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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
+15.3%
$44.52
vs $38.60 price
Levered DCF
$69.53
After debt service
Piotroski score
6 / 9
Average
Altman Z-score
12.17
Safe zone
Rating
A+
Overall 4 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E13.52×12.64×11.86×20.84×11.01×88×64.41×14.82×
P/B1.84×1.31×1.41×1.29×1.34×1.27×1.19×1.19×
P/S1.73×1.15×0.87×0.67×0.74×1.31×1.14×0.96×
EV / EBITDA9.07×4.89×4.22×7.34×3.6×13.94×11.09×8.15×
Gross margin14.4%14.2%11.8%5.7%12.6%5.2%2.5%6.2%
Operating margin9.4%10.0%8.3%3.0%8.9%0.5%-2.1%2.0%
Net margin12.8%9.1%7.3%3.2%6.8%0.8%1.8%6.5%
Current ratio5.94×8.64×6.82×6.83×6.84×8.42×8.58×14.73×
Debt / equity0.03×0.04×0.02×0.03×0.03×0.03×0.04×0×
Interest coverage0×0×0×0×0×0×0×0×
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 equity13.6%10.4%11.9%6.2%12.2%0.8%1.9%8.1%
Return on invested capital8.4%7.3%8.8%3.9%10.3%0.4%18.9%2.1%
Return on assets10.4%8.1%9.2%4.8%9.5%0.6%1.5%6.7%
Free cash flow yield4.4%-1.0%12.5%6.8%15.0%-0.4%1.4%7.9%
Earnings yield7.4%7.9%8.4%4.8%9.1%0.6%1.6%6.7%
Enterprise value$955.3M$560.6M$512.9M$519.3M$357.9M$353.5M$312.1M$280.9M
Net debt / EBITDA-1.59×-1.53×-1.73×-0.82×-2.2×-5.32×-5.83×-5.47×
Cash conversion cycle (days)91851921473223