HMH Holding Inc. Class A Common Stock (HMH) 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

+103.6%

$35.41

vs $17.39 price

Levered DCF

$51.46

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

2.08

Grey 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
P/E	18.72×	16.62×	48.2×	-32.13×
P/B	1.21×	0×	0×	0×
P/S	1.03×	1.01×	1.08×	1.25×
EV / EBITDA	7.21×	0×	0×	0×
Gross margin	29.9%	32.3%	26.8%	32.7%
Operating margin	13.7%	14.1%	9.9%	3.0%
Net margin	5.5%	6.1%	2.2%	-3.9%
Current ratio	2.81×	0×	0×	0×
Debt / equity	0.56×	0×	0×	0×
Interest coverage	2.6×	3.18×	1.69×	0.62×
Dividend yield	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022
Return on equity	6.5%	0.0%	0.0%	0.0%
Return on invested capital	6.2%	0.0%	0.0%	0.0%
Return on assets	3.3%	0.0%	0.0%	0.0%
Free cash flow yield	8.4%	1.9%	0.1%	-1.7%
Earnings yield	5.4%	6.0%	2.1%	-3.1%
Enterprise value	$1.1B	$0	$0	$0
Net debt / EBITDA	1.86×	0×	0×	0×
Cash conversion cycle (days)	234	0	0	0