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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
+329.0%
$22.37
vs $5.22 price
Levered DCF
$1.48
After debt service
Piotroski score
5 / 9
Average
Altman Z-score
0.94
Distress 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-17.57×-15.71×-24.45×4.41×12.66×7.48×-4.89×10.77×
P/B1.75×1.55×1.57×1.82×2.63×6.28×3.97×3.07×
P/S0.35×0.26×0.36×0.38×0.3×0.31×0.28×0.4×
EV / EBITDA8.33×7.13×7.36×4.35×6.31×5.93×12.5×7.35×
Gross margin17.3%16.0%21.1%17.7%17.2%16.0%17.5%18.7%
Operating margin9.9%8.0%11.4%8.5%8.5%0.0%9.9%10.3%
Net margin-2.0%-1.6%-1.4%8.5%2.3%4.1%-6.0%3.7%
Current ratio1.25×1.15×1.23×1.1×1.36×1.21×1.25×1.07×
Debt / equity3.86×4.8×3.07×3.33×6.7×17.31×11.9×5.93×
Interest coverage1.86×1.55×2.38×2.45×2.5×0×2.13×2.72×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.4%1.7%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%3.2%-7.8%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity-10.0%-9.8%-6.4%41.2%20.7%83.8%-85.7%28.6%
Return on invested capital8.7%-17.3%-13.6%6.5%3.8%0.0%8.6%5.7%
Return on assets-1.4%-1.2%-1.1%6.4%1.7%2.8%-4.2%2.6%
Free cash flow yield7.4%-7.6%5.1%-15.0%15.3%7.8%-1.1%9.2%
Earnings yield-5.7%-6.3%-4.1%22.7%7.9%13.3%-21.6%9.3%
Enterprise value$6.5B$6.1B$6.6B$6.5B$6B$6.4B$6.9B$7.6B
Net debt / EBITDA5.43×5.17×4.52×2.63×4.32×4.22×9.12×4.68×
Cash conversion cycle (days)20201181217199