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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
-639.3%
-$252.99
vs $46.91 price
Levered DCF
-$274.81
After debt service
Piotroski score
5 / 9
Average
Altman Z-score
2.21
Grey zone
Rating
B
Overall 3 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-70.26×-1.72×-2.35×-4.52×-10.98×-19.63×-3.01×-17.01×
P/B24.14×3.54×4.36×2.22×1.78×0.99×0.72×2.16×
P/S3.83×2.75×22.41×56.57×10.06×5.22×36.63×209.87×
EV / EBITDA9.73×-5.36×-2.37×-5.04×-2.89×-7.28×-1.3×-15.76×
Gross margin99.0%-79.5%-671.0%-763.2%-55.9%-6.7%-1141.7%-1023.9%
Operating margin20.4%-125.9%-958.3%-1119.4%-89.9%-31.8%-1342.9%-1334.4%
Net margin-5.6%-159.1%-953.7%-1251.3%-91.5%-26.6%-1216.7%-1233.1%
Current ratio9.07×9.51×10.87×17.16×34.4×20.01×12.79×19.89×
Debt / equity0.38×5.21×0.2×0.07×0.06×0×0.01×0.02×
Interest coverage0.6×-2.29×-9.09×-5.46×-39.18×0×-103.2×-40.39×
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-35.6%-204.9%-185.7%-49.1%-16.2%-5.0%-24.0%-12.7%
Return on invested capital14.6%-26.1%-39.5%-19.7%-9.0%-6.0%-26.3%-13.4%
Return on assets-3.6%-30.0%-36.2%-21.1%-9.0%-4.8%-22.4%-12.1%
Free cash flow yield2.2%-54.1%-31.6%-12.7%-7.4%-3.8%-24.0%-4.7%
Earnings yield-1.5%-58.0%-42.6%-22.1%-9.1%-5.1%-33.2%-5.9%
Enterprise value$674.1M$497M$366.3M$530M$160.8M$141.1M$124.9M$944M
Net debt / EBITDA-3.24×-2.66×0.12×0.49×8.52×12.91×1.75×1.76×
Cash conversion cycle (days)-53015413339-1-19-60-23