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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
-31.2%
$37.42
vs $54.36 price
Levered DCF
$33.84
After debt service
Piotroski score
9 / 9
Strong
Altman Z-score
3.64
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/E12.78×32.71×8.43×5.22×10.81×-2.27×-0.7×-1.35×
P/B1.94×2.2×1.92×2.1×2.08×0.99×0.51×0.58×
P/S2.8×3.69×2.84×1.13×1.21×0.91×0.46×0.71×
EV / EBITDA7.47×13.98×5.59×4.13×7.13×-66.83×-11.76×-6.81×
Gross margin34.1%24.5%30.6%60.5%44.7%1.0%12.3%27.0%
Operating margin27.9%15.1%22.2%56.1%38.4%-11.2%3.9%19.6%
Net margin22.0%11.3%34.3%22.2%11.5%-40.0%-66.0%-52.4%
Current ratio0.67×0.57×1.49×0.53×0.64×0.41×0.76×0.8×
Debt / equity0.32×0.46×0.48×0.68×1.42×1.93×1.38×0.95×
Interest coverage7.97×2.98×4.54×18.12×6.05×-1.03×0.52×3.12×
Dividend yield1.0%0.9%1.1%0.6%0.0%0.0%1.7%0.8%
Payout ratio13.0%29.1%8.9%3.3%0.0%0.0%-1.2%-1.1%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity15.2%6.8%23.1%41.1%19.7%-43.5%-73.1%-43.0%
Return on invested capital9.7%5.2%6.7%39.7%21.1%-3.5%1.3%7.2%
Return on assets8.9%3.6%12.1%16.3%5.5%-11.6%-26.0%-18.0%
Free cash flow yield7.0%3.6%5.2%22.9%8.7%-10.1%-5.4%-1.3%
Earnings yield7.8%3.1%12.1%19.6%9.5%-44.0%-142.7%-74.2%
Enterprise value$9.8B$10.2B$8.8B$8B$7.1B$4.8B$4.4B$6.2B
Net debt / EBITDA1.05×2.08×1.01×1.01×2.77×-44.17×-8.58×-4.22×
Cash conversion cycle (days)132018-118241323