Qiagen N.V. (QGEN) 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

+16.0%

$58.46

vs $50.38 price

Levered DCF

$81.10

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

3.98

Safe zone

Rating

A-

Overall 4 / 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	23.21×	111.56×	26.2×	24.15×	22.22×	161.33×	-179.21×	41.31×
P/B	2.61×	2.64×	2.5×	3.2×	4×	4.22×	2.95×	2.97×
P/S	4.71×	4.76×	4.84×	5.18×	5.5×	6.31×	4.91×	5.21×
EV / EBITDA	14.86×	28.14×	15.3×	15.89×	15.21×	18.36×	37.7×	17.65×
Gross margin	61.8%	48.9%	62.8%	64.7%	64.4%	65.9%	65.9%	66.6%
Operating margin	24.9%	4.9%	20.9%	24.8%	28.0%	20.7%	-1.7%	17.8%
Net margin	20.3%	4.2%	17.4%	19.8%	22.8%	19.2%	-2.7%	12.7%
Current ratio	3.9×	3.61×	1.99×	2.46×	1.39×	2.84×	1.65×	2.22×
Debt / equity	0.44×	0.45×	0.44×	0.58×	0.68×	0.7×	0.68×	0.83×
Interest coverage	15.65×	2.23×	7.68×	9.11×	11.57×	5.42×	-0.35×	3.96×
Dividend yield	0.6%	3.1%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	12.8%	351.6%	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	FY2018
Return on equity	11.2%	2.3%	9.0%	12.2%	16.6%	12.8%	-1.6%	7.2%
Return on invested capital	7.8%	1.3%	5.8%	7.7%	9.4%	5.9%	-0.3%	4.3%
Return on assets	6.7%	1.5%	5.6%	6.7%	8.3%	6.1%	-0.8%	3.3%
Free cash flow yield	4.6%	5.4%	3.1%	5.1%	3.5%	1.6%	0.7%	2.7%
Earnings yield	4.3%	0.9%	3.6%	3.8%	4.1%	3.0%	-0.6%	2.4%
Enterprise value	$10.7B	$10.4B	$10.5B	$12.4B	$13.6B	$13.1B	$8.6B	$8.8B
Net debt / EBITDA	1.14×	2.57×	1.48×	1.66×	1.38×	1.88×	4.83×	1.98×
Cash conversion cycle (days)	175	155	253	199	179	194	176	165