Virco Mfg. Corporation (VIRC) 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

+282.1%

$23.73

vs $6.21 price

Levered DCF

$10.74

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

2.08

Grey 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	FY2022	FY2021	FY2020	FY2019
P/E	43.69×	8.26×	8.94×	4.76×	-3.13×	-20.5×	27.6×	-42.4×
P/B	1.04×	1.63×	2.14×	1.16×	1×	0.83×	1.18×	1.15×
P/S	0.55×	0.67×	0.73×	0.34×	0.26×	0.3×	0.33×	0.33×
EV / EBITDA	13.74×	5.61×	5.45×	8.02×	39.98×	21.97×	9.78×	12.54×
Gross margin	40.7%	43.1%	43.1%	36.9%	33.0%	35.9%	37.1%	33.4%
Operating margin	1.8%	10.5%	11.8%	4.6%	-0.2%	0.5%	3.1%	1.2%
Net margin	1.3%	8.1%	8.1%	7.2%	-8.2%	-1.5%	1.2%	-0.8%
Current ratio	3.09×	2.98×	2.31×	1.84×	1.9×	2.31×	2.32×	1.96×
Debt / equity	0.38×	0.38×	0.13×	0.57×	0.75×	0.65×	0.8×	0.38×
Interest coverage	12.2×	79.83×	11.9×	5.38×	-0.28×	0.48×	2.4×	1.06×
Dividend yield	1.4%	0.8%	0.2%	0.0%	0.0%	0.0%	0.0%	1.4%
Payout ratio	61.4%	6.8%	1.5%	0.0%	0.0%	0.0%	0.0%	-57.6%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	2.4%	19.8%	24.0%	24.3%	-31.9%	-4.1%	4.3%	-2.8%
Return on invested capital	1.8%	13.3%	21.0%	8.9%	-0.3%	0.5%	4.2%	2.4%
Return on assets	1.5%	11.3%	15.0%	11.0%	-12.0%	-1.8%	1.7%	-1.3%
Free cash flow yield	-6.1%	15.0%	11.1%	-9.0%	-7.2%	12.5%	8.6%	-4.6%
Earnings yield	2.3%	12.1%	11.2%	20.9%	-31.9%	-4.9%	3.7%	-2.5%
Enterprise value	$136.1M	$193.3M	$201.9M	$116.7M	$81.4M	$80.2M	$107.2M	$86.1M
Net debt / EBITDA	2.62×	0.43×	0.18×	2.58×	16.72×	9.58×	3.89×	3.01×
Cash conversion cycle (days)	184	129	140	149	117	135	121	105