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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
+72.0%
$16.84
vs $9.79 price
Levered DCF
$13.85
After debt service
Piotroski score
3 / 9
Weak
Altman Z-score
-2.79
Distress zone
Rating
C
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-3.27×-4.31×-6.91×-6.11×-7.11×-19.33×-9.11×-8.16×
P/B5.23×1.81×2.65×1.98×1.83×2.84×2.64×3.07×
P/S13.5×13.93×0×0×0×0×0×0×
EV / EBITDA-2.84×-3.2×-6.88×-5.88×-6.53×-16.01×-8.28×-7.72×
Gross margin99.9%100.0%0.0%0.0%0.0%0.0%0.0%0.0%
Operating margin-449.9%-358.5%0.0%0.0%0.0%0.0%0.0%0.0%
Net margin-412.9%-322.9%0.0%0.0%0.0%0.0%0.0%0.0%
Current ratio6.06×9.46×12.26×18.56×23.26×24.49×15.39×13.31×
Debt / equity0.12×0.04×0.04×0.03×0.01×0.02×0.04×0.05×
Interest coverage-200.81×-119.33×-107.04×-610.76×-317.05×-158.99×-116.34×-64.83×
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-160.0%-42.1%-38.4%-32.3%-25.8%-14.7%-28.9%-37.5%
Return on invested capital-48.8%-28.2%-39.9%-32.2%-25.5%-14.7%-29.7%-37.3%
Return on assets-37.7%-22.9%-34.0%-29.8%-24.4%-13.8%-26.1%-33.1%
Free cash flow yield-7.8%17.8%-11.9%-13.3%-11.4%-4.2%-9.5%-9.8%
Earnings yield-30.6%-23.2%-14.5%-16.3%-14.0%-5.2%-10.9%-12.2%
Enterprise value$782.3M$542.6M$1B$793.6M$845.1M$1.4B$558.4M$485.5M
Net debt / EBITDA0.47×1.23×0.13×0.28×0.65×3.49×0.27×0.14×
Cash conversion cycle (days)-29,4140-98900-5,1800-143,628