Pineapple Financial, Inc. (PTIV) 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

-1139.3%

-$8.23

vs $0.79 price

Levered DCF

-$5.05

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

-0.85

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
P/E	-0.74×	-30.81×	-115.38×	-115.38×	-1,376.15×	2,393.62×
P/B	2.95×	93×	180.96×	69.86×	46.71×	2,169.15×
P/S	0.9×	46.67×	129.16×	89.75×	20.05×	94.01×
EV / EBITDA	-0.78×	-39.71×	-140.17×	-130.21×	-1,756.3×	1,293.66×
Gross margin	44.9%	9.4%	6.9%	34.5%	17.8%	41.9%
Operating margin	-98.7%	-142.2%	-111.2%	-75.4%	-1.4%	6.4%
Net margin	-121.8%	-152.6%	-112.3%	-78.0%	-1.5%	5.3%
Current ratio	0.77×	0.64×	1.45×	5.73×	16.07×	1.94×
Debt / equity	1.47×	0.72×	0.86×	0.22×	0.04×	0.09×
Interest coverage	-8.77×	-40.92×	-49.4×	-28.83×	-8.95×	0×
Dividend yield	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%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	-401.3%	-304.1%	-157.3%	-60.7%	-3.4%	121.7%
Return on invested capital	-92.6%	-133.8%	-69.1%	-48.1%	-2.9%	93.7%
Return on assets	-67.2%	-100.1%	-60.7%	-43.7%	-3.1%	61.5%
Free cash flow yield	-70.6%	-2.3%	-1.1%	-0.9%	0.2%	0.0%
Earnings yield	-135.9%	-3.3%	-0.9%	-0.9%	-0.1%	0.1%
Enterprise value	$1.9M	$125.9M	$324M	$320.3M	$316.4M	$339.8M
Net debt / EBITDA	0.33×	-0.13×	-0.35×	1.17×	37.45×	-1.05×
Cash conversion cycle (days)	-460	-148	111	11	2	-27