SCE Trust II TR PFD SECS 5.1% (SCE.PG) 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

+2635.1%

$422.58

vs $15.45 price

Levered DCF

$301.84

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

—

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	1.53×	5.81×	6.58×	11.13×	10.36×	10.81×	6.05×	-19.88×
P/B	0.39×	0.48×	0.51×	0.44×	0.6×	0.67×	0.64×	0.6×
P/S	0.35×	0.42×	0.47×	0.4×	0.64×	0.69×	0.69×	0.5×
EV / EBITDA	1.33×	4.76×	5.22×	5.3×	5.74×	7.78×	5.56×	96.69×
Gross margin	0.0%	0.0%	100.0%	35.5%	38.4%	37.1%	36.4%	35.2%
Operating margin	36.7%	16.6%	0.0%	-0.0%	-0.0%	-1.0%	-0.0%	-0.1%
Net margin	24.3%	8.8%	7.1%	3.6%	6.2%	6.4%	11.4%	-2.5%
Current ratio	0.28×	0.32×	0.33×	0.22×	0.35×	0.06×	0.31×	0.3×
Debt / equity	0.2×	0.3×	0.28×	0.26×	0.15×	0.23×	0.21×	0.17×
Interest coverage	-4.61×	-1.57×	-0×	0×	0×	0.15×	0.01×	0.01×
Dividend yield	2.0%	2.2%	17.7%	1.6%	1.1%	15.4%	6.1%	1.9%
Payout ratio	2.9%	10.9%	117.0%	18.0%	11.5%	166.5%	37.1%	-38.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	26.7%	9.9%	7.7%	3.9%	5.8%	6.2%	10.6%	-3.0%
Return on invested capital	22.1%	14.0%	0.0%	-0.0%	-0.0%	-0.7%	-0.0%	-0.0%
Return on assets	19.0%	7.0%	5.6%	2.9%	4.6%	4.7%	8.0%	-2.4%
Free cash flow yield	-10.5%	-9.3%	-22.4%	-37.6%	-57.4%	-43.0%	-58.5%	-21.2%
Earnings yield	68.9%	20.7%	15.2%	9.0%	9.7%	9.2%	16.5%	-5.0%
Enterprise value	$10.3B	$12.2B	$12.2B	$10.9B	$12B	$12.7B	$11.2B	$7.9B
Net debt / EBITDA	0.45×	1.84×	1.83×	1.98×	1.15×	2×	1.35×	20.04×
Cash conversion cycle (days)	0	0	0	0	0	0	0	0