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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
-415.4%
-$17.51
vs $5.55 price
Levered DCF
$0.88
After debt service
Piotroski score
5 / 9
Average
Altman Z-score
-0.57
Distress zone
Rating
C
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-29.89×-25.64×-20.65×-10.06×-151.71×-77.03×-21.77×-5.68×
P/B6.05×7.29×11.31×5.58×19.34×31.28×9.94×3.1×
P/S2.33×3.33×5.93×3.13×17.81×29.08×13.09×6.07×
EV / EBITDA-105.58×-42.77×-27.05×-14.57×-219.1×-100.17×-25.17×-5.85×
Gross margin55.0%53.9%54.1%60.6%57.5%52.8%47.8%32.3%
Operating margin-9.0%-14.7%-30.4%-30.3%-17.1%-34.4%-64.3%-107.5%
Net margin-7.8%-13.0%-28.7%-31.1%-11.9%-37.7%-60.3%-106.4%
Current ratio3.56×3.95×4.39×4.32×5.7×5×5.29×5.73×
Debt / equity2.06×1.73×1.8×1.62×0.69×0.86×0.55×0×
Interest coverage-5.98×-36.53×-63.49×-65.02×-39.72×-8.87×-44.14×-325.74×
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-20.2%-28.5%-54.8%-55.4%-12.9%-40.6%-45.7%-54.3%
Return on invested capital-8.2%-11.7%-20.3%-20.3%-10.4%-19.6%-31.0%-52.4%
Return on assets-6.0%-8.8%-16.6%-17.8%-6.5%-18.8%-25.8%-46.3%
Free cash flow yield3.2%1.2%0.1%0.4%0.3%-0.3%-1.5%-11.3%
Earnings yield-3.3%-3.9%-4.8%-9.9%-0.7%-1.3%-4.6%-17.5%
Enterprise value$17.5B$21.1B$29.9B$17.1B$74B$74.3B$23.2B$6.8B
Net debt / EBITDA-22.18×-6.49×-2.32×-2.34×-1.89×-1.96×-0.78×0.33×
Cash conversion cycle (days)5466535769868696