Oruka Therapeutics, Inc. (ORKA) 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

-99.1%

$0.90

vs $95.18 price

Levered DCF

$0.99

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

155.06

Safe 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	-13.12×	-3.89×	-4.59×	-3.44×	-1.55×	-5.73×	-1.38×	-0.58×
P/B	2.93×	0.85×	7.94×	9.83×	7.03×	4.87×	0.99×	0.76×
P/S	0×	0×	0×	0×	0×	0×	0×	0×
EV / EBITDA	-12.7×	-3.22×	-49.15×	-37.48×	-15.9×	-18.46×	0.14×	0.26×
Gross margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Operating margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Net margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Current ratio	22.37×	28.89×	59.01×	37.72×	15.56×	14.28×	9.16×	8.55×
Debt / equity	0×	0×	0.01×	0.01×	0.01×	0.01×	0×	0×
Interest coverage	0×	-60.03×	0×	0×	0×	-1,085.11×	-830.57×	0×
Dividend yield	0.0%	99.8%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	-388.2%	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	-22.3%	-21.9%	-14.4%	-23.8%	-37.9%	-20.9%	-72.0%	-131.5%
Return on invested capital	-25.8%	-23.0%	-19.6%	-23.4%	-37.5%	-20.8%	-73.9%	-134.1%
Return on assets	-21.6%	-21.1%	-14.1%	-23.0%	-35.2%	-19.3%	-64.2%	-116.2%
Free cash flow yield	-6.4%	-17.8%	0.0%	-2.7%	-5.2%	-3.4%	-63.7%	-180.5%
Earnings yield	-7.6%	-25.7%	-1.8%	-2.4%	-5.4%	-4.3%	-72.7%	-173.6%
Enterprise value	$1.3B	$264.9M	$256.9M	$367.8M	$305.8M	$178M	-$793.8K	-$2M
Net debt / EBITDA	0.43×	0.74×	7.11×	4.29×	2.75×	5.04×	1.5×	0.83×
Cash conversion cycle (days)	-18,272	-46,801	0	-1,069	-4,480	-6,959	-1,714	-3,816