Motorsport Games Inc. (MSGM) 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

-203.9%

-$5.15

vs $4.96 price

Levered DCF

-$9.86

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

-6.93

Distress 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	FY2019	FY2018
P/E	2.22×	-1.43×	-0.61×	-0.14×	-1.17×	-198.86×	-207.1×	-304.35×
P/B	2.26×	7.89×	7.68×	3.17×	1.08×	-350.72×	-199.31×	1,222.01×
P/S	1.36×	0.45×	1.15×	0.47×	2.63×	18.96×	51.54×	41.39×
EV / EBITDA	1.34×	-9.19×	-0.57×	-0.15×	-0.7×	485.62×	-126.05×	-918.98×
Gross margin	81.1%	62.9%	47.6%	52.0%	50.1%	65.4%	58.7%	62.1%
Operating margin	14.5%	-20.1%	-236.9%	-339.3%	-229.0%	0.0%	-43.7%	-4.7%
Net margin	61.3%	-31.7%	-207.3%	-348.6%	-220.0%	-9.2%	-30.1%	-13.6%
Current ratio	2.25×	0.56×	0.46×	0.3×	2.7×	0.7×	0.78×	1.38×
Debt / equity	0×	0.1×	0.19×	0.65×	0×	-10.54×	-2.63×	8.97×
Interest coverage	87.32×	-14.49×	-21.18×	-30.51×	-68.48×	0×	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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	102.2%	-554.7%	-1382.0%	-2346.6%	-90.3%	170.6%	116.3%	-402.3%
Return on invested capital	19.0%	-137.0%	-705.8%	-588.0%	-82.8%	0.0%	-44.4%	-5.0%
Return on assets	57.9%	-43.9%	-146.8%	-190.4%	-65.4%	-10.1%	-27.9%	-12.8%
Free cash flow yield	26.5%	-73.1%	-172.1%	-407.6%	-54.8%	1.1%	-0.7%	-0.2%
Earnings yield	45.1%	-70.3%	-179.8%	-740.4%	-83.7%	-0.5%	-0.6%	-0.3%
Enterprise value	$10.4M	$3.1M	$6.5M	$4.9M	$21.9M	$368M	$616.8M	$611.8M
Net debt / EBITDA	-0.64×	2.4×	0.13×	-0×	0.56×	9.06×	-1.24×	-1.6×
Cash conversion cycle (days)	-84	-276	-43	-103	50	75	137	74