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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
+201.9%
$176.74
vs $58.55 price
Levered DCF
$143.88
After debt service
Piotroski score
5 / 9
Average
Altman Z-score
0.3
Distress zone
Rating
A-
Overall 4 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E9.36×6.21×5.56×7.45×9.02×7.55×12.12×11.21×
P/B1.17×0.94×0.8×1.01×1.3×0.89×1.3×1.29×
P/S2.27×1.55×1.48×2.6×3.46×3.25×4.46×4.33×
EV / EBITDA1.99×1.51×-0.9×3.44×3.61×1.32×10.82×12.93×
Gross margin49.5%48.9%59.0%72.9%89.1%143.4%91.3%95.6%
Operating margin33.7%35.3%37.6%48.9%54.3%67.1%51.4%61.5%
Net margin24.3%25.0%26.6%34.9%38.4%43.1%36.8%38.6%
Current ratio19.59×0.08×0.13×0.05×0.07×0.07×0.04×0.05×
Debt / equity0.05×0.11×0.12×0.29×0.03×0.06×0.64×1.27×
Interest coverage0.68×0.73×0.92×3.58×5×2.46×1.52×2.48×
Dividend yield0.4%0.5%0.6%0.6%0.5%0.7%0.5%0.6%
Payout ratio3.4%3.0%3.5%4.1%4.2%5.6%6.5%6.3%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity12.5%15.1%14.4%13.5%14.4%11.7%10.7%11.5%
Return on invested capital1.2%8.5%8.1%4.3%6.8%5.9%4.5%3.2%
Return on assets1.2%1.4%1.2%1.2%1.2%1.0%1.0%1.1%
Free cash flow yield11.8%13.4%20.8%17.8%13.3%18.9%9.2%10.2%
Earnings yield10.7%16.1%18.0%13.4%11.1%13.2%8.3%8.9%
Enterprise value$189.1M$359.1M-$161.7M$311.1M$251.1M$62.6M$390.9M$467.7M
Net debt / EBITDA-4.74×-0.41×-2.78×-0.5×-2.16×-3.72×2.33×5.49×
Cash conversion cycle (days)3014-122165600