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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
-16.5%
$37.38
vs $44.77 price
Levered DCF
$55.10
After debt service
Piotroski score
4 / 9
Average
Altman Z-score
2.24
Grey zone
Rating
C+
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E19.03×12.95×12.96×-26.94×-77.53×-28.5×-16.32×-32.79×
P/B2.53×3.25×3.83×4.1×3.36×2.97×2.95×3.91×
P/S3.12×3.05×2.77×3.85×3.19×3.05×2.74×4.18×
EV / EBITDA10.75×9.18×8.71×73.03×21.52×-548.69×-31.94×-583.21×
Gross margin86.7%84.2%84.8%80.4%83.2%82.8%84.6%83.9%
Operating margin17.2%27.0%24.9%-0.5%8.3%-10.8%-15.0%-9.1%
Net margin16.4%23.6%21.4%-14.2%-4.1%-10.7%-16.8%-12.7%
Current ratio3.55×3.04×2.86×2.27×2.25×2.53×2.46×2.89×
Debt / equity0.04×0.05×0.31×0.36×0.37×0.38×0.27×0.24×
Interest coverage20.69×18.63×17.98×-0.47×8.71×-12.98×-12.9×-6.42×
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 equity13.3%25.1%29.6%-15.2%-4.3%-10.4%-18.1%-11.9%
Return on invested capital10.6%22.1%25.5%-0.4%5.4%-7.3%-12.3%-6.7%
Return on assets9.6%17.9%16.7%-8.1%-2.4%-5.7%-10.9%-7.6%
Free cash flow yield10.4%8.5%7.7%-0.4%1.9%1.3%-0.6%0.7%
Earnings yield5.2%7.7%7.7%-3.7%-1.3%-3.5%-6.1%-3.0%
Enterprise value$3.6B$4.5B$4.5B$4.4B$3.8B$3.3B$3.3B$4.6B
Net debt / EBITDA-3.17×-0.44×-0.16×1.45×0.44×-22.77×-0.85×-1.59×
Cash conversion cycle (days)247295247346277265179205