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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
-118.1%
-$30.08
vs $165.88 price
Levered DCF
$52.27
After debt service
Piotroski score
7 / 9
Strong
Altman Z-score
6.38
Safe zone
Rating
B-
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
P/E92.08×272.55×-2,022.51×-62.37×-35.86×-144×-356.55×408.32×
P/B10.55×13.02×9.2×5.81×4.46×6.23×5.88×5.36×
P/S8.53×15.77×12.6×7.7×7.97×12.95×13.13×11.73×
EV / EBITDA62.91×219.82×5,542.93×-68.43×-35.88×-199.81×271.47×121.93×
Gross margin64.2%62.5%59.5%50.6%46.4%52.4%54.5%54.9%
Operating margin10.2%3.4%-5.4%-16.5%-24.5%-14.2%-3.2%0.2%
Net margin9.4%5.8%-0.6%-12.4%-22.2%-8.9%-3.7%2.9%
Current ratio1.79×2.77×1.55×2.95×3.71×4.51×5.96×5.75×
Debt / equity0.59×0.49×0.33×0.37×0.33×0.3×0.28×0.2×
Interest coverage11.28×3.11×-7.8×-22.26×-10.26×-5.64×-1.33×0.08×
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 equity11.7%4.8%-0.5%-9.3%-12.4%-4.3%-1.6%1.3%
Return on invested capital6.7%1.9%-0.7%-7.5%-8.1%-3.3%-1.1%0.1%
Return on assets5.4%2.6%-0.3%-5.5%-8.0%-2.9%-1.2%1.0%
Free cash flow yield3.0%1.6%1.4%0.3%-0.9%0.9%0.9%0.8%
Earnings yield1.1%0.4%-0.0%-1.6%-2.8%-0.7%-0.3%0.2%
Enterprise value$12.9B$19B$12.2B$7B$6.3B$9.7B$9.8B$8.5B
Net debt / EBITDA1.61×0.19×-47.57×-0.46×0.74×-1.77×2.58×0.91×
Cash conversion cycle (days)5667767568666155