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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
-91.5%
$0.81
vs $9.55 price
Levered DCF
$0.77
After debt service
Piotroski score
2 / 9
Weak
Altman Z-score
19.9
Safe zone
Rating
C
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
P/E-28.21×-25.18×-16.92×-18.38×-13.79×-5.13×-34.22×-54.92×
P/B25.52×26.16×19.58×15.28×29.29×16.29×-6.93×22.12×
P/S4,505.39×1,334.26×368.76×971.29×0×780.95×35.92×118.76×
EV / EBITDA-41.34×-26.01×-17.41×-18.02×-13.7×-8.87×-57.61×-52.86×
Gross margin-319.9%100.0%100.0%100.0%0.0%100.0%100.0%100.0%
Operating margin-10777.9%-5122.2%-2190.3%-5318.8%0.0%-8355.2%-83.1%-224.0%
Net margin-16057.6%-5253.1%-2203.4%-5348.3%0.0%-8459.6%-105.8%-222.7%
Current ratio49.41×16.19×7.37×9.48×3.9×5.03×0.05×10.28×
Debt / equity0.02×0.01×0.02×0.02×0.1×0.37×-0.57×0×
Interest coverage-572.2×-437.92×-233.39×-224.73×-102.81×-46.31×-3.96×0×
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
MetricFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Return on equity-91.0%-103.0%-117.0%-84.1%-212.2%-176.4%20.4%-41.5%
Return on invested capital-38.4%-95.8%-113.8%-81.8%-180.7%-127.4%43.9%-41.7%
Return on assets-56.3%-94.6%-106.9%-77.3%-157.7%-105.9%-131.8%-39.4%
Free cash flow yield-1.9%-3.4%-5.1%-6.1%-5.3%-3.5%-0.2%-2.0%
Earnings yield-3.6%-3.9%-6.0%-5.5%-7.2%-10.8%-2.9%-1.9%
Enterprise value$724.6M$301.7M$121.8M$102.6M$68.3M$27.4M$9.1M$13M
Net debt / EBITDA2.16×0.59×0.38×0.68×0.38×0.71×-4.13×0.15×
Cash conversion cycle (days)1834813551,5350740135