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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
-40.8%
$18.67
vs $31.55 price
Levered DCF
$36.59
After debt service
Piotroski score
8 / 9
Strong
Altman Z-score
-0.7
Distress zone
Rating
B-
Overall 3 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E19.71×22.22×36.05×12.29×11.77×6.29×16.15×18.3×
P/B0.97×0.75×0.78×1.11×1.11×1×1.02×0.67×
P/S1.39×1.06×1.14×2.09×2.4×1.5×1.69×1.2×
EV / EBITDA8.06×4.4×11.95×8.72×-2.3×5.05×5.72×2.78×
Gross margin52.5%49.2%48.7%83.6%93.4%88.4%82.2%87.2%
Operating margin9.7%6.5%4.3%22.6%27.0%32.1%13.3%11.4%
Net margin7.1%4.8%3.2%17.0%20.4%23.8%10.4%8.7%
Current ratio0.1×0.1×0.11×0.09×0.21×0.13×0.14×0.13×
Debt / equity0.41×0.43×0.73×0.83×0.35×1.12×0.13×0.18×
Interest coverage0.21×0.13×0.09×1.67×5.04×4.57×0.78×0.91×
Dividend yield0.0%0.2%0.0%0.0%0.0%0.0%0.0%1.8%
Payout ratio0.0%5.5%0.0%0.0%0.0%0.0%0.0%24.4%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity5.0%3.4%2.2%9.0%9.4%15.8%6.3%4.8%
Return on invested capital3.4%2.1%1.2%4.7%6.4%6.9%4.9%3.9%
Return on assets0.4%0.3%0.2%0.8%0.8%1.2%0.6%0.5%
Free cash flow yield-2.2%-0.9%10.3%17.0%66.2%-61.1%-16.9%21.7%
Earnings yield5.1%4.5%2.8%8.1%8.5%15.9%6.2%7.2%
Enterprise value$166.2M$62.2M$112.8M$268.8M-$65.6M$172.4M$67.8M$26.8M
Net debt / EBITDA-4.49×-8.94×-8.09×0.08×-10.79×0.52×-5.23×-5.37×
Cash conversion cycle (days)2635303032323639