J.Jill, Inc.

JILL

Consumer CyclicalApparel - RetailNYSE

$12.35

Market Cap: $139.57M

J.Jill, Inc. (JILL) Valuation Summary

Updated Apr 23, 2026 22:31

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Growth Exit 5Y	$46.17 – $497.56	$88.25	+578.3%
Growth Exit 10Y	$45.86 – $446.63	$83.75	+543.8%
EBITDA Exit 5Y	$29.17 – $75.98	$50.58	+288.8%
EBITDA Exit 10Y	$33.89 – $82.52	$54.55	+319.3%
▸ Trading Multiples
P/E	$19.37 – $44.86	$36.73	+182.3%
EV/EBITDA	$28.49 – $118.11	$32.62	+150.7%
EV/Revenue	$6.81 – $12.50	$8.25	-36.6%
▸ PEG
PEG Fair Value	$30.89 – $30.89	$30.89	+137.5%
▸ Earnings Power Value
Earnings Power Value	$35.59 – $66.06	$47.13	+262.3%
▸ Dividend Discount
Dividend Discount	$2.91 – $5.24	$3.62	-72.2%

Valuation History

DCF Analysis

Fair Value

$88.25

Market Price

$12.35

Upside / Downside

+614.6%

Verdict

Undervalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project J.Jill, Inc.'s cash flows over 5 years with line-by-line expense modeling. Revenue is projected revenue growing from -0.5% to 0.5% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 4, DPO 94, DIO 115). At a 6.2% WACC with mid-year discounting, the terminal value (83% of enterprise value) is derived from the Gordon Growth Model on Year 6 FCFF at a 2.5% perpetual rate. After subtracting net debt, the equity value implies a fair price of $88.25 per share, suggesting JILL is undervalued by 614.6% at the current price of $12.35.

FCFF Present Value Calculation

WACC

6.18%

3% – 20%

Terminal Growth

2.50%

0% – 6%

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	Terminal
Profit Before Tax	58	57	59	59	59	61
(−) Net Interest	18	18	18	18	18	19
(+) D&A	14	15	15	14	14	15
EBITDA	89	91	92	92	92	94

(−) Tax	16	16	16	16	16	17
(−) CapEx	13	13	14	14	14	14
(−) ΔWC	0	-0	0	0	0	0
Free Cash Flow (FCFF)	60	61	62	62	62	63

Terminal Value						1,716
WACC / Discount Rate	6.2%
Long-term Growth Rate	2.5%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5
Present Value of FCF	58	56	53	50	47	1,271

Enterprise Value	1,535
Projection Period	264	17.2%
Terminal Value	1,271	82.8%

(−) Current Net Debt	184

Equity Value	1,351
(/) Outstanding Shares	15

Fair Price	$88.25

Sensitivity Analysis

WACC \ Terminal Growth Rate	1.5%	2.0%	2.5%	3.0%	3.5%
4.2%	$131	$160	$206	$290	$498
5.2%	$93	$106	$125	$152	$196
6.2%	$71	$78	$88	$101	$119
7.2%	$56	$61	$67	$75	$84
8.2%	$46	$50	$54	$58	$64

Current price: $12.35. Green = undervalued, Red = overvalued.

Fair Value

$83.75

Market Price

$12.35

Upside / Downside

+578.2%

Verdict

Undervalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project J.Jill, Inc.'s cash flows over 10 years with analyst estimates for the first 3–5 years, fading toward long-term GDP growth for the remaining years with line-by-line expense modeling. Revenue is projected revenue growing from -0.5% to 2.6% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 4, DPO 94, DIO 115). At a 6.2% WACC with mid-year discounting, the terminal value (68% of enterprise value) is derived from the Gordon Growth Model on Year 11 FCFF at a 2.5% perpetual rate. After subtracting net debt, the equity value implies a fair price of $83.75 per share, suggesting JILL is undervalued by 578.2% at the current price of $12.35.

FCFF Present Value Calculation

WACC

6.18%

3% – 20%

Terminal Growth

2.50%

0% – 6%

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Profit Before Tax	58	57	59	59	59	60	61	62	63	65	66
(−) Net Interest	18	18	18	18	18	18	19	19	19	20	20
(+) D&A	14	15	15	14	14	14	14	14	14	14	15
EBITDA	89	91	92	92	92	92	93	95	97	99	101

(−) Tax	16	16	16	16	16	17	17	17	17	18	18
(−) CapEx	13	13	14	14	14	14	14	14	15	15	16
(−) ΔWC	0	-0	0	0	0	0	0	0	0	0	0
Free Cash Flow (FCFF)	60	61	62	62	62	61	62	63	64	66	67

Terminal Value											1,823
WACC / Discount Rate	6.2%
Long-term Growth Rate	2.5%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5.5	6.5	7.5	8.5	9.5	5
Present Value of FCF	58	56	53	50	47	44	42	40	39	37	1,001

Enterprise Value	1,466
Projection Period	466	31.8%
Terminal Value	1,001	68.2%

(−) Current Net Debt	184

Equity Value	1,283
(/) Outstanding Shares	15

Fair Price	$83.75

Sensitivity Analysis

WACC \ Terminal Growth Rate	1.5%	2.0%	2.5%	3.0%	3.5%
4.2%	$130	$155	$194	$267	$447
5.2%	$92	$103	$118	$141	$177
6.2%	$70	$76	$84	$94	$108
7.2%	$56	$59	$64	$70	$77
8.2%	$46	$48	$51	$55	$59

Current price: $12.35. Green = undervalued, Red = overvalued.

Fair Value

$50.59

Market Price

$12.35

Upside / Downside

+309.6%

Verdict

Undervalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project J.Jill, Inc.'s cash flows over 5 years with line-by-line expense modeling. Revenue is projected revenue growing from -0.5% to 0.5% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 4, DPO 94, DIO 115). At a 6.2% WACC with mid-year discounting, the terminal value (72% of enterprise value) is derived by applying the industry peer median EV/EBITDA multiple of 9.9x to Year 6 EBITDA. After subtracting net debt, the equity value implies a fair price of $50.58 per share, suggesting JILL is undervalued by 309.5% at the current price of $12.35.

FCFF Present Value Calculation

WACC

6.18%

3% – 20%

EV/EBITDA Exit Multiple

9.94x

1x – 40x

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	Terminal
Profit Before Tax	58	57	59	59	59	61
(−) Net Interest	18	18	18	18	18	19
(+) D&A	14	15	15	14	14	15
EBITDA	89	91	92	92	92	94

(−) Tax	16	16	16	16	16	—
(−) CapEx	13	13	14	14	14	—
(−) ΔWC	0	-0	0	0	0	—
Free Cash Flow (FCF)	60	61	62	62	62	—

Peers' EBITDA Multiple						9.9x
Terminal Value						938
WACC / Discount Rate	6.18%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5
Present Value of FCF	58	56	53	50	47	695

Enterprise Value	958
Projection Period	264	27.5%
Terminal Value	695	72.5%

(−) Current Net Debt	184
Equity Value	775
(÷) Outstanding Shares	15M
Fair Price	$51	+309.6%

Sensitivity Analysis

WACC \ EV/EBITDA Exit Multiple	5.9x	7.9x	9.9x	11.9x	13.9x
4.2%	$36	$46	$56	$66	$76
5.2%	$34	$44	$53	$63	$72
6.2%	$32	$41	$51	$60	$69
7.2%	$31	$39	$48	$57	$66
8.2%	$29	$37	$46	$54	$62

Current price: $12.35. Green = undervalued, Red = overvalued.

Based on default parameters

Fair Value

$54.56

Market Price

$12.35

Upside / Downside

+341.8%

Verdict

Undervalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project J.Jill, Inc.'s cash flows over 10 years with analyst estimates for the first 3–5 years, fading toward long-term GDP growth for the remaining years with line-by-line expense modeling. Revenue is projected revenue growing from -0.5% to 2.6% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 4, DPO 94, DIO 115). At a 6.2% WACC with mid-year discounting, the terminal value (54% of enterprise value) is derived by applying the industry peer median EV/EBITDA multiple of 9.9x to Year 11 EBITDA. After subtracting net debt, the equity value implies a fair price of $54.55 per share, suggesting JILL is undervalued by 341.7% at the current price of $12.35.

FCFF Present Value Calculation

WACC

6.18%

3% – 20%

EV/EBITDA Exit Multiple

9.94x

1x – 40x

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Profit Before Tax	58	57	59	59	59	60	61	62	63	65	66
(−) Net Interest	18	18	18	18	18	18	19	19	19	20	20
(+) D&A	14	15	15	14	14	14	14	14	14	14	15
EBITDA	89	91	92	92	92	92	93	95	97	99	101

(−) Tax	16	16	16	16	16	17	17	17	17	18	—
(−) CapEx	13	13	14	14	14	14	14	14	15	15	—
(−) ΔWC	0	-0	0	0	0	0	0	0	0	0	—
Free Cash Flow (FCF)	60	61	62	62	62	61	62	63	64	66	—

Peers' EBITDA Multiple											9.9x
Terminal Value											1,008
WACC / Discount Rate	6.18%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5.5	6.5	7.5	8.5	9.5	5
Present Value of FCF	58	56	53	50	47	44	42	40	39	37	553

Enterprise Value	1,019
Projection Period	466	45.7%
Terminal Value	553	54.3%

(−) Current Net Debt	184
Equity Value	836
(÷) Outstanding Shares	15M
Fair Price	$55	+341.8%

Sensitivity Analysis

WACC \ EV/EBITDA Exit Multiple	5.9x	7.9x	9.9x	11.9x	13.9x
4.2%	$47	$56	$65	$74	$83
5.2%	$44	$52	$59	$67	$75
6.2%	$40	$47	$55	$62	$69
7.2%	$37	$43	$50	$57	$63
8.2%	$34	$40	$46	$52	$58

Current price: $12.35. Green = undervalued, Red = overvalued.

Based on default parameters

Trading Multiples

Fair Value

$36.73

Market Price

$12.35

Upside / Downside

+197.4%

Verdict

Undervalued

Using the industry peer median P/E Multiples multiple (trailing + forward), J.Jill, Inc. (JILL) has a fair value of $36.73 based on 5 comparable companies in the Apparel - Retail industry.

P/E Valuation — Apparel - Retail

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing P/E	Forward P/E
J.Jill, Inc.JILL	189	6.8x	3.6x
Hamilton Beach Brands Holding CompanyHBB	278	10.6x	14.3x
JAKKS Pacific, Inc.JAKK	259	26.3x	7.7x
Flexsteel Industries, Inc.FLXS	258	13.6x	13.2x
Superior Group of Companies, Inc.SGC	178	24.6x	19.2x
America's Car-Mart, Inc.CRMT	105	5.4x	—
Industry Median		13.6x	13.8x
(*) Profit after tax		28	52
Equity Value		379	746
(/) Outstanding shares		15	15
Fair Price		$25	$49

Selected Fair Value (avg of trailing + forward)

$36.73

+197.4%

Fair Value

$32.62

Market Price

$12.35

Upside / Downside

+164.1%

Verdict

Undervalued

Using the industry peer median EV/EBITDA multiple (trailing + forward), J.Jill, Inc. (JILL) has a fair value of $32.62 based on 7 comparable companies in the Apparel - Retail industry.

EV/EBITDA Valuation — Apparel - Retail

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/EBITDA	Forward EV/EBITDA
J.Jill, Inc.JILL	189	5.4x	5.3x
Designer Brands Inc.DBI	419	29.0x	27.9x
Hamilton Beach Brands Holding CompanyHBB	278	6.5x	5.4x
JAKKS Pacific, Inc.JAKK	259	11.7x	9.6x
Flexsteel Industries, Inc.FLXS	258	9.0x	9.1x
Funko, Inc.FNKO	242	34.4x	33.6x
Superior Group of Companies, Inc.SGC	178	9.9x	9.7x
America's Car-Mart, Inc.CRMT	105	9.3x	9.7x
Industry Median		9.9x	9.7x
(*) EBITDA		69	71
= Enterprise Value		682	685
(-) Net Debt		184	184
Equity Value		498	501
(/) Outstanding shares		15	15
Fair Price		$33	$33

Selected Fair Value (avg of trailing + forward)

$32.62

+164.1%

Fair Value

$8.25

Market Price

$12.35

Upside / Downside

-33.2%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), J.Jill, Inc. (JILL) has a fair value of $8.25 based on 9 comparable companies in the Apparel - Retail industry.

EV/Revenue Valuation — Apparel - Retail

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
J.Jill, Inc.JILL	189	0.6x	0.6x
Designer Brands Inc.DBI	419	0.5x	0.5x
Hamilton Beach Brands Holding CompanyHBB	278	0.4x	0.4x
JAKKS Pacific, Inc.JAKK	259	0.5x	0.4x
Flexsteel Industries, Inc.FLXS	258	0.6x	0.6x
Funko, Inc.FNKO	242	0.5x	0.5x
Superior Group of Companies, Inc.SGC	178	0.5x	0.4x
America's Car-Mart, Inc.CRMT	105	0.7x	0.7x
The Children's Place, Inc.PLCE	75	0.5x	0.4x
Robo.ai Inc.AIIO	10	2.6x	—
Industry Median		0.5x	0.5x
(*) Revenue		597	616
= Enterprise Value		323	297
(-) Net Debt		184	184
Equity Value		139	114
(/) Outstanding shares		15	15
Fair Price		$9	$7

Selected Fair Value (avg of trailing + forward)

$8.25

-33.2%

PEG Fair Value

Fair Value

$30.89

Market Price

$12.35

Upside / Downside

+150.1%

Verdict

Undervalued

Using the PEG framework with analyst consensus forward EPS growth of 13.2% plus 3.3% dividend yield, the company has a fair value of $30.89 based on NTM EPS (FY2026) of $2.33. The current PEG ratio is 0.42.

PEG Ratio

0.42Deep Value

01.02.03.0+

PEG = P/E ÷ (Growth + Yield) = 5.6 ÷ (9.9% + 3.3%) = 0.42

PEG < 1 = bargain, 1–1.5 = fair, > 2 = expensive.

Growth Category: StalwartPEG highly applicable

PEG works well for steady growers with predictable earnings.

Fair Value Calculation

EPS Growth RateForward	9.9%
Dividend Yield	+3.3%
Adjusted Growth (clamped 8–25%)	13.2%
Fair P/E	13.2x
NTM EPS (FY2026)	$2.33
Fair Value	$30.89

Growth Analysis

Forward GrowthActive

Period	EPS Est.	Growth	Analysts
FY2025 (actual)	$1.82	—	—
FY2026E	$2.33	+28.2%	3
FY2027E	$1.96	-15.9%	4
FY2028E	$2.42	+23.2%	4

3Y Forward EPS CAGR: 9.9%

Historical Growth

Year	Net Income	EPS	YoY
FY2021	$-28.1M	$-2.26	—
FY2022	$42.2M	$2.95	—
FY2023	$36.2M	$2.51	-14.9%
FY2024	$39.5M	$2.61	+4.0%
FY2025	$27.9M	$1.82	-30.3%

4Y Historical EPS CAGR: -13.7%

Earnings Power Value

Fair Value

$47.13

Market Price

$12.35

Upside / Downside

+281.6%

Verdict

Undervalued

Using the Earnings Power Value framework with a WACC of 6.2% and normalized earnings of $56.0M, the company has a fair value of $47.13 per share. The EPV range is $35.59 – $66.06 based on WACC sensitivity (4.7% – 7.7%).

Currency: USD Millions

	Low	Selected	High
Normalized Earnings	56	56	56
(/) WACC	7.7%	6.2%	4.7%
Enterprise Value	729	906	1,195
(-) Net debt	184	184	184
Equity Value	545	722	1,012
(/) Outstanding shares	15	15	15
Fair Price	$35.59	$47.13	$66.06

Dividend Discount Model

Fair Value

$3.62

Market Price

$12.35

Upside / Downside

-70.7%

Verdict

Overvalued

Using the Two-Stage Dividend Discount Model with a Cost of Equity of 10.6% and projected dividend growth of 0.0%, the fair value is $3.62 per share. The DDM range is $2.91 – $5.24 based on sensitivity analysis across Cost of Equity and growth rate assumptions.

Dividend Profile

Current DPS

$0.32

Dividend Yield

3.30%

Payout Ratio

17.4%

Dividend Coverage

5.74x

FCF Payout Ratio19.3%

Historical Dividends Per Share

Year	DPS	Payout Ratio	YoY Growth
2025	$0.32	17.4%	+65.7%
2024	$0.19	7.3%	—
2023	—	0.0%	—
2022	—	0.0%	—
2021	—	—	—

Dividend Projections (5-Year)

Year	Projected DPS	Growth	Discount Factor	Present Value
2026	$0.32	0.0%	0.9044	$0.29
2027	$0.32	0.0%	0.8179	$0.26
2028	$0.32	0.0%	0.7397	$0.23
2029	$0.32	0.0%	0.6690	$0.21
2030	$0.32	0.0%	0.6050	$0.19
Terminal Value	$0.33 DPS	2.5%		$2.44

PV of Projected Dividends$1.19

PV of Terminal Value$2.44

Fair Value per Share$3.62

Sensitivity Analysis

Fair value under different Cost of Equity (rows) and DPS Growth Rate (columns) assumptions.

Ke \ Growth	0.0%	0.0%	0.0%	1.0%	2.0%
8.6%	$5	$5	$5	$5	$5
9.6%	$4	$4	$4	$4	$5
10.6%	$4	$4	$4	$4	$4
11.6%	$3	$3	$3	$3	$4
12.6%	$3	$3	$3	$3	$3

Disclaimer: Sweet Value Lab provides estimated intrinsic values for informational purposes only. This is not financial advice. All models rely on assumptions that may not reflect future performance. Always do your own research before making investment decisions.

J.Jill, Inc. (JILL) Valuation Summary

Updated Apr 23, 2026 22:31

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Growth Exit 5Y	$46.17 – $497.56	$88.25	+578.3%
Growth Exit 10Y	$45.86 – $446.63	$83.75	+543.8%
EBITDA Exit 5Y	$29.17 – $75.98	$50.58	+288.8%
EBITDA Exit 10Y	$33.89 – $82.52	$54.55	+319.3%
▸ Trading Multiples
P/E	$19.37 – $44.86	$36.73	+182.3%
EV/EBITDA	$28.49 – $118.11	$32.62	+150.7%
EV/Revenue	$6.81 – $12.50	$8.25	-36.6%
▸ PEG
PEG Fair Value	$30.89 – $30.89	$30.89	+137.5%
▸ Earnings Power Value
Earnings Power Value	$35.59 – $66.06	$47.13	+262.3%
▸ Dividend Discount
Dividend Discount	$2.91 – $5.24	$3.62	-72.2%

Valuation History

DCF Analysis

Fair Value

$88.25

Market Price

$12.35

Upside / Downside

+614.6%

Verdict

Undervalued

FCFF Present Value Calculation

WACC

6.18%

3% – 20%

Terminal Growth

2.50%

0% – 6%

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	Terminal
Profit Before Tax	58	57	59	59	59	61
(−) Net Interest	18	18	18	18	18	19
(+) D&A	14	15	15	14	14	15
EBITDA	89	91	92	92	92	94

(−) Tax	16	16	16	16	16	17
(−) CapEx	13	13	14	14	14	14
(−) ΔWC	0	-0	0	0	0	0
Free Cash Flow (FCFF)	60	61	62	62	62	63

Terminal Value						1,716
WACC / Discount Rate	6.2%
Long-term Growth Rate	2.5%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5
Present Value of FCF	58	56	53	50	47	1,271

Enterprise Value	1,535
Projection Period	264	17.2%
Terminal Value	1,271	82.8%

(−) Current Net Debt	184

Equity Value	1,351
(/) Outstanding Shares	15

Fair Price	$88.25

Sensitivity Analysis

WACC \ Terminal Growth Rate	1.5%	2.0%	2.5%	3.0%	3.5%
4.2%	$131	$160	$206	$290	$498
5.2%	$93	$106	$125	$152	$196
6.2%	$71	$78	$88	$101	$119
7.2%	$56	$61	$67	$75	$84
8.2%	$46	$50	$54	$58	$64

Current price: $12.35. Green = undervalued, Red = overvalued.

Fair Value

$83.75

Market Price

$12.35

Upside / Downside

+578.2%

Verdict

Undervalued

FCFF Present Value Calculation

WACC

6.18%

3% – 20%

Terminal Growth

2.50%

0% – 6%

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Profit Before Tax	58	57	59	59	59	60	61	62	63	65	66
(−) Net Interest	18	18	18	18	18	18	19	19	19	20	20
(+) D&A	14	15	15	14	14	14	14	14	14	14	15
EBITDA	89	91	92	92	92	92	93	95	97	99	101

(−) Tax	16	16	16	16	16	17	17	17	17	18	18
(−) CapEx	13	13	14	14	14	14	14	14	15	15	16
(−) ΔWC	0	-0	0	0	0	0	0	0	0	0	0
Free Cash Flow (FCFF)	60	61	62	62	62	61	62	63	64	66	67

Terminal Value											1,823
WACC / Discount Rate	6.2%
Long-term Growth Rate	2.5%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5.5	6.5	7.5	8.5	9.5	5
Present Value of FCF	58	56	53	50	47	44	42	40	39	37	1,001

Enterprise Value	1,466
Projection Period	466	31.8%
Terminal Value	1,001	68.2%

(−) Current Net Debt	184

Equity Value	1,283
(/) Outstanding Shares	15

Fair Price	$83.75

Sensitivity Analysis

WACC \ Terminal Growth Rate	1.5%	2.0%	2.5%	3.0%	3.5%
4.2%	$130	$155	$194	$267	$447
5.2%	$92	$103	$118	$141	$177
6.2%	$70	$76	$84	$94	$108
7.2%	$56	$59	$64	$70	$77
8.2%	$46	$48	$51	$55	$59

Current price: $12.35. Green = undervalued, Red = overvalued.

Fair Value

$50.59

Market Price

$12.35

Upside / Downside

+309.6%

Verdict

Undervalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project J.Jill, Inc.'s cash flows over 5 years with line-by-line expense modeling. Revenue is projected revenue growing from -0.5% to 0.5% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 4, DPO 94, DIO 115). At a 6.2% WACC with mid-year discounting, the terminal value (72% of enterprise value) is derived by applying the industry peer median EV/EBITDA multiple of 9.9x to Year 6 EBITDA. After subtracting net debt, the equity value implies a fair price of $50.58 per share, suggesting JILL is undervalued by 309.5% at the current price of $12.35.

FCFF Present Value Calculation

WACC

6.18%

3% – 20%

EV/EBITDA Exit Multiple

9.94x

1x – 40x

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	Terminal
Profit Before Tax	58	57	59	59	59	61
(−) Net Interest	18	18	18	18	18	19
(+) D&A	14	15	15	14	14	15
EBITDA	89	91	92	92	92	94

(−) Tax	16	16	16	16	16	—
(−) CapEx	13	13	14	14	14	—
(−) ΔWC	0	-0	0	0	0	—
Free Cash Flow (FCF)	60	61	62	62	62	—

Peers' EBITDA Multiple						9.9x
Terminal Value						938
WACC / Discount Rate	6.18%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5
Present Value of FCF	58	56	53	50	47	695

Enterprise Value	958
Projection Period	264	27.5%
Terminal Value	695	72.5%

(−) Current Net Debt	184
Equity Value	775
(÷) Outstanding Shares	15M
Fair Price	$51	+309.6%

Sensitivity Analysis

WACC \ EV/EBITDA Exit Multiple	5.9x	7.9x	9.9x	11.9x	13.9x
4.2%	$36	$46	$56	$66	$76
5.2%	$34	$44	$53	$63	$72
6.2%	$32	$41	$51	$60	$69
7.2%	$31	$39	$48	$57	$66
8.2%	$29	$37	$46	$54	$62

Current price: $12.35. Green = undervalued, Red = overvalued.

Based on default parameters

Fair Value

$54.56

Market Price

$12.35

Upside / Downside

+341.8%

Verdict

Undervalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project J.Jill, Inc.'s cash flows over 10 years with analyst estimates for the first 3–5 years, fading toward long-term GDP growth for the remaining years with line-by-line expense modeling. Revenue is projected revenue growing from -0.5% to 2.6% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 4, DPO 94, DIO 115). At a 6.2% WACC with mid-year discounting, the terminal value (54% of enterprise value) is derived by applying the industry peer median EV/EBITDA multiple of 9.9x to Year 11 EBITDA. After subtracting net debt, the equity value implies a fair price of $54.55 per share, suggesting JILL is undervalued by 341.7% at the current price of $12.35.

FCFF Present Value Calculation

WACC

6.18%

3% – 20%

EV/EBITDA Exit Multiple

9.94x

1x – 40x

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Profit Before Tax	58	57	59	59	59	60	61	62	63	65	66
(−) Net Interest	18	18	18	18	18	18	19	19	19	20	20
(+) D&A	14	15	15	14	14	14	14	14	14	14	15
EBITDA	89	91	92	92	92	92	93	95	97	99	101

(−) Tax	16	16	16	16	16	17	17	17	17	18	—
(−) CapEx	13	13	14	14	14	14	14	14	15	15	—
(−) ΔWC	0	-0	0	0	0	0	0	0	0	0	—
Free Cash Flow (FCF)	60	61	62	62	62	61	62	63	64	66	—

Peers' EBITDA Multiple											9.9x
Terminal Value											1,008
WACC / Discount Rate	6.18%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5.5	6.5	7.5	8.5	9.5	5
Present Value of FCF	58	56	53	50	47	44	42	40	39	37	553

Enterprise Value	1,019
Projection Period	466	45.7%
Terminal Value	553	54.3%

(−) Current Net Debt	184
Equity Value	836
(÷) Outstanding Shares	15M
Fair Price	$55	+341.8%

Sensitivity Analysis

WACC \ EV/EBITDA Exit Multiple	5.9x	7.9x	9.9x	11.9x	13.9x
4.2%	$47	$56	$65	$74	$83
5.2%	$44	$52	$59	$67	$75
6.2%	$40	$47	$55	$62	$69
7.2%	$37	$43	$50	$57	$63
8.2%	$34	$40	$46	$52	$58

Current price: $12.35. Green = undervalued, Red = overvalued.

Based on default parameters

Trading Multiples

Fair Value

$36.73

Market Price

$12.35

Upside / Downside

+197.4%

Verdict

Undervalued

Using the industry peer median P/E Multiples multiple (trailing + forward), J.Jill, Inc. (JILL) has a fair value of $36.73 based on 5 comparable companies in the Apparel - Retail industry.

P/E Valuation — Apparel - Retail

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing P/E	Forward P/E
J.Jill, Inc.JILL	189	6.8x	3.6x
Hamilton Beach Brands Holding CompanyHBB	278	10.6x	14.3x
JAKKS Pacific, Inc.JAKK	259	26.3x	7.7x
Flexsteel Industries, Inc.FLXS	258	13.6x	13.2x
Superior Group of Companies, Inc.SGC	178	24.6x	19.2x
America's Car-Mart, Inc.CRMT	105	5.4x	—
Industry Median		13.6x	13.8x
(*) Profit after tax		28	52
Equity Value		379	746
(/) Outstanding shares		15	15
Fair Price		$25	$49

Selected Fair Value (avg of trailing + forward)

$36.73

+197.4%

Fair Value

$32.62

Market Price

$12.35

Upside / Downside

+164.1%

Verdict

Undervalued

Using the industry peer median EV/EBITDA multiple (trailing + forward), J.Jill, Inc. (JILL) has a fair value of $32.62 based on 7 comparable companies in the Apparel - Retail industry.

EV/EBITDA Valuation — Apparel - Retail

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/EBITDA	Forward EV/EBITDA
J.Jill, Inc.JILL	189	5.4x	5.3x
Designer Brands Inc.DBI	419	29.0x	27.9x
Hamilton Beach Brands Holding CompanyHBB	278	6.5x	5.4x
JAKKS Pacific, Inc.JAKK	259	11.7x	9.6x
Flexsteel Industries, Inc.FLXS	258	9.0x	9.1x
Funko, Inc.FNKO	242	34.4x	33.6x
Superior Group of Companies, Inc.SGC	178	9.9x	9.7x
America's Car-Mart, Inc.CRMT	105	9.3x	9.7x
Industry Median		9.9x	9.7x
(*) EBITDA		69	71
= Enterprise Value		682	685
(-) Net Debt		184	184
Equity Value		498	501
(/) Outstanding shares		15	15
Fair Price		$33	$33

Selected Fair Value (avg of trailing + forward)

$32.62

+164.1%

Fair Value

$8.25

Market Price

$12.35

Upside / Downside

-33.2%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), J.Jill, Inc. (JILL) has a fair value of $8.25 based on 9 comparable companies in the Apparel - Retail industry.

EV/Revenue Valuation — Apparel - Retail

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
J.Jill, Inc.JILL	189	0.6x	0.6x
Designer Brands Inc.DBI	419	0.5x	0.5x
Hamilton Beach Brands Holding CompanyHBB	278	0.4x	0.4x
JAKKS Pacific, Inc.JAKK	259	0.5x	0.4x
Flexsteel Industries, Inc.FLXS	258	0.6x	0.6x
Funko, Inc.FNKO	242	0.5x	0.5x
Superior Group of Companies, Inc.SGC	178	0.5x	0.4x
America's Car-Mart, Inc.CRMT	105	0.7x	0.7x
The Children's Place, Inc.PLCE	75	0.5x	0.4x
Robo.ai Inc.AIIO	10	2.6x	—
Industry Median		0.5x	0.5x
(*) Revenue		597	616
= Enterprise Value		323	297
(-) Net Debt		184	184
Equity Value		139	114
(/) Outstanding shares		15	15
Fair Price		$9	$7

Selected Fair Value (avg of trailing + forward)

$8.25

-33.2%

PEG Fair Value

Fair Value

$30.89

Market Price

$12.35

Upside / Downside

+150.1%

Verdict

Undervalued

PEG Ratio

0.42Deep Value

01.02.03.0+

PEG = P/E ÷ (Growth + Yield) = 5.6 ÷ (9.9% + 3.3%) = 0.42

PEG < 1 = bargain, 1–1.5 = fair, > 2 = expensive.

Growth Category: StalwartPEG highly applicable

PEG works well for steady growers with predictable earnings.

Fair Value Calculation

EPS Growth RateForward	9.9%
Dividend Yield	+3.3%
Adjusted Growth (clamped 8–25%)	13.2%
Fair P/E	13.2x
NTM EPS (FY2026)	$2.33
Fair Value	$30.89

Growth Analysis

Forward GrowthActive

Period	EPS Est.	Growth	Analysts
FY2025 (actual)	$1.82	—	—
FY2026E	$2.33	+28.2%	3
FY2027E	$1.96	-15.9%	4
FY2028E	$2.42	+23.2%	4

3Y Forward EPS CAGR: 9.9%

Historical Growth

Year	Net Income	EPS	YoY
FY2021	$-28.1M	$-2.26	—
FY2022	$42.2M	$2.95	—
FY2023	$36.2M	$2.51	-14.9%
FY2024	$39.5M	$2.61	+4.0%
FY2025	$27.9M	$1.82	-30.3%

4Y Historical EPS CAGR: -13.7%

Earnings Power Value

Fair Value

$47.13

Market Price

$12.35

Upside / Downside

+281.6%

Verdict

Undervalued

Currency: USD Millions

	Low	Selected	High
Normalized Earnings	56	56	56
(/) WACC	7.7%	6.2%	4.7%
Enterprise Value	729	906	1,195
(-) Net debt	184	184	184
Equity Value	545	722	1,012
(/) Outstanding shares	15	15	15
Fair Price	$35.59	$47.13	$66.06

Dividend Discount Model

Fair Value

$3.62

Market Price

$12.35

Upside / Downside

-70.7%

Verdict

Overvalued

Dividend Profile

Current DPS

$0.32

Dividend Yield

3.30%

Payout Ratio

17.4%

Dividend Coverage

5.74x

FCF Payout Ratio19.3%

Historical Dividends Per Share

Year	DPS	Payout Ratio	YoY Growth
2025	$0.32	17.4%	+65.7%
2024	$0.19	7.3%	—
2023	—	0.0%	—
2022	—	0.0%	—
2021	—	—	—

Dividend Projections (5-Year)

Year	Projected DPS	Growth	Discount Factor	Present Value
2026	$0.32	0.0%	0.9044	$0.29
2027	$0.32	0.0%	0.8179	$0.26
2028	$0.32	0.0%	0.7397	$0.23
2029	$0.32	0.0%	0.6690	$0.21
2030	$0.32	0.0%	0.6050	$0.19
Terminal Value	$0.33 DPS	2.5%		$2.44

PV of Projected Dividends$1.19

PV of Terminal Value$2.44

Fair Value per Share$3.62

Sensitivity Analysis

Fair value under different Cost of Equity (rows) and DPS Growth Rate (columns) assumptions.

Ke \ Growth	0.0%	0.0%	0.0%	1.0%	2.0%
8.6%	$5	$5	$5	$5	$5
9.6%	$4	$4	$4	$4	$5
10.6%	$4	$4	$4	$4	$4
11.6%	$3	$3	$3	$3	$4
12.6%	$3	$3	$3	$3	$3