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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
+49.4%
$34.68
vs $23.22 price
Levered DCF
$2.80
After debt service
Piotroski score
9 / 9
Strong
Altman Z-score
2.91
Grey zone
Rating
B+
Overall 3 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E9.67×26.8×21.5×5.52×8.65×-76.31×27.79×4.35×
P/B2.77×2.04×3.19×2.03×7.13×-11.29×-15.18×-6.73×
P/S0.31×0.2×0.38×0.2×0.32×0.33×0.33×0.14×
EV / EBITDA5.23×6.18×7.5×6.95×5.57×10.84×11.21×5.08×
Gross margin10.1%12.8%13.5%11.3%10.8%10.0%10.0%9.5%
Operating margin5.6%3.7%4.9%4.0%7.9%2.6%2.6%7.1%
Net margin3.2%0.8%1.9%3.6%4.2%-0.4%-0.4%3.3%
Current ratio1.29×1.27×1.31×1.21×1.13×1.35×1.06×1.27×
Debt / equity2.04×2.74×2.22×2.81×7.77×-20.79×-24.59×-17.63×
Interest coverage4.16×2.35×3.05×2.53×3.54×0.72×0.66×2.66×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity28.7%7.7%16.4%36.7%93.4%14.9%19.5%-154.1%
Return on invested capital8.9%3.5%7.1%8.8%12.6%1.6%1.8%12.3%
Return on assets5.1%1.1%3.0%5.4%5.5%-0.4%-0.4%4.8%
Free cash flow yield6.0%-7.5%2.5%11.7%5.6%9.6%10.8%-25.7%
Earnings yield10.4%3.7%5.1%18.0%13.1%-1.3%-1.3%22.9%
Enterprise value$4.5B$3.2B$4.4B$3.6B$4.5B$4B$4.1B$2.8B
Net debt / EBITDA2.14×3.43×2.89×3.89×2.81×6.51×6.71×3.59×
Cash conversion cycle (days)1838303539323535