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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
+132.1%
$153.81
vs $66.26 price
Levered DCF
$171.19
After debt service
Piotroski score
7 / 9
Strong
Altman Z-score
13.13
Safe zone
Rating
A+
Overall 5 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E18.63×102.99×-282.54×-157.42×-149.39×-85.89×-53.01×-28.17×
P/B3.47×8×10.41×14.26×27.38×21.35×12.63×3.76×
P/S2.97×6.87×9.54×17.34×26.87×42.5×21.53×12.18×
EV / EBITDA33.04×83.03×-339.99×-163.15×-157.72×-87.64×-59.59×-29.98×
Gross margin85.4%84.7%84.5%83.8%85.7%84.7%83.4%80.1%
Operating margin5.6%4.5%-6.4%-11.7%-17.1%-48.7%-42.5%-40.3%
Net margin15.9%6.7%-3.4%-11.0%-18.0%-49.6%-40.5%-43.1%
Current ratio6.08×7.13×7.6×8.66×6.5×13.02×10.12×17.86×
Debt / equity0.04×0.05×0.04×0.03×0.15×0.13×0.18×0.15×
Interest coverage371.93×1,640.14×0×-28.38×-18.73×-26.55×-16.47×-6.17×
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
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity18.6%7.8%-3.7%-9.0%-18.4%-24.9%-23.8%-13.3%
Return on invested capital6.3%4.6%-6.7%-9.4%-15.1%-21.6%-21.1%-10.8%
Return on assets16.0%6.6%-3.1%-7.9%-14.2%-20.3%-18.3%-10.9%
Free cash flow yield2.9%1.7%0.0%0.0%-0.4%-1.1%-2.0%-3.1%
Earnings yield5.4%1.0%-0.4%-0.6%-0.7%-1.2%-1.9%-3.5%
Enterprise value$2.6B$5.4B$5.8B$6.6B$6.1B$4.7B$1.8B$543.6M
Net debt / EBITDA-0.91×-1.82×9.42×10.44×4.67×2.95×-0.08×3.99×
Cash conversion cycle (days)34616534-281141069520