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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
-162.8%
-$121.58
vs $193.60 price
Levered DCF
-$9.27
After debt service
Piotroski score
4 / 9
Average
Altman Z-score
3.5
Safe zone
Rating
D+
Overall 1 / 5
Ratios by fiscal year

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

MetricFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
P/E-121.91×-8.1×-6.82×-16.97×42.47×34.38×33.13×32.44×
P/B10.42×16.98×4.5×2.11×4.66×6.08×5.28×5.31×
P/S5.5×6.44×4.77×3.57×5.07×6×4.34×4.06×
EV / EBITDA30.62×-13.07×-15.71×37.31×21.78×21.35×17.47×19.78×
Gross margin57.2%54.4%41.9%42.7%56.2%54.5%50.1%42.9%
Operating margin-1.6%-13.1%-21.4%-21.5%13.5%18.7%13.8%7.7%
Net margin-4.5%-79.5%-70.0%-21.0%11.9%17.5%13.1%12.5%
Current ratio1.24×0.78×0.94×0.65×1.84×1.89×1.71×1.45×
Debt / equity0.84×1.92×0.62×0.39×0.07×0.06×0.07×0×
Interest coverage-0.67×-4.37×-8.14×-8×19.36×59.38×81.05×25.73×
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 equity-8.5%-209.5%-66.1%-12.4%11.0%17.7%15.9%16.4%
Return on invested capital-1.6%-10.9%-11.6%-7.2%9.5%14.3%12.8%9.0%
Return on assets-3.2%-48.8%-30.6%-7.1%6.4%9.8%8.2%7.9%
Free cash flow yield1.3%-0.6%-0.6%-1.1%0.6%4.2%4.7%7.2%
Earnings yield-0.8%-12.3%-14.7%-5.9%2.4%2.9%3.0%3.1%
Enterprise value$38B$38.9B$28.3B$21.7B$16.3B$19B$12.2B$10B
Net debt / EBITDA1.14×-0.89×-1.54×4.57×-1.98×-1.38×-1.69×-1.63×
Cash conversion cycle (days)1528294144595943