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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
+29.0%
$9.26
vs $7.18 price
Levered DCF
$5.69
After debt service
Piotroski score
6 / 9
Average
Altman Z-score
11.17
Safe zone
Rating
A-
Overall 4 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E31.37×36.75×49.58×47.65×85.96×29.02×48.95×16.41×
P/B3.52×4×4.84×6.22×6.85×4.43×3.94×3.19×
P/S5.39×5.8×8.29×9.17×11.79×8.25×7.36×4.86×
EV / EBITDA21.91×29.36×35.45×34.3×58.51×17.55×35.37×23.08×
Gross margin65.2%66.9%67.8%69.6%68.6%69.3%72.1%76.0%
Operating margin18.2%13.6%14.8%19.8%13.3%34.0%14.2%13.4%
Net margin17.0%15.9%16.8%19.1%13.7%28.7%15.0%29.6%
Current ratio10.44×7.41×8.64×8.63×7.67×9.1×4.06×4.41×
Debt / equity0.05×0.05×0.06×0.08×0.09×0.1×0.09×0.12×
Interest coverage0×0×0×0×0×0×0×9,978×
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 equity11.1%11.0%9.8%13.0%8.0%15.4%8.0%19.5%
Return on invested capital9.4%8.0%7.7%11.4%7.1%13.5%5.7%6.5%
Return on assets9.9%9.5%8.5%11.1%6.7%12.9%5.8%12.3%
Free cash flow yield2.4%2.3%2.2%0.8%0.6%1.3%-0.4%0.6%
Earnings yield3.2%2.7%2.0%2.1%1.2%3.5%2.0%6.1%
Enterprise value$687.1M$822.7M$1B$1.1B$1.2B$683.3M$522.1M$353.4M
Net debt / EBITDA-1.23×-0.65×-1.93×-1.28×-2.9×-1.97×-0.94×-0.55×
Cash conversion cycle (days)380336342368292189231186