Tiptree Inc. (TIPT) 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

-106.1%

-$1.07

vs $17.59 price

Levered DCF

-$1.06

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

8.46

Safe zone

Rating

A+

Overall 5 / 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	19.65×	14.49×	55.76×	-60.17×	12.03×	-6.78×	15.36×	8.1×
P/B	1.35×	1.68×	1.67×	1.24×	1.2×	0.48×	0.71×	0.5×
P/S	1,406.18×	0.38×	0.42×	0.35×	0.38×	0.21×	0.37×	0.31×
EV / EBITDA	-15.53×	5.53×	4.99×	2.34×	5.54×	35.13×	7.41×	23.33×
Gross margin	100.0%	58.8%	63.5%	67.6%	72.8%	70.8%	77.7%	75.7%
Operating margin	-9574.6%	7.3%	5.0%	3.9%	5.4%	-4.8%	3.8%	-3.2%
Net margin	7157.2%	2.6%	0.8%	-0.6%	3.2%	-3.6%	2.4%	3.8%
Current ratio	0.44×	0.82×	0.9×	0.9×	0.82×	0×	0×	4.23×
Debt / equity	0.16×	0.82×	1.06×	0.75×	1.1×	1.02×	0.93×	0.91×
Interest coverage	0×	4.63×	3×	1.79×	1.73×	-1.19×	1.08×	-0.73×
Dividend yield	1.3%	3.2%	2.0%	1.6%	1.2%	3.3%	2.0%	2.5%
Payout ratio	26.0%	46.5%	98.4%	-94.0%	14.2%	-19.1%	30.0%	20.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	6.9%	11.7%	3.3%	-2.1%	10.0%	-8.2%	4.6%	6.2%
Return on invested capital	-0.6%	4.5%	3.9%	0.4%	4.0%	-17.1%	17.5%	-0.9%
Return on assets	0.5%	0.9%	0.3%	-0.2%	1.1%	-1.0%	0.8%	1.3%
Free cash flow yield	24.5%	30.8%	8.3%	92.0%	43.9%	78.5%	5.4%	27.8%
Earnings yield	5.1%	6.9%	2.0%	-1.7%	8.3%	-17.2%	6.5%	12.3%
Enterprise value	$736.2M	$1.1B	$669.8M	$251.1M	$706.5M	$397.2M	$517.3M	$462.1M
Net debt / EBITDA	-1.05×	1.75×	-0.19×	-2.24×	1.94×	20.1×	3.38×	13.53×
Cash conversion cycle (days)	0	108	-38	-79	-40	-75	-62	-149