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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
-306.1%
-$36.86
vs $17.89 price
Levered DCF
-$23.50
After debt service
Piotroski score
0 / 9
Weak
Altman Z-score
-0.28
Distress zone
Rating
D+
Overall 1 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-7.24×-4.74×-4.6×-5.57×53.25×-11.59×-5.23×-7.53×
P/B4.06×2.77×3.06×2.27×3.34×2.83×2.7×1.59×
P/S10.36×5.2×12.08×13.29×7.33×18.23×29.51×44.64×
EV / EBITDA-7.31×-4.65×-4.46×-5.44×47.13×-10.56×-4.74×-5.89×
Gross margin96.0%100.0%100.0%100.0%100.0%100.0%100.0%100.0%
Operating margin-156.3%-127.9%-290.6%-250.0%14.1%-159.0%-591.4%-656.8%
Net margin-142.9%-109.7%-262.4%-238.4%13.8%-157.7%-564.7%-593.7%
Current ratio4.36×4.5×4.52×5.52×7.6×6.05×8.49×15.29×
Debt / equity0.18×0.12×0.02×0.18×0.14×0.04×0×0×
Interest coverage-48.25×-82.5×-170×-140×0×0×0×0×
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-55.9%-58.4%-66.5%-40.6%6.3%-24.5%-51.7%-21.1%
Return on invested capital-41.9%-35.3%-36.9%-24.2%3.6%-19.0%-49.2%-21.3%
Return on assets-31.0%-24.6%-28.0%-19.9%3.3%-15.9%-41.7%-18.0%
Free cash flow yield-18.9%-13.1%-23.3%29.0%-10.1%7.6%-17.0%-12.5%
Earnings yield-13.8%-21.1%-21.7%-17.9%1.9%-8.6%-19.1%-13.3%
Enterprise value$2.4B$1.3B$1.3B$1.4B$2.8B$1.3B$384.7M$301.8M
Net debt / EBITDA0.33×0.33×0.4×0.33×-0.44×1.29×0.71×1.39×
Cash conversion cycle (days)-1,50935131140712834