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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
-28.8%
$25.95
vs $36.46 price
Levered DCF
$23.87
After debt service
Piotroski score
6 / 9
Average
Altman Z-score
18.95
Safe zone
Rating
B+
Overall 3 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E14.73×19.37×13.74×10.93×16.89×17.14×11.31×11.07×
P/B2.07×2.2×1.84×1.44×1.61×1.06×1.12×1.13×
P/S1.81×2.21×1.93×1.37×1.98×1.55×1.46×1.43×
EV / EBITDA7.89×10.28×8.04×6.43×7.91×6.81×5.54×5.82×
Gross margin30.4%28.3%30.5%29.3%30.4%28.7%31.4%32.4%
Operating margin14.3%11.7%15.8%15.3%14.6%10.3%14.2%15.1%
Net margin12.3%11.4%14.0%12.5%11.8%9.0%12.9%12.9%
Current ratio5.87×6.67×7.36×6.68×7.31×7.7×7.28×5.57×
Debt / equity0×0×0×0×0×0×0×0×
Interest coverage0×0×0×0×0×0×0×0×
Dividend yield9.5%12.2%4.0%14.9%3.6%2.8%1.9%1.5%
Payout ratio139.2%237.6%54.5%162.3%59.9%48.2%21.8%16.3%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity14.1%11.3%13.4%13.2%9.6%6.2%9.9%10.2%
Return on invested capital12.2%8.8%11.4%12.1%8.9%5.3%8.2%8.7%
Return on assets12.5%10.2%12.0%11.8%8.6%5.6%9.0%9.2%
Free cash flow yield6.7%6.7%7.9%5.8%2.3%7.8%8.4%8.3%
Earnings yield6.8%5.1%7.3%9.2%5.9%5.8%8.8%9.0%
Enterprise value$232.6M$261.3M$269.8M$201.3M$202.3M$106.5M$118.2M$123.8M
Net debt / EBITDA-1.83×-2.39×-1.23×-0.85×-3×-4.52×-2.96×-2.13×
Cash conversion cycle (days)124121128125123104103101