Vestis Corporation (VSTS) 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

-28.8%

$10.55

vs $14.83 price

Levered DCF

$10.80

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.82

Grey zone

Rating

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
P/E	-16.29×	94.44×	11.84×	17.66×	33.77×	22.65×
P/B	0.77×	2.2×	2.88×	1.07×	1.08×	0×
P/S	0.24×	0.71×	0.89×	0.93×	1.03×	0.98×
EV / EBITDA	10.76×	11.14×	10.22×	8.08×	11.54×	0×
Gross margin	26.5%	29.1%	30.3%	28.9%	28.1%	29.2%
Operating margin	2.4%	5.6%	7.7%	7.2%	3.9%	5.8%
Net margin	-1.5%	0.7%	7.5%	5.3%	3.0%	4.4%
Current ratio	2.08×	1.78×	2.58×	2.45×	2.43×	0×
Debt / equity	1.64×	1.53×	1.92×	0.08×	0.08×	0×
Interest coverage	0.7×	1.25×	21,790.9×	84.17×	0×	726.8×
Dividend yield	2.1%	1.0%	66.9%	5.4%	3.8%	5.7%
Payout ratio	-34.4%	94.7%	792.3%	94.9%	128.7%	128.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	-4.6%	2.3%	24.3%	6.1%	3.2%	0.0%
Return on invested capital	2.3%	4.1%	6.1%	5.2%	2.7%	0.0%
Return on assets	-1.4%	0.7%	6.8%	4.5%	2.4%	0.0%
Free cash flow yield	0.9%	19.8%	7.1%	6.3%	6.1%	6.9%
Earnings yield	-6.0%	1.1%	8.4%	5.7%	2.9%	4.4%
Enterprise value	$2.1B	$3.3B	$4.2B	$2.7B	$2.7B	$0
Net debt / EBITDA	7.27×	4.51×	4.05×	0.48×	0.61×	0×
Cash conversion cycle (days)	99	96	132	128	135	0