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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
-249.6%
-$17.44
vs $11.66 price
Levered DCF
-$20.18
After debt service
Piotroski score
4 / 9
Average
Altman Z-score
2.17
Grey zone
Rating
C
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-2.36×-2.22×-5.63×-5.66×-31.28×-22.67×-7.48×-6.89×
P/B1.45×1.32×2.58×2.17×8.06×5.78×2.57×2.12×
P/S14.4×19.91×74.61×51.53×253.61×52.52×16.08×19.32×
EV / EBITDA-2.3×-2.31×-5.5×-4.91×-31.93×-22.45×-6.49×-6.12×
Gross margin76.5%82.2%75.3%85.5%79.2%-159.4%-151.5%-192.8%
Operating margin-651.7%-923.1%-1420.5%-879.0%-810.4%-235.5%-246.8%-298.6%
Net margin-609.9%-896.8%-1326.5%-909.8%-810.5%-231.5%-230.9%-280.4%
Current ratio5.08×5.77×8.67×9.61×6.11×9.59×8.12×8.01×
Debt / equity0.14×0.24×0.11×0.11×0.07×0.07×0.07×0×
Interest coverage0×0×0×0×0×0×0×0×
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-61.5%-59.5%-45.8%-38.4%-25.8%-25.5%-36.9%-30.7%
Return on invested capital-57.7%-48.6%-42.8%-32.5%-22.7%-22.1%-34.9%-29.6%
Return on assets-49.0%-43.6%-37.0%-31.2%-20.7%-19.8%-29.8%-24.6%
Free cash flow yield-36.4%-30.8%-15.1%-14.6%-2.8%-1.8%-15.9%-11.5%
Earnings yield-42.4%-45.0%-17.8%-17.7%-3.2%-4.4%-14.4%-14.5%
Enterprise value$912.2M$1.2B$2.6B$2.3B$8.3B$2.9B$654.3M$529M
Net debt / EBITDA0.16×-0.04×0.24×0.84×0.19×0.93×0.39×0.68×
Cash conversion cycle (days)-413-46464-222-489-122679