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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
-512.8%
-$122.28
vs $29.62 price
Levered DCF
-$102.84
After debt service
Piotroski score
4 / 9
Average
Altman Z-score
0.45
Distress zone
Rating
C+
Overall 2 / 5
Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-1.17×14.21×-324×26.99×28.23×-6.57×26.79×-12.79×
P/B0.66×1.18×2.54×2.62×2.14×2.33×1.16×0.96×
P/S0.39×1.15×2.41×2.83×2.33×2.11×1.45×0.74×
EV / EBITDA-5.16×9.28×44.86×15.69×15×16.69×15.09×13.96×
Gross margin17.6%22.6%23.3%96.2%96.1%95.8%40.6%41.0%
Operating margin11.7%16.6%17.3%17.9%17.9%0.0%32.9%13.7%
Net margin-33.3%8.1%-0.7%10.5%8.2%-32.2%5.4%-5.8%
Current ratio1.55×1×0.67×1.3×1.22×1.93×1.17×1.08×
Debt / equity1.36×0.68×0.54×0.54×0.65×1.71×1.3×1.37×
Interest coverage2.79×4.49×6.17×6.7×5.38×0×3.53×2.23×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity-56.6%8.3%-0.8%9.7%7.6%-35.4%4.3%-7.5%
Return on invested capital7.7%7.4%6.9%7.5%7.1%0.0%6.9%7.1%
Return on assets-20.0%4.3%-0.4%5.5%4.0%-10.3%1.6%-2.8%
Free cash flow yield-34.2%-15.4%0.5%1.1%2.4%10.0%1.7%3.2%
Earnings yield-85.7%7.0%-0.3%3.7%3.5%-15.2%3.7%-7.8%
Enterprise value$3.8B$5.6B$8.5B$8.8B$6.9B$7.3B$6.1B$5.4B
Net debt / EBITDA-3.42×3.31×7.46×2.55×3.27×6.59×7.85×8.14×
Cash conversion cycle (days)411529-313-329-2953215