Paysign, Inc. (PAYS) 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

-88.2%

$1.70

vs $14.40 price

Levered DCF

$28.89

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.68

Grey zone

Rating

A-

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	36.79×	42.12×	23.33×	130.3×	-29.96×	-24.42×	63.44×	70.4×
P/B	5.78×	5.28×	6×	8.24×	6.28×	17.27×	24.61×	20.03×
P/S	3.42×	2.75×	3.11×	3.53×	2.77×	9.48×	13.89×	7.78×
EV / EBITDA	14.89×	15.08×	20.86×	45.9×	-69.94×	-38.9×	58.79×	49.57×
Gross margin	49.2%	55.1%	51.1%	55.1%	49.9%	38.6%	55.5%	48.7%
Operating margin	8.8%	1.7%	-0.4%	0.9%	-9.3%	-34.6%	17.6%	10.6%
Net margin	9.2%	6.5%	13.7%	2.7%	-9.2%	-37.9%	21.5%	11.0%
Current ratio	1.11×	1.09×	1.08×	1.1×	1.1×	1.15×	1.4×	1.22×
Debt / equity	0.29×	0.1×	0.14×	0.23×	0.31×	0.33×	0×	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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	15.6%	12.5%	26.4%	6.3%	-21.0%	-69.1%	38.1%	28.5%
Return on invested capital	8.7%	2.8%	-0.6%	1.6%	-16.1%	-47.5%	31.6%	27.8%
Return on assets	2.7%	2.1%	4.4%	0.9%	-3.2%	-13.5%	13.9%	7.2%
Free cash flow yield	18.3%	8.4%	14.0%	15.8%	15.4%	4.6%	2.0%	7.9%
Earnings yield	2.7%	2.4%	4.4%	0.8%	-3.3%	-4.0%	1.5%	1.4%
Enterprise value	$273.3M	$152.8M	$133.3M	$128.2M	$78.2M	$225.1M	$471.8M	$176.6M
Net debt / EBITDA	-0.38×	-0.77×	-2.14×	-2.16×	3.02×	0.6×	-1.2×	-1.58×
Cash conversion cycle (days)	-293	-264	-293	-128	-101	-46	-27	756