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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
+425.7%
$19.79
vs $3.77 price
Levered DCF
$20.58
After debt service
Piotroski score
3 / 9
Weak
Altman Z-score
-0.53
Distress zone
Rating
D+
Overall 1 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-17.17×-17.49×-11.31×-4.58×-32.75×-116.64×-112.92×-106.28×
P/B8.41×14.23×28.64×14.01×18.14×20.57×-18.78×-19.45×
P/S0.97×1.43×2.36×2.29×11.41×29.27×43.11×44.76×
EV / EBITDA82×-85.45×-23.33×-7.07×-36.41×-135.75×-127.26×-116.05×
Gross margin78.7%76.7%76.0%74.9%77.9%77.6%75.9%76.1%
Operating margin-4.7%-12.5%-23.4%-50.4%-34.5%-25.4%-36.6%-41.3%
Net margin-5.6%-8.1%-20.9%-50.1%-34.9%-24.7%-38.0%-42.3%
Current ratio1.98×2.85×4.83×4.75×7.24×5.54×0.93×1.92×
Debt / equity4.21×6.61×13.72×7.67×2.52×0.07×-0.23×-0.12×
Interest coverage-1.62×-6.89×-25.12×-161.94×-298.99×-12.47×-25.43×-25.51×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.3%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%-34.1%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity-49.1%-81.0%-253.3%-306.4%-55.4%-17.3%16.6%18.4%
Return on invested capital-7.9%-16.4%-19.2%-35.3%-15.3%-16.5%-150.5%-117.2%
Return on assets-6.3%-7.9%-14.6%-29.5%-13.8%-13.6%-76.0%-65.8%
Free cash flow yield5.7%4.7%-3.9%-14.8%-1.7%-0.6%-0.9%-0.8%
Earnings yield-5.8%-5.7%-8.8%-21.9%-3.1%-0.8%-0.9%-0.9%
Enterprise value$452.1M$606.6M$1B$898.5M$2.6B$4.3B$4.9B$4.1B
Net debt / EBITDA22×-18.55×-6.44×-2.03×-0.72×6.49×-1.34×-0.33×
Cash conversion cycle (days)420594-7393