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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
-26.2%
$8.56
vs $11.61 price
Levered DCF
$18.93
After debt service
Piotroski score
5 / 9
Average
Altman Z-score
-1.42
Distress 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-12.81×-19.23×-14.89×-7.6×-32.2×-27.07×-38.4×-84.71×
P/B15.75×21.52×11.76×8.7×45.42×-447.74×-31.45×-23.8×
P/S3.07×6.76×5.88×5.67×24.46×25.22×32.05×56.12×
EV / EBITDA-15.58×-21.7×-16.51×-7.33×-35.91×-35.49×-38.69×-91.81×
Gross margin89.0%89.3%90.1%89.7%89.7%87.3%86.1%82.0%
Operating margin-25.0%-36.8%-41.4%-74.5%-70.1%-77.3%-83.9%-67.8%
Net margin-23.9%-35.3%-39.4%-74.5%-76.2%-93.3%-83.2%-66.3%
Current ratio1.18×1.44×1.8×1.99×1.61×2.73×3.8×2.37×
Debt / equity1.62×1.18×0.85×0.76×1.25×-45.81×-1.55×0×
Interest coverage-62.68×-72.42×-68.32×-203.91×-14.42×-4.85×-1,533.73×0×
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-122.6%-112.3%-78.7%-114.4%-141.5%1655.4%81.6%28.1%
Return on invested capital-48.3%-53.0%-44.0%-64.0%-57.1%-30.5%-35.9%-74.0%
Return on assets-22.4%-28.7%-26.7%-42.7%-40.8%-29.0%-28.1%-44.8%
Free cash flow yield3.6%0.2%-0.8%-5.4%-1.4%-2.6%-1.0%-0.8%
Earnings yield-7.8%-5.2%-6.7%-13.2%-3.1%-3.7%-2.6%-1.2%
Enterprise value$2.5B$5B$3.9B$2.8B$9.3B$6.1B$4.5B$4.3B
Net debt / EBITDA-0.31×-0.36×-0.18×0.66×-0.06×-1.91×0.7×0.51×
Cash conversion cycle (days)-28-3106-51-70-106148