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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
-319.9%
-$37.80
vs $17.19 price
Levered DCF
-$155.24
After debt service
Piotroski score
6 / 9
Average
Altman Z-score
0.56
Distress zone
Rating
A+
Overall 4 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E5.14×5.15×6.18×5.99×12×9.72×5.58×11.48×
P/B0.62×0.68×0.78×0.69×1.02×1.07×0.95×1.03×
P/S0.76×0.85×0.97×0.72×1.24×1.48×1.25×1.09×
EV / EBITDA6.7×6.79×7.67×7.77×9.76×8.77×6.3×8.78×
Gross margin29.8%49.9%46.4%36.3%44.3%48.6%30.1%28.1%
Operating margin24.7%26.4%23.1%18.3%16.0%24.0%24.3%22.5%
Net margin14.7%16.5%15.7%12.0%10.4%15.3%22.4%9.5%
Current ratio0.65×0.67×0.77×0.66×0.82×0.71×0.78×0.67×
Debt / equity2.09×2×2.02×1.94×1.9×1.81×1.75×1.87×
Interest coverage2.2×2.61×2.27×3.18×2.11×0×2.83×0×
Dividend yield13.5%13.0%12.4%13.8%9.7%8.9%9.7%9.4%
Payout ratio69.5%67.1%76.3%82.5%116.0%86.1%54.1%108.2%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity12.1%13.3%12.6%11.6%8.5%11.0%17.1%9.0%
Return on invested capital4.2%4.3%3.9%3.5%2.8%3.8%3.4%4.1%
Return on assets2.8%3.0%2.9%2.6%1.9%2.5%4.0%1.9%
Free cash flow yield-16.1%0.9%-8.7%-10.8%-5.3%-3.7%-8.2%-5.6%
Earnings yield19.4%19.4%16.2%16.7%8.3%10.4%18.0%8.7%
Enterprise value$96B$87.9B$87.3B$78.3B$80.5B$80.1B$73.1B$71.2B
Net debt / EBITDA5.14×5.04×5.51×5.67×6.28×5.47×4.02×5.6×
Cash conversion cycle (days)4450623044495540