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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
-58.0%
$25.69
vs $61.18 price
Levered DCF
$60.60
After debt service
Piotroski score
7 / 9
Strong
Altman Z-score
4.62
Safe zone
Rating
B+
Overall 3 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E22.1×39.09×-155.92×16.76×10.8×14.8×15.27×12.37×
P/B9.07×12.02×10.92×5.68×8.07×5.51×3.63×4.31×
P/S3.4×4.45×4.5×2.56×2.56×2.8×2.15×1.97×
EV / EBITDA14.49×27.92×-120.94×11.2×7.19×9.76×13.7×6.51×
Gross margin99.2%30.5%16.4%37.3%40.7%40.5%34.6%42.0%
Operating margin18.1%14.5%-4.7%21.9%32.2%28.2%15.3%25.6%
Net margin15.4%11.4%-2.9%15.3%23.7%19.0%14.1%15.9%
Current ratio21.47×0.72×0.42×0.47×0.67×0.55×0.47×0.62×
Debt / equity0.47×0.51×0.61×0.43×0.39×0.41×0.45×0.06×
Interest coverage0×0×0×0×0×0×0×0×
Dividend yield4.0%3.5%4.7%6.9%12.2%10.7%13.0%18.0%
Payout ratio89.6%135.4%-737.5%116.2%131.4%158.2%199.0%223.1%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity41.0%30.8%-7.0%33.8%74.7%37.3%23.7%34.8%
Return on invested capital12.0%19.0%-6.6%25.9%58.4%33.5%17.8%52.3%
Return on assets12.9%9.9%-2.1%12.4%23.5%14.9%9.8%15.4%
Free cash flow yield10.5%7.8%3.7%1.1%23.3%14.7%12.6%22.0%
Earnings yield4.5%2.6%-0.6%6.0%9.3%6.8%6.5%8.1%
Enterprise value$4.9B$5.1B$3.9B$2.5B$3.6B$2.6B$1.6B$1.5B
Net debt / EBITDA-0.71×-1.03×-0.91×-0.06×-0.65×-0.02×0.25×-1.02×
Cash conversion cycle (days)-1,31481114-1123159