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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
-47.9%
$11.72
vs $22.51 price
Levered DCF
$9.57
After debt service
Piotroski score
4 / 9
Average
Altman Z-score
6.32
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/E34.7×47.84×42.51×27.83×40.61×38.48×-204×75.56×
P/B4.2×5.41×3.14×4.3×12.82×10.87×8.04×28.92×
P/S1.76×2.1×1.13×1.48×4.56×3.75×1.75×4.63×
EV / EBITDA21.78×30.98×23.46×17.46×35.26×30.79×18.95×51.31×
Gross margin53.5%52.5%51.9%53.8%55.0%52.6%53.6%53.2%
Operating margin6.1%4.6%2.1%6.6%11.8%10.5%8.0%8.4%
Net margin5.0%4.4%2.6%5.3%11.2%9.8%5.9%6.2%
Current ratio2.81×2.86×2.79×2.86×2.75×2.62×1.96×1.69×
Debt / equity0.06×0.09×0.11×0.06×0.02×0×0×0×
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 equity12.0%11.3%7.3%15.5%31.5%28.4%27.3%38.4%
Return on invested capital10.1%8.1%3.9%13.9%31.0%28.9%27.8%39.0%
Return on assets8.1%7.4%4.6%10.1%20.8%18.6%15.4%18.9%
Free cash flow yield2.2%0.9%3.2%1.1%1.5%3.3%3.2%1.0%
Earnings yield2.9%2.1%2.3%3.6%2.5%2.6%3.4%1.3%
Enterprise value$1.9B$2.2B$1B$1.4B$3.9B$2B$986.5M$2.3B
Net debt / EBITDA-2.99×-3.1×-4.77×-2.58×-1.94×-2.22×-1.26×-0.37×
Cash conversion cycle (days)13112911512111084101132