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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
-1438.5%
-$422.69
vs $31.58 price
Levered DCF
-$372.75
After debt service
Piotroski score
3 / 9
Weak
Altman Z-score
3.55
Safe zone
Rating
A-
Overall 4 / 5
Ratios by fiscal year

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

MetricFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
P/E8.04×27.69×45.89×11.49×3.34×16×16.71×13.79×
P/B1.22×4.62×8.9×7.03×1.5×1.64×1.36×1.02×
P/S0.45×1.32×3.22×1.95×0.41×0.51×0.43×0.28×
EV / EBITDA6.13×21.59×38.31×17.14×6.63×11.3×11.18×6.14×
Gross margin10.8%11.1%13.8%18.0%15.4%15.0%15.8%14.2%
Operating margin7.1%5.7%8.1%10.7%6.5%3.5%2.6%2.8%
Net margin5.7%4.8%7.7%9.0%5.5%3.1%2.5%2.1%
Current ratio3.87×5.25×3.81×2.31×1.91×1.93×2.25×2.35×
Debt / equity0.6×0.76×0.4×0.15×0.44×0.11×0.05×0.03×
Interest coverage14.24×21.03×62.57×72.55×52.26×49.88×38.31×14.53×
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 equity15.4%16.6%21.3%32.5%20.0%10.2%7.9%7.6%
Return on invested capital8.9%9.3%14.5%26.3%12.9%8.7%6.7%7.3%
Return on assets7.4%7.5%11.7%17.4%8.9%5.0%4.4%4.3%
Free cash flow yield-39.5%5.3%-5.4%4.5%-22.7%3.6%-5.2%24.7%
Earnings yield12.6%3.6%2.4%4.6%13.3%6.2%5.8%7.5%
Enterprise value$18.8B$28.7B$48.7B$13.7B$2.5B$1.7B$1.3B$738.9M
Net debt / EBITDA0.39×-0.29×0.4×-0.19×0.94×-0.76×-1.36×-1.86×
Cash conversion cycle (days)16910014810213411011187