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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
+64.8%
$26.77
vs $16.24 price
Levered DCF
$23.96
After debt service
Piotroski score
7 / 9
Strong
Altman Z-score
14.03
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/E38.3×33.1×34.74×42.33×29.61×63.64×43×61.23×
P/B6.36×7.09×6.87×6.67×6.44×6.92×3.58×4.59×
P/S2.38×2.73×2.96×3.35×4.03×4.3×2.06×2.77×
EV / EBITDA19.93×19.54×20.11×22.87×19.57×30.28×16.95×25.05×
Gross margin38.2%41.0%41.9%42.1%44.4%44.5%43.7%43.5%
Operating margin4.8%8.6%10.7%10.7%10.5%8.4%7.5%4.9%
Net margin6.2%8.2%8.6%8.0%13.5%6.9%6.5%4.5%
Current ratio2.03×1.74×2.09×2.6×2.9×2.39×2.14×2.57×
Debt / equity0.15×0.26×0.26×0.25×0.26×0.37×0.32×0.04×
Interest coverage402×551.75×539.4×884×383.83×129.77×155.2×180.8×
Dividend yield0.0%0.0%0.0%0.0%1.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%30.9%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity16.5%21.3%19.9%16.0%21.5%11.1%11.3%7.4%
Return on invested capital8.1%12.6%13.9%12.0%10.9%7.4%6.8%4.7%
Return on assets11.9%13.9%13.2%10.9%15.0%7.1%7.4%5.5%
Free cash flow yield2.5%3.7%3.6%2.9%3.2%2.3%5.9%1.6%
Earnings yield2.6%3.0%2.9%2.4%3.3%1.6%3.1%1.6%
Enterprise value$57.4M$70.9M$74.5M$82M$86.6M$86.5M$43.9M$48.4M
Net debt / EBITDA-0.61×0.15×0.04×-0.34×-0.42×0.08×0.45×-0.54×
Cash conversion cycle (days)3339443846241226