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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
+15.1%
$29.40
vs $25.55 price
Levered DCF
$27.30
After debt service
Piotroski score
4 / 9
Average
Altman Z-score
6.67
Safe zone
Rating
S-
Overall 5 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E6.72×12.44×-14.49×-31.08×-21.99×-147.71×85.6×134.48×
P/B1.79×3.35×2.71×2.21×3.05×3.22×2.61×2.04×
P/S2×2.93×1.83×2.05×3.13×3.84×2.7×2.44×
EV / EBITDA7.1×11.07×-77.78×-53.92×-35.87×111.48×23.91×39.29×
Gross margin70.7%71.8%67.1%67.8%66.6%70.6%66.2%69.5%
Operating margin20.6%18.4%-12.3%-12.4%-12.2%-2.4%5.6%0.0%
Net margin30.0%23.5%-12.7%-6.6%-14.3%-2.5%3.1%1.8%
Current ratio1.5×1.59×1.27×1.78×2.1×2.75×2.84×2.64×
Debt / equity0.02×0.04×0.04×0.05×0.05×0.05×0.05×0×
Interest coverage0×0×0×0×-26,128×0×0×0×
Dividend yield3.8%0.7%0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio25.3%8.3%0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity26.8%26.9%-18.7%-7.1%-13.9%-2.1%3.0%1.5%
Return on invested capital17.7%19.4%-16.6%-12.0%-10.3%-1.8%2.5%0.0%
Return on assets18.3%16.9%-10.3%-4.3%-8.9%-1.5%2.1%1.1%
Free cash flow yield10.4%6.5%-5.4%-2.4%-0.7%1.4%1.6%-0.8%
Earnings yield15.0%8.0%-6.9%-3.2%-4.6%-0.7%1.1%0.7%
Enterprise value$422.3M$637.8M$395.2M$363.4M$617.5M$751.9M$615.3M$440.8M
Net debt / EBITDA-1.08×-1.28×7.02×12.73×3.09×-11.27×-2.73×-6.81×
Cash conversion cycle (days)95849989115152136157