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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
-46.0%
$39.39
vs $72.91 price
Levered DCF
$37.29
After debt service
Piotroski score
6 / 9
Average
Altman Z-score
8.51
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/E98.08×-17.78×23.39×43.63×33.04×74.6×42.62×15.01×
P/B1.43×1.59×2.12×2.01×3.35×4.59×3.2×2.75×
P/S3.04×3.3×3.98×3.36×6.29×9.91×5.85×4.15×
EV / EBITDA23.79×34.54×15.34×12.88×19.02×33.95×18.23×9.31×
Gross margin38.0%34.6%42.1%38.9%47.7%44.9%46.1%54.8%
Operating margin1.3%-21.3%18.0%11.9%25.2%16.5%17.8%35.9%
Net margin3.1%-18.6%17.0%7.7%19.1%13.3%13.7%27.7%
Current ratio6.08×6.98×8.91×7.23×7.49×10.01×9.88×7.35×
Debt / equity0.01×0.01×0.01×0.02×0.02×0.02×0.02×0.02×
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 equity1.5%-9.0%9.1%4.6%10.1%6.2%7.5%18.3%
Return on invested capital0.4%-10.0%7.4%4.1%9.7%5.7%6.7%17.0%
Return on assets1.3%-7.9%8.1%4.0%8.8%5.4%6.6%15.7%
Free cash flow yield-0.1%4.6%3.6%2.1%2.9%1.7%2.5%3.8%
Earnings yield1.0%-5.6%4.3%2.3%3.0%1.3%2.3%6.7%
Enterprise value$2.7B$2.6B$4.6B$4.1B$8.5B$11.1B$7.1B$5.6B
Net debt / EBITDA-3.45×-7.93×-1.65×-2.05×-1.45×-2.55×-1.64×-0.84×
Cash conversion cycle (days)227206270247259267248267