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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
-62.4%
$34.61
vs $92.14 price
Levered DCF
$10.89
After debt service
Piotroski score
5 / 9
Average
Altman Z-score
3.52
Safe zone
Rating
B-
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E17×37.03×166.77×-106.13×-446.28×-103.66×-111.84×-103.66×
P/B-153.44×-15.38×-10.54×53.97×14.89×-62.08×87.78×-65.12×
P/S4.88×4×4.77×4.46×20.1×14.06×17.56×18.23×
EV / EBITDA13.47×18.53×30.25×46.83×113.12×99.61×141.09×159.05×
Gross margin59.9%59.7%59.0%63.2%60.2%54.3%52.0%52.2%
Operating margin17.4%11.7%1.7%-4.5%-2.6%-5.0%-11.7%-13.4%
Net margin28.8%10.8%2.8%-4.8%-4.6%-13.7%-15.9%-17.7%
Current ratio0.69×2.45×2.61×5.72×30.39×1.75×0.84×0.8×
Debt / equity-25.46×-8.35×-5.28×34.38×2.53×-3.6×3.75×-2.39×
Interest coverage8.75×9.99×1.33×-3.06×-2.99×-1.16×-3.2×-4.32×
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-903.7%-41.6%-6.2%-58.4%-3.4%60.4%-79.2%63.3%
Return on invested capital9.3%5.3%0.6%-1.5%-0.5%-4.4%-12.2%-13.3%
Return on assets14.1%5.2%1.3%-1.5%-0.9%-10.1%-13.4%-14.7%
Free cash flow yield0.9%3.1%3.3%2.9%0.3%-1.3%-0.7%-0.6%
Earnings yield5.9%2.7%0.6%-1.1%-0.2%-1.0%-0.9%-1.0%
Enterprise value$4.9B$4.4B$4.6B$4.1B$8.4B$4.6B$4.6B$3.8B
Net debt / EBITDA1.31×5.35×8.71×17.23×-3.39×3.43×4.82×4.42×
Cash conversion cycle (days)-2-2128-271-52-22