Septerna Inc (SEPN) 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

-147.7%

-$20.59

vs $43.20 price

Levered DCF

-$31.95

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

6.86

Safe zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022
P/E	-25.35×	-11.87×	735.4×	0×
P/B	3.23×	2.03×	-10.87×	0×
P/S	26.85×	792.3×	2,762.98×	0×
EV / EBITDA	-24.05×	-9.01×	-7.63×	0×
Gross margin	100.0%	100.0%	100.0%	0.0%
Operating margin	-175.8%	-7518.4%	1374.2%	0.0%
Net margin	-106.4%	-6678.9%	2768.2%	0.0%
Current ratio	4.73×	27.77×	16.3×	5.75×
Debt / equity	0.06×	0.06×	-0.33×	-0.02×
Interest coverage	0×	0×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022
Return on equity	-12.8%	-17.1%	-10.9%	0.0%
Return on invested capital	-15.8%	-18.0%	1.4%	0.0%
Return on assets	-8.2%	-15.7%	3.2%	0.0%
Free cash flow yield	8.9%	-8.2%	-10.0%	0.0%
Earnings yield	-4.0%	-8.4%	1.0%	0.0%
Enterprise value	$1.1B	$639M	$341.3M	-$29.9M
Net debt / EBITDA	2.05×	3×	1.7×	0×
Cash conversion cycle (days)	109	382	55,055	0