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Ennis, Inc (EBF) Fair Value & Analysis

Industrials · US · Market cap $514M

EI Ennis, Inc logo Ennis, Inc EBF · US
Price$22.30
Fair Value$33.39
Upside+49.7%
Quality76/100
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Weak Growth
Solidly profitable · 10.9% net margin
Low debt · generates free cash flow
4.99% dividend yield
Ranks above peers (12/15)
Moderate moat 58/100
Evidence: High Range $25.04 – $41.74 Share as image

Fair value as of: Jul 15, 2026

From 22 valuation models · updated 26 days ago

Share price +5.6% over the past month.

A strong business, screening 50% undervalued on our models.

What matters now

  • The rarer combination: high quality (76/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case ($25.04). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

$22.32 $12.34 Fair Value $33.39 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range $12.34 – $22.32 · fair‑value band $25.04 – $41.74 · the $22.30 price screens below the $33.39 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

Ennis, Inc (EBF) currently trades at $22.30, while our model-based Fair Value estimate is $33.39, implying the stock looks roughly 49.7% undervalued today. The Quality Score stands at 76/100 (high quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Ennis, Inc generated revenue of $392M at a net margin of 10.9%. Revenue grew 4.0% year over year. It earns a return on equity of 14.0%. The balance sheet holds a net cash position of $57.5M. Fundamentals as of Jul 15, 2026

Our scenario range runs from $25.04 (bear case) to $41.74 (bull case); at $22.30, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 40% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -32% fair-value upside, at 50%, EBF screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF $23.53 $29.38 $36.62 80
Residual Income $10.75 $12.50 $22.46 76
Rev-Margin DCF $21.31 $29.68 $38.79 74
All 22 models by family
DCF Models
FCF DCF $23.09 $29.37 $37.53 38
Owner Earnings $20.00 $25.33 $32.25 31
5Y Revenue Exit $21.31 $29.31 $39.31 39
5Y EBITDA Exit $24.51 $34.87 $46.62 41
5Y P/E Exit $23.83 $33.69 $43.66 38
10Y Revenue Exit $21.46 $28.22 $36.11 36
10Y EBITDA Exit $23.71 $31.61 $40.82 37
10Y P/E Exit $23.33 $30.89 $38.92 35
Earnings-Based
Graham-Dodd $10.81 $21.76 $27.37 54
EPV $14.25 $15.83 $17.15 59
Multiples
P/E Multiple $25.04 $33.39 $41.74 63
P/S Multiple $20.27 $27.03 $33.79 58
P/B Multiple $20.27 $27.03 $33.79 55
EV/EBIT $28.81 $37.54 $46.26 53
EV/EBITDA $29.04 $37.84 $46.64 54
EV/Revenue $21.32 $29.33 $37.33 43
Asset-Based
NCAV (Graham) $5.97 $8.00 $11.94 50
Growth DCF
Growth DCF $23.53 $29.38 $36.62 80
Rev-Margin DCF $21.31 $29.68 $38.79 74
Economic Profit
Residual Income $10.75 $12.50 $22.46 76
ROIC Compounder $14.43 $16.41 $18.37 72
Growth Earnings
Growth-Adj P/E $18.18 $25.97 $33.76 68

Widest divergence: Growth DCF ($29.38) versus Asset-Based ($8.00). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) $392M
Revenue growth (YoY) +4.0%
Net margin 10.9%
Return on equity 14.0%
Free cash flow $60.0M FY2025
P/E ratio 12.2
More key figures
Operating margin 11.2%
EPS (TTM) $1.66
Dividend yield 5.0%
EPS growth (YoY) +0.7%
Net cash $57.5M FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 76/100

Of which business quality 74 · Market factors (momentum, volatility) 75

Profitability 64
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 75
Earnings quality: real cash, not paper profit
Fin. Strength 86
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 92
Calm price path (market factor)
Momentum 59
Price trend over the last 3–12 months (market factor)
52W Momentum 84
Distance to the 52-week high (market factor)
Net Issuance 77
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Ennis, Inc. produces and sells business forms and other printed products in the United States. The company sells snap sets, continuous forms, laser cut sheets, tags, labels, envelopes, integrated products, jumbo rolls, and pressure sensitive products under the Ennis, Royal Business Forms, Block Graphics, ColorWorx, Enfusion, Uncompromised Check Solutions, …

Full company description

Ennis, Inc. produces and sells business forms and other printed products in the United States. The company sells snap sets, continuous forms, laser cut sheets, tags, labels, envelopes, integrated products, jumbo rolls, and pressure sensitive products under the Ennis, Royal Business Forms, Block Graphics, ColorWorx, Enfusion, Uncompromised Check Solutions, VersaSeal, Ad Concepts, FormSource Limited, Star Award Ribbon Company, Witt Printing, Genforms, PrintGraphics, Calibrated Forms, PrintXcel, Printegra, Forms Manufacturers, Mutual Graphics, TRI-C Business Forms, Major Business Systems, Independent Printing, Hayes Graphics, Wright Business Graphics, Wright 360, Integrated Print & Graphics, the Flesh Company, AmeriPrint, Stylecraft, UMC Print, Eagle Graphics, Diamond Graphics, and Printing Technologies labels. It also offers point of purchase advertising under the Adams McClure brand; presentation and document folders under the Admore, Folder Express, and Independent Folders brands; custom printed products, labels, and custom and stock tags under the Ennis Tag & Label brand; custom and stock tags and labels under the Allen-Bailey Tag & Label, Atlas Tag & Label, Kay Toledo Tag, and Special Service Partners brands; custom and imprinted envelopes under the Trade Envelopes, Block Graphics, Wisco, and National Imprint Corporation brands; financial and security documents under the Northstar and General Financial Supply brands; and custom and stock pressure seal documents under the Infoseal and PrintXcel brands. In addition, it provides school photo marketing and national school forms for school portrait photographers and professional photo labs. The company distributes business forms and other business products through business forms distributors, resellers, direct mail, commercial printers, software companies, and advertising agencies. The company was formerly known as Ennis Business Forms, Inc. Ennis, Inc. was founded in 1909 and is headquartered in Midlothian, Texas.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Ennis, Inc reported revenue of $395M in FY2025 versus $358M in FY2021, a compound +2.5%/yr. Reported net income was $40.2M in FY2025, compounding +13.7%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
$395M
Latest YoY
−6.1%
Avg. growth/yr (3Y)
−0.5%
Avg. growth/yr (5Y)
−2.1%
Avg. growth/yr (39Y)
+3.3%
Revenue +2.5%/yr
FY21 $358M
FY22 $400M
FY23 $432M
FY24 $420M
FY25 $395M
Net income +13.7%/yr
FY21 $24.1M
FY22 $29.0M
FY23 $47.3M
FY24 $42.6M
FY25 $40.2M

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Cite: Fair Value Calculator (2026). "Ennis, Inc Fair Value". https://www.fairvalue-calculator.com/stock/EBF

Peer Group

Business Equipment & Supplies · 73 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 76 · Top 25%
Fair Value upside +50% · Top 25%
Return on equity (TTM) 14% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 11% · Above median
Revenue growth 4% · Above median
Dividend yield (TTM) 5.0% · Top 25%

Valuation Multiples vs Business Equipment & Supplies median · lower = cheaper

P/E (TTM) 12.2× · Cheaper than 75% of peers
P/B 1.70× · Pricier than median
P/S (TTM) 1.31× · Pricier than median
P/FCF 8.6× · Pricier than 75% of peers
EV/EBITDA 6.5× · Cheaper than median
PEG 0.73× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 33
FUTURE 20 · sector 18
PAST 56 · sector 20
HEALTH 100 · sector 98
DIVIDEND 100 · sector 52

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Business Equipment & Supplies stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
Ricoh Company RICO ¥15.33 ¥17.99 +17%
GRG Banking Equipment Co 002152 ¥10.08 ¥6.90 -32%
Shanghai M&G Stationery Inc 603899 ¥21.45 ¥30.05 +40%
XGD Inc 300130 ¥19.90 ¥15.67 -21%
DOMS Industries Limited DOMS ₹2,260 ₹782.96 -65%
Hengbao Co 002104 ¥9.20 ¥1.66 -82%
Shaanxi Fenghuo Electronics Co 000561 ¥6.99 ¥1.75 -75%
Shenzhen Comix Group 002301 ¥7.30 ¥3.11 -57%
Shandong New Beiyang Information Technology Co 002376 ¥6.00 ¥1.73 -71%
Qingdao Hiron Commercial Cold Chain Co 603187 ¥11.92 ¥21.12 +77%

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Frequently asked questions

Is Ennis, Inc (EBF) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of $33.39 versus a price of $22.30, about +50% (undervalued).
What is the fair value of EBF?
Our model-based fair value for Ennis, Inc is $33.39 (as of Jul 15, 2026), built from audited fundamentals. The current price is $22.30.
What is the quality score of EBF?
Ennis, Inc has a Quality Score of 76/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Ennis, Inc (EBF)?
Ennis, Inc reported trailing-twelve-month revenue of about $392M (latest available figure, as of Jul 15, 2026).
What is the net profit margin of EBF?
The net profit margin of Ennis, Inc is about 10.9%, meaning it keeps roughly 10.9% of revenue as net income. Based on the latest reported figures.
Does Ennis, Inc pay a dividend?
Ennis, Inc currently shows a dividend yield of about 4.99% relative to its recent price (as of Jul 15, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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