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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
-45.6%
$14.67
vs $26.96 price
Levered DCF
$41.01
After debt service
Piotroski score
7 / 9
Strong
Altman Z-score
14.18
Safe zone
Rating
A
Overall 4 / 5
Ratios by fiscal year

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

MetricFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
P/E30.88×24.43×23.58×28.95×35.7×40.32×30.78×22.03×
P/B6.48×4.24×2.72×2.41×2.39×2.98×4.28×1.71×
P/S4.74×2.86×2.21×1.89×1.96×2.7×3.98×1.4×
EV / EBITDA22.02×14.68×13.35×17.76×20.29×22.48×20.3×9.63×
Gross margin78.5%78.1%76.3%76.0%75.5%76.4%77.6%76.2%
Operating margin18.8%15.4%12.0%8.3%7.1%8.8%15.8%9.0%
Net margin15.3%11.8%9.4%6.6%5.5%6.6%12.8%6.3%
Current ratio4.69×4.31×5.75×4.69×4.83×6.83×9.38×6.78×
Debt / equity0×0×0×0×0×0×0×0×
Interest coverage0×0×0×0×0×0×0×0×
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
MetricFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Return on equity20.9%17.4%11.6%8.4%6.7%7.3%13.8%7.7%
Return on invested capital20.2%16.7%10.8%8.2%6.7%7.2%13.4%7.5%
Return on assets17.1%14.0%9.9%6.9%5.6%6.4%12.5%6.7%
Free cash flow yield2.4%6.0%7.2%-0.4%-2.7%2.7%2.5%2.7%
Earnings yield3.2%4.1%4.3%3.5%2.8%2.4%3.2%4.5%
Enterprise value$329.3M$168.2M$105.2M$83.4M$73.6M$84.9M$118.9M$36.1M
Net debt / EBITDA-1.36×-1.32×-2.03×-1.53×-2.24×-3.12×-1.77×-2.07×
Cash conversion cycle (days)183163236277255240283260