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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
+320.1%
$82.92
vs $19.74 price
Levered DCF
-$2.29
After debt service
Piotroski score
4 / 9
Average
Altman Z-score
0.44
Distress zone
Rating
C
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
P/E-27.42×0×30.95×-2,759.09×-1,539.93×-1,010.59×-632.42×-707.17×
P/B0.19×0×20.18×-36,923.16×4,861.05×2,571.34×1,065.2×429.34×
P/S1.88×0×226.64×212.36×11,410.29×9,235.76×7,592.9×6,456.03×
EV / EBITDA68.03×58.21×153.35×-3,008.61×390.18×-1,051.03×-649.49×-692.22×
Gross margin75.3%32.9%91.3%41.3%-666.0%-639.3%-548.8%-475.1%
Operating margin56.7%-4.4%70.9%22.6%-1002.6%-1104.3%-6150.2%-972.4%
Net margin-6.9%-4.4%38.0%-7.7%-741.5%-915.0%-1200.9%-954.7%
Current ratio0.34×0.34×0.18×0.85×1.57×2.05×3.85×6.67×
Debt / equity1.3×1.3×1.77×-4,568.95×0.77×0.01×0.03×0.04×
Interest coverage0.5×-0.06×0.62×72.64×-160.35×-11,039.26×-2,634.84×-149.54×
Dividend yield44.2%0.0%0.4%0.4%8.9%0.5%0.4%1.3%
Payout ratio-1208.9%-1180.9%224.5%-1200.7%-13739.7%-491.4%-275.1%-911.4%
Key metrics by fiscal year
MetricFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Return on equity-0.7%-0.7%3.4%1342.3%-315.9%-254.7%-168.5%-63.5%
Return on invested capital2.5%-0.3%5.0%1217.7%-177.4%-303.9%-835.3%-62.4%
Return on assets-0.3%-0.3%1.2%-149.0%-120.8%-136.4%-127.1%-53.5%
Free cash flow yield24.9%0.0%0.4%-0.0%-0.1%-0.1%-0.1%-0.1%
Earnings yield-3.7%0.0%0.2%-0.0%-0.1%-0.1%-0.2%-0.1%
Enterprise value$391.5M$327.1M$8.1B$7B$4.6B$4B$2.8B$1.7B
Net debt / EBITDA56.83×58.21×10.53×-330.98×-0.1×0.6×0.61×1.63×
Cash conversion cycle (days)-151-28-408686127169338