Thryv Holdings, Inc. (THRY) 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

+388.6%

$6.06

vs $1.24 price

Levered DCF

$10.00

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

0.03

Distress zone

Rating

B-

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	864.29×	-7.4×	-2.72×	12.03×	13.62×	2.85×	9.89×	11.63×
P/B	1.21×	2.79×	4.63×	1.71×	4.39×	2.16×	12.94×	2.24×
P/S	0.34×	0.67×	0.77×	0.54×	1.24×	0.38×	0.25×	0.33×
EV / EBITDA	5.59×	24.68×	-7.75×	4.56×	6.43×	3.93×	2.86×	2.83×
Gross margin	64.7%	65.2%	63.1%	64.9%	63.4%	60.4%	59.1%	64.3%
Operating margin	10.8%	-4.0%	-21.8%	8.3%	17.1%	13.7%	14.5%	9.0%
Net margin	0.0%	-9.0%	-28.3%	4.5%	9.1%	13.5%	2.5%	2.8%
Current ratio	1×	1.07×	1.01×	1.26×	1.21×	1.78×	1.82×	1.41×
Debt / equity	1.18×	1.5×	2.37×	1.29×	1.9×	2.96×	29.65×	2.28×
Interest coverage	2.44×	-0.71×	-3.24×	1.64×	2.86×	2.22×	2.22×	1.96×
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	0.1%	-37.7%	-169.8%	14.2%	32.3%	75.8%	130.2%	19.3%
Return on invested capital	0.3%	-6.2%	-33.3%	5.7%	13.4%	15.1%	12.0%	11.3%
Return on assets	0.0%	-10.4%	-33.1%	4.6%	7.8%	12.3%	2.6%	3.5%
Free cash flow yield	11.8%	10.2%	16.3%	18.3%	10.4%	48.2%	69.3%	53.9%
Earnings yield	0.1%	-13.5%	-36.7%	8.3%	7.3%	35.1%	10.1%	8.6%
Enterprise value	$509.9M	$828.4M	$1.1B	$1.1B	$2B	$1B	$1.2B	$1.2B
Net debt / EBITDA	2.69×	8.3×	-2.54×	1.93×	1.92×	2.27×	1.99×	1.39×
Cash conversion cycle (days)	55	59	110	96	90	97	97	87