Tyson Foods, Inc. (TSN) 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

+58.6%

$90.46

vs $57.03 price

Levered DCF

$60.65

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

3.2

Safe zone

Rating

B-

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	39.85×	25.84×	-27×	7.18×	9.21×	10.44×	15.81×	7.23×
P/B	0.85×	0.92×	0.79×	0.97×	1.62×	1.41×	2.24×	1.68×
P/S	0.28×	0.32×	0.27×	0.36×	0.61×	0.5×	0.74×	0.54×
EV / EBITDA	8.94×	8.42×	22.91×	4.62×	6.25×	7.24×	10.7×	7.7×
Gross margin	6.5%	6.8%	5.0%	12.5%	13.9%	12.5%	11.8%	12.7%
Operating margin	2.0%	2.6%	-0.7%	8.3%	9.3%	7.0%	6.7%	7.6%
Net margin	0.9%	1.5%	-1.2%	6.1%	6.5%	4.8%	4.8%	7.6%
Current ratio	1.55×	2.04×	1.34×	1.81×	1.55×	1.79×	1.27×	1.13×
Debt / equity	0.49×	0.53×	0.52×	0.42×	0.53×	0.74×	0.86×	0.77×
Interest coverage	2.45×	2.93×	-1.11×	12.08×	10.27×	6.2×	6.12×	8.66×
Dividend yield	4.5%	4.0%	4.7%	3.4%	2.2%	2.8%	1.7%	2.0%
Payout ratio	147.0%	85.5%	-103.4%	20.2%	20.9%	29.2%	26.6%	14.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	2.6%	4.4%	-3.6%	16.4%	17.2%	13.5%	14.5%	23.6%
Return on invested capital	2.3%	3.3%	-1.2%	10.8%	10.7%	7.6%	8.0%	11.7%
Return on assets	1.3%	2.2%	-1.8%	8.8%	8.4%	6.0%	6.1%	10.4%
Free cash flow yield	7.6%	8.6%	-1.3%	4.2%	9.2%	12.4%	4.0%	8.2%
Earnings yield	3.1%	4.7%	-4.5%	16.9%	10.6%	9.6%	6.5%	14.1%
Enterprise value	$23B	$25B	$23.3B	$26.4B	$35.5B	$31.4B	$42.7B	$31.1B
Net debt / EBITDA	2.95×	2.71×	8.79×	1.28×	1.2×	2.28×	2.87×	2.38×
Cash conversion cycle (days)	39	37	37	41	38	36	38	35