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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
-104.9%
-$2.81
vs $57.84 price
Levered DCF
$41.68
After debt service
Piotroski score
8 / 9
Strong
Altman Z-score
10.19
Safe 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-164.83×-32.17×-54.08×-43.51×62.64×-48.83×-34.59×-49.35×
P/B3.84×3.11×3.55×4.44×6.48×5.69×4.94×4.18×
P/S3.53×3.08×4.14×6.14×11.42×11.35×5.29×5.17×
EV / EBITDA111.39×-74.95×-202.61×-69.36×48.15×-70.73×-59.02×-140.83×
Gross margin74.4%74.7%75.2%74.4%75.0%72.3%73.8%73.0%
Operating margin-0.6%-8.6%-6.7%-12.9%20.1%-21.4%-14.4%-8.5%
Net margin-2.1%-9.6%-7.6%-14.1%18.3%-23.3%-15.2%-10.5%
Current ratio3.96×3.65×3.57×3.69×3.47×6.24×2.87×4.34×
Debt / equity0.18×0.17×0.16×0.16×0.16×0.18×0.31×0.21×
Interest coverage-0.59×-6.25×-3.85×-8.56×11.23×-9.05×-8.06×-3.72×
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-2.3%-9.7%-6.5%-10.2%10.4%-11.7%-14.2%-8.5%
Return on invested capital-0.6%-7.4%-4.9%-8.0%9.8%-6.6%-6.5%-5.3%
Return on assets-1.7%-7.3%-5.0%-7.9%8.2%-6.7%-6.3%-5.9%
Free cash flow yield2.6%-0.8%-2.3%-1.9%-0.8%-1.1%-2.3%-1.0%
Earnings yield-0.6%-3.1%-1.8%-2.3%1.6%-2.1%-2.9%-2.0%
Enterprise value$1.8B$1.4B$1.6B$2B$3.2B$2.4B$1.3B$1.1B
Net debt / EBITDA-4.89×2.49×1.21×-0.56×0.49×-0.95×-2.23×-2.68×
Cash conversion cycle (days)46203198160153183132131