PermRock Royalty Trust (PRT) 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

+7480.8%

$106.13

vs $1.40 price

Levered DCF

$95.19

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

27.82

Safe zone

Rating

Overall 3 / 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	7.15×	8.38×	8.67×	7.63×	11.48×	16.31×	7.37×	4.63×
P/B	1.23×	0.58×	0.7×	1.16×	1×	0.36×	0.73×	0.78×
P/S	6.05×	7.12×	7.48×	7.12×	10.46×	9.96×	6.26×	4.44×
EV / EBITDA	-247.34×	7.98×	8.37×	7.46×	11.3×	10.06×	-130.11×	4.53×
Gross margin	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	280600.3%	197727.4%
Operating margin	84.0%	85.8%	87.1%	93.4%	90.5%	59.9%	84.6%	96.0%
Net margin	84.0%	85.8%	87.1%	93.4%	90.5%	59.9%	84.6%	96.0%
Current ratio	6.01×	2.63×	3.71×	2.02×	2.18×	6.51×	1.97×	1×
Debt / equity	0×	0×	0×	0×	0×	0×	0×	0×
Interest coverage	0×	0×	0×	0×	0×	0×	0×	0×
Dividend yield	15.1%	10.6%	11.6%	13.1%	8.7%	5.6%	13.5%	21.6%
Payout ratio	108.8%	88.1%	100.0%	100.0%	100.0%	93.6%	100.0%	100.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	17.1%	7.0%	8.1%	15.2%	8.7%	2.1%	9.9%	16.9%
Return on invested capital	17.1%	7.0%	8.1%	15.2%	8.7%	2.1%	9.9%	16.9%
Return on assets	17.0%	7.0%	8.1%	15.0%	8.6%	2.1%	9.8%	16.7%
Free cash flow yield	0.0%	0.0%	-7745.5%	-4365.3%	0.0%	32876.2%	15949.2%	0.0%
Earnings yield	13.9%	12.1%	11.6%	13.1%	8.7%	6.0%	13.5%	21.6%
Enterprise value	-$1.2B	$41.2M	$52.4M	$91.8M	$83.3M	$30.6M	-$1.1B	$70.6M
Net debt / EBITDA	-254.54×	-0.31×	-0.22×	-0.16×	-0.25×	-0.39×	-137.51×	-0.09×
Cash conversion cycle (days)	0	0	0	0	0	0	0	0