Orion Group Holdings, Inc. (ORN) 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

+110.5%

$17.87

vs $8.49 price

Levered DCF

$7.11

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

2.36

Grey zone

Rating

B-

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	158.28×	-154.97×	-8.98×	-5.95×	-8.02×	7.4×	-28.83×	-1.3×
P/B	2.48×	1.69×	1.32×	0.54×	0.78×	0.94×	1.1×	0.86×
P/S	0.46×	0.32×	0.22×	0.1×	0.19×	0.21×	0.21×	0.23×
EV / EBITDA	10.81×	7.77×	9.55×	8.67×	17.65×	4.22×	7.3×	-24.05×
Gross margin	12.4%	11.4%	8.7%	6.8%	6.8%	11.9%	9.0%	3.2%
Operating margin	1.4%	1.4%	-0.9%	-1.1%	-1.5%	3.7%	0.3%	-19.3%
Net margin	0.3%	-0.2%	-2.5%	-1.7%	-2.4%	2.8%	-0.8%	-18.1%
Current ratio	1.36×	1.41×	1.26×	1.16×	1.22×	1.3×	1.42×	1.59×
Debt / equity	0.41×	0.63×	0.7×	0.48×	0.47×	0.41×	0.7×	0.56×
Interest coverage	1.42×	0.86×	-0.57×	-1.8×	-1.84×	5.4×	0.32×	-12.66×
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	1.6%	-1.1%	-14.7%	-9.2%	-9.8%	12.7%	-3.9%	-66.7%
Return on invested capital	4.6%	4.3%	-2.9%	-3.6%	-3.9%	9.8%	0.9%	-38.3%
Return on assets	0.6%	-0.4%	-4.3%	-3.4%	-4.1%	4.9%	-1.4%	-30.2%
Free cash flow yield	-2.7%	-0.6%	5.2%	-6.7%	-14.6%	21.0%	-11.8%	3.4%
Earnings yield	0.6%	-0.6%	-11.2%	-16.9%	-12.6%	13.5%	-3.5%	-77.2%
Enterprise value	$457.1M	$321.1M	$214.3M	$137.5M	$172.9M	$213.5M	$248M	$192.7M
Net debt / EBITDA	1.49×	1.6×	2.43×	3.96×	5.81×	1.27×	2.82×	-8.78×
Cash conversion cycle (days)	59	55	73	55	76	88	66	55