Perimeter Solutions, Inc. (PRM) 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

-113.0%

-$3.68

vs $28.21 price

Levered DCF

$7.33

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

0.77

Distress zone

Rating

C-

Overall 1 / 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	-20.09×	-315.56×	10.45×	16.04×	-3.3×	80×	-44.44×
P/B	3.61×	1.61×	0.62×	1.29×	2.02×	6.47×	7.19×
P/S	6.27×	3.32×	2.21×	4.08×	6.03×	5.55×	7.88×
EV / EBITDA	-36.38×	39.73×	6.77×	9.87×	-4.95×	19.68×	48.94×
Gross margin	57.5%	56.5%	39.8%	35.7%	47.6%	47.7%	35.1%
Operating margin	-30.8%	-0.7%	29.3%	36.1%	-165.6%	21.0%	-2.4%
Net margin	-31.6%	-1.1%	21.0%	25.5%	-182.6%	7.1%	-17.6%
Current ratio	3.22×	6.31×	4.56×	4.16×	3.7×	4.04×	2.57×
Debt / equity	0.62×	0.6×	0.6×	0.6×	0.61×	2.36×	2.78×
Interest coverage	-5.13×	-0.09×	2.28×	3.05×	-13.21×	1.7×	-0.11×
Dividend yield	0.0%	0.0%	0.0%	0.0%	2.7%	0.0%	0.7%
Payout ratio	0.0%	0.0%	0.0%	0.0%	-9.1%	0.0%	-29.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-18.2%	-0.5%	5.9%	8.1%	-61.2%	8.3%	-16.0%
Return on invested capital	-7.1%	-0.0%	4.2%	5.1%	-24.2%	4.5%	-0.4%
Return on assets	-7.8%	-0.2%	2.9%	3.7%	-25.7%	2.1%	-3.7%
Free cash flow yield	5.1%	9.3%	-1.3%	-3.3%	2.9%	3.4%	-0.5%
Earnings yield	-5.0%	-0.3%	9.5%	6.2%	-30.3%	1.3%	-2.2%
Enterprise value	$4.5B	$2.4B	$1.4B	$2B	$2.6B	$2.6B	$2.6B
Net debt / EBITDA	-3.1×	8.33×	3.21×	2.71×	-0.83×	5.13×	13.52×
Cash conversion cycle (days)	192	183	280	194	178	144	182