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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
-12.3%
$59.09
vs $67.40 price
Levered DCF
$37.09
After debt service
Piotroski score
3 / 9
Weak
Altman Z-score
3
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/E-5.07×-1,166.44×-42.58×3.43×3.53×9.24×-26.27×6.15×
P/B0.83×1.01×0.99×0.89×1.07×1.79×2.07×1.72×
P/S0.87×1.13×1.1×0.7×0.99×1.01×0.79×1.11×
EV / EBITDA-7.9×10.73×20.11×1.92×2×5.56×73.68×5.37×
Gross margin-0.6%29.8%27.4%47.0%55.8%34.1%18.7%40.9%
Operating margin-8.7%0.1%-4.4%26.4%37.5%19.0%0.8%17.5%
Net margin-17.2%-0.1%-2.6%20.4%28.0%14.0%-2.3%13.2%
Current ratio2.13×1.97×2.26×3.47×2.67×2.53×1.37×2.26×
Debt / equity0.06×0.03×0.07×0.07×0.07×0.21×0.42×0.19×
Interest coverage-25×0.27×-11.62×111.02×82.92×31.33×1.24×31.62×
Dividend yield2.1%1.4%1.4%1.5%0.7%0.7%1.1%0.5%
Payout ratio-10.6%-2020.0%-59.9%5.0%2.5%5.3%-36.7%4.6%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity-16.3%-0.1%-2.3%25.9%30.2%24.7%-6.0%20.5%
Return on invested capital-5.6%-0.0%-2.4%21.2%25.4%16.9%1.0%17.8%
Return on assets-12.5%-0.1%-1.8%19.8%22.2%14.6%-3.2%16.9%
Free cash flow yield-6.5%2.5%0.7%25.5%28.1%14.0%-5.7%7.9%
Earnings yield-19.7%-0.1%-2.3%29.1%28.3%13.8%-2.9%11.9%
Enterprise value$5B$6.6B$6.8B$6.2B$9.1B$5.7B$4.7B$5.4B
Net debt / EBITDA-0.21×-0.67×-1.08×-0.2×-0.29×0.07×12.34×0.39×
Cash conversion cycle (days)37565761898671104