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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
-40.0%
$75.75
vs $126.17 price
Levered DCF
$140.52
After debt service
Piotroski score
4 / 9
Average
Altman Z-score
3.07
Safe zone
Rating
C-
Overall 1 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-127.65×-24.84×-26.5×-24.14×-34.01×-150.13×-31.52×-34.4×
P/B37.18×30.94×15.55×11.69×12.35×19.27×12.7×30.49×
P/S7.6×4.75×6.63×6.82×10.69×24.83×8.02×11.27×
EV / EBITDA-1,557.12×-42.23×-34.7×-30.98×-41.36×-227×-37×-37.25×
Gross margin70.6%68.9%67.3%68.5%66.2%73.5%75.5%73.7%
Operating margin-4.9%-19.5%-25.4%-27.7%-31.0%-16.5%-25.5%-31.0%
Net margin-6.0%-19.1%-25.0%-28.3%-31.4%-16.5%-25.4%-34.2%
Current ratio4.63×5.82×2.15×3.24×3.48×5.75×3.32×3.52×
Debt / equity4.79×8.11×0.62×0.55×0.42×0.36×0.95×0.64×
Interest coverage-2.8×-9.01×-34.29×-27.5×-85.49×-28.75×-33.33×-14.67×
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 equity-29.2%-124.6%-58.7%-48.4%-36.3%-12.8%-40.3%-92.6%
Return on invested capital-4.2%-13.8%-36.7%-30.6%-25.1%-9.4%-20.7%-51.1%
Return on assets-4.4%-12.2%-28.5%-25.9%-21.9%-8.6%-17.8%-42.1%
Free cash flow yield0.6%-1.6%-2.8%-1.9%-1.9%-0.4%-2.5%-2.1%
Earnings yield-0.8%-4.0%-3.8%-4.1%-2.9%-0.7%-3.2%-3.0%
Enterprise value$6.2B$3.1B$3.4B$2.9B$3.4B$6.6B$1.8B$1.7B
Net debt / EBITDA-124.89×-4.28×-0.97×-0.57×0.12×-1.16×-2.19×-0.33×
Cash conversion cycle (days)6963656652461147