Orrstown Financial Services, Inc. (ORRF) 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

+119.8%

$99.49

vs $45.27 price

Levered DCF

$117.68

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

-0.54

Distress zone

Rating

Overall 4 / 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	8.41×	24.57×	8.55×	11.08×	8.4×	6.84×	13.88×	11.9×
P/B	1×	1.05×	1.15×	1.07×	1.02×	0.74×	1.05×	0.88×
P/S	1.67×	1.9×	1.75×	1.82×	2.27×	1.43×	1.94×	1.77×
EV / EBITDA	7.49×	13.37×	8.49×	10.85×	2.7×	4.23×	23.16×	14.37×
Gross margin	70.6%	61.2%	73.2%	90.2%	93.6%	83.2%	79.6%	83.3%
Operating margin	29.0%	9.8%	25.8%	19.8%	33.6%	25.6%	16.3%	16.8%
Net margin	22.8%	7.8%	20.5%	16.4%	27.0%	20.9%	14.0%	14.9%
Current ratio	1.13×	0.24×	0.23×	0.23×	0.28×	0.25×	0.27×	0.33×
Debt / equity	0.57×	0.41×	0.68×	0.68×	0.21×	0.44×	1.81×	1.03×
Interest coverage	0.99×	0.3×	1×	2.95×	6.08×	2.03×	0.83×	1.07×
Dividend yield	3.5%	2.4%	2.8%	3.4%	3.0%	4.2%	2.6%	2.9%
Payout ratio	25.5%	59.8%	23.8%	37.5%	25.2%	28.8%	36.3%	34.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	13.7%	4.3%	13.5%	9.6%	12.1%	10.7%	7.6%	7.4%
Return on invested capital	23.9%	2.7%	7.1%	4.9%	8.9%	6.7%	3.3%	3.6%
Return on assets	1.5%	0.4%	1.2%	0.8%	1.2%	1.0%	0.7%	0.7%
Free cash flow yield	12.0%	6.2%	13.6%	14.4%	14.3%	15.9%	2.6%	11.6%
Earnings yield	13.7%	4.1%	11.7%	9.0%	11.9%	14.6%	7.2%	8.4%
Enterprise value	$883.7M	$501.4M	$419.2M	$339M	$124.8M	$165.2M	$583.1M	$260M
Net debt / EBITDA	2.49×	-1.04×	2.31×	3.03×	-3.28×	-0.41×	13.85×	5.95×
Cash conversion cycle (days)	22	27	29	30	25	26	18	-557