Seapeak LLC (SEAL.PB) 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

+129.7%

$57.41

vs $24.99 price

Levered DCF

$24.14

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.56

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	FY2019	FY2018
P/E	149.94×	-28.31×	8.71×	10.04×	10.73×	34.28×	16.26×	665.85×
P/B	1.19×	1.17×	77.67×	49.01×	-43×	-20.02×	-35.33×	640.43×
P/S	4×	3.7×	3.35×	3.18×	3.82×	3.52×	3.37×	3.41×
EV / EBITDA	15.08×	23.63×	7.57×	9.49×	9.47×	12.95×	10.85×	17.15×
Gross margin	40.5%	44.7%	43.8%	43.1%	52.6%	51.4%	51.8%	45.6%
Operating margin	35.1%	-13.3%	43.4%	28.4%	41.2%	38.2%	49.8%	28.9%
Net margin	6.7%	-9.6%	41.9%	35.9%	40.6%	14.8%	25.4%	5.6%
Current ratio	0.42×	0.61×	0.7×	0.55×	0.59×	0.5×	0.71×	0.91×
Debt / equity	1.26×	1.24×	87.41×	77.03×	-49.95×	-27.29×	-57.17×	1,202.92×
Interest coverage	1.35×	-0.53×	1.68×	1.29×	2.08×	1.7×	1.82×	1.15×
Dividend yield	4.9%	10.5%	3.1%	1.3%	5.4%	5.0%	4.1%	4.0%
Payout ratio	294.9%	-404.0%	24.6%	11.4%	51.2%	119.5%	53.9%	248.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	2.0%	-3.0%	971.5%	553.1%	-456.4%	-84.1%	-266.6%	1044.1%
Return on invested capital	4.0%	-1.8%	5.5%	3.1%	5.1%	4.7%	5.7%	2.5%
Return on assets	0.8%	-1.3%	5.4%	3.9%	5.1%	1.8%	2.8%	0.5%
Free cash flow yield	8.3%	5.2%	8.8%	8.5%	6.9%	29.0%	10.1%	-31.9%
Earnings yield	1.7%	-2.6%	12.5%	11.3%	10.6%	4.2%	7.5%	1.6%
Enterprise value	$5.1B	$5.3B	$5B	$4.9B	$4.8B	$4.7B	$5.1B	$4.9B
Net debt / EBITDA	7.56×	11.82×	3.89×	5.64×	5.01×	7.23×	6.58×	11.01×
Cash conversion cycle (days)	9	8	-6	-19	63	21	250	81