The ONE Group Hospitality, Inc. (STKS) 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

-6000.9%

-$69.04

vs $1.17 price

Levered DCF

-$83.47

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.76

Distress 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	FY2021	FY2020	FY2019	FY2018
P/E	-0.44×	-2.59×	40.8×	15×	12.49×	-8.41×	4.99×	25.58×
P/B	0.48×	0.44×	2.79×	2.93×	6.39×	4.61×	3.02×	6.78×
P/S	0.07×	0.13×	0.58×	0.64×	1.42×	0.75×	0.86×	0.99×
EV / EBITDA	13.72×	17.28×	10.92×	12.63×	13.01×	34.69×	17.68×	11.04×
Gross margin	11.9%	18.2%	19.8%	21.0%	23.5%	14.7%	20.5%	24.4%
Operating margin	5.4%	1.6%	2.8%	5.1%	7.0%	-9.6%	10.6%	6.8%
Net margin	-11.4%	-2.4%	1.4%	4.3%	11.3%	-9.0%	17.3%	3.8%
Current ratio	0.43×	0.53×	0.8×	1.72×	1.02×	0.84×	0.96×	0.65×
Debt / equity	5.64×	3.12×	2.88×	2.63×	2.16×	6.86×	4.33×	0.82×
Interest coverage	1.07×	0.35×	1.32×	0×	0×	-2.57×	6.55×	4.87×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-79.9%	-7.7%	6.8%	19.4%	51.0%	-55.3%	60.7%	26.2%
Return on invested capital	5.7%	0.9%	3.5%	6.0%	9.5%	-5.2%	7.0%	11.9%
Return on assets	-10.4%	-1.6%	1.5%	4.7%	13.6%	-5.9%	10.1%	5.8%
Free cash flow yield	-49.1%	-30.3%	-11.8%	-3.6%	5.0%	-5.0%	3.9%	2.8%
Earnings yield	-166.1%	-17.5%	2.4%	6.6%	8.0%	-12.0%	20.1%	3.9%
Enterprise value	$702.5M	$703.8M	$371.4M	$332.6M	$501.9M	$241.7M	$239.9M	$93.6M
Net debt / EBITDA	12.64×	15.07×	5.24×	4.88×	2.83×	19.34×	10.05×	1.03×
Cash conversion cycle (days)	2	-0	2	7	3	1	12	8