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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
+55.0%
$53.96
vs $34.81 price
Levered DCF
$93.30
After debt service
Piotroski score
7 / 9
Strong
Altman Z-score
3.78
Safe zone
Rating
A
Overall 4 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E17.63×9.48×18.28×26×-5.23×-9.52×285.41×8.76×
P/B4.19×2.92×2.27×2.08×2.04×1.34×1.39×1.58×
P/S2.92×1.79×1.45×1.3×2.14×2.98×3.22×2.83×
EV / EBITDA10.23×5.84×7×6.2×47.5×-29.32×17.18×18×
Gross margin28.3%26.8%26.6%27.0%25.0%21.7%21.7%21.0%
Operating margin25.3%23.9%22.8%21.7%-0.4%-32.1%3.0%-2.3%
Net margin16.5%18.9%7.2%5.6%17.7%-59.8%77.4%32.3%
Current ratio0.67×0.62×0.5×0.59×1.46×1.79×0.88×1.78×
Debt / equity0.43×0.45×0.61×0.84×0.5×0.67×0.61×1.31×
Interest coverage40.44×20.66×16.15×16.45×-0.1×-3.26×0.29×-0.14×
Dividend yield0.0%0.1%5.2%15.7%62.0%0.0%0.0%0.3%
Payout ratio0.2%0.6%104.5%363.9%748.1%0.0%0.0%3.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity23.7%30.9%11.3%9.0%16.9%-26.9%33.3%18.0%
Return on invested capital16.5%16.8%8.7%4.0%-0.2%-5.4%0.6%-0.4%
Return on assets12.8%15.9%5.1%3.5%8.7%-12.3%14.4%5.5%
Free cash flow yield5.3%5.7%9.0%7.8%-8.9%6.1%4.5%4.9%
Earnings yield5.7%10.6%5.0%4.3%8.3%-20.1%24.0%11.4%
Enterprise value$5.3B$3.1B$2.6B$2.2B$2.6B$3.7B$5.5B$5.5B
Net debt / EBITDA0.71×0.62×1.3×1.6×4.52×-5.13×5.02×7.48×
Cash conversion cycle (days)1212151649260175