Whirlpool Corporation (WHR) 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

-87.4%

$3.91

vs $31.14 price

Levered DCF

$51.45

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

1.16

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	12.7×	-19.5×	13.92×	-5.3×	8.17×	10.52×	7.94×	-39.29×
P/B	1.48×	2.35×	2.84×	3.39×	3.01×	2.91×	2.94×	3.13×
P/S	0.26×	0.38×	0.34×	0.4×	0.66×	0.58×	0.46×	0.34×
EV / EBITDA	9.67×	24.59×	9.94×	-25.18×	5.85×	6.62×	5.68×	14.32×
Gross margin	15.2%	15.4%	16.4%	15.3%	20.1%	19.5%	16.0%	15.9%
Operating margin	4.7%	5.2%	6.2%	6.1%	10.7%	9.8%	5.5%	5.5%
Net margin	2.0%	-1.9%	2.5%	-7.7%	8.1%	5.5%	5.8%	-0.9%
Current ratio	0.76×	0.72×	0.89×	1.08×	1.14×	1.1×	0.88×	0.82×
Debt / equity	2.88×	2.73×	3.32×	3.51×	1.24×	1.6×	1.81×	2.63×
Interest coverage	2.13×	2.43×	3.42×	6.34×	13.39×	10.08×	5.96×	3.88×
Dividend yield	7.4%	6.1%	5.7%	4.9%	2.3%	2.7%	3.2%	4.3%
Payout ratio	94.3%	-118.9%	79.8%	-25.7%	19.0%	28.9%	25.8%	-167.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.6%	-12.0%	20.4%	-65.0%	36.8%	27.7%	37.1%	-8.0%
Return on invested capital	4.9%	8.0%	9.3%	10.5%	15.1%	11.3%	7.6%	10.9%
Return on assets	2.0%	-2.0%	2.8%	-8.9%	8.8%	5.3%	6.3%	-1.0%
Free cash flow yield	2.3%	6.1%	5.5%	10.4%	11.3%	9.6%	7.4%	8.9%
Earnings yield	7.8%	-5.1%	7.2%	-19.2%	12.2%	9.5%	12.6%	-2.5%
Enterprise value	$11.2B	$12.4B	$13B	$14.1B	$17.6B	$14.6B	$13.2B	$11.7B
Net debt / EBITDA	6.19×	12.05×	4.81×	-11.1×	1×	1.49×	1.64×	5.51×
Cash conversion cycle (days)	-9	-10	-2	1	-5	-1	-6	-2