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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
+227.7%
$665.93
vs $203.24 price
Levered DCF
$692.23
After debt service
Piotroski score
5 / 9
Average
Altman Z-score
4.11
Safe zone
Rating
C+
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E19.43×14.18×19.31×24.1×27.9×18.64×11.45×10.95×
P/B2.17×3.72×4.98×6.44×6.99×5.99×4.31×4.7×
P/S0.19×0.41×0.62×0.6×0.66×0.65×0.5×0.41×
EV / EBITDA8.73×8.01×10.62×12.95×14.51×9.34×6.51×5.14×
Gross margin9.0%11.7%12.7%12.3%11.8%13.8%14.5%13.9%
Operating margin1.7%4.2%4.6%4.3%3.7%5.6%6.2%6.0%
Net margin1.0%2.9%3.2%2.5%2.4%3.5%4.4%3.7%
Current ratio1.69×1.62×1.54×1.47×1.43×1.59×1.83×1.52×
Debt / equity0.97×0.69×0.57×0.81×0.91×1.12×0.76×0.89×
Interest coverage4.07×14.47×14.43×12.55×8.5×10.57×12×9.83×
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 equity11.6%26.2%25.9%26.7%25.1%32.1%37.6%42.9%
Return on invested capital7.6%16.4%17.4%18.8%14.9%16.5%22.4%25.4%
Return on assets3.0%7.5%7.3%6.4%5.4%7.1%10.9%9.9%
Free cash flow yield-7.2%3.3%7.5%3.6%11.1%14.5%4.4%-4.4%
Earnings yield5.4%7.1%5.2%4.1%3.6%5.4%8.7%9.1%
Enterprise value$8.5B$15.2B$18.5B$17.5B$16.3B$10.7B$7.5B$6.4B
Net debt / EBITDA-0.31×-0.82×-1.41×-1.2×-1.82×-1.57×-0.84×-1.1×
Cash conversion cycle (days)1916181516171817