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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
-158.5%
-$12.74
vs $21.76 price
Levered DCF
-$13.52
After debt service
Piotroski score
2 / 9
Weak
Altman Z-score
45.24
Safe zone
Rating
C
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019
P/E-10.18×-2.6×-9.17×-5.89×-11.64×-7.06×-6.52×
P/B2.97×1.69×3.7×2.55×1.97×25.93×113.2×
P/S16.5×8.02×25.63×25.61×18.34×130.71×36.3×
EV / EBITDA-9.57×-2.39×-9.16×-5.8×-9.43×-19.12×-60.65×
Gross margin96.3%100.0%100.0%100.0%100.0%78.8%-30.9%
Operating margin-178.4%-346.1%-312.6%-446.8%-157.1%-681.8%-61.5%
Net margin-162.9%-309.7%-278.5%-435.1%-157.2%-678.8%-57.2%
Current ratio16.32×6.98×7.54×6.76×12.1×4.73×1.61×
Debt / equity0.1×0.18×0.15×0.16×0×0.2×1.08×
Interest coverage0×0×0×0×0×0×0×
Dividend yield0.0%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%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019
Return on equity-29.3%-65.3%-40.2%-43.4%-16.9%-134.6%-178.3%
Return on invested capital-29.3%-51.9%-31.8%-29.0%-12.6%-31.2%-49.6%
Return on assets-25.5%-41.2%-25.3%-24.8%-11.6%-25.1%-25.3%
Free cash flow yield-13.6%-39.2%-12.8%-18.3%-9.0%6.9%-3.0%
Earnings yield-9.9%-38.6%-10.9%-17.0%-8.6%-5.2%-1.6%
Enterprise value$950.5M$304.5M$908.8M$617.9M$538.2M$980.2M$880.5M
Net debt / EBITDA0.79×0.26×0.28×0.18×2.48×0.4×0.99×
Cash conversion cycle (days)-189002920-318-8