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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
-70.8%
$25.25
vs $86.32 price
Levered DCF
$159.31
After debt service
Piotroski score
7 / 9
Strong
Altman Z-score
2.3
Grey zone
Rating
C+
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-183.51×-110.61×-43.02×-48.82×-176.34×-91.62×-40.43×-31.21×
P/B-892.84×-145.41×-61.45×743.2×91.42×69.06×35.92×-160.8×
P/S5.49×8.21×8.72×8.27×15.05×12.62×6.54×6.41×
EV / EBITDA3,936.8×-256.24×-101.65×-62.95×-338.13×-146.1×-50.4×-34.08×
Gross margin78.5%76.7%75.5%75.9%76.6%74.4%71.5%73.0%
Operating margin-4.8%-10.4%-15.0%-16.5%-6.6%-10.8%-15.2%-20.4%
Net margin-3.0%-7.5%-20.2%-16.9%-8.5%-13.8%-15.9%-20.5%
Current ratio1.57×1.77×2.08×1.47×1.02×2.25×2.46×0.93×
Debt / equity-148.61×-19.03×-8.87×62.37×4.63×5.13×5.96×-1.89×
Interest coverage-3.32×-5.95×-1.76×-14.69×-2.09×-2.71×-7.53×-27.25×
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 equity481.4%132.0%142.7%-1520.1%-51.7%-75.3%-87.6%514.1%
Return on invested capital-5.1%-9.8%-12.8%-21.2%-6.3%-8.7%-11.0%-122.2%
Return on assets-1.8%-4.0%-10.5%-11.1%-4.8%-6.8%-7.4%-21.7%
Free cash flow yield2.8%1.4%1.2%0.2%0.7%0.7%1.4%0.3%
Earnings yield-0.5%-0.9%-2.3%-2.0%-0.6%-1.1%-2.4%-3.2%
Enterprise value$5.3B$6.6B$6B$4.6B$6.7B$4.4B$1.9B$1.5B
Net debt / EBITDA346.93×-19.22×-9.05×-1.83×-1.88×-0.22×1.56×1.34×
Cash conversion cycle (days)5762645952634669