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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
-11.0%
$22.08
vs $24.81 price
Levered DCF
$61.60
After debt service
Piotroski score
4 / 9
Average
Altman Z-score
0.51
Distress zone
Rating
B-
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-4.89×13.52×15.87×21.09×42.47×120.62×20.21×-5.1×
P/B0.69×0.75×0.92×1.03×0.88×0.85×0.76×1.02×
P/S1.15×1.44×1.7×1.88×1.66×1.63×1.57×2×
EV / EBITDA-13.38×20.49×11.62×14.3×13.19×19.94×13.2×-9.11×
Gross margin33.3%34.7%33.5%30.7%33.3%35.0%32.6%34.0%
Operating margin-18.7%6.5%17.2%13.7%13.3%8.1%12.3%-38.8%
Net margin-23.4%10.6%10.7%8.9%3.9%1.4%7.7%-38.8%
Current ratio1.15×1.06×0.99×0.87×0.99×1.34×1.03×1.21×
Debt / equity0.51×0.4×0.4×0.41×0.44×0.56×0.57×0.6×
Interest coverage-4.93×1.85×5.01×3.95×1.69×1.53×2.26×-7.95×
Dividend yield6.6%5.2%4.3%3.9%4.5%4.6%5.0%6.1%
Payout ratio-32.5%70.4%68.8%82.9%193.6%550.0%100.9%-31.2%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity-14.0%5.6%5.8%4.9%2.1%0.7%3.7%-19.7%
Return on invested capital-6.2%2.1%4.3%3.5%2.4%0.8%2.4%-9.6%
Return on assets-7.1%3.1%3.2%2.6%1.1%0.4%1.9%-9.9%
Free cash flow yield12.8%8.5%6.5%3.1%10.3%10.1%7.1%3.3%
Earnings yield-20.4%7.4%6.3%4.7%2.3%0.8%4.9%-19.4%
Enterprise value$47.2B$55.7B$64B$68.9B$61.5B$67.7B$66.2B$82.5B
Net debt / EBITDA-5.27×6.82×3.38×3.95×3.94×7.34×5.38×-3.32×
Cash conversion cycle (days)81385-15-410