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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
-15.4%
$40.00
vs $47.28 price
Levered DCF
$22.45
After debt service
Piotroski score
7 / 9
Strong
Altman Z-score
-0.44
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/E11.45×10.49×8.96×7.41×11.01×28.76×11.94×16.47×
P/B1.21×1.03×0.9×0.7×1×1.13×0.66×1.08×
P/S2.49×1.93×1.69×1.52×2.5×2.81×1.61×2.77×
EV / EBITDA4.14×3.14×2.54×2.86×1.13×9.03×7.75×22.78×
Gross margin70.5%65.9%69.9%79.1%96.9%94.8%75.6%77.4%
Operating margin27.7%23.7%23.8%26.5%29.2%11.9%17.3%21.2%
Net margin22.0%18.6%18.8%20.6%23.0%9.8%13.7%17.0%
Current ratio0.13×0.17×0.18×0.17×0.15×0.2×0.27×0.26×
Debt / equity0.02×0.02×0.27×0.45×0×0.29×1.16×1.67×
Interest coverage1.02×0.75×0.97×1.92×8.5×1.24×0.9×1.12×
Dividend yield1.1%1.3%1.5%1.9%1.4%1.1%1.7%0.7%
Payout ratio13.0%14.0%13.8%14.0%15.3%32.0%20.0%11.7%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity10.7%9.9%10.0%9.5%9.2%4.0%5.6%6.6%
Return on invested capital7.7%6.7%4.9%4.4%7.9%2.8%2.4%2.4%
Return on assets1.4%1.2%1.1%1.0%1.0%0.4%0.6%0.8%
Free cash flow yield5.9%5.0%0.0%-17.4%6.1%-4.1%-21.1%-2.5%
Earnings yield8.8%9.6%11.1%13.6%9.2%3.5%8.5%6.1%
Enterprise value$396.1M$272.6M$201.2M$201.5M$64.8M$282.9M$260.4M$760.4M
Net debt / EBITDA-3.48×-3.42×-3.13×-1.79×-5.65×-5.29×-0.22×9.51×
Cash conversion cycle (days)2022823026520339307280