PepGen Inc. (PEPG) 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

-56.9%

$1.01

vs $2.35 price

Levered DCF

$1.03

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

-0.25

Distress zone

Rating

C+

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
P/E	-3.07×	-1.33×	-2.06×	-3.02×	-10.57×	-24.32×	-214.48×
P/B	1.86×	1.01×	1.49×	1.16×	2.17×	10.18×	74.64×
P/S	0×	0×	0×	0×	0×	0×	0×
EV / EBITDA	-2.62×	-1×	-1.31×	-0.8×	-5.75×	-50.77×	-228.49×
Gross margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Operating margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Net margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Current ratio	11.94×	7.41×	6.43×	9.88×	13.56×	12.31×	11.58×
Debt / equity	0.12×	0.16×	0.19×	0.14×	0×	0×	0×
Interest coverage	0×	0×	0×	0×	0×	0×	0×
Dividend yield	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%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-60.8%	-75.9%	-72.5%	-38.5%	-20.5%	-19.3%	-34.8%
Return on invested capital	-56.9%	-70.7%	-66.0%	-33.5%	-20.3%	-19.1%	-35.0%
Return on assets	-51.6%	-59.6%	-55.0%	-31.8%	-19.0%	-17.8%	-32.1%
Free cash flow yield	-29.8%	-69.2%	-44.2%	-30.1%	-8.0%	-1.7%	-0.3%
Earnings yield	-32.6%	-75.2%	-48.6%	-33.0%	-9.5%	-1.9%	-0.5%
Enterprise value	$231.4M	$88.9M	$101.1M	$51.9M	$155.8M	$89.7M	$285.2M
Net debt / EBITDA	0.49×	0.35×	0.78×	2.42×	4.9×	5.53×	2.8×
Cash conversion cycle (days)	-215	-425	-310	0	0	0	-486