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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
-182.4%
-$318.04
vs $386.08 price
Levered DCF
-$179.03
After debt service
Piotroski score
3 / 9
Weak
Altman Z-score
42.53
Safe zone
Rating
C-
Overall 1 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-150.72×-103.46×-16.57×-7.21×-17.93×-35.04×-18.82×-6.29×
P/B18.29×16.52×9.41×5.6×12.95×16.58×8.41×25.06×
P/S13.58×11.63×6.65×4.82×13.52×20.62×7.75×3.13×
EV / EBITDA-138.12×-128.21×-17.61×-7.55×-19.42×-40.28×-23.34×-8.24×
Gross margin64.8%60.3%45.5%44.4%49.1%47.9%42.0%35.6%
Operating margin-13.4%-13.1%-41.2%-66.0%-74.8%-55.3%-38.5%-44.5%
Net margin-9.0%-11.2%-40.2%-66.8%-75.4%-58.8%-41.3%-49.7%
Current ratio3.39×4×4.1×3.9×4.99×4.33×2.91×2.11×
Debt / equity0.13×0.16×0.58×0.63×0.61×0.58×0.56×3.84×
Interest coverage-76.16×-20.8×-35.31×-58.06×-56.37×-14.34×-10.88×-10.94×
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-12.2%-15.9%-56.8%-77.6%-72.2%-47.2%-44.8%-398.5%
Return on invested capital-11.1%-15.8%-36.4%-46.2%-43.6%-27.4%-25.4%-56.1%
Return on assets-8.3%-11.5%-30.2%-39.3%-38.1%-24.6%-21.4%-47.8%
Free cash flow yield0.3%0.4%-4.0%-12.1%-4.4%-2.5%-2.9%-9.2%
Earnings yield-0.7%-1.0%-6.0%-13.9%-5.6%-2.8%-5.3%-15.9%
Enterprise value$30.5B$19B$7B$3.9B$8.8B$8.3B$2.4B$883M
Net debt / EBITDA3.91×5.12×0.5×0.04×-0.69×-1.13×-0.9×-0.72×
Cash conversion cycle (days)637311011271957286