Phreesia, Inc. (PHR) 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

+269.1%

$46.84

vs $12.69 price

Levered DCF

$70.54

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.05

Distress 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	347.93×	-27.9×	-10.15×	-11.16×	-13.16×	-96.72×	-31×	-3.07×
P/B	2.38×	6.19×	5.53×	6.83×	3.73×	10.02×	6.18×	-0.22×
P/S	1.67×	3.9×	3.9×	7×	7.3×	17.74×	5.04×	0.46×
EV / EBITDA	28.2×	-61.48×	-12.64×	-12.07×	-13.63×	-319.51×	-110.24×	36.67×
Gross margin	67.9%	67.9%	65.2%	61.1%	61.8%	64.8%	64.2%	63.0%
Operating margin	-1.4%	-13.8%	-38.3%	-62.9%	-54.8%	-17.3%	-12.3%	-9.5%
Net margin	0.5%	-13.9%	-38.4%	-62.7%	-55.4%	-18.4%	-16.3%	-15.1%
Current ratio	1.53×	1.78×	1.78×	3.32×	5.65×	4.95×	3.72×	1.18×
Debt / equity	0.3×	0.07×	0.05×	0.03×	0.04×	0.05×	0.23×	-0.15×
Interest coverage	-0.95×	-24.75×	-73.61×	-125.13×	-100.44×	-15.15×	-5.03×	-2.71×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	2.4%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-73.7%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	0.7%	-22.1%	-54.4%	-61.2%	-28.3%	-10.4%	-19.9%	7.1%
Return on invested capital	0.3%	-20.5%	-51.2%	-59.4%	-27.0%	-9.2%	-11.2%	-24.6%
Return on assets	0.3%	-15.1%	-37.0%	-47.6%	-23.9%	-8.4%	-12.8%	-25.4%
Free cash flow yield	8.4%	0.5%	-4.1%	-5.9%	-6.8%	-0.6%	-1.8%	-25.9%
Earnings yield	0.3%	-3.6%	-9.8%	-9.0%	-7.6%	-1.0%	-3.2%	-32.6%
Enterprise value	$830.9M	$1.6B	$1.3B	$1.8B	$1.3B	$2.4B	$562.9M	$77M
Net debt / EBITDA	0.97×	2.6×	0.73×	1.12×	3.23×	26.85×	13.01×	14.64×
Cash conversion cycle (days)	90	49	44	34	53	103	71	76