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ZYBERNO

Stock Report

Updated Aug 30, 2026

PERIMETER SOLUTIONS, INC. (PRM)

Materials • NYSE

$30.62

Perimeter Solutions SE is a Luxembourg-based manufacturer and supplier of fire retardant and firefighting chemicals headquartered in St. Louis, Missouri. The company provides aerial fire retardant (Phos-Chek) to governments and fire agencies for battling wildfires, as well as foam concentrates for fire suppression at airports and industrial facilities.

Professional Investment Analysis

ZYBERNO SCORE →

Is it a great business? Is it getting better?

36.0/100

WEAK BUSINESS

PERIMETER SOLUTIONS, INC. (PRM) scores 36/100 — weak fundamentals with mixed indicators requiring careful analysis before acting.

📊 How is the Zyberno Score calculated? +

The Zyberno Score answers one question: "Is this a quality business worth owning?" It's a 0-100 investment grade that evaluates business fundamentals across four critical dimensions, based on principles from Warren Buffett, Benjamin Graham, Peter Lynch, and Charlie Munger.

The 4 Core Categories (25 points each):

1. PROFITABILITY (25 pts)

Metrics: ROE, ROIC, Net Margin, Operating Margin
Thresholds: ROE >20% excellent • ROIC >20% excellent • Net Margin >20% excellent • Operating Margin >25% excellent

2. FINANCIAL STRENGTH (25 pts)

Metrics: Debt-to-Equity, Current Ratio, Interest Coverage, Altman Z-Score
Thresholds: D/E <0.3 excellent • Current Ratio >2.5 excellent • Interest Coverage >10x excellent • Altman Z >3.0 safe

3. CASH FLOW QUALITY (25 pts)

Metrics: Free Cash Flow, OCF vs Net Income, FCF Margin
Thresholds: Positive & growing FCF excellent • OCF/NI >1.2x excellent (cash earnings exceed accounting)

4. GROWTH & CONSISTENCY (25 pts)

Metrics: Revenue Growth, Net Income Growth, FCF Growth, Piotroski F-Score
Thresholds: Growth via log-linear regression • Piotroski 8-9 excellent, 6-7 good

Score Interpretation:

75-100

GREAT BUSINESS

65-74

GOOD BUSINESS

50-64

AVERAGE BUSINESS

30-49

WEAK BUSINESS

0-29

POOR BUSINESS

→ View full PRM quality analysis & detailed breakdown

VALUATION SIGNAL

MARGIN OF SAFETY

Is this stock cheap or expensive relative to what the business has historically generated for owners?

-69.5%

Overvalued

Growth gap unavailable — insufficient data for reverse DCF calculation.

🎯 Expected Annual Return →

8.0%

Margin of Safety convergence — your return if the market re-prices to intrinsic value (5-yr annualised)

-0.2%

Yield + growth — what the business alone earns you, even if the market never re-rates

💰 How is Margin of Safety calculated? +

Margin of Safety measures how much discount or premium you're paying relative to a stock's intrinsic value. It's Benjamin Graham's core principle: the larger the margin, the lower your downside risk.

Formula: (Intrinsic Value − Current Price) ÷ Intrinsic Value × 100%

How We Calculate Intrinsic Value (DCF Method):

Step 1: Calculate current Owner Earnings (OCF − Maintenance CapEx)

Step 2: Calculate company-specific growth rate using log-linear regression on 16 quarters of Owner Earnings

Step 3: Project 10 years forward using the calculated growth rate

Step 4: Discount each year's cash flow to present value using 10% discount rate

Step 5: Calculate terminal value using 3% perpetual growth rate

Step 6: Sum all discounted cash flows = Intrinsic Value

What The Percentages Mean:

+50% or more

EXCELLENT — Very undervalued

+25% to +50%

GOOD — Attractive discount

0% to +25%

FAIR — Reasonable value

0% to -25%

CAUTION — Slight premium

-25% or worse

POOR — Overvalued

"Price is what you pay, value is what you get." — Warren Buffett

→ View full PRM valuation analysis · → View full PRM Brina Gap analysis

📈 How is Brina Gap calculated? +

Brina Gap measures the difference between the growth a business can fundamentally sustain and the growth the market is already pricing in.

Formula: Fundamental Growth Rate − Market-Implied Growth Rate

The Two Components:

Fundamental Growth Rate = ROIC × Reinvestment Rate

What the business can sustainably grow at based on how much it reinvests and what return it earns on that capital. Grounded in historical financials.

Market-Implied Growth Rate = Reverse DCF

The growth rate the current Enterprise Value implicitly assumes. Calculated by back-solving a 10-year DCF model (10% WACC, 3% terminal growth) until the present value of projected cash flows equals EV.

What The Gap Means:

Gap > +5% Market Underestimates — potential upside

+2% to +5% Slight Underestimate

-2% to +2% Fairly Priced — market consensus matches fundamentals

-5% to -2% Slight Overestimate

Gap < -5% Market Overestimates — price embeds optimism fundamentals don't support

A positive gap (market underestimates) combined with a positive Margin of Safety is the strongest combined signal — the business is both cheap historically and forward economics are stronger than the price suggests.

Critical Financial Health Indicators

Return on Equity (Profitability):CRITICAL (-30.4%)

Debt-to-Equity (Solvency Risk):POOR (1.24x)

Operating Margin (Operational Efficiency):CRITICAL (-50.6%)

Return on Capital (Capital Efficiency):CRITICAL (-13.3%)

📊 Valuation Trilogy

Three interconnected metrics for complete valuation analysis

Click any metric for full methodology and detailed analysis

Zyberno's Verdict

PERIMETER SOLUTIONS, INC. (PRM) stock report — Zyberno Score 36/100 (WEAK BUSINESS), Margin of Safety -69.5%, 8% expected annual return. Full financial analysis on Zyberno.

According to Zyberno's DCF model, PERIMETER SOLUTIONS, INC. (PRM) trades at $30.62 against an estimated intrinsic value per share of $18.06 — a -69.5% Margin of Safety based on Owner Earnings of $94.86M TTM, projected at 93.6% growth for 10 years with a 2.5% terminal growth rate. Zyberno's model translates this into a 5-year expected return of 8.0% annually.

Over the trailing twelve months, PRM generated $94.86M in Owner Earnings. Capital was deployed as follows: $30.58M invested in capital expenditures. Reinvestment rate: 15.5%. Owner Earnings have grown at 93.6% annually over the trailing five years using log-linear regression.

DIVISION I: EXECUTIVE SUMMARY

A. Market Valuation

Market Price & Capitalization (2)

Current Price:30.62

Market Cap:$5.00B

Valuation Multiples (3)

P/B Ratio:4.90x

P/S Ratio:6.61x

Peg Ratio:-999.00x

Enterprise Metrics (2)

Enterprise Value:$6.14B

Pfcf Ratio:52.75x

Price Action & Momentum (3)

12-1 Momentum:

+109.1% (96th pctile)

📈 Click to view full PRM Momentum analysis →

Momentum Percentile:96 / 100

% of 52-Week High:80.2%

B. Profitability Assessment

Return Metrics (5)

ROE:

-30.4%

📊 Click to view full PRM ROE analysis →

ROA:-11.6%

Roic:

-13.3%

📊 Click to view full PRM ROIC analysis →

Reinvestment Rate:15.5%

Fundamental Growth Rate (g):-2.1%

Margin Analysis (3)

Operating Margin Ttm:-50.6%

Net Margin Ttm:-44.9%

Ebitda Margin:-32.2%

TTM Performance (3)

Gross Margin Ttm:41.8%

Operating Margin Ttm:-50.6%

Net Margin Ttm:-44.9%

Yield Metrics (3)

Earnings Yield:-$7.12

Owner Earnings Yield:$1.90

Dividend Yield:0.0%

C. Log-Linear Regression Growth Trends

Earnings Surprise (SUE) (3)

Earnings Surprise (SUE):

-1.28

📊 Click to view full PRM Earnings Surprise analysis →

EPS Surprise vs Expected:-173.6%

Latest Earnings Filed:2026-07-31

Revenue Growth (Linear) (1)

Revenue Growth Rate (Linear):24.0%

Earnings Growth (Linear) (1)

Net Income Growth Rate (Linear):35.0%

Cash Flow Growth (Linear) (2)

Free Cash Flow Growth Rate (Linear):93.5%

Operating Cash Flow Growth Rate (Linear):59.3%

Operating Growth (Linear) (1)

Operating Income Growth Rate (Linear):31.1%

D. Financial Stability

Liquidity Ratios (3)

Current Ratio:1.57x

Quick Ratio:0.93x

Cash Ratio:0.26x

Leverage Analysis (3)

Debt To Equity Ttm:1.24x

Debt-to-Equity Ratio:1.24x

Debt To Ebitda:-999.00x

Coverage Ratios (2)

Interest Coverage Ratio:-3.16x

Times Interest Earned:-3.16

Capital Structure (4)

Working Capital:179,989,000.00

Cash And Cash Equivalents:82,776,000.00

Long Term Debt:$1.21B

Net Debt:$1.13B

DIVISION II: FINANCIAL STATEMENTS ANALYSIS

A. Income Statement Analysis

Revenue Components (2)

Revenue TTM: $757.07M

Linear Growth: 24.0%

📊 Click to view full PRM Revenue analysis & methodology →

Cost Of Revenue Ttm:$342.92M

Profitability Breakdown (2)

Gross profit TTM: $316.54M

Linear Growth: 49.0%

📊 Click to view full PRM Gross Profit analysis & methodology →

Operating income TTM: -$383.04M

Linear Growth: 31.1%

📊 Click to view full PRM Operating Income analysis & methodology →

Bottom Line Performance (3)

Net income TTM: -$339.59M

Linear Growth: 35.0%

📊 Click to view full PRM Net Income analysis & methodology →

Income Before Tax:-$443.17M

Ebitda Ttm:-243,943,000.00

Operating Expenses (5)

Operating Expenses:797,199,000.00

R And D Expense:0.00

Sga Expense:95,363,000.00

Income Tax Expense:-$103.58M

Interest Expense:63,510,000.00

Expense Ratios (3)

R And D To Revenue Percentage:0.0%

Sga To Revenue Percentage:44.6%

Ebitda Margin:-32.2%

B. Balance Sheet Analysis

Asset Composition (5)

Total Assets:$3.24B

Current Assets:$496.39M

Ppe Net:109,215,000.00

Goodwill:1,365,724,000.00

Intangible Assets:$1.22B

Liability Structure (4)

Total Liabilities:2,223,140,000.00

Current Liabilities:316,399,000.00

Long Term Debt:$1.21B

Short Term Debt:$6.80M

Equity & Capital (3)

Equity:$1.02B

Retained Earnings:-$901.79M

Common Stock:4,000,000,000.00

Working Capital Items (3)

Accounts Receivable:158,095,000.00

Inventory:203,265,000.00

Accounts Payable:0.00

Special Items (2)

Contract Liabilities:26,413,000.00

Stock Based Compensation:2,892,000.00

C. Cash Flow Analysis

Operating Activities (2)

Operating cash flow TTM: $125.44M

Linear Growth: 59.3%

Free cash flow TTM: $94.86M

Linear Growth: 93.5%

📊 Click to view full PRM Free Cash Flow analysis & methodology →

Investment Activities (2)

Investing Cash Flow:-$688.10M

Capital Expenditures Ttm:30,579,000.00

Financing Activities (3)

Financing Cash Flow:$542.76M

Dividends Paid Ttm:0.00

Stock Repurchase:0.00

Capital Transactions (3)

Common Stock Issuance:0.00

Long Term Debt Issuance:$0.00

Long Term Debt Repayments:$0.00

Non-Cash Items (1)

Depreciation Amortization Ttm:139,100,000.00

DIVISION III: OPERATIONAL METRICS

A. Per Share Analysis

Earnings Per Share (3)

EPS (Basic TTM):-2.17

Eps diluted TTM: -$2.18

Linear Growth: 39.5%

📊 Click to view full PRM EPS analysis & methodology →

Earnings Per Share Ttm:-$2.08

Revenue & Cash Per Share (3)

Sales Per Share Ttm:4.63

Operating Cash Flow Per Share:$1.46

Fcf Per Share Ttm:0.58

Book Value & Capital (2)

Book Value Per Share:$6.25

Cash Per Share:0.51

Dividend Policy (1)

Dividend Payout Ratio:-999.00x

B. Operational Efficiency

Asset Utilization (2)

Asset Turnover Ttm:0.26x

Working Capital Turnover Ttm:4.21x

Receivables Management (2)

Receivables Turnover Ttm:4.79x

Days Sales Outstanding Ttm:76.22

Inventory Management (2)

Inventory Turnover Ttm:1.69x

Days Inventory Outstanding Ttm:216.36

Payables & Cash Cycle (2)

Days Payable Outstanding:-999.00

Cash Conversion Cycle:1,291.58

C. Quality & Risk Metrics

Financial Quality Scores (2)

Financial Strength Score:40.00

Quality Score:40.00

Market Metrics (2)

Beta:0.00x

Volatility Category:unknown

DIVISION IV: INVESTMENT ANALYSIS

A. Value Investment Framework

Owner Earnings Analysis (3)

Owner earnings TTM: $94.86M

Linear Growth: 93.6%

📊 Click to view full PRM Owner Earnings analysis & methodology →

Owner Earnings Per Share:$0.58

Owner Earnings Yield:$1.90

Growth Assessment (1)

Owner Earnings Growth Rate:$93.60

Damodaran Growth Analysis (2)

Reinvestment Rate:15.5%

Fundamental Growth Rate (g):-2.1%

Intrinsic Value Models (1)

Intrinsic Value:

$2.95B

📊 Click to view full PRM DCF valuation →

Margin of Safety (1)

Margin Of Safety:

-69.5%

📊 Click to view full PRM valuation analysis →

Return Scenarios (2)

Theoretical 5-Year Return:

8.0%

📊 Click to view full PRM expected return analysis →

Forward Expected Return (Yield + Growth):

-0.2%

📊 Click to view full PRM expected return analysis →

Investment Assessment (1)

Buffett Assessment:Overvalued

B. Log-Linear Regression Growth Analysis

Growth Rates (Log-Linear Regression) (3)

Revenue Growth Rate (Linear):24.0%

Net Income Growth Rate (Linear):35.0%

Operating Income Growth Rate (Linear):31.1%

Cash Flow Growth Rates (2)

Free Cash Flow Growth Rate (Linear):93.5%

Operating Cash Flow Growth Rate (Linear):59.3%

Other Growth Rates (3)

Gross Profit Growth Rate (Linear):49.0%

Book Value Growth Rate (Linear):-0.8%

Owner Earnings Growth Rate:$93.60

C. Company Profile & Context

Corporate Information (6)

Symbol:PRM

Company Name:PERIMETER SOLUTIONS, INC.

Sector:Materials

Industry:Chemicals

Exchange:NYSE

Country:United States

Market Classification (3)

Market Cap Category:N/A

Price Category:medium

Volume Category:N/A

Share Structure (3)

Shares Outstanding:163.41M

Shares Outstanding Basic:163.41M

Shares Outstanding Diluted:163.41M

Data Processing Info (3)

Processing Version:v3.0

Last Updated:2026-08-30 04:23:46 UTC

Data Timestamp:2026-08-30T04:23:46.812871