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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
+207.3%
$90.28
vs $29.38 price
Levered DCF
$111.68
After debt service
Piotroski score
8 / 9
Strong
Altman Z-score
-0.41
Distress zone
Rating
A+
Overall 4 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E6.75×6.83×5.34×9.27×14.84×13.55×8.32×7.6×
P/B0.85×1.01×0.88×0.88×0.7×1.08×0.76×0.77×
P/S1.91×2.01×1.85×3.13×3.48×3.23×1.87×1.97×
EV / EBITDA4.63×3.7×3.75×4.45×3.31×7.71×0.16×5.13×
Gross margin66.1%63.7%72.9%88.4%82.8%79.1%72.7%79.0%
Operating margin39.6%41.1%48.4%46.8%30.7%30.3%29.6%33.3%
Net margin28.2%29.4%34.6%33.8%23.5%23.9%22.4%25.8%
Current ratio0.06×0.05×0.06×0.09×0.17×0.09×0.17×0.09×
Debt / equity0.21×0.01×0.25×0.09×0.12×0.21×0.16×0.33×
Interest coverage1.17×1.15×1.83×4.24×3.05×1.56×1.14×1.77×
Dividend yield4.4%2.4%1.5%3.0%1.3%0.6%0.7%0.6%
Payout ratio30.0%16.7%7.9%27.6%19.0%8.2%6.1%4.3%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity12.6%14.8%16.6%9.5%4.7%8.0%9.1%10.1%
Return on invested capital10.3%13.9%12.7%8.2%4.0%6.3%7.4%6.8%
Return on assets2.2%2.3%2.6%1.7%1.0%1.3%1.4%1.5%
Free cash flow yield17.0%15.0%17.1%10.5%8.6%8.7%8.7%9.5%
Earnings yield14.8%14.7%18.7%10.8%6.7%7.4%12.0%13.1%
Enterprise value$293.8M$247.7M$247.5M$158.7M$55.2M$128.6M$2.9M$90.5M
Net debt / EBITDA-0.1×-1.1×0.01×-2×-7.27×-2.26×-5.89×-0.5×
Cash conversion cycle (days)-9031344331272530