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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
-136.5%
-$22.51
vs $61.67 price
Levered DCF
$12.35
After debt service
Piotroski score
5 / 9
Average
Altman Z-score
10.28
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-35.98×-27.01×-12.37×-52.85×-194.65×-61.14×-43.81×-40.86×
P/B4.6×5.64×3.74×5.69×9.37×7.68×4.37×2.96×
P/S7×11.12×9.26×10.21×15.45×16.35×8.55×5.46×
EV / EBITDA-53.16×-33.05×-15.81×-65.52×-339.41×-69.43×-45.64×-31.6×
Gross margin58.0%58.8%60.4%61.9%62.7%60.8%58.0%60.7%
Operating margin-21.1%-44.4%-68.2%-22.0%-8.9%-27.4%-21.7%-17.7%
Net margin-19.4%-41.1%-74.8%-19.4%-8.0%-26.8%-19.6%-13.4%
Current ratio2.31×2.65×3.38×3.65×2.99×6.72×8.44×10.5×
Debt / equity0.02×0.01×0.01×0.01×0.02×0.02×0.02×0×
Interest coverage0×0×0×0×0×0×0×0×
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-12.8%-20.9%-30.3%-10.8%-4.8%-12.6%-10.0%-7.3%
Return on invested capital-13.3%-22.1%-26.7%-10.9%-4.8%-12.2%-10.4%-8.3%
Return on assets-9.5%-17.0%-25.8%-9.2%-4.0%-10.4%-8.5%-6.5%
Free cash flow yield2.1%0.7%0.3%0.8%0.6%0.7%1.9%1.7%
Earnings yield-2.8%-3.7%-8.1%-1.9%-0.5%-1.6%-2.3%-2.4%
Enterprise value$2.6B$3B$2B$3.3B$5B$3.4B$1.7B$1B
Net debt / EBITDA3.69×1.52×1.13×2.06×10.89×4.69×5.82×5.84×
Cash conversion cycle (days)33784212090626064