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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
+1282.8%
$59.60
vs $4.31 price
Levered DCF
$144.62
After debt service
Piotroski score
5 / 9
Average
Altman Z-score
0.02
Distress zone
Rating
B-
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E26.08×131.38×68.48×188.19×139.57×-482.3×-62.54×-170×
P/B2.14×2.25×3.46×5.24×12.96×16.67×-22.82×-40.96×
P/S2.58×3.13×5.92×10.83×34.65×17.6×16.63×33.81×
EV / EBITDA14.91×32.33×15.99×38.76×125.52×100.66×91.37×125.07×
Gross margin84.0%84.4%85.6%82.8%81.7%77.4%76.6%73.8%
Operating margin18.1%8.0%20.9%16.0%15.2%7.8%17.6%18.4%
Net margin9.9%2.4%8.7%5.8%15.6%-1.9%-26.6%-19.8%
Current ratio0.72×0.69×1.35×1.45×1.08×1.37×0.61×0.69×
Debt / equity1.2×0.82×0.63×0.58×0.65×1.56×-5.84×-5.32×
Interest coverage5.3×2.48×5.74×3.69×2.58×0.54×0.5×0.46×
Dividend yield0.0%0.0%0.0%0.0%0.1%0.1%0.3%1.9%
Payout ratio0.0%0.0%0.0%0.0%17.0%-108.8%-21.2%-326.6%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity8.2%1.7%5.1%2.8%5.8%-1.8%36.5%24.0%
Return on invested capital2.5%1.6%1.1%0.9%1.7%1.8%3.6%4.6%
Return on assets1.9%0.4%1.6%0.9%1.7%-0.4%-5.0%-4.8%
Free cash flow yield12.1%7.9%5.6%3.3%1.1%1.8%0.6%0.8%
Earnings yield3.9%0.8%1.5%0.5%0.5%-0.1%-1.6%-0.6%
Enterprise value$4.9B$5.1B$8.2B$12.8B$26.9B$8.9B$6.1B$5.5B
Net debt / EBITDA5.01×7.99×1.72×2.71×4.64×5.82×18.12×14.2×
Cash conversion cycle (days)104411751677161