UniFirst Corporation (UNF) 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

-58.8%

$105.30

vs $255.64 price

Levered DCF

$112.68

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

6.67

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

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

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	44.74×	21.35×	23.39×	30.14×	32.07×	27.5×	26.41×	20.05×
P/B	1.84×	1.46×	1.68×	1.56×	1.73×	2.22×	2.06×	2.19×
P/S	1.62×	1.3×	1.46×	1.4×	1.66×	2.27×	1.99×	1.99×
EV / EBITDA	14.04×	8.98×	10.42×	11.96×	12.3×	14×	13.22×	9.4×
Gross margin	36.6%	30.8%	34.9%	33.7%	34.7%	37.5%	35.4%	37.0%
Operating margin	5.4%	7.6%	7.6%	6.0%	6.7%	10.7%	9.6%	12.8%
Net margin	4.3%	6.1%	6.0%	4.6%	5.2%	8.3%	7.5%	9.9%
Current ratio	3.14×	3.12×	3.25×	3.14×	4.36×	4.33×	4.61×	4.81×
Debt / equity	0.04×	0.03×	0.03×	0.03×	0.03×	0.02×	0.02×	0×
Interest coverage	0×	0×	0×	0×	0×	0×	0×	0×
Dividend yield	0.6%	0.8%	0.7%	0.7%	0.6%	0.4%	0.4%	0.2%
Payout ratio	23.0%	16.6%	16.0%	21.3%	20.1%	12.0%	11.6%	4.6%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	4.9%	6.8%	6.9%	5.2%	5.4%	8.1%	7.8%	10.9%
Return on invested capital	4.1%	5.6%	5.8%	4.3%	4.7%	7.0%	6.6%	9.4%
Return on assets	3.8%	5.3%	5.4%	4.0%	4.3%	6.3%	6.2%	8.7%
Free cash flow yield	1.7%	4.5%	3.8%	1.4%	-0.7%	1.9%	4.7%	4.5%
Earnings yield	2.7%	4.7%	4.1%	3.3%	3.1%	3.6%	3.8%	5.0%
Enterprise value	$4B	$3B	$3.4B	$3.1B	$3B	$4.2B	$3.7B	$3.2B
Net debt / EBITDA	-0.39×	-0.39×	-0.28×	-0.06×	-1.34×	0.29×	0.3×	-1.13×
Cash conversion cycle (days)	56	103	112	121	126	120	100	107