Valmont Industries, Inc. (VMI) 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

-61.3%

$165.43

vs $427.10 price

Levered DCF

$385.47

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

6.28

Safe zone

Rating

A-

Overall 4 / 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	23.29×	17.71×	34.09×	28.09×	26.52×	26.07×	22.16×	26.23×
P/B	5×	4×	3.61×	4.46×	3.74×	3.1×	2.83×	2.34×
P/S	1.99×	1.51×	1.17×	1.62×	1.48×	1.27×	1.17×	0.9×
EV / EBITDA	17.56×	11.03×	15.22×	15.52×	15.49×	12.99×	11.68×	10.4×
Gross margin	30.2%	30.5%	29.6%	25.9%	25.2%	26.4%	24.7%	24.2%
Operating margin	12.7%	12.9%	7.0%	10.0%	8.2%	7.8%	8.2%	7.7%
Net margin	8.5%	8.5%	3.4%	5.8%	5.6%	4.9%	5.3%	3.4%
Current ratio	2.35×	2.07×	2.47×	2.21×	2.24×	2.32×	2.7×	3.28×
Debt / equity	0.57×	0.56×	0.94×	0.65×	0.8×	0.72×	0.76×	0.71×
Interest coverage	12.88×	8.93×	5.13×	9.11×	6.73×	5.5×	5.68×	4.8×
Dividend yield	0.6%	0.8%	1.0%	0.7%	0.8%	1.0%	1.0%	1.4%
Payout ratio	15.0%	13.9%	34.5%	18.3%	21.2%	26.2%	22.3%	35.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	21.5%	22.6%	10.6%	15.9%	14.1%	11.9%	12.8%	8.9%
Return on invested capital	18.5%	15.6%	6.5%	11.0%	8.1%	7.2%	7.6%	7.1%
Return on assets	10.4%	10.5%	4.1%	7.1%	5.7%	4.8%	5.3%	3.7%
Free cash flow yield	3.8%	8.0%	4.3%	3.3%	-0.8%	5.7%	6.5%	3.3%
Earnings yield	4.3%	5.6%	2.9%	3.6%	3.8%	3.8%	4.5%	3.8%
Enterprise value	$8.9B	$6.9B	$6B	$7.9B	$6.1B	$4.1B	$3.8B	$2.9B
Net debt / EBITDA	1.46×	1.13×	2.73×	1.67×	2.37×	1.41×	1.61×	1.57×
Cash conversion cycle (days)	106	103	110	107	128	111	114	108