LENZ Therapeutics, Inc. (LENZ) 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

-23.7%

$2.33

vs $3.05 price

Levered DCF

$1.05

After debt service

Piotroski score

1 / 9

Weak

Altman Z-score

0.7

Distress 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
P/E	-5.61×	-12.34×	-0.81×	-1.22×	-6.89×	-10.63×	-6,683.97×
P/B	1.62×	3.01×	-1.09×	-5.1×	-34.3×	-74.13×	-327.54×
P/S	24.15×	0×	0×	8.21×	0×	0×	0×
EV / EBITDA	-5.37×	-11.98×	-0.94×	-7.55×	-6.7×	-10.36×	5,100.69×
Gross margin	96.3%	0.0%	0.0%	100.0%	0.0%	0.0%	0.0%
Operating margin	-477.5%	0.0%	0.0%	-69.9%	0.0%	0.0%	0.0%
Net margin	-430.3%	0.0%	0.0%	-72.1%	0.0%	0.0%	0.0%
Current ratio	14.23×	20.36×	3.63×	4.91×	14.62×	0.66×	0×
Debt / equity	0×	0.01×	-0×	-0.01×	0×	0×	-0.99×
Interest coverage	0×	0×	0×	0×	0×	-337.5×	-0.36×
Dividend yield	0.0%	49.9%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	-616.6%	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	-28.9%	-24.4%	75.5%	44.7%	497.8%	697.7%	4.9%
Return on invested capital	-32.0%	-28.5%	-138.9%	-27.9%	-353.8%	142.3%	223.1%
Return on assets	-26.8%	-23.1%	-99.4%	-23.0%	-385.9%	-303.0%	-1816.7%
Free cash flow yield	-15.2%	-9.7%	-59.8%	-76.8%	-12.0%	-1.4%	-0.0%
Earnings yield	-17.8%	-8.1%	-69.3%	-8.8%	-14.5%	-9.4%	-0.0%
Enterprise value	$436.6M	$595.6M	$66.2M	$79M	$469.2M	$706.7M	$728.7M
Net debt / EBITDA	0.3×	0.38×	0.5×	4.23×	0.26×	0.29×	15.39×
Cash conversion cycle (days)	-2,111	-26,790	0	0	-229	-1,900	0