OneWater Marine Inc. (ONEW) 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

-308.9%

-$21.54

vs $10.31 price

Levered DCF

-$9.24

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.37

Distress zone

Rating

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	-2.19×	-61.31×	-9.52×	3.19×	5.64×	2.64×	4.36×	72.1×
P/B	0.88×	0.97×	1.02×	1.08×	1.97×	1.04×	2.9×	5.12×
P/S	0.13×	0.2×	0.19×	0.24×	0.36×	0.13×	0.12×	0.14×
EV / EBITDA	-11.8×	15.4×	31.14×	4.8×	4.43×	3.63×	6.87×	20.43×
Gross margin	21.7%	24.5%	27.6%	31.7%	29.1%	23.0%	22.4%	22.8%
Operating margin	3.3%	3.7%	0.9%	12.5%	12.1%	7.7%	7.1%	7.4%
Net margin	-6.1%	-0.3%	-2.0%	7.5%	6.4%	1.7%	2.7%	0.2%
Current ratio	1.14×	1.28×	1.32×	1.25×	1.23×	1.36×	1.19×	1.18×
Debt / equity	3.38×	2.79×	3.02×	2.17×	1.41×	1.74×	9.48×	12.49×
Interest coverage	2.18×	0.91×	0.3×	12.2×	21.55×	4.43×	3.42×	4.77×
Dividend yield	0.1%	1.6%	1.0%	2.3%	7.2%	85.5%	15.7%	4.0%
Payout ratio	-0.2%	-94.9%	-9.3%	7.2%	40.6%	627.8%	68.5%	291.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-40.2%	-1.6%	-10.8%	34.0%	35.0%	14.2%	66.4%	7.0%
Return on invested capital	3.7%	4.4%	1.1%	12.6%	19.4%	17.2%	6.5%	12.6%
Return on assets	-8.2%	-0.4%	-2.3%	8.7%	11.0%	3.8%	4.2%	0.3%
Free cash flow yield	31.4%	2.6%	-41.9%	-2.0%	33.5%	161.2%	-14.1%	-18.1%
Earnings yield	-45.6%	-1.6%	-10.5%	31.3%	17.7%	13.6%	22.9%	1.4%
Enterprise value	$1.2B	$1.3B	$1.4B	$1.2B	$702M	$275.3M	$382.3M	$265.7M
Net debt / EBITDA	-9.25×	11.39×	22.78×	3.14×	1.62×	1.94×	5.22×	14.15×
Cash conversion cycle (days)	135	168	174	118	61	70	174	146