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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
-47.8%
$78.39
vs $150.07 price
Levered DCF
$97.86
After debt service
Piotroski score
8 / 9
Strong
Altman Z-score
3.02
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/E18.34×14.56×-15×255.55×12.14×19.47×13.19×10.1×
P/B0.81×1×0.86×0.81×1.49×1.18×1.21×1.17×
P/S0.63×0.7×0.59×0.56×1.12×1.05×0.98×0.87×
EV / EBITDA7.36×7.13×25.75×11.11×7.74×9.91×9.2×7.36×
Gross margin23.9%24.8%24.3%25.1%29.2%25.4%26.8%28.4%
Operating margin4.7%6.4%-2.6%2.1%11.9%6.7%8.3%11.0%
Net margin3.4%4.8%-3.9%0.2%9.2%5.4%7.5%8.6%
Current ratio2.19×2.06×1.78×1.92×1.78×2.26×1.63×1.38×
Debt / equity0.29×0.35×0.41×0.4×0.32×0.36×0.36×0.44×
Interest coverage28.63×14.32×-3.71×4.71×23.32×12.14×20.04×28.21×
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 equity4.4%6.9%-5.8%0.3%12.3%6.0%9.2%11.6%
Return on invested capital3.5%5.2%-2.5%0.3%8.9%4.5%6.9%7.8%
Return on assets2.7%4.1%-3.2%0.2%7.3%3.6%5.6%6.6%
Free cash flow yield9.1%9.0%10.8%1.4%5.0%13.4%8.9%4.4%
Earnings yield5.4%6.9%-6.7%0.4%8.2%5.1%7.6%9.9%
Enterprise value$8.4B$9.5B$9.1B$9.2B$15B$12.3B$12.6B$11.8B
Net debt / EBITDA1.41×1.47×7.1×3.26×1.27×1.85×2.02×1.95×
Cash conversion cycle (days)135130127130113111129134