.3%	-7.6%	-0.4%	-1.6%	-1.0%	1.3%
Enterprise value	$606.8M	$567.5M	$722.6M	$538.2M	$567.9M	$41.9M
Net debt / EBITDA	6.87×	11.9×	14.54×	8.6×	12.43×	-0.97×
Cash conversion cycle (days)	-88	-451	-480	-320	-4	-77