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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
-224.5%
-$27.51
vs $22.09 price
Levered DCF
-$35.39
After debt service
Piotroski score
3 / 9
Weak
Altman Z-score
-0.44
Distress zone
Rating
C-
Overall 1 / 5
Ratios by fiscal year

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

MetricFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
P/E-1.17×-0.89×-0.2×-0.1×-0.67×-6.55×-0.65×-0.42×
P/B0.4×0.24×-0.6×0.24×0.05×0.04×0.05×0.04×
P/S0.63×0.14×0.13×0.05×0.03×0.04×0.03×0.03×
EV / EBITDA-8.23×1.97×-36.39×-4.62×2.34×2.08×1.66×2.18×
Gross margin100.0%48.7%38.6%35.0%36.5%42.9%39.0%41.1%
Operating margin-49.8%1.0%-1.1%0.5%0.6%6.7%2.0%6.3%
Net margin-53.7%-15.4%-65.7%-52.1%-5.2%-0.6%-4.8%-7.7%
Current ratio0.31×0.27×0.37×0.44×0.44×0.7×0.87×0.84×
Debt / equity1.28×1.42×-11.08×5.42×1.61×1.25×1.26×1.22×
Interest coverage-10.99×0.3×-0.05×0.06×0.14×1.82×0.43×1.21×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%48.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%0.0%-20.2%
Key metrics by fiscal year
MetricFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Return on equity-34.4%-27.6%292.7%-256.2%-7.0%-0.7%-7.1%-9.7%
Return on invested capital-12.8%0.7%-0.3%0.3%0.3%3.1%1.1%3.1%
Return on assets-9.2%-9.7%-12.9%-27.1%-2.1%-0.2%-2.4%-3.4%
Free cash flow yield0.7%-34.0%-81.3%-252.5%-733.3%23.8%472.6%330.5%
Earnings yield-85.4%-112.8%-489.0%-1074.1%-150.0%-15.3%-154.4%-237.5%
Enterprise value$705.4M$1.3B$3.3B$4.1B$4B$3.1B$3.2B$3.5B
Net debt / EBITDA-5.98×1.68×-34.32×-4.42×2.27×2×1.6×2.1×
Cash conversion cycle (days)972-246-87-22-423238