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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
+515.9%
$90.66
vs $14.72 price
Levered DCF
$60.53
After debt service
Piotroski score
6 / 9
Average
Altman Z-score
3.71
Safe zone
Rating
B-
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E33.52×16.22×16.1×14.78×17.51×13.09×17.69×21.96×
P/B0.68×1.28×2.08×2.36×5.16×3.67×5.06×7.09×
P/S0.39×0.8×1.12×1.03×1.72×1.43×1.68×2.33×
EV / EBITDA2.64×5.44×5.8×5.76×9.42×6.62×9.28×12.29×
Gross margin78.3%79.4%79.4%79.2%80.5%80.4%81.0%81.7%
Operating margin5.5%7.8%10.1%10.8%14.3%15.6%13.8%15.8%
Net margin1.2%4.9%6.9%6.9%9.8%11.0%9.5%10.6%
Current ratio2.24×2×3.52×2.65×2.26×2.52×2.41×2.64×
Debt / equity0.03×0.07×0.03×0.03×0.04×0.05×0.07×0×
Interest coverage60.41×236.03×355.23×560.49×2,985.82×348.11×2,215×5,232.03×
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 equity2.0%7.9%12.8%16.0%29.5%28.2%28.6%32.3%
Return on invested capital2.2%5.7%11.1%14.9%27.4%25.7%25.1%30.6%
Return on assets1.4%5.6%10.1%11.6%20.2%19.5%19.4%22.8%
Free cash flow yield2.4%7.5%5.4%9.1%5.3%9.0%6.2%5.1%
Earnings yield3.0%6.2%6.2%6.8%5.7%7.7%5.7%4.5%
Enterprise value$216.7M$537.8M$714.6M$749.7M$1.8B$1.3B$1.6B$2.6B
Net debt / EBITDA-1.76×-1.44×-2.58×-2.11×-1.15×-1.45×-1.24×-1.03×
Cash conversion cycle (days)155123102101136120105125