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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
+297.0%
$38.59
vs $9.72 price
Levered DCF
$43.49
After debt service
Piotroski score
7 / 9
Strong
Altman Z-score
4.56
Safe zone
Rating
A+
Overall 4 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E22.78×10.16×42.49×-15.13×-77.64×-181.68×-71.13×-95.32×
P/B4.11×3.8×5.26×5.47×16.74×13.69×4.52×7.71×
P/S3.29×2.84×2.91×2.2×8.64×10.97×3.9×7.41×
EV / EBITDA15.96×20.29×37.22×-24.62×-118.14×-510.73×-247.09×-137.4×
Gross margin77.8%77.4%75.3%74.1%73.0%72.1%70.7%67.8%
Operating margin16.4%8.5%-1.6%-15.0%-10.8%-6.0%-6.2%-4.6%
Net margin14.7%28.0%6.8%-14.5%-11.2%-6.1%-5.5%-7.9%
Current ratio1.46×3.39×3.01×3.76×3.98×1.82×1.88×2.01×
Debt / equity0.6×0.64×0.97×2.34×2.25×0.12×0.16×0.1×
Interest coverage184.72×24.15×0×-20.66×-24.87×-28.8×-14.34×-5.75×
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 equity18.3%37.5%12.3%-36.1%-21.7%-7.6%-6.4%-8.2%
Return on invested capital9.7%6.9%-1.4%-11.0%-6.4%-6.6%-6.1%-4.3%
Return on assets8.9%17.8%4.5%-8.3%-5.2%-4.3%-3.7%-5.1%
Free cash flow yield9.4%6.4%1.8%0.2%0.1%0.2%-1.3%0.4%
Earnings yield4.5%9.9%2.3%-6.6%-1.3%-0.6%-1.4%-1.1%
Enterprise value$2.7B$2.2B$2.3B$1.8B$4.7B$4B$1.2B$1.8B
Net debt / EBITDA0.5×0.57×4.68×-6.14×-9.9×7.48×1.21×8.15×
Cash conversion cycle (days)-35923442135233423