Orchestra BioMed Holdings, Inc. (OBIO) 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

-198.9%

-$5.72

vs $5.78 price

Levered DCF

-$5.72

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

-2.86

Distress zone

Rating

D+

Overall 1 / 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	-3.74×	-2.41×	-6.17×	-7.56×	-544.86×	-1,507.06×
P/B	3.13×	4.47×	4.46×	4.84×	-2.89×	-5.4×
P/S	5.92×	55.83×	109.91×	71.95×	-263.6×	45.93×
EV / EBITDA	-3.5×	-2.33×	-5.62×	-7.38×	-9.22×	-13.49×
Gross margin	99.4%	92.3%	93.3%	90.9%	125.4%	97.5%
Operating margin	-154.7%	-2437.5%	-1866.2%	-924.3%	2787.6%	-328.8%
Net margin	-157.4%	-2313.3%	-1779.7%	-951.3%	2943.0%	-374.5%
Current ratio	6.45×	4.27×	7.95×	4.56×	0.92×	2.52×
Debt / equity	0.25×	0.5×	0.02×	0.23×	-0.08×	-0.19×
Interest coverage	-45.13×	0×	0×	0×	-23.52×	0×
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	-83.2%	-185.2%	-72.2%	-64.0%	32.3%	44.0%
Return on invested capital	-52.4%	-106.3%	-60.8%	-42.0%	-663.2%	-67.6%
Return on assets	-45.9%	-80.1%	-51.6%	-35.2%	-170.1%	-56.1%
Free cash flow yield	-25.0%	-34.5%	-15.2%	-11.8%	-9.6%	-10.2%
Earnings yield	-26.6%	-41.4%	-16.2%	-13.2%	-11.2%	-8.2%
Enterprise value	$179.4M	$141.6M	$274.5M	$246.3M	$201.9M	$251.1M
Net debt / EBITDA	0.37×	0.09×	0.59×	0.24×	0.19×	0.58×
Cash conversion cycle (days)	-11,112	-8,864	-5,391	-4,175	-3,653	-4,281