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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
+97.1%
$39.86
vs $20.22 price
Levered DCF
$46.80
After debt service
Piotroski score
4 / 9
Average
Altman Z-score
6.62
Safe zone
Rating
B-
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-44.82×-18.69×-18.58×-7.6×-12.99×-19.93×-12.5×-18.99×
P/B4.83×3.48×4.76×4.73×5.48×5.13×8.43×3.68×
P/S4.27×3.48×5.81×4.37×8.17×11.84×7.89×6×
EV / EBITDA-74.9×-25.28×-23.58×-8.8×-13.99×-23.44×-17.13×-29.77×
Gross margin79.6%79.0%78.8%85.2%88.4%87.9%89.9%91.3%
Operating margin-11.1%-21.1%-33.8%-56.0%-57.3%-52.6%-53.5%-21.6%
Net margin-9.4%-18.5%-31.2%-57.6%-62.8%-59.5%-57.1%-31.5%
Current ratio8.55×7.66×9.01×6.5×10.41×16.2×5.94×15.11×
Debt / equity0.01×0.22×0.23×0.4×0.3×0.23×0.62×0.43×
Interest coverage-4.23×-10.25×-13.56×-21.15×-9.63×-6.32×-7.27×-2.34×
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-10.7%-18.5%-25.6%-62.3%-42.1%-25.8%-60.9%-19.4%
Return on invested capital-10.4%-17.2%-22.5%-43.3%-29.5%-18.4%-35.1%-9.2%
Return on assets-7.9%-13.4%-18.8%-38.9%-29.7%-19.6%-32.8%-12.6%
Free cash flow yield-1.1%-3.9%-3.3%-11.0%-6.2%-3.8%-6.4%-4.7%
Earnings yield-2.2%-5.3%-5.4%-13.2%-7.7%-5.0%-7.2%-5.3%
Enterprise value$816.9M$583.9M$812.3M$483.9M$713.2M$854.7M$560M$346M
Net debt / EBITDA3.77×-0.11×-0.17×-0.34×0.45×0.39×-0.88×-1.19×
Cash conversion cycle (days)315274252327348165206146