Solaris Energy Infrastructure, Inc. (SEI) 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

-588.9%

-$325.31

vs $66.54 price

Levered DCF

-$246.72

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.45

Distress zone

Rating

C-

Overall 1 / 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	66.62×	56.43×	10.21×	15.28×	-163.75×	-8.06×	8.28×	7.56×
P/B	3.41×	2.33×	1.15×	1.45×	0.99×	1.17×	1.6×	1.56×
P/S	3.09×	2.64×	0.81×	0.98×	1.27×	2.29×	1.75×	1.57×
EV / EBITDA	14.33×	10.86×	3.23×	4.49×	6.44×	-5.57×	2.7×	2.54×
Gross margin	45.9%	25.9%	26.9%	21.8%	10.4%	9.9%	52.6%	59.8%
Operating margin	21.8%	16.9%	17.0%	13.1%	-0.2%	-58.2%	44.7%	50.3%
Net margin	4.8%	5.0%	8.3%	6.6%	-0.5%	-28.5%	21.5%	21.5%
Current ratio	2.96×	3.83×	1.8×	1.59×	2.77×	4.04×	5.77×	2.29×
Debt / equity	1.91×	0.92×	0.23×	0.09×	0.04×	0.04×	0.03×	0.07×
Interest coverage	4.91×	4.47×	15.09×	85.49×	-1.57×	-369.75×	170.24×	265.47×
Dividend yield	1.1%	1.8%	6.0%	4.4%	6.7%	8.1%	4.6%	1.5%
Payout ratio	72.1%	92.4%	57.8%	65.2%	-1562.2%	-65.4%	37.0%	11.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	5.3%	4.4%	11.8%	9.8%	-0.4%	-14.6%	19.7%	21.4%
Return on invested capital	5.4%	3.9%	9.5%	8.3%	-0.1%	-13.0%	18.7%	20.4%
Return on assets	1.4%	1.4%	5.2%	4.6%	-0.2%	-7.1%	10.3%	9.3%
Free cash flow yield	-22.7%	-15.6%	10.1%	-4.3%	-1.6%	16.7%	19.0%	-14.4%
Earnings yield	1.6%	1.9%	10.3%	6.8%	-0.4%	-12.5%	12.3%	13.7%
Enterprise value	$2.6B	$1B	$278.3M	$324.2M	$172.7M	$183.2M	$363.7M	$298.6M
Net debt / EBITDA	3.92×	2.24×	0.49×	0.16×	-1.08×	1.59×	-0.43×	-0.1×
Cash conversion cycle (days)	-8	68	49	51	59	41	69	80