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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
-143.7%
-$21.31
vs $48.75 price
Levered DCF
$47.71
After debt service
Piotroski score
4 / 9
Average
Altman Z-score
2.4
Grey zone
Rating
C-
Overall 1 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-29.03×-51.66×-49.22×-21×-43.95×-54.54×-29.77×-53.42×
P/B7.08×10.89×10.09×5.21×8.61×54.69×25.14×12.24×
P/S6.79×9×9.9×5.52×13.17×17.58×9.25×5.68×
EV / EBITDA-44.28×-86.98×-71.2×-31.26×-57.82×-84.01×-38.46×-62.41×
Gross margin79.1%83.0%85.6%85.3%84.8%84.9%86.2%89.8%
Operating margin-23.5%-19.4%-26.3%-24.8%-27.6%-26.8%-29.9%-10.8%
Net margin-20.7%-17.4%-20.2%-26.3%-30.0%-32.1%-31.0%-10.6%
Current ratio1.97×1.19×2.43×3.87×4.44×2.22×1.28×1.72×
Debt / equity0.96×1.66×0.64×0.63×0.51×2.9×0.61×0×
Interest coverage-11.36×-12.87×-28.19×-16.1×-9.3×-14.83×-370.67×-149.41×
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 equity-21.6%-21.0%-20.6%-24.8%-19.6%-99.9%-84.2%-22.8%
Return on invested capital-12.9%-8.8%-16.3%-14.2%-11.9%-21.0%-47.9%-21.0%
Return on assets-7.2%-5.8%-9.1%-11.9%-10.5%-16.9%-24.7%-10.0%
Free cash flow yield3.2%2.2%1.1%0.0%-0.1%-0.3%-1.5%0.9%
Earnings yield-3.1%-1.9%-2.0%-4.8%-2.3%-1.8%-3.4%-1.9%
Enterprise value$4.6B$5.5B$5B$2.6B$4.6B$5.2B$2.3B$1.5B
Net debt / EBITDA-3.55×-8.95×-1.15×0.63×6.28×-0.63×0.2×2.05×
Cash conversion cycle (days)15314013295801129980