InfuSystem Holdings, Inc. (INFU) 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

-53.4%

$6.47

vs $13.87 price

Levered DCF

$3.33

After debt service

Piotroski score

9 / 9

Strong

Altman Z-score

5.68

Safe zone

Rating

B+

Overall 3 / 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	28.03×	76.82×	263.5×	9,644.44×	243.29×	21.84×	123.62×	-67.32×
P/B	3.23×	3.12×	4.24×	3.73×	7.24×	9.27×	7.54×	3.6×
P/S	1.29×	1.33×	1.76×	1.63×	3.41×	3.88×	2.07×	1.1×
EV / EBITDA	7.36×	10.37×	15.5×	14.5×	22.37×	17.99×	13.23×	8.83×
Gross margin	56.0%	52.2%	50.2%	55.1%	57.2%	60.3%	57.8%	58.1%
Operating margin	8.3%	5.1%	3.2%	1.5%	2.8%	9.1%	4.3%	0.6%
Net margin	4.6%	1.7%	0.7%	0.0%	1.4%	17.8%	1.7%	-1.6%
Current ratio	1.8×	1.82×	1.95×	1.71×	1.71×	1.29×	0.88×	1.19×
Debt / equity	0.06×	0.49×	0.67×	0.77×	0.76×	1.05×	1.93×	1.65×
Interest coverage	9.18×	3.88×	1.88×	1.18×	2.05×	7.03×	1.85×	0.29×
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	11.6%	4.1%	1.7%	0.0%	2.9%	42.5%	6.1%	-5.4%
Return on invested capital	9.3%	3.7%	2.2%	0.3%	3.3%	10.6%	4.8%	0.8%
Return on assets	6.6%	2.3%	0.8%	0.0%	1.5%	17.9%	1.7%	-1.7%
Free cash flow yield	8.5%	1.5%	0.0%	1.4%	0.5%	0.9%	-5.2%	4.2%
Earnings yield	3.6%	1.3%	0.4%	0.0%	0.4%	4.6%	0.8%	-1.5%
Enterprise value	$185.5M	$207.6M	$256.3M	$216M	$386M	$410.6M	$208.7M	$103.1M
Net debt / EBITDA	0.01×	1.39×	2.1×	2.47×	2.12×	1.45×	2.56×	2.52×
Cash conversion cycle (days)	27	38	48	30	22	19	0	-11