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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
+222.9%
$34.33
vs $10.63 price
Levered DCF
$26.39
After debt service
Piotroski score
2 / 9
Weak
Altman Z-score
1.69
Distress zone
Rating
C+
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019
P/E-26.58×-7.08×-2.15×-3.31×-12.84×-25.83×-117.67×
P/B4.41×2.3×1.62×1.32×2.73×-19.13×-76.72×
P/S8.31×6.78×0×0×0×0×0×
EV / EBITDA-29.87×-5.34×-1.62×-3.48×-8.41×-34.87×-120.87×
Gross margin93.2%89.3%0.0%0.0%0.0%0.0%0.0%
Operating margin-43.8%-107.3%0.0%0.0%0.0%0.0%0.0%
Net margin-31.2%-96.1%0.0%0.0%0.0%0.0%0.0%
Current ratio6.12×2.4×5.07×10.79×20.96×1.49×2.27×
Debt / equity0.17×0.19×0.26×0.17×0×-1.39×-0.06×
Interest coverage0×0×0×-29.86×0×0×-7,994×
Dividend yield0.0%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%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019
Return on equity-16.6%-32.6%-75.5%-40.0%-21.3%73.6%66.0%
Return on invested capital-13.6%-28.4%-55.1%-35.1%-20.8%-139.3%-105.9%
Return on assets-8.6%-16.6%-44.6%-31.7%-20.2%-72.7%-72.3%
Free cash flow yield-2.7%7.4%-21.6%-29.3%-7.3%-2.8%-0.8%
Earnings yield-3.8%-14.2%-46.6%-30.2%-7.8%-3.8%-0.9%
Enterprise value$937M$331.4M$208.3M$351.5M$604.2M$958M$926.7M
Net debt / EBITDA2.89×2.93×0.64×0.08×4.82×-0.95×0.68×
Cash conversion cycle (days)-141-773-65400-4,803-16,197