Utz Brands, Inc. (UTZ) 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

-59.1%

$5.85

vs $14.30 price

Levered DCF

$26.13

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

0.89

Distress zone

Rating

C+

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	1,133.7×	81.37×	-52.39×	-3,236.73×	62.74×	-13.32×	-35.45×	-17.55×
P/B	1.27×	1.81×	1.97×	1.81×	1.91×	2.81×	-22.06×	1.26×
P/S	0.63×	0.9×	0.92×	0.9×	1.1×	1.61×	0.75×	0.7×
EV / EBITDA	15.61×	11.83×	22.67×	23.98×	16.97×	27.03×	22.62×	11.79×
Gross margin	22.4%	35.1%	31.7%	31.9%	32.5%	35.1%	33.0%	34.5%
Operating margin	6.8%	4.2%	1.1%	0.4%	0.9%	3.3%	5.0%	2.5%
Net margin	0.1%	1.1%	-1.7%	-0.0%	1.7%	-10.0%	-2.1%	-4.0%
Current ratio	1.19×	1.11×	1.42×	1.57×	1.48×	1.22×	1.71×	8.48×
Debt / equity	1.64×	1.34×	1.47×	1.41×	1.34×	1.47×	-26.11×	0×
Interest coverage	2.29×	1.31×	0.26×	0.12×	0.3×	0.8×	0×	0×
Dividend yield	2.5%	1.7%	1.4%	1.4%	0.9%	0.6%	2.0%	1.9%
Payout ratio	2787.5%	136.0%	-74.4%	-4376.8%	57.9%	-9.7%	-70.9%	-33.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	0.1%	2.3%	-3.7%	-0.1%	3.0%	-17.5%	62.1%	-7.1%
Return on invested capital	3.9%	1.0%	0.6%	0.1%	0.2%	1.3%	5.7%	4.4%
Return on assets	0.0%	0.6%	-0.9%	-0.0%	0.8%	-3.7%	-2.1%	-6.9%
Free cash flow yield	1.0%	0.6%	1.6%	-3.1%	1.1%	0.5%	1.4%	0.5%
Earnings yield	0.1%	1.3%	-1.9%	-0.0%	1.6%	-6.2%	-2.8%	-5.7%
Enterprise value	$1.9B	$2.2B	$2.3B	$2.2B	$2.2B	$2.3B	$1.2B	$538.2M
Net debt / EBITDA	8.38×	4.86×	9.4×	10.07×	6.79×	8.92×	12.14×	-0.02×
Cash conversion cycle (days)	1	12	28	39	35	49	52	-0