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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
-355.2%
-$108.27
vs $42.42 price
Levered DCF
$82.80
After debt service
Piotroski score
4 / 9
Average
Altman Z-score
0.24
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-30.95×-12.87×-4.74×-2.98×-10.69×-55.43×-27.88×-57.36×
P/B9.58×4.39×1.58×1.02×2.61×12.53×-16.59×-38.27×
P/S6.93×4.95×2.61×3.46×20.08×71.79×44.98×134.54×
EV / EBITDA-33.69×-12.7×-4.3×-2.27×-10.13×-52.11×-25.7×-55.71×
Gross margin40.3%32.8%21.0%11.1%17.8%21.6%17.7%13.8%
Operating margin-21.8%-38.7%-53.5%-114.8%-181.9%-128.0%-160.3%-233.8%
Net margin-22.4%-38.4%-55.1%-116.0%-187.9%-129.6%-161.2%-235.1%
Current ratio1.52×1.53×1.74×2×2.93×0×0×39.24×
Debt / equity0.34×0.18×0.06×0.04×0.02×0×0×0×
Interest coverage0×0×0×0×0×0×0×0×
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-31.0%-34.1%-33.4%-34.4%-24.4%-22.6%59.5%66.9%
Return on invested capital-22.5%-28.9%-30.6%-32.7%-23.1%0.0%0.0%-33.8%
Return on assets-8.6%-10.9%-14.5%-17.6%-16.0%-14.8%-26.2%-34.4%
Free cash flow yield-0.5%-0.8%-11.4%-19.5%-6.0%-1.4%-2.7%-1.4%
Earnings yield-3.2%-7.8%-21.1%-33.5%-9.4%-1.8%-3.6%-1.7%
Enterprise value$4.9B$2.3B$902.2M$640.8M$2.3B$6.2B$2.8B$2.9B
Net debt / EBITDA1.39×1.46×1.06×0.88×1.08×4.79×2.52×1.95×
Cash conversion cycle (days)259300299484589472375-2,009