National Rural Utilities Cooper (NRUC) 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

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vs $21.88 price

Levered DCF

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After debt service

Piotroski score

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Altman Z-score

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Rating

Overall 2 / 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	0×	0×	0×	0×	0×	0×	0×	0×
P/B	0×	0×	0×	0×	0×	0×	0×	0×
P/S	0×	0×	0×	0×	0×	0×	0×	0×
EV / EBITDA	2,381.27×	20.14×	21.95×	25.92×	14.65×	13.72×	-19.52×	-85.93×
Gross margin	100.0%	100.0%	100.0%	100.0%	100.0%	47.5%	-71.3%	-610.4%
Operating margin	63.7%	51.1%	81.6%	82.1%	89.4%	89.6%	121.8%	289.9%
Net margin	61.8%	47.8%	80.7%	81.7%	88.7%	88.9%	126.4%	304.2%
Current ratio	0.11×	0.11×	0.19×	0.94×	1.16×	2.39×	4.81×	1.12×
Debt / equity	10.18×	10.46×	8.59×	10.32×	11.24×	16.61×	35.2×	16.88×
Interest coverage	-0.18×	0.1×	0×	0×	1.14×	1.17×	-0.69×	-0.17×
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	8.0%	4.5%	18.5%	19.6%	37.6%	59.0%	-93.5%	-11.7%
Return on invested capital	43.0%	24.7%	1.7%	1.5%	2.6%	2.8%	-2.0%	-0.5%
Return on assets	0.7%	0.4%	1.5%	1.5%	2.5%	2.7%	-2.1%	-0.6%
Free cash flow yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Enterprise value	$33.3B	$32.1B	$25.4B	$26.3B	$23.6B	$22.5B	$21.4B	$21.4B
Net debt / EBITDA	2,381.27×	20.14×	21.95×	25.92×	14.65×	13.72×	-19.52×	-85.93×
Cash conversion cycle (days)	251	368	117	0	0	0	0	0