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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
-6.7%
$21.57
vs $23.11 price
Levered DCF
$30.34
After debt service
Piotroski score
5 / 9
Average
Altman Z-score
1.24
Distress zone
Rating
B+
Overall 3 / 5
Ratios by fiscal year

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

MetricFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
P/E10.24×10.71×9.74×7.43×13.11×11.75×10.88×12.31×
P/B1.08×0.75×0.66×0.84×1.22×1.19×0.83×1.16×
P/S1.81×1.29×1.05×1.49×2.84×2.49×1.74×2.66×
EV / EBITDA3.66×4.89×5×4.08×3.67×0.73×1.52×6.83×
Gross margin67.7%63.9%61.2%79.2%90.2%79.9%70.5%76.6%
Operating margin22.3%14.4%12.2%23.7%26.7%26.9%20.1%27.5%
Net margin17.7%12.0%10.8%20.0%21.7%21.2%16.1%21.6%
Current ratio17,913.35×0.1×0.08×0.1×0.13×0.18×0.17×0.15×
Debt / equity0.06×0.07×0.13×0.17×0.06×0.06×0.07×0.04×
Interest coverage0.73×0.39×0.32×1.33×3.2×2.06×0.93×1.33×
Dividend yield2.6%3.9%4.5%3.6%2.1%1.8%2.7%1.8%
Payout ratio26.9%41.9%43.7%26.8%27.8%20.9%29.7%22.2%
Key metrics by fiscal year
MetricFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Return on equity10.5%7.0%6.8%11.3%9.3%10.2%7.6%9.4%
Return on invested capital1.1%6.2%5.5%10.2%9.1%9.5%7.1%9.0%
Return on assets1.0%0.6%0.6%0.9%0.8%0.9%0.7%1.1%
Free cash flow yield12.0%13.0%-1.1%25.8%22.7%9.5%-1.8%3.7%
Earnings yield9.8%9.3%10.3%13.4%7.6%8.5%9.2%8.1%
Enterprise value$32.6M$29.4M$26.7M$31.2M$24.8M$5.5M$8.3M$44.8M
Net debt / EBITDA-3.45×-2.03×-1.54×-1.47×-5.78×-7.69×-6.12×-2.06×
Cash conversion cycle (days)202119-217-412172819