Saga Communications, Inc. (SGA) 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

+123.1%

$17.34

vs $7.77 price

Levered DCF

$26.12

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.88

Grey zone

Rating

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	-8.95×	20.05×	14.36×	15.53×	13.07×	-72.79×	13.63×	14.14×
P/B	0.47×	0.4×	0.79×	0.79×	0.73×	0.74×	0.92×	1.05×
P/S	0.66×	0.59×	1.19×	1.23×	1.32×	1.47×	1.44×	1.55×
EV / EBITDA	-10.9×	5.92×	5.8×	5.4×	4.12×	17.62×	5.43×	6.38×
Gross margin	9.5%	14.2%	20.0%	23.8%	23.2%	14.8%	24.7%	24.9%
Operating margin	-2.0%	2.1%	10.2%	11.4%	13.9%	-1.3%	15.3%	15.8%
Net margin	-7.4%	3.1%	8.4%	8.0%	10.3%	-2.0%	10.8%	11.0%
Current ratio	3.04×	2.84×	2.16×	2.31×	3.88×	5.09×	3.81×	2.96×
Debt / equity	0.03×	0.07×	0×	0×	0×	0.05×	0.05×	0.11×
Interest coverage	-5×	6.77×	66.4×	100.54×	53×	-3.67×	25.59×	20.81×
Dividend yield	9.1%	33.6%	14.8%	14.0%	1.3%	2.6%	4.9%	6.1%
Payout ratio	-81.4%	650.9%	209.2%	215.0%	17.2%	-194.2%	64.9%	86.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-5.2%	2.1%	5.6%	5.2%	5.7%	-1.0%	6.9%	7.4%
Return on invested capital	-0.9%	0.9%	4.2%	4.1%	4.8%	-0.5%	5.7%	6.0%
Return on assets	-3.9%	1.6%	4.1%	3.8%	4.5%	-0.8%	5.3%	5.5%
Free cash flow yield	3.4%	6.4%	8.2%	7.9%	10.5%	6.8%	10.6%	5.3%
Earnings yield	-11.2%	5.2%	7.1%	6.5%	7.8%	-1.4%	7.5%	7.1%
Enterprise value	$52.9M	$60.4M	$105M	$104.2M	$88.3M	$99.7M	$143.3M	$169M
Net debt / EBITDA	3.6×	-0.65×	-1.63×	-1.91×	-2.55×	-7.31×	-1.29×	-0.93×
Cash conversion cycle (days)	36	42	43	43	44	50	47	47