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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
-115.7%
-$3.21
vs $20.51 price
Levered DCF
-$6.95
After debt service
Piotroski score
3 / 9
Weak
Altman Z-score
10
Safe zone
Rating
C+
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
P/E-30.17×-11.11×-3.11×-20.56×-33.33×-183.33×-230.13×539.22×
P/B1.29×-2.15×-5.63×-65.61×5.1×4.29×4.51×5.24×
P/S8.23×13.96×4.35×21.75×4.58×5.45×6.78×7.95×
EV / EBITDA-93.56×273.95×-71.7×-146.53×-54.26×86.75×-197.52×177.82×
Gross margin64.5%64.5%60.5%50.5%74.3%76.5%77.3%78.0%
Operating margin-28.7%-21.9%-47.6%-40.0%-13.4%0.2%-3.3%4.4%
Net margin-25.2%-36.7%-56.5%-60.1%-13.7%-2.9%-2.9%1.5%
Current ratio1.32×0.89×1.15×1.78×0.95×1.2×3.39×1.61×
Debt / equity0×-0.19×-2.93×-8.65×1.02×0.77×0.81×0×
Interest coverage-12.48×-1.01×-2.49×-2.9×-22.53×0.05×-3.67×0×
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
MetricFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Return on equity-3.9%5.7%73.1%181.4%-15.2%-2.3%-2.0%1.0%
Return on invested capital-3.7%-2.3%-3.6%-2.9%-13.2%0.1%-0.7%2.1%
Return on assets-3.6%-4.3%-5.2%-4.2%-5.3%-1.0%-0.9%0.7%
Free cash flow yield0.6%-1.0%-8.4%-2.7%-0.6%2.7%2.2%1.3%
Earnings yield-3.1%-2.6%-13.0%-2.8%-3.0%-0.5%-0.4%0.2%
Enterprise value$8.5B$12.9B$4.4B$13.2B$2B$1.8B$1.9B$1.9B
Net debt / EBITDA3.75×19.58×-22.31×-12.9×0.57×-7.09×9.83×-6.61×
Cash conversion cycle (days)13312912712710092117118