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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
+24.6%
$27.50
vs $22.07 price
Levered DCF
$38.98
After debt service
Piotroski score
7 / 9
Strong
Altman Z-score
0.58
Distress zone
Rating
A-
Overall 4 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2017
P/E12.6×15.65×9.65×18.94×15.11×15.74×45.39×375×
P/B0.83×0.94×0.66×2.03×1.71×1.63×1.68×1.55×
P/S2.92×3.73×2.81×5.13×4.51×6.07×8.77×4.68×
EV / EBITDA7.43×9.36×4.87×11.49×4.96×8.61×24.82×18.83×
Gross margin76.6%77.0%80.5%88.5%86.4%81.9%85.4%87.6%
Operating margin32.4%33.3%39.6%37.5%40.4%45.2%26.4%16.4%
Net margin25.7%23.8%29.2%27.1%29.7%38.5%19.5%1.3%
Current ratio0.12×0.15×0.18×0.15×0.22×0.19×0.15×0.17×
Debt / equity0.19×0.26×0.19×0.5×0.44×0.74×0.09×0.14×
Interest coverage1.33×1.43×2.03×4.24×3.44×3.1×1.92×1.51×
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
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2017
Return on equity7.3%6.0%6.9%10.8%11.3%10.3%3.7%0.4%
Return on invested capital5.1%4.5%5.5%6.6%7.0%5.4%3.2%0.3%
Return on assets1.5%1.3%1.5%1.2%1.2%0.9%0.8%0.1%
Free cash flow yield12.3%8.4%11.4%4.6%7.1%3.9%0.6%5.5%
Earnings yield8.8%6.4%10.4%5.3%6.6%6.3%2.2%0.3%
Enterprise value$132.2M$162.9M$95.7M$179.1M$68.7M$83.4M$92.8M$26.2M
Net debt / EBITDA-1.16×-1.18×-1.85×-1.26×-5.37×-3.85×-4.88×-5.38×
Cash conversion cycle (days)2223252830542925