The York Water Company (YORW) 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

-281.7%

-$58.34

vs $32.10 price

Levered DCF

-$93.53

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.09

Distress zone

Rating

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	22.91×	23.04×	23.27×	32.13×	38.29×	36.69×	41.54×	30.83×
P/B	1.91×	2.03×	2.5×	3.03×	4.27×	4.24×	4.45×	3.28×
P/S	5.92×	6.27×	7.77×	10.45×	11.81×	11.28×	11.59×	8.54×
EV / EBITDA	20.64×	15.42×	16.7×	21.47×	25.3×	23.39×	23.73×	17.99×
Gross margin	54.8%	73.8%	75.6%	76.5%	78.6%	80.0%	79.9%	80.0%
Operating margin	35.8%	37.4%	41.6%	40.8%	42.4%	45.4%	46.1%	46.5%
Net margin	25.9%	27.1%	33.4%	32.6%	30.8%	30.8%	27.9%	27.6%
Current ratio	0×	0.9×	0.86×	0.84×	0.56×	1.36×	0.62×	0.83×
Debt / equity	0.97×	0.89×	0.81×	0.67×	0.96×	0.86×	0.75×	0.75×
Interest coverage	2.76×	3.15×	4.19×	4.79×	4.75×	5.19×	4.64×	4.09×
Dividend yield	2.8%	2.6%	2.1%	1.7%	1.5%	1.5%	1.5%	2.1%
Payout ratio	62.9%	59.5%	48.8%	54.5%	57.7%	56.6%	62.4%	64.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	8.3%	8.8%	10.7%	9.5%	11.1%	11.6%	10.7%	10.6%
Return on invested capital	4.3%	4.3%	4.9%	5.0%	4.9%	5.5%	5.8%	5.7%
Return on assets	2.9%	3.2%	4.0%	3.8%	3.7%	4.1%	4.0%	3.9%
Free cash flow yield	-4.1%	-3.9%	-6.0%	-5.1%	-3.6%	-2.2%	-0.3%	0.4%
Earnings yield	4.4%	4.3%	4.3%	3.1%	2.6%	2.7%	2.4%	3.2%
Enterprise value	$691.1M	$675.2M	$732.1M	$767.3M	$797.3M	$730.9M	$698.8M	$508M
Net debt / EBITDA	6.94×	4.69×	4.11×	3.9×	4.64×	3.95×	3.43×	3.34×
Cash conversion cycle (days)	11	-58	-103	-152	-93	-128	-35	-27