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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
-16.8%
$19.63
vs $23.60 price
Levered DCF
$20.54
After debt service
Piotroski score
6 / 9
Average
Altman Z-score
-0.58
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/E12.21×12.16×9.37×7.12×6.95×9.55×14.38×27.95×
P/B0.92×0.93×0.71×0.76×0.86×0.76×0.9×0.86×
P/S1.92×1.67×1.3×1.58×1.84×1.47×1.85×43.61×
EV / EBITDA11.09×8.75×10.25×11.07×8.13×7.54×15.19×21.51×
Gross margin54.7%59.8%62.5%81.9%87.0%73.4%72.1%100.0%
Operating margin7.0%17.6%20.0%29.4%36.2%20.9%16.8%266.5%
Net margin16.0%13.8%13.8%22.1%26.6%15.4%12.9%184.4%
Current ratio0.13×0.09×0.07×0.03×0.04×0.09×0.19×0.18×
Debt / equity0.28×0.37×0.85×1.29×0.99×1.13×1.16×0.97×
Interest coverage0.16×0.4×0.53×1.81×2.79×1.21×0.73×0.85×
Dividend yield2.1%2.0%2.5%2.2%1.7%2.0%1.6%1.8%
Payout ratio25.0%24.3%23.3%15.4%11.8%18.6%23.2%43.4%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity7.7%7.7%7.5%10.6%12.4%7.9%6.3%3.7%
Return on invested capital2.0%5.3%3.9%4.5%6.0%3.6%2.8%1.8%
Return on assets0.8%0.8%0.7%1.0%1.2%0.8%0.6%0.4%
Free cash flow yield6.0%11.6%9.6%20.3%12.1%17.5%4.5%0.0%
Earnings yield8.3%8.3%10.7%14.1%14.4%10.5%7.0%4.2%
Enterprise value$105.9M$182.6M$232.4M$305.7M$268.3M$180.2M$249.8M$200.5M
Net debt / EBITDA-7.02×0.79×4.85×6.5×3.66×2.45×6.93×8.71×
Cash conversion cycle (days)25212124182524575