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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
+34.5%
$43.38
vs $32.26 price
Levered DCF
$49.58
After debt service
Piotroski score
7 / 9
Strong
Altman Z-score
3.95
Safe zone
Rating
A-
Overall 4 / 5
Ratios by fiscal year

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

MetricFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
P/E19.49×23.04×13.13×8.42×9.38×-4.52×9.31×11.92×
P/B1.01×0.88×1.19×1.57×1.82×1.18×0.76×1.48×
P/S0.77×0.65×0.91×1.06×1.17×0.99×0.57×1.08×
EV / EBITDA8.21×8.56×6.3×4.75×5.05×-3.04×4.83×7.77×
Gross margin54.2%54.0%55.1%57.7%57.2%53.4%53.5%54.4%
Operating margin4.4%3.1%8.1%16.0%16.0%2.8%6.1%9.2%
Net margin4.0%2.8%6.9%12.6%12.5%-22.0%6.1%9.1%
Current ratio4.58×4.34×4.81×3.98×3.66×3.93×4.25×4.15×
Debt / equity0.15×0.2×0.18×0.17×0.16×0.25×0.28×0.1×
Interest coverage58.83×40.93×110.07×232.34×170.77×7.24×46.23×80.67×
Dividend yield6.0%7.3%8.7%3.9%2.6%0.5%4.6%2.5%
Payout ratio116.9%169.2%113.8%33.2%24.0%-2.1%43.1%30.0%
Key metrics by fiscal year
MetricFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Return on equity5.2%3.8%9.0%18.6%19.4%-26.1%8.1%12.4%
Return on invested capital3.6%2.3%6.4%14.4%14.5%1.8%4.2%9.6%
Return on assets3.6%2.5%6.1%12.0%12.0%-15.5%5.0%8.1%
Free cash flow yield10.4%-2.2%11.2%5.9%14.5%13.0%4.8%10.2%
Earnings yield5.1%4.3%7.6%11.9%10.7%-22.1%10.7%8.4%
Enterprise value$363.7M$312M$442.9M$632.7M$658.9M$383.9M$361.2M$595.9M
Net debt / EBITDA-3.43×-3.12×-2.42×-1.22×-1.54×0.94×-0.49×-1.82×
Cash conversion cycle (days)220206202228183266193194