Ratios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | — | — | — | — | — | — | — |
| Enterprise value | — | — | — | — | — | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | — | — | — | — | — | — |
| Free cash flow yield | — | — | — | — | — | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +56.05% | +55.93% | +53.42% | +53.73% | +52.01% | +51.73% | +53.25% | +53.92% | +53.86% |
| Operating margin | +17.12% | +17.22% | +12.65% | +10.48% | +10.47% | +10.92% | +10.87% | +11.14% | +11.49% |
| EBITDA margin | +191.21% | -160.19% | -24.51% | -83.46% | +18.42% | +11.06% | +11.39% | +11.25% | +11.53% |
| EBIT margin | +186.50% | -166.51% | -29.97% | -89.37% | +10.47% | -36.96% | -36.54% | -36.24% | -36.41% |
| Pre-tax margin | +186.45% | -167.87% | -31.82% | -91.27% | +38.54% | -27.47% | -27.51% | -28.51% | -27.45% |
| Net margin | +145.57% | -129.45% | -23.86% | -71.86% | +29.42% | -21.47% | -21.72% | -21.60% | -22.56% |
| Cost structure | |||||||||
| Cost of revenue / sales | +43.95% | +44.07% | +46.58% | +46.27% | +47.99% | +46.83% | +46.97% | +47.81% | +48.11% |
| R&D intensity | +8.92% | +9.17% | +9.26% | +11.53% | +9.95% | +10.36% | +10.25% | +10.24% | +10.51% |
| SG&A intensity | +30.01% | +29.54% | +31.51% | +31.72% | +31.74% | +31.93% | +31.41% | +31.19% | +32.53% |
| Effective tax rate | +21.93% | — | — | — | +23.67% | — | — | — | — |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +31.09% | -37.73% | -7.29% | -28.07% | +10.20% | -7.35% | -7.66% | -7.40% | -7.67% |
| Return on assets (ROA) | +23.90% | -26.87% | -5.18% | -19.69% | +7.18% | -5.30% | -5.24% | -5.10% | -5.53% |
| Return on capital (ROC) | +3.60% | +4.39% | +3.33% | +3.39% | +3.01% | +3.14% | +3.20% | +3.20% | +3.30% |
| Return on invested capital (ROIC) | +30.59% | +3.29% | +2.50% | +2.54% | +8.46% | +2.35% | +2.40% | +2.40% | +2.48% |
| Asset turnover | +16.42% | +20.75% | +21.72% | +27.41% | +24.42% | +24.68% | +24.14% | +23.64% | +24.53% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +145.57% | -129.45% | -23.86% | -71.86% | +29.42% | -21.47% | -21.72% | -21.60% | -22.56% |
| Asset turnover (× revenue / assets) | +16.42% | +20.75% | +21.72% | +27.41% | +24.42% | +24.68% | +24.14% | +23.64% | +24.53% |
| Equity multiplier (× assets / equity) | +130.06% | +140.42% | +140.70% | +142.54% | +141.90% | +138.68% | +146.18% | +144.94% | +138.60% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 0.16 | 0.21 | 0.22 | 0.27 | 0.24 | 0.25 | 0.24 | 0.24 | 0.25 |
| Fixed-asset turnover | 4.08 | 4.12 | 3.69 | 3.73 | 3.64 | — | — | — | — |
| Inventory turnover | 2.24 | 1.72 | 1.59 | 1.56 | 1.67 | — | — | — | — |
| Receivables turnover | 6.90 | 5.67 | 5.46 | 5.67 | 5.47 | — | — | — | — |
| Payables turnover | 9.05 | 9.14 | 8.61 | 9.71 | 9.61 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 52.90 | 64.43 | 66.82 | 64.35 | 66.76 | — | — | — | — |
| Days inventory outstanding (DIO) | 162.61 | 212.61 | 228.95 | 233.58 | 218.10 | — | — | — | — |
| Days payables outstanding (DPO) | 40.34 | 39.91 | 42.42 | 37.59 | 37.98 | — | — | — | — |
| Cash conversion cycle | 175.17 | 237.12 | 253.35 | 260.35 | 246.88 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 0.16 | -0.05 | -0.59 | -0.25 | 0.70 | -0.81 | -0.80 | -0.81 | -0.77 |
| FCF / Net income | 0.13 | -0.02 | -0.34 | -0.14 | 0.49 | -0.53 | -0.51 | -0.51 | -0.48 |
| FCF margin | +18.33% | +2.87% | +8.17% | +10.37% | +14.50% | +11.32% | +11.15% | +10.96% | +10.78% |
| OCF margin | +22.91% | +6.94% | +14.04% | +17.74% | +20.60% | +17.50% | +17.47% | +17.52% | +17.29% |
| CapEx / Revenue | +4.58% | +4.07% | +5.87% | +7.36% | +6.10% | +6.29% | +6.34% | +6.57% | +6.47% |
| CapEx / D&A | 0.97 | 0.83 | 1.07 | 1.25 | 0.77 | — | — | — | — |
| Stock-based comp / Revenue | +1.75% | +2.17% | +2.29% | +2.43% | 0.00% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 140.83 | -121.79 | -21.82 | -65.36 | 27.87 | 9.04 | 9.96 | 11.15 | 12.17 |
| EPS · basic | 142.61 | -121.79 | -21.82 | -65.36 | 27.87 | 9.16 | 9.83 | 11.23 | 12.25 |
| Book value / share | 453.03 | 322.82 | 299.26 | 232.84 | 273.22 | 278.16 | 274.29 | 293.30 | 303.39 |
| Tangible BV / share | 433.13 | 298.02 | 274.13 | 207.88 | 245.57 | 278.16 | 274.29 | 293.30 | 303.39 |
| Sales / share | 96.75 | 94.08 | 91.45 | 90.97 | 94.69 | 95.21 | 96.80 | 100.48 | 103.14 |
| Operating CF / share | 22.16 | 6.53 | 12.84 | 16.13 | 19.51 | 16.66 | 16.91 | 17.60 | 17.84 |
| Free cash flow / share | 17.73 | 2.70 | 7.47 | 9.44 | 13.73 | 10.78 | 10.79 | 11.01 | 11.12 |
| Dividends / share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Payout ratio | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Retention ratio | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | -4.12% | -4.67% | -3.92% | +0.65% | -0.28% | +3.28% | +3.69% | +1.75% | -0.50% |
| Gross profit · YoY | — | -4.32% | -8.96% | -3.37% | -2.56% | -0.81% | +6.30% | +5.01% | +1.63% | -1.00% |
| Profit | ||||||||||
| Operating income · YoY | — | -3.54% | -30.01% | -20.37% | +0.56% | +4.00% | +2.80% | +6.31% | +4.95% | -5.34% |
| EBITDA · YoY | — | -180.33% | +85.41% | -227.12% | +122.22% | -40.11% | +6.33% | +2.44% | +4.28% | -29.96% |
| Net income · YoY | — | -185.27% | +82.43% | -189.37% | +141.20% | -172.79% | -4.47% | -3.12% | -6.29% | — |
| Operating | ||||||||||
| EBIT · YoY | — | -185.61% | +82.84% | -186.46% | +111.79% | -452.02% | -2.10% | -2.84% | -2.23% | — |
| R&D · YoY | — | -1.44% | -3.68% | +19.59% | -13.18% | +3.91% | +2.20% | +3.50% | +4.48% | +1.56% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -186.48% | +82.08% | -199.54% | +142.64% | -67.56% | +10.21% | +11.86% | +9.18% | -26.37% |
| EPS · basic · YoY | — | -185.40% | +82.08% | -199.54% | +142.64% | -67.13% | +7.31% | +14.24% | +9.09% | -26.42% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $223.38M | $1.39B | $1.41B | $1.37B | $1.53B | $1.45B | $1.5B | $1.54B | $1.52B |
| Net debt | -$247.41M | $953.88M | $1B | $886.6M | $999.2M | $966.35M | $1.02B | $1.05B | $1.01B |
| Net debt / EBITDA | -0.04 | -0.21 | -1.53 | -0.41 | 2.10 | 3.39 | 3.38 | 3.38 | 3.13 |
| Debt / equity | 0.02 | 0.14 | 0.16 | 0.21 | 0.21 | 0.19 | 0.20 | 0.19 | 0.18 |
| Debt / assets | +1.25% | +10.28% | +11.43% | +14.68% | +14.48% | +13.85% | +13.60% | +13.20% | +13.25% |
| Equity / assets | +76.89% | +71.22% | +71.07% | +70.15% | +70.47% | +72.11% | +68.41% | +69.00% | +72.15% |
| Coverage | |||||||||
| EBITDA / interest expense | 3602.97 | -117.78 | -13.24 | -43.80 | 9.71 | 5.72 | 6.16 | 5.83 | 6.04 |
| Operating income / interest | 322.59 | 12.66 | 6.83 | 5.50 | 5.52 | 5.64 | 5.88 | 5.77 | 6.02 |
| Interest expense | $1.55M | $38.11M | $49.44M | $48.9M | $49M | $49.86M | $49.21M | $53.26M | $53.62M |
| Liquidity | |||||||||
| Current ratio | 2.92 | 5.55 | 5.83 | 6.48 | 5.62 | — | — | — | — |
| Quick ratio | 1.90 | 4.02 | 4.01 | 4.53 | 3.90 | — | — | — | — |
| Cash ratio | 0.69 | 0.76 | 0.77 | 1.04 | 1.03 | — | — | — | — |
| Working capital | $1.31B | $2.59B | $2.53B | $2.56B | $2.39B | — | — | — | — |
| Working capital / revenue | +44.81% | +92.40% | +94.54% | +99.84% | +92.49% | — | — | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).