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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
+214.0%
$79.55
vs $25.34 price
Levered DCF
$165.24
After debt service
Piotroski score
6 / 9
Average
Altman Z-score
9.32
Safe zone
Rating
A
Overall 4 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2017
P/E41.82×-118.79×-29.88×-16.84×-32.22×-242.25×-115.36×-11.62×
P/B3.27×6.6×6.63×4×2.61×41.76×7.19×-17.31×
P/S1.74×3.48×3.72×2.94×2.73×28.67×6.59×1.04×
EV / EBITDA19.99×-451.24×-34.53×-15.53×-27.41×-277.84×-15.05×-18.1×
Gross margin57.1%59.2%56.4%50.0%48.3%47.1%42.1%4.4%
Operating margin5.0%-3.1%-12.1%-18.5%-8.7%-11.4%-40.0%-9.6%
Net margin4.2%-2.9%-12.5%-17.4%-8.5%-12.7%-40.6%-9.0%
Current ratio3.3×2.73×2.54×3.2×4.29×1.9×1.72×1.32×
Debt / equity0.25×0.02×0.27×0.02×0.01×0.49×0.46×-0.1×
Interest coverage10.73×-12.06×-48.55×-92.96×-31.63×-24.54×-31.47×-646.5×
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
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2017
Return on equity7.8%-5.6%-22.3%-23.7%-8.1%-18.5%-44.3%149.0%
Return on invested capital7.2%-5.7%-16.8%-24.7%-8.2%-11.0%-29.9%-33.4%
Return on assets4.7%-3.7%-11.4%-16.4%-6.2%-9.0%-19.3%-20.4%
Free cash flow yield10.4%4.0%-1.8%-5.8%-1.8%-1.6%0.1%-2.6%
Earnings yield2.4%-0.8%-3.4%-5.9%-3.1%-0.4%-6.2%-8.6%
Enterprise value$2.5B$4B$3.3B$1.6B$855.1M$7.3B$705.2M$1.4B
Net debt / EBITDA-2.56×39.28×1.87×2.78×12.73×3.81×2.76×0.22×
Cash conversion cycle (days)49501239952618436