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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
+357.3%
$27.30
vs $5.97 price
Levered DCF
$29.98
After debt service
Piotroski score
5 / 9
Average
Altman Z-score
0.14
Distress zone
Rating
C
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-0.6×-1.77×-472.44×-33.95×14.11×-55.8×123.35×-370.05×
P/B0.7×1.19×1.22×1.67×2.72×3.89×342.65×-291.97×
P/S0.41×0.92×1.89×3.02×5.75×13.93×16.59×21.81×
EV / EBITDA3.14×4.77×22.21×33.28×69.61×126.78×93.91×-887×
Gross margin68.3%63.7%64.3%62.5%59.0%57.1%70.0%69.4%
Operating margin26.3%24.1%4.3%0.9%-3.9%-2.0%19.1%-4.5%
Net margin-71.8%-52.0%-0.4%-8.8%40.7%-25.0%13.5%-6.0%
Current ratio2.21×2.47×2.01×2.37×2.67×1.04×1.4×1.25×
Debt / equity1.07×0.76×0.39×0.39×0.41×0.4×0.68×0×
Interest coverage5.99×6.46×2.1×0.34×-1.22×-58.71×0×0×
Dividend yield0.0%0.0%0.0%0.0%0.0%4.4%0.3%0.5%
Payout ratio0.0%0.0%0.0%0.0%0.0%-247.5%35.3%-173.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity-123.7%-67.6%-0.3%-4.9%19.3%-7.0%279.5%80.0%
Return on invested capital19.8%10.8%-0.5%0.2%1.5%-0.3%91.6%-41.7%
Return on assets-49.0%-22.1%-0.1%-2.2%8.2%-4.0%31.5%-18.4%
Free cash flow yield60.7%9.8%8.4%4.3%2.1%29.6%1.1%0.8%
Earnings yield-176.3%-56.6%-0.2%-2.9%7.1%-1.8%0.8%-0.3%
Enterprise value$880.9M$1.6B$2.6B$3.4B$5.4B$10.1B$9.4B$9.1B
Net debt / EBITDA1.51×1.29×2.4×2.34×3.7×8.86×-0.41×3.25×
Cash conversion cycle (days)2828332817336627