Exzeo Group, Inc. (XZO) 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

-199.5%

-$18.26

vs $18.35 price

Levered DCF

$140.06

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

11.96

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	FY2020	FY2019
P/E	27.87×	56.78×	161.62×	-30.01×	-150.07×	-276.08×
P/B	8.67×	122.99×	26.91×	0×	291.13×	112.43×
P/S	10.16×	14.24×	21.59×	41.8×	36.89×	89.37×
EV / EBITDA	16.84×	46.09×	411.71×	0×	-240.82×	-1,759.31×
Gross margin	60.4%	39.5%	19.2%	-57.6%	4.0%	27.8%
Operating margin	48.8%	28.4%	2.9%	-82.7%	-16.8%	-8.1%
Net margin	38.1%	32.9%	23.5%	-119.9%	-24.0%	-32.4%
Current ratio	3.86×	0×	0×	0×	0×	0×
Debt / equity	0.03×	0.54×	0.93×	0×	3.41×	0.04×
Interest coverage	0×	0×	0×	0×	0×	0×
Dividend yield	0.0%	0.2%	0.4%	0.3%	0.0%	0.0%
Payout ratio	0.0%	6.6%	32.6%	-10.1%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2020	FY2019
Return on equity	32.6%	284.4%	29.3%	0.0%	-189.7%	-40.7%
Return on invested capital	29.9%	1319.2%	147.2%	0.0%	0.0%	0.0%
Return on assets	23.8%	49.2%	3.3%	0.0%	-7.7%	-7.2%
Free cash flow yield	4.4%	9.9%	2.9%	-1.1%	1.5%	1.6%
Earnings yield	3.8%	2.3%	1.1%	-2.9%	-0.7%	-0.4%
Enterprise value	$1.9B	$1.9B	$2B	$0	$1.8B	$1.9B
Net debt / EBITDA	-2.63×	-1.14×	10.7×	0×	10.46×	48.46×
Cash conversion cycle (days)	-0	15	38	0	56	109