Globant S.A. (GLOB) 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

+150.8%

$121.68

vs $48.51 price

Levered DCF

$79.11

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.68

Grey zone

Rating

Overall 4 / 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	28.06×	56.13×	63.97×	47.37×	133.66×	154.33×	71.66×	38.84×
P/B	1.4×	4.86×	5.86×	4.68×	9.85×	9.52×	8.84×	5.96×
P/S	1.2×	3.95×	4.84×	3.96×	9.91×	10.29×	5.88×	3.85×
EV / EBITDA	9.69×	23.55×	28.24×	21.91×	58.33×	61.37×	34.78×	20.49×
Gross margin	35.0%	35.7%	36.1%	37.6%	38.2%	37.4%	38.5%	35.8%
Operating margin	7.0%	9.3%	9.5%	11.6%	11.1%	10.3%	12.2%	12.8%
Net margin	4.2%	6.9%	7.6%	8.4%	7.4%	6.7%	8.2%	9.9%
Current ratio	1.64×	1.54×	1.39×	2×	2.12×	2.6×	1.89×	2.3×
Debt / equity	0.23×	0.21×	0.16×	0.09×	0.11×	0.13×	0.26×	0.01×
Interest coverage	4.23×	7.87×	8.38×	14.73×	13.78×	8.05×	12.14×	43.35×
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	4.9%	8.4%	9.2%	9.9%	7.4%	6.2%	12.3%	15.3%
Return on invested capital	4.6%	6.8%	7.0%	8.9%	7.3%	5.4%	11.2%	14.7%
Return on assets	3.1%	5.2%	5.8%	6.8%	5.1%	4.2%	7.9%	11.7%
Free cash flow yield	8.9%	2.3%	1.9%	1.4%	0.8%	0.6%	1.2%	1.9%
Earnings yield	3.5%	1.7%	1.6%	2.1%	0.7%	0.6%	1.4%	2.6%
Enterprise value	$3.2B	$9.8B	$10.1B	$6.9B	$12.6B	$8.2B	$3.9B	$1.9B
Net debt / EBITDA	0.7×	0.64×	-0.08×	-0.49×	-1.3×	-1.24×	0.44×	-0.78×
Cash conversion cycle (days)	78	85	84	88	87	86	85	73