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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
-81.4%
$3.63
vs $19.56 price
Levered DCF
$3.04
After debt service
Piotroski score
1 / 9
Weak
Altman Z-score
16.86
Safe zone
Rating
C
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020
P/E-20.05×-10.04×-5.2×-9.16×-2.92×4,613.91×
P/B5.87×3.2×3.18×0.48×3.06×1.48×
P/S178.34×53.22×65.13×2.01×0×0×
EV / EBITDA-14.54×-6.85×-3.26×11.68×-2.73×-28.2×
Gross margin99.7%100.0%100.0%100.0%0.0%0.0%
Operating margin-1002.9%-386.9%-1298.6%-3.5%0.0%0.0%
Net margin-905.7%-530.3%-1255.8%-22.0%0.0%0.0%
Current ratio7.88×8.08×6.95×13.26×5.96×7.9×
Debt / equity0×0×0×0×0×0×
Interest coverage0×0×-26.91×-12.39×-85.1×0×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020
Return on equity-29.8%-31.9%-61.4%-5.3%-73.8%-5.5%
Return on invested capital-33.0%-23.3%-61.6%-0.8%-61.6%-4.7%
Return on assets-26.5%-27.9%-51.0%-4.7%-61.5%-5.0%
Free cash flow yield-3.7%-6.6%-15.4%5.1%-17.1%-3.9%
Earnings yield-5.1%-10.0%-19.3%-10.9%-24.1%-3.7%
Enterprise value$3.5B$1.7B$577.3M-$260.9M$112.9M$187M
Net debt / EBITDA2.02×3.19×1.92×20.93×1.46×0.21×
Cash conversion cycle (days)-55,11717149000