Saia, Inc. (SAIA) 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

-97.3%

$9.56

vs $360.48 price

Levered DCF

$6.35

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

7.62

Safe zone

Rating

B+

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	34.23×	33.58×	32.9×	15.55×	35.03×	34.18×	21.26×	13.68×
P/B	3.39×	5.26×	6.01×	3.52×	7.27×	4.92×	2.96×	2.07×
P/S	2.7×	3.79×	4.05×	1.99×	3.88×	2.59×	1.35×	0.87×
EV / EBITDA	15.15×	17.94×	17.78×	8.8×	18.68×	15.46×	9.76×	6.4×
Gross margin	16.0%	20.1%	20.8%	21.2%	19.7%	15.6%	14.0%	13.9%
Operating margin	10.9%	15.0%	16.0%	16.9%	14.6%	9.9%	8.5%	8.5%
Net margin	7.9%	11.3%	12.3%	12.8%	11.1%	7.6%	6.4%	6.3%
Current ratio	1.64×	1.57×	2.01×	1.94×	1.3×	0.99×	0.96×	1.02×
Debt / equity	0.16×	0.14×	0.07×	0.1×	0.13×	0.19×	0.3×	0.18×
Interest coverage	21.42×	53.99×	181.66×	180.19×	104.34×	34.83×	22.81×	26.06×
Dividend yield	0.0%	0.0%	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%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.9%	15.7%	18.3%	22.6%	20.8%	14.4%	13.9%	15.1%
Return on invested capital	8.2%	12.6%	15.3%	18.5%	16.3%	10.8%	9.8%	11.6%
Return on assets	7.3%	11.4%	13.7%	16.4%	13.7%	8.9%	8.0%	9.3%
Free cash flow yield	0.3%	-3.8%	1.2%	1.9%	1.1%	1.7%	-0.6%	2.3%
Earnings yield	2.9%	3.0%	3.0%	6.4%	2.9%	2.9%	4.7%	7.3%
Enterprise value	$9.1B	$12.5B	$11.5B	$5.5B	$8.9B	$4.9B	$2.7B	$1.6B
Net debt / EBITDA	0.66×	0.44×	-0.24×	-0.05×	0.11×	0.51×	0.89×	0.5×
Cash conversion cycle (days)	27	25	17	24	21	22	22	20