Montauk Renewables, Inc. (MNTK) 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

-204.5%

-$2.52

vs $2.41 price

Levered DCF

-$3.07

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.56

Distress zone

Rating

B-

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	FY2018
P/E	136.89×	58.19×	81×	44.12×	-319.31×	362.04×	286.8×	58.65×
P/B	0.91×	2.2×	5.05×	6.86×	7.93×	10.45×	10.81×	11.15×
P/S	1.35×	3.22×	7.22×	7.58×	9.76×	16.61×	15.77×	14.34×
EV / EBITDA	10.93×	14.24×	28.11×	23.26×	57.87×	67.48×	55.3×	30.53×
Gross margin	39.0%	44.1%	45.9%	50.7%	47.2%	38.5%	44.5%	56.5%
Operating margin	2.3%	9.2%	13.5%	21.7%	2.3%	3.6%	10.4%	31.1%
Net margin	1.0%	5.5%	8.5%	17.1%	-3.1%	4.6%	5.5%	25.0%
Current ratio	1.11×	1.71×	3.07×	4.4×	3.06×	1.14×	0.99×	2.1×
Debt / equity	0.52×	0.24×	0.27×	0.34×	0.44×	0.42×	0.44×	0.63×
Interest coverage	0.96×	3.06×	4.11×	24.87×	1.14×	0.83×	1.97×	11.62×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.7%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	40.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	0.7%	3.8%	6.0%	15.5%	-2.5%	2.9%	3.8%	19.4%
Return on invested capital	-0.7%	3.9%	5.8%	11.6%	1.2%	-5.0%	4.8%	11.3%
Return on assets	0.4%	2.8%	4.3%	10.6%	-1.6%	1.8%	2.4%	11.0%
Free cash flow yield	-36.1%	-3.3%	-1.7%	3.8%	2.3%	0.7%	-1.1%	0.6%
Earnings yield	0.7%	1.7%	1.2%	2.3%	-0.3%	0.3%	0.3%	1.7%
Enterprise value	$353M	$583.6M	$1.3B	$1.5B	$1.5B	$1.7B	$1.7B	$1.7B
Net debt / EBITDA	3.54×	0.42×	-0.13×	-0.44×	1.03×	1.79×	1.85×	0.7×
Cash conversion cycle (days)	-33	-16	-4	12	22	-15	11	2