ServiceTitan, Inc. (TTAN) 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

+33.8%

$113.01

vs $84.44 price

Levered DCF

$225.36

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

24.27

Safe zone

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023
P/E	-45.28×	-12.05×	-34.47×	-29.36×
P/B	4.83×	2.98×	7.22×	6.85×
P/S	7.67×	5.61×	13.54×	17.78×
EV / EBITDA	-104.89×	-28.75×	-89.95×	-49.12×
Gross margin	70.1%	64.9%	61.3%	56.9%
Operating margin	-16.9%	-29.8%	-29.8%	-47.4%
Net margin	-16.6%	-31.0%	-31.8%	-57.6%
Current ratio	3.49×	3.74×	1.99×	2.06×
Debt / equity	0.03×	0.11×	0.21×	0.21×
Interest coverage	-22.53×	-14.82×	-11.13×	-4.07×
Dividend yield	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023
Return on equity	-10.5%	-16.4%	-16.9%	-22.2%
Return on invested capital	-10.2%	-14.1%	-13.0%	-14.4%
Return on assets	-9.2%	-13.5%	-12.9%	-16.8%
Free cash flow yield	1.2%	0.4%	-1.0%	-2.6%
Earnings yield	-2.2%	-5.5%	-2.3%	-3.2%
Enterprise value	$7B	$4.1B	$8.4B	$8.4B
Net debt / EBITDA	5.66×	1.96×	-1.06×	-0.3×
Cash conversion cycle (days)	30	35	31	24