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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
-45.3%
$11.69
vs $21.37 price
Levered DCF
$7.39
After debt service
Piotroski score
6 / 9
Average
Altman Z-score
1.97
Grey zone
Rating
B
Overall 3 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E52.64×52.13×30.23×12.25×11.83×31.34×-302×22.08×
P/B1.81×2.11×2.49×2.14×2.87×2.87×2.75×1.82×
P/S2.47×2.88×3.32×2.26×3.03×3.33×3.44×2.21×
EV / EBITDA21.3×20.81×17.1×8.67×8.31×15.84×42.66×13.67×
Gross margin7.5%18.4%21.9%35.5%40.2%27.7%17.4%25.2%
Operating margin6.7%9.6%15.5%30.2%35.7%22.7%9.9%18.6%
Net margin4.7%5.6%10.9%18.5%25.6%10.6%-1.2%10.0%
Current ratio1.29×1.79×2.94×1.58×3.29×1.69×1.6×0.83×
Debt / equity0.59×0.53×0.5×0.47×0.48×0.63×0.78×0.73×
Interest coverage1.7×2.55×4.24×11.41×11.64×3.86×1.72×3.72×
Dividend yield3.5%3.3%4.8%7.0%2.9%1.5%4.5%6.0%
Payout ratio187.0%172.7%144.9%86.0%33.9%47.8%-1332.9%133.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity3.4%4.1%8.2%17.5%24.2%9.1%-0.9%8.3%
Return on invested capital2.9%4.0%6.5%15.1%17.1%8.9%1.5%7.8%
Return on assets2.0%2.4%4.9%10.8%14.8%4.9%-0.5%4.3%
Free cash flow yield0.5%1.7%3.0%9.0%8.3%3.3%2.6%4.2%
Earnings yield1.9%1.9%3.3%8.2%8.4%3.2%-0.3%4.5%
Enterprise value$22.2B$24.9B$29.4B$26.5B$34.1B$30.1B$28.8B$22.8B
Net debt / EBITDA4.9×3.69×2.29×1.14×0.79×2.64×9.29×3.78×
Cash conversion cycle (days)3538343133423434