MNTN, Inc Class A (MNTN) 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

-340.6%

-$22.81

vs $9.48 price

Levered DCF

-$3.90

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

7.24

Safe zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

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

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
P/E	-137.24×	-61.3×	-38.2×	-21.43×	-90.9×	2,463.55×
P/B	2.88×	-18.85×	-19.15×	-23.06×	-64.35×	-203.68×
P/S	3.04×	8.99×	11.51×	15.12×	20.43×	38.93×
EV / EBITDA	-253.99×	-168.81×	-80.04×	-26.67×	-130.42×	270.97×
Gross margin	76.3%	71.6%	70.0%	54.0%	66.4%	61.8%
Operating margin	8.3%	-0.7%	-26.2%	-71.0%	-11.2%	10.0%
Net margin	-2.2%	-14.6%	-30.2%	-70.4%	-12.3%	7.1%
Current ratio	4.18×	1.02×	0.98×	1.01×	1.52×	1.44×
Debt / equity	0×	-0.47×	-0.47×	-0.61×	-1.54×	-2.67×
Interest coverage	6.9×	-0.24×	-4.58×	-65.72×	-19.78×	2.53×
Dividend yield	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%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	-2.1%	30.6%	50.3%	107.4%	38.6%	-37.0%
Return on invested capital	3.1%	-1.2%	-36.2%	-64.6%	-3.6%	27.9%
Return on assets	-1.7%	-13.8%	-27.4%	-46.4%	-4.9%	10.8%
Free cash flow yield	5.0%	1.6%	-0.2%	-3.0%	-0.2%	0.3%
Earnings yield	-0.7%	-1.6%	-2.6%	-4.7%	-0.6%	0.2%
Enterprise value	$671.8M	$2B	$2B	$2B	$2B	$2B
Net debt / EBITDA	79.46×	2.73×	0.22×	-0.03×	3.19×	2.49×
Cash conversion cycle (days)	-231	-254	-238	-49	-290	-109