Voyager Technologies, Inc. (VOYG) 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

-162.8%

-$16.15

vs $25.70 price

Levered DCF

-$15.23

After debt service

Piotroski score

1 / 9

Weak

Altman Z-score

1.01

Distress zone

Rating

D+

Overall 1 / 5

Ratios by fiscal year

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

Metric	FY2025	FY2024	FY2023
P/E	-13.14×	-39.22×	-76.32×
P/B	3.98×	138.22×	-263.61×
P/S	9.17×	22.81×	24.17×
EV / EBITDA	-16.76×	-85.53×	-2,499.7×
Gross margin	12.8%	24.2%	20.4%
Operating margin	-61.9%	-33.6%	-10.4%
Net margin	-63.0%	-43.1%	-18.7%
Current ratio	4.37×	1.16×	0.62×
Debt / equity	1.22×	4.13×	-6.92×
Interest coverage	-15.11×	-4.03×	-1.34×
Dividend yield	1.8%	0.0%	0.0%
Payout ratio	-26.3%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023
Return on equity	-27.3%	-260.9%	203.9%
Return on invested capital	-11.1%	-28.8%	-11.2%
Return on assets	-10.0%	-25.1%	-13.5%
Free cash flow yield	-13.5%	-3.3%	-1.0%
Earnings yield	-6.9%	-1.9%	-0.8%
Enterprise value	$1.5B	$3.3B	$3.3B
Net debt / EBITDA	0.27×	-1.09×	-41.89×
Cash conversion cycle (days)	71	12	53