CS Disco, Inc. (LAW) 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

-279.0%

-$9.52

vs $5.32 price

Levered DCF

$0.79

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

2.78

Grey zone

Rating

C+

Overall 2 / 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
P/E	-10.78×	-5.37×	-10.84×	-5.27×	-85.12×	-102.5×	-78.85×
P/B	3.74×	2.04×	2.28×	1.66×	7.72×	-24.57×	-31.36×
P/S	3.05×	2.07×	3.31×	2.75×	18.14×	34.07×	48.03×
EV / EBITDA	-10.74×	-5.04×	-8.15×	-2.67×	-82.51×	-109.81×	-79.9×
Gross margin	74.9%	74.2%	74.7%	74.7%	72.8%	70.1%	70.2%
Operating margin	-30.7%	-42.6%	-36.1%	-53.1%	-20.8%	-32.9%	-62.5%
Net margin	-28.3%	-38.5%	-30.5%	-52.3%	-21.3%	-33.4%	-61.4%
Current ratio	3.78×	6.11×	8.32×	10.17×	15.06×	5.95×	3.47×
Debt / equity	0.05×	0.06×	0.05×	0.05×	0×	-0.02×	0×
Interest coverage	0×	-111.01×	-296.7×	-151.81×	-44.13×	-49.34×	-244.76×
Dividend yield	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%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-34.6%	-37.8%	-21.0%	-31.6%	-9.1%	24.1%	40.1%
Return on invested capital	-35.4%	-39.3%	-23.7%	-30.5%	-8.8%	-33.1%	-113.7%
Return on assets	-25.6%	-30.9%	-18.2%	-27.6%	-8.5%	-28.9%	-83.1%
Free cash flow yield	-3.8%	-3.8%	-9.7%	-13.6%	-1.2%	-1.1%	-1.3%
Earnings yield	-9.3%	-18.6%	-9.2%	-19.1%	-1.2%	-1.0%	-1.3%
Enterprise value	$466.3M	$257M	$306.1M	$179M	$1.8B	$2.3B	$2.3B
Net debt / EBITDA	0.29×	0.85×	4.01×	2.87×	11.54×	2.72×	0.8×
Cash conversion cycle (days)	42	19	17	-29	11	5	-45