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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
-41.9%
$46.16
vs $79.42 price
Levered DCF
$52.54
After debt service
Piotroski score
6 / 9
Average
Altman Z-score
44.94
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/E54.96×36.18×34.9×27.74×60.8×207.27×27.51×47.04×
P/B13.08×8.03×8.38×4.82×7.9×4.5×4.75×7.06×
P/S14.77×9.51×9.13×6.67×13.64×8.72×6.85×9.73×
EV / EBITDA40.18×25.7×24.46×17.78×45.45×393.08×22.57×36.73×
Gross margin76.7%76.9%76.5%77.4%76.6%74.3%77.1%76.3%
Operating margin31.2%30.0%30.6%29.3%23.5%-2.4%22.5%19.7%
Net margin26.8%26.3%26.2%24.1%22.3%4.3%25.0%20.7%
Current ratio7.98×8.84×4.65×9.06×11.18×12.96×10.06×9.5×
Debt / equity0×0×0.03×0.03×0.03×0.04×0.05×0×
Interest coverage0×0×0×0×0×0×0×0×
Dividend yield1.2%2.0%2.2%3.5%0.0%0.0%0.0%0.0%
Payout ratio66.9%71.1%76.9%97.9%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity23.8%22.2%24.1%17.4%12.9%2.2%17.3%15.0%
Return on invested capital21.0%19.3%20.8%16.0%12.2%2.5%14.2%13.7%
Return on assets20.7%19.6%18.7%15.0%11.3%1.9%14.4%13.0%
Free cash flow yield1.4%2.5%0.9%2.3%1.8%1.9%3.7%2.4%
Earnings yield1.8%2.8%2.9%3.6%1.6%0.5%3.7%2.1%
Enterprise value$1.2B$644.8M$550.5M$299.6M$511M$229.1M$223.3M$268.2M
Net debt / EBITDA-1.73×-2.08×-2.12×-3.31×-5.29×-81.26×-4.1×-3.84×
Cash conversion cycle (days)243236328199176200179217