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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
-52.0%
$15.06
vs $31.39 price
Levered DCF
$131.30
After debt service
Piotroski score
6 / 9
Average
Altman Z-score
-0.51
Distress zone
Rating
B+
Overall 3 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E12.1×10.55×14.91×19.44×17.04×-5.19×25.27×25.2×
P/B1.05×1.1×1.04×2.64×2.61×2.92×2.08×1.97×
P/S2.57×1.9×1.9×4.85×5.44×5.55×6.1×5.94×
EV / EBITDA13.17×8.82×12.69×14.54×9.12×-4.89×18.16×18.55×
Gross margin67.7%61.5%65.0%88.0%100.0%76.5%80.8%86.3%
Operating margin23.4%24.2%17.2%33.4%42.3%-102.2%31.9%31.4%
Net margin17.1%18.0%12.7%25.0%31.9%-106.9%24.1%23.5%
Current ratio0.22×0.09×0.3×0.23×0.3×0.28×0.25×0.24×
Debt / equity0.51×0.76×0.95×0.69×0.35×0.59×0.39×0.35×
Interest coverage0.82×0.69×0.63×5.78×13.17×-11.19×2.23×3.29×
Dividend yield4.1%5.3%5.2%2.8%2.6%2.3%2.1%2.2%
Payout ratio60.9%56.3%77.5%54.1%43.7%-12.1%52.3%55.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity7.0%10.4%7.0%13.6%15.3%-56.3%8.2%7.8%
Return on invested capital0.8%5.4%3.3%7.0%10.4%-31.6%5.6%5.5%
Return on assets0.8%1.0%0.7%1.1%1.4%-5.2%1.2%1.2%
Free cash flow yield8.6%11.1%12.9%15.9%9.0%1.0%-1.0%6.2%
Earnings yield6.7%9.5%6.7%5.2%5.9%-19.3%3.9%4.0%
Enterprise value$11.8B$7.7B$7.8B$7B$5.4B$6.9B$9.3B$8.8B
Net debt / EBITDA3.92×2.34×4.22×0.88×-3.03×0.68×0.66×1.72×
Cash conversion cycle (days)26204230462439403388-2,160