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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
-9.8%
$15.16
vs $16.81 price
Levered DCF
$16.07
After debt service
Piotroski score
8 / 9
Strong
Altman Z-score
-0.64
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/E11.4×15.14×64.55×10.67×12.2×12.78×15.2×19.04×
P/B0.99×0.96×1.16×1.31×1.28×1.05×1.35×1.3×
P/S2.07×2.03×2.74×3.18×3.76×2.89×3.53×3.9×
EV / EBITDA5.24×9.34×63.19×15.14×2.86×6.75×12.9×13.64×
Gross margin53.9%48.3%43.0%78.4%86.0%71.7%70.2%73.5%
Operating margin23.1%20.0%4.6%37.1%39.5%28.5%29.3%24.8%
Net margin18.1%13.5%4.2%29.9%30.7%22.5%23.2%20.5%
Current ratio0.07×0.14×0.13×0.18×0.31×0.18×0.14×0.15×
Debt / equity0.1×0.32×0.52×1.46×0.27×0.43×0.35×0.15×
Interest coverage0.52×0.39×0.08×2.01×2.69×1.36×1.07×1.08×
Dividend yield0.9%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio9.8%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity8.7%6.4%1.8%12.3%10.5%8.2%8.8%6.9%
Return on invested capital7.5%4.6%1.2%5.0%8.3%5.7%6.5%5.9%
Return on assets1.0%0.7%0.2%1.1%1.0%0.9%1.0%0.8%
Free cash flow yield9.4%8.0%6.4%8.4%7.1%7.3%7.9%6.1%
Earnings yield8.8%6.6%1.5%9.4%8.2%7.8%6.6%5.3%
Enterprise value$149.7M$212.4M$305M$479.4M$83.2M$139.2M$271.5M$187.2M
Net debt / EBITDA-3.58×-0.64×11.05×6.74×-6.38×-2.9×1.43×-1.39×
Cash conversion cycle (days)17182416336117