UiPath Inc. (PATH) 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

+65.7%

$22.66

vs $13.68 price

Levered DCF

$24.63

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

4.98

Safe zone

Rating

A+

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	24.21×	-109.38×	-143.63×	-25.6×	-37.66×	-383.33×	-69×	-138×
P/B	3.25×	4.31×	6.43×	4.38×	10.29×	85.64×	181.95×	0×
P/S	4.21×	5.57×	9.91×	7.95×	22.16×	58.95×	106.56×	241.28×
EV / EBITDA	50.89×	-117.64×	-224.78×	-23.69×	-36.39×	-391.13×	-71.02×	0×
Gross margin	83.0%	82.7%	85.0%	83.0%	81.1%	89.2%	82.3%	71.5%
Operating margin	3.8%	-11.4%	-12.6%	-32.9%	-56.1%	-18.2%	-153.9%	-173.2%
Net margin	17.5%	-5.2%	-6.9%	-31.0%	-58.9%	-15.2%	-154.7%	-176.2%
Current ratio	2.48×	2.93×	3.63×	3.74×	4.32×	2.01×	1.68×	0×
Debt / equity	0.04×	0.04×	0.03×	0.03×	0.03×	0.05×	0.13×	0×
Interest coverage	0×	0×	0×	0×	0×	0×	0×	0×
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	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	13.6%	-4.0%	-4.5%	-17.1%	-27.3%	-22.1%	-264.1%	0.0%
Return on invested capital	2.7%	-7.4%	-7.3%	-16.5%	-24.5%	-21.2%	-187.8%	0.0%
Return on assets	8.9%	-2.6%	-3.0%	-12.0%	-20.4%	-10.7%	-102.3%	0.0%
Free cash flow yield	5.2%	3.8%	2.3%	-0.4%	-0.3%	0.1%	-1.1%	0.0%
Earnings yield	4.2%	-0.9%	-0.7%	-3.9%	-2.7%	-0.3%	-1.5%	-0.7%
Enterprise value	$6B	$7.2B	$12B	$7.1B	$18.1B	$35.5B	$35.6B	$0
Net debt / EBITDA	-6.72×	13.17×	18.7×	4.48×	3.46×	3.72×	0.41×	0×
Cash conversion cycle (days)	118	89	140	136	113	94	100	0