Penguin Solutions, Inc. (PENG) 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

-78.0%

$10.47

vs $47.50 price

Levered DCF

$4.12

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

2.08

Grey zone

Rating

B+

Overall 3 / 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	17.37×	83.21×	-19.3×	-5.11×	14.3×	43.86×	-772×	17.23×
P/B	3.62×	2.15×	2.59×	4.3×	2.57×	3.02×	3.28×	3.24×
P/S	1.51×	0.94×	0.86×	0.66×	0.68×	0.89×	0.83×	0.73×
EV / EBITDA	18.51×	13.89×	21.53×	21.12×	11.39×	56.15×	16.4×	8.56×
Gross margin	27.7%	28.8%	29.3%	28.8%	28.0%	22.5%	19.3%	19.6%
Operating margin	9.6%	5.4%	1.6%	0.6%	4.8%	-1.5%	3.7%	7.3%
Net margin	10.4%	1.6%	-4.5%	-13.0%	4.8%	2.0%	-0.1%	4.2%
Current ratio	1.88×	2.25×	2.65×	2.13×	2.23×	1.63×	1.97×	1.99×
Debt / equity	1.17×	1.23×	1.85×	3.85×	1.75×	1.28×	0.79×	0.76×
Interest coverage	378.07×	10.16×	0.64×	0.24×	2.76×	-0.92×	2.76×	4.3×
Dividend yield	0.0%	0.6%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	36.4%	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	25.0%	3.6%	-13.4%	-84.3%	17.9%	6.9%	-0.4%	18.8%
Return on invested capital	10.1%	3.7%	1.6%	-0.2%	3.6%	-2.0%	-1.0%	14.1%
Return on assets	6.5%	1.3%	-3.6%	-12.5%	4.2%	1.6%	-0.1%	7.3%
Free cash flow yield	-6.2%	7.8%	5.7%	6.8%	8.9%	14.6%	5.9%	15.4%
Earnings yield	6.9%	1.7%	-5.2%	-19.6%	7.0%	2.3%	-0.1%	5.8%
Enterprise value	$2.8B	$1.6B	$1.4B	$1.4B	$1.3B	$1.1B	$997.1M	$994.6M
Net debt / EBITDA	1.31×	2.48×	5.45×	7.17×	2.98×	8.85×	1.17×	0.93×
Cash conversion cycle (days)	127	78	65	70	82	80	47	53