Holley Inc. (HLLY) 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

+81.7%

$5.10

vs $2.81 price

Levered DCF

-$1.58

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

1.28

Distress 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	FY2018
P/E	25.81×	-15.1×	30.44×	3.37×	-43.3×	20.43×	2,031.25×	-37.5×
P/B	1.1×	0.85×	1.31×	0.6×	3.84×	2.82×	5.6×	0×
P/S	0.8×	0.59×	0.87×	0.36×	1.69×	1.34×	3.12×	8.34×
EV / EBITDA	9×	7.68×	8.86×	6.06×	11.66×	12.26×	22.32×	0×
Gross margin	41.1%	41.0%	38.8%	36.8%	41.4%	41.3%	40.4%	34.1%
Operating margin	14.3%	2.4%	14.3%	7.4%	11.2%	16.9%	12.5%	5.1%
Net margin	3.1%	-3.9%	2.9%	10.7%	-3.9%	6.5%	0.2%	-22.2%
Current ratio	2.75×	3.12×	3.17×	3.21×	3.18×	3.15×	3.48×	0×
Debt / equity	1.18×	1.32×	1.34×	1.64×	2.12×	2.81×	2.56×	0×
Interest coverage	1.69×	0.29×	1.55×	1.26×	1.98×	1.95×	0.91×	0×
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	4.3%	-5.5%	4.3%	17.7%	-8.9%	13.7%	0.3%	0.0%
Return on invested capital	5.5%	1.2%	5.8%	4.1%	7.0%	6.8%	0.6%	0.0%
Return on assets	1.6%	-2.1%	1.6%	5.9%	-2.3%	3.1%	0.1%	0.0%
Free cash flow yield	2.8%	11.2%	14.2%	-0.5%	0.5%	11.7%	0.1%	-1.4%
Earnings yield	3.9%	-6.5%	3.3%	29.8%	-2.3%	4.9%	0.0%	-2.7%
Enterprise value	$983.6M	$859.5M	$1.1B	$902.1M	$1.8B	$1.3B	$1.7B	$0
Net debt / EBITDA	4.49×	4.48×	4.31×	4.39×	4×	5.78×	6.93×	0×
Cash conversion cycle (days)	182	174	161	183	152	157	197	0