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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
-1377.4%
-$777.67
vs $60.88 price
Levered DCF
-$593.82
After debt service
Piotroski score
4 / 9
Average
Altman Z-score
0.75
Distress zone
Rating
C
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E8.85×-9.54×-3.29×-4.9×-5.36×-9.19×-11.25×-12.48×
P/B-29.43×-3.16×-2.52×-7.89×1,951.79×8.36×4.76×4.56×
P/S3.49×4.3×2.2×3.92×5.21×10.58×9.21×6.04×
EV / EBITDA8.75×-42.84×-11.19×-10.66×-10.56×-13.99×-14.68×-17.03×
Gross margin95.9%92.9%93.0%93.6%94.0%95.0%96.0%95.2%
Operating margin49.5%-37.5%-46.9%-64.0%-69.5%-113.4%-78.6%-43.7%
Net margin39.4%-45.0%-66.8%-80.0%-97.3%-115.1%-82.0%-48.4%
Current ratio2.35×2.35×2.02×1.71×1.87×4.44×3.3×1.92×
Debt / equity-13.19×-2.25×-2.72×-4.21×882.73×0.87×0.55×0.44×
Interest coverage5.63×-1.81×-3.4×-4.92×-4.35×-7.66×-19.31×-9.21×
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-332.5%33.1%76.6%161.1%-36432.6%-90.9%-42.3%-36.5%
Return on invested capital33.4%-21.7%-26.3%-30.8%-22.7%-22.3%-17.1%-12.0%
Return on assets23.5%-21.3%-33.1%-32.8%-27.0%-19.8%-15.5%-11.4%
Free cash flow yield6.8%-5.2%-13.5%-18.6%-12.0%-6.2%-5.1%-2.7%
Earnings yield11.3%-10.5%-30.4%-20.4%-18.7%-10.9%-8.9%-8.0%
Enterprise value$7.8B$5.2B$3.7B$3.9B$3.9B$4.2B$2.9B$1.5B
Net debt / EBITDA1.94×-14.04×-4.95×-3.21×-2.93×-0.7×-0.2×0.83×
Cash conversion cycle (days)21210919937-668336385