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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
-16.5%
$38.34
vs $45.94 price
Levered DCF
$52.84
After debt service
Piotroski score
7 / 9
Strong
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/E25.03×8.43×11.28×8.62×10.83×9.02×10.93×11.92×
P/B1.13×1.09×0.98×1.23×1.08×0.96×1.11×1.22×
P/S2.04×1.22×1.1×1.88×2.26×2.16×2.57×2.9×
EV / EBITDA25.16×5.19×16.17×15.87×4.02×1.76×5.98×8.08×
Gross margin61.6%59.7%64.0%89.1%94.0%89.8%88.3%91.1%
Operating margin9.5%17.8%11.1%26.5%24.3%28.5%27.9%27.9%
Net margin7.9%14.5%9.8%21.8%20.9%24.0%23.5%24.3%
Current ratio0.09×0.11×0.16×0.17×0.22×0.24×0.26×0.23×
Debt / equity0.37×1.26×1.79×2.33×0×0.04×0.04×0.02×
Interest coverage0.27×0.47×0.32×3.23×7.62×4.06×2.73×4.1×
Dividend yield2.9%3.3%4.0%3.0%2.7%3.2%2.8%2.6%
Payout ratio74.4%28.0%45.2%26.2%29.6%28.6%30.7%30.8%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity4.3%12.9%8.6%14.3%10.0%10.6%10.1%10.3%
Return on invested capital2.9%5.3%2.9%4.1%8.8%9.5%9.1%9.3%
Return on assets0.4%0.8%0.5%0.9%0.8%1.0%1.1%1.1%
Free cash flow yield12.4%13.7%5.5%10.4%13.4%10.5%9.4%-1.8%
Earnings yield3.8%11.9%8.9%11.6%9.2%11.1%9.1%8.4%
Enterprise value$269.3M$103.2M$188.1M$296M$55.4M$25.2M$77M$90.8M
Net debt / EBITDA5.2×-1.32×7.08×9.16×-4.63×-5.27×-2.31×-1.47×
Cash conversion cycle (days)00000000