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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
-246.8%
-$184.32
vs $125.57 price
Levered DCF
-$97.75
After debt service
Piotroski score
3 / 9
Weak
Altman Z-score
3.4
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-36.11×97.13×72.96×-14.65×-223.11×78.28×34.63×34.28×
P/B2.18×4.79×5.28×4.62×3.26×4.34×2.81×3.51×
P/S4.84×5.17×6.06×4.71×4.45×6.72×3.91×5.16×
EV / EBITDA-286.81×40.9×39.59×23.01×40.91×39.23×21.17×31.59×
Gross margin25.3%39.4%39.6%32.1%31.7%41.7%41.7%40.9%
Operating margin-3.6%5.0%10.0%-33.1%-2.2%11.0%12.8%10.8%
Net margin-13.4%5.3%8.3%-32.6%-0.9%5.9%11.2%15.1%
Current ratio4.3×3.52×3.56×3.93×3.64×4.18×7.53×10.47×
Debt / equity0.19×0.07×0.07×0.3×0.36×0.36×0.02×0×
Interest coverage-12.52×18.64×17.02×-19.07×-1.82×70.09×0×0×
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-6.0%4.9%7.3%-32.0%-0.7%3.8%8.1%10.3%
Return on invested capital-1.2%4.2%7.8%-22.9%-0.3%5.0%7.9%6.6%
Return on assets-4.6%3.9%5.9%-21.4%-0.5%2.5%7.0%9.3%
Free cash flow yield-1.7%-0.6%-0.2%-0.1%-1.6%2.8%1.0%0.6%
Earnings yield-2.8%1.0%1.4%-6.9%-0.2%0.9%2.9%2.9%
Enterprise value$10B$4.3B$4.3B$2.6B$2.1B$2.7B$1.2B$1.4B
Net debt / EBITDA-13.08×0.22×-0.12×0.27×2.69×1.06×-4.36×-3.76×
Cash conversion cycle (days)201227223237221198192173