Insteel Industries, Inc. (IIIN) 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

+31.7%

$38.22

vs $29.02 price

Levered DCF

$33.53

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

6.45

Safe zone

Rating

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	19.45×	18.24×	31.4×	19.55×	4.14×	11.06×	18.89×	70.79×
P/B	1.52×	2.02×	1.73×	1.66×	1.33×	2.44×	1.36×	1.61×
P/S	0.78×	1.16×	1.15×	0.98×	0.63×	1.25×	0.76×	0.87×
EV / EBITDA	9.63×	9.9×	12.17×	9.24×	2.67×	6.43×	7.64×	16.85×
Gross margin	10.2%	14.4%	9.4%	10.1%	23.9%	20.6%	11.8%	6.6%
Operating margin	5.1%	8.0%	3.8%	5.3%	19.5%	15.1%	5.2%	1.7%
Net margin	4.0%	6.3%	3.6%	5.0%	15.1%	11.3%	4.0%	1.2%
Current ratio	3.72×	3.97×	5.68×	6.47×	5.36×	3.59×	3.67×	5.65×
Debt / equity	0.01×	0.01×	0×	0.01×	0×	0.01×	0.01×	0×
Interest coverage	596.32×	996.29×	224.49×	399×	1,775.6×	928.75×	230.56×	45.38×
Dividend yield	3.8%	2.9%	8.4%	6.5%	7.9%	4.3%	0.6%	0.6%
Payout ratio	73.5%	53.0%	263.9%	127.3%	32.9%	47.0%	12.2%	41.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	7.8%	11.0%	5.5%	8.5%	32.1%	22.1%	7.2%	2.3%
Return on invested capital	7.2%	9.9%	4.1%	6.7%	30.5%	21.4%	6.7%	2.2%
Return on assets	6.2%	8.9%	4.6%	7.2%	26.5%	17.0%	5.6%	1.9%
Free cash flow yield	4.3%	2.5%	6.4%	17.6%	-2.0%	7.1%	13.6%	-1.0%
Earnings yield	5.1%	5.5%	3.2%	5.1%	24.1%	9.0%	5.3%	1.4%
Enterprise value	$540.2M	$715.2M	$496.5M	$509.4M	$471M	$647.9M	$294.3M	$356.9M
Net debt / EBITDA	-0.62×	-0.48×	-2.69×	-2.24×	-0.27×	-0.88×	-1.72×	-1.8×
Cash conversion cycle (days)	93	103	80	79	124	65	68	78