Legence Corp. Class A Common stock (LGN) 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

-83.5%

$6.00

vs $36.41 price

Levered DCF

$72.64

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

2.16

Grey zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022
P/E	-42.61×	319.37×	-67.78×	-37.65×
P/B	6.52×	8.8×	3.41×	0×
P/S	1×	0.85×	1.1×	1.43×
EV / EBITDA	33.04×	30.84×	39.58×	0×
Gross margin	21.0%	20.4%	19.5%	18.7%
Operating margin	3.6%	2.8%	0.6%	-1.9%
Net margin	-2.3%	0.5%	-2.8%	-6.6%
Current ratio	1.57×	1.84×	1.57×	0×
Debt / equity	2.43×	8.41×	2.14×	0×
Interest coverage	0.91×	2.29×	0.15×	-0.48×
Dividend yield	0.0%	16.9%	0.1%	0.0%
Payout ratio	0.0%	3103.7%	-3.3%	-0.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022
Return on equity	-15.2%	4.8%	-8.8%	0.0%
Return on invested capital	4.6%	2.5%	0.5%	0.0%
Return on assets	-2.2%	0.4%	-2.2%	0.0%
Free cash flow yield	8.6%	0.6%	0.9%	0.0%
Earnings yield	-2.3%	0.5%	-2.6%	-4.6%
Enterprise value	$5.3B	$4.8B	$4.2B	$0
Net debt / EBITDA	4.5×	10.36×	9.62×	0×
Cash conversion cycle (days)	76	85	97	0