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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
+60.0%
$20.95
vs $13.09 price
Levered DCF
$12.21
After debt service
Piotroski score
3 / 9
Weak
Altman Z-score
30.99
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/E10.6×10.42×9.15×12.98×10.32×10.56×9.92×7.64×
P/B22.1×24.41×39.44×51.53×21.05×6.57×6.42×7.68×
P/S8.24×9.05×8.52×12.22×9.24×9.31×8.83×7.17×
EV / EBITDA9.56×9.91×8.74×12.53×6.12×9.06×9.09×7.49×
Gross margin95.3%100.0%100.0%100.0%100.0%100.0%100.0%100.0%
Operating margin77.6%85.6%93.4%93.9%89.7%88.0%88.2%93.5%
Net margin77.6%86.5%93.4%94.0%89.7%88.1%88.6%93.7%
Current ratio3.11×3.68×1×2.11×2.22×3.68×2.99×2.66×
Debt / equity0×0×0×0×0×0×0×0×
Interest coverage0×0×0×0×0×0×0×0×
Dividend yield8.8%8.9%11.0%7.7%9.7%9.4%10.0%13.1%
Payout ratio93.0%93.4%100.0%100.0%100.0%99.9%100.0%100.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity208.1%233.3%432.2%396.5%204.3%62.1%64.4%100.4%
Return on invested capital124.5%163.6%432.2%296.0%156.4%54.8%57.1%89.6%
Return on assets104.5%149.1%255.0%241.4%131.1%52.5%54.4%84.5%
Free cash flow yield0.0%0.0%11858.1%7.7%12.4%-737.7%9.3%11.9%
Earnings yield9.4%9.6%11.0%7.7%9.7%9.5%10.0%13.1%
Enterprise value$45.6M$58M$103.5M$150.7M$66.9M$48.1M$50.9M$63.9M
Net debt / EBITDA-0.45×-0.23×-0.16×-0.16×-0.17×-0.26×-0.27×-0.19×
Cash conversion cycle (days)00000000