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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
-391.6%
-$47.06
vs $16.14 price
Levered DCF
-$26.59
After debt service
Piotroski score
6 / 9
Average
Altman Z-score
8.55
Safe zone
Rating
A
Overall 4 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E7.45×224.5×-16.65×-5.68×-16.34×-15.9×-15.23×-8.97×
P/B3.69×3.4×3.41×1.51×6.18×4.02×6.31×5.14×
P/S7.57×5.46×7.34×4.57×64.88×32.69×5,926.62×1,248.84×
EV / EBITDA16.73×40.36×-21.2×-5.08×-15.42×-13.36×-17.59×-8.53×
Gross margin88.5%88.0%91.9%95.8%97.6%100.0%100.0%-8837.8%
Operating margin37.1%-2.0%-52.2%-83.2%-396.3%-208.1%-28598.4%-12129.2%
Net margin101.5%2.4%-44.5%-80.7%-396.8%-204.9%-27794.0%-13848.8%
Current ratio5.25×4.57×5.5×9.6×12.63×13.11×27.9×18.3×
Debt / equity0.13×0.21×0.26×0.02×0.02×0.02×0×0×
Interest coverage24.23×-0.97×-33.04×0×0×0×0×0×
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
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity49.4%1.5%-20.6%-26.7%-37.8%-25.2%-29.6%-57.0%
Return on invested capital15.5%-0.8%-18.8%-26.2%-35.9%-24.1%-29.1%-40.5%
Return on assets38.2%1.0%-14.2%-23.0%-33.3%-22.1%-27.3%-44.0%
Free cash flow yield6.3%3.4%-2.7%-13.0%-5.4%-4.7%-3.4%-8.9%
Earnings yield13.4%0.4%-6.1%-17.6%-6.1%-6.3%-4.7%-11.1%
Enterprise value$2.1B$1.3B$1.3B$527M$2.7B$1.4B$1.6B$460.2M
Net debt / EBITDA-0.04×-0.13×-0.77×0.83×1.26×2.56×3.41×2.19×
Cash conversion cycle (days)5274979631,4335,2910422145