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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
+57.8%
$29.97
vs $18.99 price
Levered DCF
-$4.07
After debt service
Piotroski score
2 / 9
Weak
Altman Z-score
11,584.51
Safe zone
Rating
B-
Overall 3 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E17.91×15.79×7.98×12.78×13.9×11.23×13.33×5.42×
P/B0.57×0.6×0.47×0.45×0.46×0.45×0.55×0.46×
P/S13.13×11.66×5.54×7.58×10.06×8.8×8.38×9.11×
EV / EBITDA14.13×12.47×6.47×10.06×14.76×12.49×11.05×14.48×
Gross margin100.0%100.0%100.0%100.0%100.0%100.0%100.0%100.0%
Operating margin-7.0%-6.5%-14.5%-24.6%-31.9%-29.6%-24.2%-37.1%
Net margin73.4%73.8%69.5%59.5%72.6%78.4%63.1%168.2%
Current ratio0×0×0×25,204×8,074.42×7,611.83×7,161.14×3,697.04×
Debt / equity0×0×0×0×0×0×0×0×
Interest coverage0×0×0×0×0×0×0×0×
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 equity3.2%3.8%5.9%3.5%3.3%4.0%4.1%8.5%
Return on invested capital-0.2%-0.3%-1.0%-1.1%-1.2%-1.2%-1.3%-1.3%
Return on assets3.2%3.8%5.9%3.5%3.3%4.0%4.1%8.5%
Free cash flow yield-0.1%1.0%1.7%0.0%-6.0%9.1%7.5%54.4%
Earnings yield5.6%6.3%12.6%7.9%7.2%8.9%7.5%18.5%
Enterprise value$71.4M$73.4M$55.7M$50.1M$49.8M$47.3M$55.1M$44.5M
Net debt / EBITDA-0×-0×-0.01×-0×-0×-0×-0×-0×
Cash conversion cycle (days)166,419115,5737,1406,2045,5667,189