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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
+136.4%
$55.00
vs $23.27 price
Levered DCF
$35.50
After debt service
Piotroski score
7 / 9
Strong
Altman Z-score
2.38
Grey zone
Rating
B
Overall 3 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E7.1×10.39×11.17×12.94×11.02×10.84×-14.08×9.66×
P/B-3.61×-5.97×-6.03×-4.7×-9.68×-13.83×-3.45×-7.15×
P/S0.63×1.13×1.32×1.37×1.87×1.42×0.96×0.47×
EV / EBITDA6.1×7.74×8.75×9.41×8.62×6.3×8.14×5.79×
Gross margin43.7%44.3%43.6%43.1%48.9%48.1%44.2%37.0%
Operating margin15.4%17.3%17.3%18.2%25.5%24.9%19.2%9.3%
Net margin8.9%10.9%11.8%10.6%16.9%13.1%-6.8%4.9%
Current ratio1.27×1.48×1.64×1.64×2.33×1.97×1.37×1.64×
Debt / equity-3.87×-3.58×-3.43×-2.75×-3.96×-11.3×-6.06×-6.69×
Interest coverage4.08×4.06×3.72×3.95×5.18×3.71×2.81×3.21×
Dividend yield3.6%2.1%1.9%1.8%0.8%0.9%6.4%10.7%
Payout ratio25.7%22.2%20.7%23.3%9.0%9.8%-90.7%103.4%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity-50.7%-57.6%-54.0%-36.3%-87.8%-127.5%24.4%-74.1%
Return on invested capital21.0%25.6%25.4%24.4%30.9%13.9%9.5%15.0%
Return on assets12.8%16.4%16.1%14.6%22.1%7.3%-3.6%8.0%
Free cash flow yield18.8%8.0%6.7%7.9%8.3%19.8%15.1%12.0%
Earnings yield14.1%9.6%8.9%7.7%9.1%9.2%-7.1%10.4%
Enterprise value$8.6B$12.6B$14.3B$15.2B$18.7B$13.1B$12.7B$10.6B
Net debt / EBITDA2.83×2.64×2.75×2.99×1.86×1.89×4.84×2.4×
Cash conversion cycle (days)3046403236339834