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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
+0.8%
$15.80
vs $15.67 price
Levered DCF
$17.89
After debt service
Piotroski score
6 / 9
Average
Altman Z-score
-0.61
Distress zone
Rating
B+
Overall 3 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E12.9×16.7×11.77×13.31×11.61×20.55×15.84×16.45×
P/B0.93×1.05×1.02×1.19×1.13×1×1.29×1.37×
P/S2.01×2.22×2.26×3.18×3.35×2.72×3.39×3.72×
EV / EBITDA11.96×12.13×10.55×14.19×4.33×12.41×14.15×14.12×
Gross margin68.3%65.8%75.0%89.9%97.9%77.6%84.5%87.6%
Operating margin18.8%17.2%25.0%31.1%37.7%16.4%27.4%28.8%
Net margin14.4%13.3%19.3%24.0%28.9%13.3%21.5%22.7%
Current ratio0.13×0.12×0.1×0.11×0.23×0.18×0.1×0.11×
Debt / equity0.24×0.28×0.41×0.62×0.25×0.27×0.27×0.27×
Interest coverage0.73×0.55×1.15×6.18×7.38×2.19×2.48×3.61×
Dividend yield6.2%6.1%6.4%5.7%5.6%6.1%4.4%4.0%
Payout ratio87.2%101.6%75.3%75.9%65.0%124.4%69.0%66.3%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity6.7%6.3%8.7%9.0%9.7%4.9%8.2%8.4%
Return on invested capital4.5%4.4%5.6%5.1%7.0%3.4%5.8%6.2%
Return on assets0.8%0.7%0.9%0.9%1.1%0.5%1.1%1.1%
Free cash flow yield8.1%7.5%5.3%9.7%10.5%8.4%6.7%7.7%
Earnings yield7.2%6.0%8.5%7.5%8.6%4.9%6.3%6.1%
Enterprise value$2B$1.8B$2.1B$2.6B$899.2M$1.2B$2.1B$2B
Net debt / EBITDA1.29×1.04×2.61×4.36×-4.27×-3.34×2.12×1.95×
Cash conversion cycle (days)1413-42-40171314