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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
+122.2%
$13.09
vs $5.89 price
Levered DCF
$24.28
After debt service
Piotroski score
7 / 9
Strong
Altman Z-score
-0.04
Distress zone
Rating
A
Overall 4 / 5
Ratios by fiscal year

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

MetricFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
P/E19.09×5.43×24×113.48×-125.97×52.18×46.29×54.27×
P/B2.03×2.18×3.16×3.88×5.4×7.73×9.82×9.57×
P/S1.88×1.99×1.99×2.44×3.35×4.55×4.68×3.46×
EV / EBITDA12.04×16.56×10.6×33.83×751.71×33.21×31.17×31.76×
Gross margin73.4%70.1%70.3%72.1%73.3%75.4%71.0%67.5%
Operating margin8.7%5.0%6.4%1.4%-2.3%9.4%10.2%8.2%
Net margin9.7%36.5%8.4%2.2%-2.7%8.9%9.9%6.2%
Current ratio1.73×1.6×1.69×1.72×1.66×1.49×1.41×1.33×
Debt / equity0.03×0.05×0.06×0.04×0.06×0.05×0.09×0×
Interest coverage0×0×0×0×0×0×0×17.31×
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
MetricFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Return on equity10.5%40.0%13.3%3.4%-4.3%15.1%20.8%17.1%
Return on invested capital7.3%5.1%7.1%1.3%-3.2%14.0%15.4%14.8%
Return on assets6.0%21.7%6.1%1.6%-1.9%6.1%7.7%5.7%
Free cash flow yield12.0%2.7%6.6%1.8%2.4%3.8%4.0%2.8%
Earnings yield5.2%18.3%4.2%0.9%-0.8%2.0%2.1%1.8%
Enterprise value$100.5M$116.8M$118.8M$168.8M$239M$295M$296.7M$200.8M
Net debt / EBITDA-8.45×-8.4×-5.91×-14.16×-215.72×-6.86×-4.57×-5.04×
Cash conversion cycle (days)6099899082657241