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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
-209.7%
-$130.87
vs $119.25 price
Levered DCF
-$5.20
After debt service
Piotroski score
2 / 9
Weak
Altman Z-score
3.61
Safe zone
Rating
C
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2026FY2025FY2024FY2023FY2022FY2021
P/E-31.43×-9.8×-18.38×-23.44×-25.59×-30.55×
P/B-21.16×-20.42×-9.24×-17.47×-62.21×81.5×
P/S8.35×12.75×10.37×10.85×12.86×16.79×
EV / EBITDA-43.15×-10.64×-24.51×-42.85×-44.66×-50.96×
Gross margin80.1%70.0%62.1%53.4%53.3%56.0%
Operating margin-26.2%-127.9%-48.8%-43.6%-49.4%-53.9%
Net margin-26.5%-130.3%-56.4%-46.3%-50.3%-55.0%
Current ratio1.69×1.13×0.84×1.17×0.98×1.56×
Debt / equity-2.18×-0.63×-0.44×-0.58×-0.32×0.07×
Interest coverage-20.05×-27.49×-10.12×-22.34×0×0×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2026FY2025FY2024FY2023FY2022FY2021
Return on equity67.1%208.6%50.3%74.5%243.1%-266.8%
Return on invested capital-23.8%-234.8%-141.0%-76.1%-132.9%-73.6%
Return on assets-12.6%-81.2%-40.5%-36.1%-49.0%-41.8%
Free cash flow yield2.3%0.3%-0.3%-0.2%-1.6%-1.1%
Earnings yield-3.2%-10.2%-5.4%-4.3%-3.9%-3.3%
Enterprise value$11.7B$11.5B$6.7B$6.6B$6.5B$6.4B
Net debt / EBITDA-2.76×-0.15×-0.66×-0.52×0.26×0.91×
Cash conversion cycle (days)5966789710698