Koppers Holdings Inc. (KOP) 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

-32.1%

$28.64

vs $42.17 price

Levered DCF

-$21.01

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.98

Grey zone

Rating

C-

Overall 1 / 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	9.6×	12.76×	11.97×	9.25×	7.83×	5.36×	11.87×	15.21×
P/B	0.94×	1.37×	2.14×	1.48×	1.63×	1.91×	5.36×	6.33×
P/S	0.29×	0.32×	0.5×	0.3×	0.4×	0.39×	0.48×	0.21×
EV / EBITDA	6.89×	6.65×	7.71×	7.65×	8.07×	6.88×	9.52×	8.06×
Gross margin	23.8%	20.2%	19.7%	17.4%	19.9%	21.6%	20.2%	19.6%
Operating margin	11.7%	7.1%	9.1%	7.0%	9.3%	9.4%	7.6%	6.5%
Net margin	3.0%	2.5%	4.1%	3.2%	5.1%	7.3%	4.1%	1.4%
Current ratio	2.94×	2.09×	2.14×	1.97×	2.2×	1.93×	1.75×	1.81×
Debt / equity	1.78×	2.09×	1.87×	2.26×	2.15×	2.57×	6.89×	17.62×
Interest coverage	3.32×	1.94×	2.75×	3.07×	3.86×	3.2×	2.03×	1.96×
Dividend yield	1.2%	0.9%	0.5%	0.7%	0.0%	0.0%	0.0%	0.0%
Payout ratio	11.4%	11.3%	5.6%	6.6%	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	9.8%	10.7%	17.9%	15.9%	21.0%	35.7%	45.2%	41.6%
Return on invested capital	8.9%	6.5%	9.2%	6.5%	8.0%	9.5%	9.6%	4.9%
Return on assets	3.0%	2.8%	4.9%	3.7%	5.1%	7.6%	4.3%	1.6%
Free cash flow yield	12.6%	6.3%	2.4%	-0.5%	-3.3%	8.9%	9.9%	-8.8%
Earnings yield	10.4%	7.8%	8.4%	10.7%	12.8%	18.7%	8.4%	6.6%
Enterprise value	$1.5B	$1.6B	$1.9B	$1.5B	$1.5B	$1.5B	$1.8B	$1.3B
Net debt / EBITDA	4.46×	3.95×	3.45×	4.55×	4.48×	3.87×	5.28×	5.87×
Cash conversion cycle (days)	104	83	75	73	78	78	71	70