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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
-2714.5%
-$60.92
vs $2.33 price
Levered DCF
-$86.78
After debt service
Piotroski score
1 / 9
Weak
Altman Z-score
-4.43
Distress zone
Rating
D+
Overall 1 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-1.36×-3.04×-64.13×-3.44×-4.76×-9.26×-3.44×-3.03×
P/B1.83×1.75×3.9×2.9×4.02×4.05×2.27×2.14×
P/S0.68×1.37×10.42×2.75×12.72×12.26×8.43×8.65×
EV / EBITDA-2.54×-1.01×262.16×-3.13×-4.53×-8.79×-2.59×-1.85×
Gross margin71.1%91.7%85.6%95.1%96.5%100.0%100.0%100.0%
Operating margin-48.7%-74.5%-294.2%-80.9%-268.1%-134.1%-285.7%-284.8%
Net margin-49.9%-45.1%-15.8%-79.8%-267.2%-132.7%-244.8%-285.2%
Current ratio5.1×3.92×4.48×4.57×3.75×6.17×5.31×4.49×
Debt / equity1.92×0.32×0.22×0.25×0.11×0.1×0.13×0×
Interest coverage-8.56×-99.17×-117.65×0×0×0×0×0×
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-134.2%-57.7%-5.9%-84.3%-84.3%-43.8%-65.8%-70.6%
Return on invested capital-33.0%-50.3%-68.4%-49.4%-76.4%-39.5%-65.5%-62.8%
Return on assets-29.1%-25.6%-3.0%-41.4%-60.3%-34.3%-48.6%-51.6%
Free cash flow yield-81.6%-35.4%-13.4%-22.0%-15.6%-9.8%-26.5%-34.3%
Earnings yield-73.4%-32.9%-1.5%-29.1%-21.0%-10.8%-29.0%-33.0%
Enterprise value$151.2M$58.1M$528.8M$338M$864.1M$1B$427.2M$299.6M
Net debt / EBITDA-0.83×2.53×-33.21×0.69×0.51×1.28×0.58×1.36×
Cash conversion cycle (days)59-138-166-34-1,4808675180