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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
-350.8%
-$440.18
vs $175.54 price
Levered DCF
-$190.13
After debt service
Piotroski score
6 / 9
Average
Altman Z-score
1.49
Distress zone
Rating
B-
Overall 3 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E87.2×-9.64×-71.02×-22.95×-28.16×-10.19×-290.86×17.87×
P/B30.35×-29.3×-9.16×-7.13×-7.89×-6.65×-21.47×551.3×
P/S1.85×1.72×2.03×1.7×1.9×2.09×2.42×1.85×
EV / EBITDA28.4×-20.25×85.41×-323.49×-963.61×-17.65×276.64×13.61×
Gross margin4.8%-3.0%9.9%5.3%4.9%-9.8%5.8%19.4%
Operating margin4.8%-16.3%-1.1%-5.3%-4.6%-22.0%-2.6%11.9%
Net margin2.5%-17.8%-2.9%-7.4%-6.7%-20.5%-0.8%10.3%
Current ratio1.19×1.32×1.14×1.22×1.33×1.39×1.05×1.08×
Debt / equity9.98×-13.87×-3.05×-3.61×-3.89×-3.49×-3.2×40.85×
Interest coverage1.54×-3.97×-0.33×-1.39×-1.07×-5.92×-2.74×25.24×
Dividend yield0.2%0.0%0.0%0.0%0.0%1.0%2.5%2.1%
Payout ratio14.8%0.0%0.0%0.0%0.0%-9.7%-728.0%37.7%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity41.0%302.4%12.9%31.1%28.0%65.2%7.4%3085.5%
Return on invested capital5.3%-17.2%-1.8%-6.7%-4.2%-15.8%-1.3%27.7%
Return on assets1.3%-7.6%-1.6%-3.6%-3.0%-7.8%-0.5%8.9%
Free cash flow yield-1.1%-12.6%2.8%2.0%-3.7%-16.2%-2.4%7.2%
Earnings yield1.4%-10.3%-1.4%-4.4%-3.6%-9.8%-0.3%5.6%
Enterprise value$209B$154.9B$197.7B$155.9B$168.6B$177.8B$203.1B$193.1B
Net debt / EBITDA5.91×-5.28×17.24×-88.51×-287.53×-5.57×24.62×0.44×
Cash conversion cycle (days)356467405455495456369274