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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
-67.8%
$12.11
vs $37.62 price
Levered DCF
$73.67
After debt service
Piotroski score
7 / 9
Strong
Altman Z-score
3.34
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/E23.9×-4.11×-10.54×34.52×66.83×108.31×-646.72×-30.95×
P/B1.38×0.97×0.82×1.01×1.15×1.03×0.92×1.1×
P/S2.65×1.83×1.88×2.25×2.78×2.48×1.99×2.49×
EV / EBITDA9.81×-3.82×-22.21×11.42×15.05×14.94×14.72×33.79×
Gross margin74.2%78.3%77.4%75.6%75.0%73.3%72.8%72.1%
Operating margin13.0%-44.7%-18.1%8.5%5.7%4.5%2.0%-7.9%
Net margin11.1%-44.6%-17.8%6.5%4.2%2.3%-0.3%-8.1%
Current ratio1.83×1.75×1.7×1.36×1.94×1.76×1.65×2.11×
Debt / equity0.02×0.05×0.1×0.1×0.23×0.24×0.31×0.27×
Interest coverage65.49×-51.34×-17.32×7.58×6.04×3.41×0.86×-2.74×
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
MetricFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Return on equity5.8%-23.5%-7.8%2.9%1.7%1.0%-0.1%-3.6%
Return on invested capital4.8%-20.5%-6.8%2.8%1.5%1.2%-0.9%-2.0%
Return on assets4.1%-16.8%-5.7%2.1%1.1%0.6%-0.1%-2.2%
Free cash flow yield12.5%14.0%3.4%7.1%12.0%9.6%11.5%5.6%
Earnings yield4.2%-24.3%-9.5%2.9%1.5%0.9%-0.2%-3.2%
Enterprise value$1.7B$1.1B$1.4B$1.9B$2.2B$2.1B$2B$2.4B
Net debt / EBITDA-3.09×1.29×3.4×-1.08×-1.14×0.13×1.89×1.97×
Cash conversion cycle (days)4858845962899097