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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
-3770.3%
-$3,146.94
vs $85.74 price
Levered DCF
-$2,442.82
After debt service
Piotroski score
3 / 9
Weak
Altman Z-score
-0.33
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-168.06×-22.35×-7.38×-4.86×-5.76×-4.27×-10.71×-17.61×
P/B12.6×8.71×4.85×4.65×4.02×2.56×4.32×-29.42×
P/S7.61×5.83×6.48×8.56×25.27×0×0×0×
EV / EBITDA231.78×-42.07×-9×-5.16×-6.96×-2.95×-10.64×-19.42×
Gross margin80.7%75.8%74.8%83.9%90.1%0.0%0.0%0.0%
Operating margin-4.2%-26.0%-58.6%-170.3%-906.1%0.0%0.0%0.0%
Net margin-4.5%-26.1%-87.7%-176.0%-438.9%0.0%0.0%0.0%
Current ratio2.67×3.1×4.45×2.94×3.91×12.8×9.13×21.22×
Debt / equity1.02×1.41×1.24×0.02×0.02×0.02×0.03×0×
Interest coverage-1.54×-6.12×-7.23×-8.21×-9.86×-311.33×0×0×
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-7.4%-39.0%-65.7%-95.5%-69.9%-60.0%-40.3%168.1%
Return on invested capital-3.5%-16.0%-19.5%-43.3%-68.6%-46.8%-40.8%-5.9%
Return on assets-2.8%-13.1%-25.3%-38.4%-28.5%-42.9%-35.8%-33.4%
Free cash flow yield1.4%0.5%-7.5%-18.2%-31.4%-20.3%-7.0%-2.6%
Earnings yield-0.6%-4.5%-13.5%-20.6%-17.4%-23.4%-9.3%-5.7%
Enterprise value$4B$2.1B$1.2B$634M$454.9M$302.1M$555.4M$251.7M
Net debt / EBITDA1.32×-1.95×-0.16×0.21×0.44×1.36×0.16×4.01×
Cash conversion cycle (days)14212024921-1,385-1,846-3,7750