Stride, Inc. (LRN) 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

+569.6%

$517.81

vs $77.33 price

Levered DCF

$495.12

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

5.09

Safe zone

Rating

A+

Overall 5 / 5

Ratios by fiscal year

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

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	10.89×	21.7×	14.4×	12.41×	15.81×	18.05×	43.94×	31.23×
P/B	2.26×	4.22×	2.5×	1.66×	2.08×	1.61×	1.59×	1.84×
P/S	1.46×	2.6×	1.44×	0.86×	1×	0.84×	1.03×	1.15×
EV / EBITDA	6×	11.83×	7.69×	5.86×	7.37×	6.75×	10.51×	7.75×
Gross margin	37.8%	39.2%	37.4%	35.2%	35.4%	34.8%	33.4%	34.7%
Operating margin	17.9%	15.0%	12.2%	9.0%	9.3%	7.2%	3.1%	4.5%
Net margin	13.4%	12.0%	10.0%	6.9%	6.4%	4.6%	2.4%	3.7%
Current ratio	5.94×	5.39×	5.1×	3.45×	3.15×	2.8×	1.83×	3.4×
Debt / equity	0.33×	0.37×	0.45×	0.57×	0.7×	0.58×	0.35×	0.04×
Interest coverage	38.27×	34.28×	28.33×	19.69×	18.92×	6.14×	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	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	20.7%	19.5%	17.4%	13.4%	13.2%	8.9%	3.6%	5.9%
Return on invested capital	15.6%	13.3%	11.0%	8.1%	8.2%	6.2%	2.6%	5.2%
Return on assets	13.9%	12.6%	10.6%	7.2%	6.5%	4.5%	2.3%	4.5%
Free cash flow yield	9.6%	6.0%	7.4%	8.7%	8.2%	6.3%	3.3%	8.0%
Earnings yield	9.2%	4.6%	6.9%	8.1%	6.3%	5.5%	2.3%	3.2%
Enterprise value	$3.5B	$6B	$3B	$1.7B	$1.9B	$1.4B	$1.1B	$906.2M
Net debt / EBITDA	-0.36×	-0.46×	0.07×	0.46×	0.7×	0.39×	0.22×	-2.21×
Cash conversion cycle (days)	94	83	83	88	82	80	76	58