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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
-104.8%
-$3.57
vs $74.53 price
Levered DCF
$22.99
After debt service
Piotroski score
8 / 9
Strong
Altman Z-score
8.44
Safe zone
Rating
A-
Overall 4 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E85.9×-157.27×-38.76×-14.14×-39.72×-47.75×-52.99×-59.7×
P/B6.78×11.68×5.65×3.67×7.86×10.23×9.87×13.35×
P/S5.64×8.69×4.06×2.72×8.98×16.34×11.87×8.8×
EV / EBITDA39.31×145.36×182.65×-54.94×-206×-121.6×-118.89×-179.37×
Gross margin54.0%50.9%48.5%45.3%45.1%43.4%48.5%49.5%
Operating margin5.7%-6.1%-13.8%-18.5%-15.6%-24.8%-16.1%-13.2%
Net margin6.5%-5.5%-10.5%-19.3%-22.6%-34.2%-22.5%-14.7%
Current ratio1.02×1.4×2.23×2.77×3.1×4.23×1.4×2.96×
Debt / equity0.52×1.05×1.22×1.75×1.09×0.93×1.24×1.15×
Interest coverage8.44×-8.56×-15.01×-15.69×-2.36×-3.49×-2.5×-3.13×
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 equity7.9%-7.4%-14.6%-26.0%-19.8%-21.4%-18.7%-22.3%
Return on invested capital4.1%-3.8%-8.4%-8.9%-6.4%-7.8%-4.9%-7.4%
Return on assets4.1%-3.0%-5.4%-8.1%-8.1%-9.7%-7.0%-7.6%
Free cash flow yield4.3%2.1%1.6%0.4%0.1%-0.4%-0.4%-0.4%
Earnings yield1.2%-0.6%-2.6%-7.1%-2.5%-2.1%-1.9%-1.7%
Enterprise value$4.5B$6.2B$2.9B$2.1B$4.8B$6.8B$4.1B$2.2B
Net debt / EBITDA-0.18×4.3×20.44×-14.14×-12.89×-3.47×-10.69×-6.08×
Cash conversion cycle (days)14169242221253