The Joint Corp. (JYNT) 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

-64.1%

$2.63

vs $7.32 price

Levered DCF

$5.17

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

2.85

Grey 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	45.89×	-27.26×	-14.56×	322.86×	142.8×	27.94×	67.25×	449.73×
P/B	8.77×	7.68×	5.7×	6.22×	31.06×	17.41×	38.99×	48.16×
P/S	2.4×	3.04×	3×	2×	11.76×	6.27×	4.6×	3.58×
EV / EBITDA	74.37×	46.34×	14.17×	27.76×	93.77×	44.73×	42.16×	46.26×
Gross margin	79.6%	77.9%	77.7%	90.9%	90.4%	88.9%	88.5%	86.4%
Operating margin	-1.6%	-3.6%	0.7%	0.8%	7.7%	9.4%	7.0%	0.6%
Net margin	5.3%	-11.1%	-20.8%	0.6%	9.5%	22.4%	6.9%	0.8%
Current ratio	1.59×	1.52×	1.32×	0.76×	1.25×	1.37×	0.98×	1.34×
Debt / equity	0.13×	0.04×	0.12×	0.8×	0.78×	0.87×	2.5×	0.47×
Interest coverage	0×	0×	4.95×	0.87×	0×	0×	0×	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	19.3%	-28.1%	-39.4%	1.9%	25.0%	62.3%	58.1%	10.7%
Return on invested capital	-3.2%	-5.5%	-25.0%	1.0%	8.7%	10.3%	10.4%	1.3%
Return on assets	4.8%	-7.0%	-11.2%	0.7%	8.7%	20.0%	7.6%	1.1%
Free cash flow yield	0.3%	5.2%	6.9%	1.1%	0.7%	2.2%	1.5%	3.6%
Earnings yield	2.2%	-3.7%	-6.9%	0.3%	0.8%	3.6%	1.5%	0.2%
Enterprise value	$110.4M	$134.3M	$125.9M	$218.9M	$944.7M	$365.7M	$228.9M	$106.1M
Net debt / EBITDA	-14.55×	-8.37×	-1.72×	2.07×	0.41×	-0.25×	1.07×	-3.32×
Cash conversion cycle (days)	-33	-37	-24	-104	-64	-75	-17	-32