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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
-1023.7%
-$24.48
vs $2.65 price
Levered DCF
-$46.12
After debt service
Piotroski score
8 / 9
Strong
Altman Z-score
-0.12
Distress zone
Rating
A
Overall 4 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E13.42×38.65×-2.38×9.67×59.07×-2.49×-5.63×6.88×
P/B0.39×0.35×0.42×0.44×0.52×0.5×0.62×0.71×
P/S0.88×2.36×-5×2.85×5.09×-2.74×-5.18×5.24×
EV / EBITDA22.29×2.59×13.17×5.38×6.36×11.2×176.39×34.65×
Gross margin91.2%100.0%100.0%100.0%100.0%100.0%100.0%8.0%
Operating margin55.9%0.0%0.0%0.0%0.0%0.0%0.0%-8.0%
Net margin6.5%34.6%164.1%54.1%43.7%92.5%105.5%76.0%
Current ratio0.07×0×0×0×0×0×0.06×0.05×
Debt / equity5.43×0.66×0.66×0.7×0.53×0.36×6.35×4.88×
Interest coverage1.18×0×0×0×0×0×0×-0.11×
Dividend yield30.9%34.5%29.4%26.9%19.9%20.9%16.0%14.7%
Payout ratio419.7%235.3%-89.7%141.8%231.7%-61.9%-78.7%101.6%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity2.9%5.2%-13.6%8.3%4.5%-16.8%-12.6%10.3%
Return on invested capital2.9%0.0%0.0%0.0%0.0%0.0%0.0%-0.2%
Return on assets0.4%0.8%-2.5%1.5%0.9%-3.3%-1.7%1.7%
Free cash flow yield-5.1%-5.8%38.3%19.1%-5.1%5.3%-13.6%-43.6%
Earnings yield7.4%14.7%-32.8%19.0%8.6%-33.8%-20.4%14.5%
Enterprise value$1.3B$186.5M$222.5M$241.2M$224.6M$182M$2.7B$2B
Net debt / EBITDA20.72×1.46×6.89×2.82×2.3×1.69×160.22×30.15×
Cash conversion cycle (days)21101-13650866-149-241158