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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
-24.3%
$24.35
vs $32.16 price
Levered DCF
$7.84
After debt service
Piotroski score
6 / 9
Average
Altman Z-score
10.37
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/E11.22×9.68×11.31×6.82×12.85×9.62×14.1×11.15×
P/B0.89×1.21×1.41×1.21×2.07×1.41×1.82×1.27×
P/S2.84×3.24×3.25×1.8×3.24×2.07×2.4×1.49×
EV / EBITDA8.65×7.6×8.96×5.5×10.26×7.86×11.06×7.53×
Gross margin47.4%51.1%47.3%41.6%42.3%37.9%37.9%33.8%
Operating margin29.4%34.5%34.1%30.4%29.8%26.9%22.4%20.3%
Net margin25.4%33.5%28.8%26.4%25.3%21.5%17.1%13.3%
Current ratio3.51×3.8×2.89×2.58×2.21×1.5×1.02×3.1×
Debt / equity0×0×0.06×0.01×0.03×0.14×0.14×0.09×
Interest coverage1,728.82×92.32×69.45×208.05×66.42×45.2×53.9×13.08×
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 equity7.9%12.5%12.5%17.7%16.1%14.7%13.0%11.4%
Return on invested capital7.4%10.3%10.9%16.2%14.9%12.3%11.1%10.7%
Return on assets7.2%11.5%10.7%15.5%13.6%11.2%10.2%9.2%
Free cash flow yield6.0%4.5%-3.5%-1.2%8.5%-1.3%-2.1%-1.4%
Earnings yield8.9%10.3%8.9%14.7%7.8%10.4%7.1%8.9%
Enterprise value$462.1M$597.9M$639.8M$464.3M$647.6M$401.5M$434.8M$256M
Net debt / EBITDA-0.11×0×0.35×0.03×0.11×0.69×0.74×0.44×
Cash conversion cycle (days)38929224015220375118169