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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
-143.5%
-$32.32
vs $74.21 price
Levered DCF
-$19.87
After debt service
Piotroski score
4 / 9
Average
Altman Z-score
1.9
Grey 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-285.4×1,828.27×725.89×99.11×64.06×-67.48×43.19×15.18×
P/B4.92×5.65×3.51×3.18×6.91×6.01×6.65×3.85×
P/S2.63×2.79×1.37×0.74×1.2×0.93×0.87×0.5×
EV / EBITDA25.42×23.19×11.47×8.78×10.22×10.41×9.83×10.7×
Gross margin4.5%13.6%13.7%11.6%14.6%9.9%13.4%11.0%
Operating margin4.5%5.7%6.1%3.2%6.3%3.3%6.1%3.2%
Net margin-0.9%0.2%0.2%0.7%1.9%-1.4%1.3%3.3%
Current ratio1.76×2.12×1.32×0.79×0.87×0.68×0.74×0.87×
Debt / equity1.71×1.92×2.36×4.55×6.11×7.15×8.21×5.29×
Interest coverage1.3×1.31×1.53×0.91×1.69×0.78×1.45×0.71×
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-1.7%0.3%0.5%3.2%10.8%-9.0%9.7%25.4%
Return on invested capital1.5%3.1%3.3%1.8%3.5%2.4%3.7%3.3%
Return on assets-0.5%0.1%0.1%0.4%1.2%-0.8%0.9%2.9%
Free cash flow yield1.6%0.9%2.0%-9.7%-4.5%10.9%0.3%-5.8%
Earnings yield-0.3%0.1%0.1%1.0%1.6%-1.5%1.5%6.6%
Enterprise value$6.5B$6.1B$3.4B$2.4B$2.8B$2.1B$2.2B$1.2B
Net debt / EBITDA4.3×3.77×3.92×4.97×4.54×5.42×5.35×6.15×
Cash conversion cycle (days)923111811202728