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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
+2260.2%
$784.66
vs $33.25 price
Levered DCF
$511.32
After debt service
Piotroski score
5 / 9
Average
Altman Z-score
0.54
Distress zone
Rating
B-
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E23.42×34.67×40.94×6.39×81.89×145.14×-199.5×37.5×
P/B2.06×1.49×1.53×1.67×2.3×2.01×1.18×0.98×
P/S2.77×2.24×2.44×3.13×3.28×3.06×2.11×1.7×
EV / EBITDA12.16×9.68×10.99×4.75×13.62×12.19×11.36×8.94×
Gross margin15.2%63.5%64.0%63.4%64.9%69.5%67.3%68.5%
Operating margin12.3%14.3%20.0%123.5%20.8%27.8%21.7%33.0%
Net margin11.8%6.4%6.0%48.9%4.0%2.1%-1.1%4.6%
Current ratio1.13×1.49×1.72×2.07×0.94×1.12×0.3×1.07×
Debt / equity5.3×3.76×4.13×3.3×4.51×4.01×3.79×3.28×
Interest coverage0.45×0.64×0.78×6.34×0.86×0.8×0.55×1.13×
Dividend yield9.0%10.9%9.7%9.5%6.4%5.7%7.1%7.2%
Payout ratio211.8%379.5%393.7%60.7%525.5%844.0%-1409.1%270.8%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity8.8%4.3%3.8%26.1%2.8%1.4%-0.6%2.6%
Return on invested capital1.1%1.4%1.6%10.1%2.2%3.2%2.1%1.9%
Return on assets1.0%0.6%0.5%4.7%0.4%0.2%-0.1%0.6%
Free cash flow yield9.3%15.7%12.7%18.1%13.0%11.5%11.5%23.1%
Earnings yield4.3%2.9%2.5%15.6%1.2%0.7%-0.5%2.7%
Enterprise value$13.3B$10.5B$11.3B$10.4B$12.3B$10.7B$8.8B$7.4B
Net debt / EBITDA8.55×6.85×7.88×3.05×8.95×8.02×8.55×6.77×
Cash conversion cycle (days)2681422-76-3510