Select Water Solutions, Inc. (WTTR) 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

+39.2%

$26.06

vs $18.72 price

Levered DCF

$47.16

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

3.04

Safe zone

Rating

B-

Overall 3 / 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	50.1×	42.71×	10.4×	18.12×	-12.98×	-1.03×	309.33×	12.9×
P/B	1.33×	1.65×	1×	1.14×	0.93×	0.59×	0.92×	0.56×
P/S	0.76×	0.9×	0.49×	0.63×	0.72×	0.58×	0.67×	0.31×
EV / EBITDA	6.41×	6.67×	4.66×	5.44×	11.95×	-0.85×	6.75×	2.26×
Gross margin	14.0%	15.1%	14.6%	11.6%	2.7%	-4.8%	11.5%	13.0%
Operating margin	2.5%	3.8%	3.9%	2.8%	-8.6%	-65.2%	1.8%	4.0%
Net margin	1.5%	2.1%	4.7%	3.5%	-5.5%	-56.0%	0.2%	2.4%
Current ratio	1.57×	1.65×	2.15×	2.24×	2.44×	3.96×	2.74×	2.4×
Debt / equity	0.46×	0.17×	0.07×	0.1×	0.11×	0.13×	0.1×	0.08×
Interest coverage	1.54×	7.82×	13.93×	14.5×	-38.31×	-184.82×	8.58×	11.61×
Dividend yield	3.1%	2.3%	3.2%	0.7%	0.0%	0.0%	0.0%	0.0%
Payout ratio	158.6%	97.1%	33.5%	12.5%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	2.6%	3.9%	9.6%	6.3%	-7.1%	-57.1%	0.3%	4.4%
Return on invested capital	2.5%	3.4%	6.0%	3.8%	-8.2%	-49.1%	1.3%	5.1%
Return on assets	1.3%	2.2%	6.1%	3.9%	-4.4%	-38.7%	0.2%	2.7%
Free cash flow yield	-7.5%	4.7%	19.3%	-4.4%	-10.3%	24.2%	10.9%	14.3%
Earnings yield	2.0%	2.3%	9.6%	5.5%	-7.7%	-97.1%	0.3%	7.8%
Enterprise value	$1.4B	$1.4B	$770M	$947.5M	$529.6M	$255.2M	$873.5M	$514.1M
Net debt / EBITDA	1.6×	0.53×	-0.02×	0.42×	-0.42×	0.31×	0.1×	0.2×
Cash conversion cycle (days)	64	48	72	88	90	77	61	81