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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
-94.8%
$9.50
vs $184.22 price
Levered DCF
$15.84
After debt service
Piotroski score
7 / 9
Strong
Altman Z-score
121.43
Safe zone
Rating
B+
Overall 3 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E257.61×360.14×175.74×-35.67×-67.44×-19.79×-11.59×-11.31×
P/B57.02×34.01×10.61×5.16×15.29×15.12×-3.42×-3.87×
P/S94.11×59.39×16.57×6.95×22.72×21.07×9.13×11.39×
EV / EBITDA249.48×323.22×132.41×-32.59×-70.22×-18.65×-11.05×-10.23×
Gross margin82.4%80.2%80.6%78.6%78.0%67.7%67.4%72.2%
Operating margin31.6%10.8%5.4%-8.5%-26.7%-107.4%-77.6%-104.7%
Net margin36.3%16.1%9.4%-19.6%-33.7%-106.7%-78.1%-97.4%
Current ratio7.11×5.96×5.55×5.17×4.34×3.74×1.67×2.29×
Debt / equity0.03×0.05×0.07×0.1×0.11×0.3×-0.2×0×
Interest coverage0×0×34.57×-39.72×-112.92×-83.01×-188.32×-181.23×
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 equity22.0%9.2%6.0%-14.6%-22.7%-76.6%29.3%33.1%
Return on invested capital17.9%5.5%2.9%-5.5%-15.6%-54.9%-66.6%-69.3%
Return on assets18.3%7.3%4.6%-10.8%-16.0%-43.4%-36.4%-40.5%
Free cash flow yield0.5%0.7%1.9%1.4%0.9%-1.3%-2.6%-0.8%
Earnings yield0.4%0.3%0.6%-2.8%-1.5%-5.1%-8.5%-8.6%
Enterprise value$420B$168.3B$36.3B$10.9B$33B$21.5B$6.1B$5.7B
Net debt / EBITDA-0.71×-3.57×-2.2×7.02×4.32×1.35×1.24×2.02×
Cash conversion cycle (days)8173509-3535-53-49