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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
+367.0%
$102.06
vs $21.85 price
Levered DCF
$80.37
After debt service
Piotroski score
5 / 9
Average
Altman Z-score
0.92
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-3,446×-35.43×-20.38×-3.62×-7.25×-11.55×-13.9×-23.9×
P/B20.25×17.74×19.41×3.76×6.59×5.41×-39.84×-9.77×
P/S2.11×3.76×4.45×2.22×8.53×23.15×6.11×8×
EV / EBITDA43.22×-57.85×-27.92×-3.92×-7.33×-16.31×-14.85×-24.46×
Gross margin41.3%38.1%37.5%33.8%38.7%43.6%67.9%78.5%
Operating margin-0.3%-12.8%-21.5%-67.5%-120.5%-137.2%-45.3%-33.9%
Net margin0.1%-10.6%-21.9%-61.5%-117.5%-200.5%-44.1%-33.7%
Current ratio1.03×0.93×1.34×1.67×2.96×3.96×1.02×1.34×
Debt / equity3.06×1.32×1.6×1×0.79×0.03×-1.51×-0.02×
Interest coverage-0.79×-205.81×-294.6×-570.26×-740.45×-788.09×0×0×
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 equity0.6%-50.2%-95.5%-104.2%-90.7%-46.8%287.9%41.1%
Return on invested capital-0.3%-19.7%-32.8%-51.5%-49.5%-29.1%-177.9%-71.6%
Return on assets0.1%-11.8%-20.3%-34.1%-37.4%-35.8%-43.2%-25.5%
Free cash flow yield5.1%2.3%-0.7%-14.7%-4.7%-2.7%-4.5%-4.0%
Earnings yield0.0%-2.8%-4.9%-27.7%-13.8%-8.7%-7.2%-4.2%
Enterprise value$13.1B$18.5B$16.4B$5B$10.2B$12.5B$2B$1.7B
Net debt / EBITDA1.09×-1.71×-0.13×-0.01×0.6×2.27×0.01×1.65×
Cash conversion cycle (days)-7432932315-25-53