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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
+314.1%
$120.39
vs $29.07 price
Levered DCF
-$89.64
After debt service
Piotroski score
6 / 9
Average
Altman Z-score
0.52
Distress zone
Rating
C
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-9.67×-25.91×12.81×-9.9×-19.36×-5.49×57.35×29.44×
P/B1.39×1.73×2.21×2.4×4.41×1.92×4.15×2.71×
P/S0.42×0.64×0.87×0.82×2.06×2.66×1.83×1.36×
EV / EBITDA9.21×8.77×9.6×11.41×20.72×194.48×12.9×14.61×
Gross margin50.0%51.8%53.2%50.1%51.4%49.1%49.0%45.0%
Operating margin18.1%20.5%21.4%16.1%15.3%-10.6%16.2%15.1%
Net margin-4.4%-2.5%6.8%-8.3%-10.6%-48.4%3.2%4.6%
Current ratio0.8×0.77×0.76×0.79×1.13×2.41×0.88×1.43×
Debt / equity7.52×6.03×5.51×6.85×5.86×5.37×3.35×4.1×
Interest coverage0.89×0.97×1.05×0.76×0.63×-0.32×1.43×1.81×
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 equity-14.3%-6.7%17.3%-24.2%-22.7%-35.0%7.2%9.2%
Return on invested capital6.9%7.6%-110.9%5.2%3.5%-1.1%5.1%4.0%
Return on assets-1.6%-0.9%2.4%-2.7%-2.7%-4.8%1.4%1.6%
Free cash flow yield10.7%-2.5%5.4%0.3%3.3%-7.7%3.1%6.3%
Earnings yield-10.3%-3.9%7.8%-10.1%-5.2%-18.2%1.7%3.4%
Enterprise value$30.3B$31.4B$34.1B$33.3B$44.9B$34.8B$8.2B$6.8B
Net debt / EBITDA7.73×6.76×6.77×8.36×11.62×140.54×5.58×8.6×
Cash conversion cycle (days)-1-2-53115-51