Zumiez Inc. (ZUMZ) 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

-32.0%

$10.18

vs $14.97 price

Levered DCF

$21.09

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.41

Grey 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	30.76×	-176.35×	-5.45×	23.41×	8.77×	14.08×	11.76×	13.89×
P/B	1.27×	0.92×	0.97×	1.21×	2.23×	1.94×	1.69×	1.57×
P/S	0.44×	0.34×	0.39×	0.52×	0.88×	1.08×	0.76×	0.64×
EV / EBITDA	12.69×	16.14×	-12.1×	12.66×	6.62×	10.86×	9.27×	6.41×
Gross margin	35.8%	34.1%	32.1%	33.9%	38.6%	35.3%	35.4%	34.3%
Operating margin	1.8%	0.2%	-7.4%	3.2%	13.3%	9.8%	8.3%	6.2%
Net margin	1.4%	-0.2%	-7.2%	2.2%	10.1%	7.7%	6.5%	4.6%
Current ratio	2.01×	2.07×	2.27×	2.33×	2.43×	2.74×	2.58×	3.51×
Debt / equity	0.61×	0.61×	0.63×	0.62×	0.57×	0.57×	0.74×	0×
Interest coverage	0×	0×	0×	0×	0×	0×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	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	4.1%	-0.5%	-17.7%	5.2%	25.5%	13.8%	14.3%	11.3%
Return on invested capital	1.6%	-0.2%	-10.2%	3.0%	15.8%	8.3%	7.7%	10.0%
Return on assets	1.9%	-0.3%	-9.4%	2.8%	13.8%	7.6%	7.3%	8.5%
Free cash flow yield	13.2%	1.9%	-1.6%	-5.3%	11.4%	12.0%	11.1%	7.1%
Earnings yield	3.2%	-0.6%	-18.3%	4.3%	11.4%	7.1%	8.5%	7.2%
Enterprise value	$484.3M	$389.1M	$473.3M	$667.4M	$1.2B	$1.3B	$1.1B	$574.5M
Net debt / EBITDA	1.87×	3.61×	-3.37×	3.28×	0.83×	1.98×	2.53×	-0.58×
Cash conversion cycle (days)	65	66	61	62	41	43	54	60