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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
-97.5%
$6.79
vs $273.60 price
Levered DCF
$33.32
After debt service
Piotroski score
3 / 9
Weak
Altman Z-score
12.52
Safe zone
Rating
D+
Overall 1 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-679.83×-468.17×-151.38×-76.63×-158.43×-189.97×-48.74×-48.65×
P/B47.08×35.14×36.41×23.64×50.34×27.88×7.06×-37.64×
P/S31.69×22.02×21.42×15.13×62.57×52.85×17.84×22.17×
EV / EBITDA675.3×613.71×-805.32×-193.33×-318.23×-456.31×-67.35×-64.32×
Gross margin74.5%77.3%76.3%76.1%77.6%76.6%77.9%77.4%
Operating margin-9.6%-9.3%-14.3%-20.6%-19.5%-24.8%-37.6%-44.1%
Net margin-4.7%-4.7%-14.2%-19.8%-39.7%-27.7%-36.9%-45.2%
Current ratio1.98×2.86×3.5×4.74×6.77×7.99×8.22×3.21×
Debt / equity2.54×1.4×1.88×2.53×1.59×0.52×0.01×-0.09×
Interest coverage-23.64×-29.78×-31.59×-40.37×-2.59×-4.28×-97.07×-85.58×
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 equity-7.0%-7.5%-24.1%-31.0%-31.9%-14.6%-14.6%76.8%
Return on invested capital-4.1%-6.1%-8.3%-9.0%-6.0%-8.1%-14.5%-35.8%
Return on assets-1.7%-2.4%-6.7%-7.5%-11.0%-8.6%-12.7%-29.2%
Free cash flow yield0.5%0.5%0.4%-0.3%-0.1%-0.4%-1.9%-1.8%
Earnings yield-0.1%-0.2%-0.7%-1.3%-0.6%-0.5%-2.1%-2.0%
Enterprise value$71.4B$38.1B$29.1B$16.1B$42B$23.1B$5B$4.3B
Net debt / EBITDA26.06×21.2×-37.28×-16.46×-7.41×-6.31×1.73×0.22×
Cash conversion cycle (days)13-2993-84-20-69