IES Holdings, Inc. (IESC) 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

-30.6%

$138.52

vs $199.61 price

Levered DCF

$160.44

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

8.31

Safe zone

Rating

A-

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	26.13×	19.92×	14.38×	19.05×	14.24×	15.89×	13.04×	-28.66×
P/B	8.96×	6.59×	2.96×	1.58×	2.75×	2.33×	1.76×	1.83×
P/S	2.35×	1.4×	0.56×	0.26×	0.62×	0.55×	0.4×	0.46×
EV / EBITDA	17.98×	11.62×	6.89×	8.41×	9.36×	10.24×	8.11×	11.69×
Gross margin	25.5%	24.2%	18.7%	14.7%	18.7%	19.1%	16.9%	17.1%
Operating margin	11.4%	10.4%	6.7%	2.6%	5.6%	4.2%	3.9%	3.0%
Net margin	9.1%	7.6%	4.6%	1.6%	4.3%	3.5%	3.1%	-1.6%
Current ratio	1.71×	1.67×	1.68×	1.55×	1.55×	1.53×	1.53×	1.6×
Debt / equity	0.18×	0.1×	0.14×	0.38×	0.24×	0.11×	0×	0.13×
Interest coverage	211.43×	224.87×	52.87×	18.86×	88.96×	64.46×	22.56×	13.36×
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	34.6%	35.9%	24.1%	9.6%	19.3%	14.7%	13.5%	-6.4%
Return on invested capital	29.5%	30.9%	20.1%	7.7%	14.8%	12.5%	13.9%	-5.8%
Return on assets	19.2%	17.6%	11.0%	3.7%	8.7%	7.4%	7.5%	-3.4%
Free cash flow yield	2.8%	4.7%	10.2%	-2.3%	3.2%	10.9%	7.5%	1.9%
Earnings yield	3.9%	5.4%	8.1%	6.1%	7.0%	6.3%	7.6%	-3.5%
Enterprise value	$8B	$4B	$1.3B	$683.1M	$1B	$639.1M	$415.7M	$407.7M
Net debt / EBITDA	0.07×	-0.11×	-0.07×	1.38×	0.55×	-0.35×	-0.36×	0.1×
Cash conversion cycle (days)	64	70	67	65	68	61	57	59