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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
-170.7%
-$56.01
vs $79.23 price
Levered DCF
$112.56
After debt service
Piotroski score
8 / 9
Strong
Altman Z-score
3.11
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/E57.76×-55.57×-19.51×-3.84×-45.7×-403.16×-263.55×-249.82×
P/B-4.23×-5.85×-6.41×-6.98×50.7×107.63×18.8×20.64×
P/S0.99×1.34×1.46×1.7×10.78×28.39×15.53×9.73×
EV / EBITDA11.31×19.28×40.59×-7.67×-99.81×803.86×9,783.35×477.33×
Gross margin71.2%70.6%69.8%67.7%71.9%72.7%74.4%76.7%
Operating margin5.0%0.1%-9.0%-32.7%-18.9%-9.6%-5.1%-2.4%
Net margin1.7%-2.4%-7.5%-44.2%-23.6%-7.0%-5.9%-3.9%
Current ratio0.49×1.16×1.34×1.22×1.24×2.11×1.91×3.55×
Debt / equity-2.52×-2.87×-3.16×-3.47×4.27×4.68×0.58×1.15×
Interest coverage2.09×0.04×-5.52×-135.11×-4.69×-2.3×-2.23×-1.02×
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-7.4%10.6%32.9%182.1%-111.0%-26.6%-7.2%-8.3%
Return on invested capital11.0%0.2%-14.7%-45.1%-14.6%-6.3%-3.6%-2.4%
Return on assets2.9%-3.3%-8.5%-42.4%-14.6%-3.8%-3.7%-2.9%
Free cash flow yield23.6%12.4%10.1%3.0%-1.4%-0.4%-0.5%0.2%
Earnings yield1.7%-1.8%-5.1%-26.1%-2.2%-0.2%-0.4%-0.4%
Enterprise value$3.8B$4.6B$4.6B$4.8B$18.4B$34.4B$14.1B$6.4B
Net debt / EBITDA3.98×5.65×12.1×-2.26×-6.42×19.18×59.67×-15.01×
Cash conversion cycle (days)424832221-6-128