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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
-95.1%
$10.85
vs $222.50 price
Levered DCF
$51.33
After debt service
Piotroski score
5 / 9
Average
Altman Z-score
16.53
Safe zone
Rating
C+
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E438.68×259.8×809.2×-459.38×-2,654.4×-1,204.9×-314.83×-250.33×
P/B12.65×17.7×19.42×16.44×52.87×30.88×6.75×-35.04×
P/S13.78×17.9×18.48×13.84×53.5×48.99×14.57×13.45×
EV / EBITDA249.51×182.86×359.48×1,808.55×2,173.86×1,267.23×-1,328.35×-619.5×
Gross margin80.0%80.8%80.7%79.3%77.2%78.4%75.5%76.5%
Operating margin-1.3%2.0%-1.6%-3.5%-1.9%-2.3%-5.6%-5.6%
Net margin3.1%6.8%2.3%-3.0%-2.0%-4.1%-4.6%-5.4%
Current ratio3.38×2.64×3.17×3.09×3.54×5.77×4.51×1.09×
Debt / equity0.41×0.68×0.45×0.59×0.78×0.67×0.08×0×
Interest coverage-4.01×7.68×-5.31×-3.55×-0.91×-0.45×0×0×
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 equity2.9%6.8%2.4%-3.6%-2.0%-2.6%-2.1%14.2%
Return on invested capital-0.7%1.1%-0.9%-2.6%-1.0%-0.9%-2.4%-16.3%
Return on assets1.6%3.2%1.2%-1.7%-0.9%-1.3%-1.6%-6.0%
Free cash flow yield2.1%1.7%1.6%1.5%0.5%0.3%0.0%-0.2%
Earnings yield0.2%0.4%0.1%-0.2%-0.0%-0.1%-0.3%-0.4%
Enterprise value$48.4B$48.6B$39.9B$23.7B$55.6B$30B$4.7B$2.6B
Net debt / EBITDA5.85×2.24×5.15×38.07×20.99×17.69×150.22×12.73×
Cash conversion cycle (days)-059625644425