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 | +100.03% | +81.55% | +51.40% | +45.98% | +48.94% | +47.81% | +49.61% | +49.15% | +49.47% |
| Operating margin | +29.31% | +17.58% | +12.67% | +14.79% | +17.45% | +15.01% | +14.74% | +14.97% | +14.58% |
| EBITDA margin | +41.08% | +26.56% | +18.26% | +19.34% | +22.03% | +19.30% | +20.41% | +20.04% | +19.89% |
| EBIT margin | +29.31% | +17.58% | +12.67% | +14.79% | +17.45% | +14.72% | +14.87% | +15.06% | +15.32% |
| Pre-tax margin | +29.31% | +17.58% | +12.67% | +14.79% | +17.45% | +14.75% | +15.12% | +14.66% | +15.27% |
| Net margin | +23.70% | +12.91% | +9.77% | +11.45% | +13.72% | +11.71% | +11.71% | +11.74% | +11.68% |
| Cost structure | |||||||||
| Cost of revenue / sales | -0.03% | +18.45% | +48.60% | +54.02% | +51.06% | +50.81% | +50.04% | +51.20% | +51.62% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +39.96% | +34.34% | +20.21% | +17.42% | +17.17% | +18.16% | +17.92% | +17.78% | +18.11% |
| Effective tax rate | +18.87% | +26.93% | +22.86% | +22.32% | +20.90% | +21.97% | +21.53% | +22.73% | +21.47% |
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) | +8.66% | +6.26% | +8.07% | +10.85% | +12.38% | +10.63% | +10.60% | +10.61% | +10.40% |
| Return on assets (ROA) | +0.85% | +0.63% | +0.81% | +1.09% | +1.17% | +1.01% | +1.05% | +1.05% | +1.04% |
| Return on capital (ROC) | +5.69% | +4.14% | +4.91% | +6.71% | +8.97% | +6.66% | +6.73% | +6.70% | +6.59% |
| Return on invested capital (ROIC) | +4.60% | +3.04% | +3.79% | +5.19% | +7.05% | +5.20% | +5.35% | +5.25% | +5.28% |
| Asset turnover | +3.57% | +4.88% | +8.24% | +9.51% | +8.56% | +8.65% | +8.93% | +8.90% | +8.95% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +23.70% | +12.91% | +9.77% | +11.45% | +13.72% | +11.71% | +11.71% | +11.74% | +11.68% |
| Asset turnover (× revenue / assets) | +3.57% | +4.88% | +8.24% | +9.51% | +8.56% | +8.65% | +8.93% | +8.90% | +8.95% |
| Equity multiplier (× assets / equity) | +1024.26% | +993.35% | +1002.02% | +996.23% | +1054.05% | +1048.63% | +1013.14% | +1014.90% | +995.70% |
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 | 0.04 | 0.05 | 0.08 | 0.10 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 |
| Fixed-asset turnover | 4.62 | 6.08 | 10.68 | 12.11 | 11.29 | — | — | — | — |
| Inventory turnover | — | — | — | — | — | — | — | — | — |
| Receivables turnover | 2.69 | 2.86 | 3.94 | 5.59 | 0.49 | — | — | — | — |
| Payables turnover | -0.00 | 0.16 | 0.89 | 1.06 | 0.94 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 135.85 | 127.55 | 92.73 | 65.35 | 738.33 | — | — | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | -2294937.50 | 2341.58 | 408.85 | 342.93 | 386.60 | — | — | — | — |
| Cash conversion cycle | 2295073.35 | -2214.03 | -316.12 | -277.57 | 351.73 | — | — | — | — |
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 | 0.75 | 5.90 | 1.79 | 0.15 | 1.21 | 1.02 | 1.03 | 1.01 | 1.02 |
| FCF / Net income | 0.43 | 5.37 | 1.42 | -0.17 | 0.93 | 0.69 | 0.70 | 0.72 | 0.72 |
| FCF margin | +10.23% | +69.30% | +13.89% | -1.98% | +12.80% | +8.11% | +8.21% | +8.46% | +8.39% |
| OCF margin | +17.89% | +76.10% | +17.50% | +1.74% | +16.64% | +11.99% | +12.02% | +11.90% | +11.92% |
| CapEx / Revenue | +7.66% | +6.80% | +3.61% | +3.71% | +3.84% | +3.68% | +3.68% | +3.68% | +3.68% |
| CapEx / D&A | 0.65 | 0.82 | 0.65 | 0.81 | — | — | — | — | — |
| Stock-based comp / Revenue | +2.04% | +1.84% | 0.00% | 0.00% | 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 | 4.15 | 2.90 | 3.89 | 5.80 | 7.41 | 8.78 | 9.64 | 10.65 | 10.85 |
| EPS · basic | 4.17 | 2.91 | 3.91 | 5.84 | 7.46 | 8.84 | 9.68 | 10.62 | 11.02 |
| Book value / share | 50.67 | 50.14 | 51.92 | 55.83 | 63.58 | 33.43 | 35.21 | 36.39 | 38.50 |
| Tangible BV / share | 24.28 | 23.98 | 24.57 | 26.25 | 35.78 | 33.43 | 35.21 | 36.39 | 38.50 |
| Sales / share | 18.52 | 24.30 | 42.89 | 52.87 | 57.38 | 30.34 | 31.86 | 32.87 | 34.31 |
| Operating CF / share | 3.31 | 18.49 | 7.50 | 0.92 | 9.55 | 3.64 | 3.83 | 3.91 | 4.09 |
| Free cash flow / share | 1.90 | 16.84 | 5.96 | -1.05 | 7.35 | 2.46 | 2.62 | 2.78 | 2.88 |
| Dividends / share | 1.31 | 1.43 | 1.60 | 1.80 | 2.05 | 1.07 | 1.11 | 1.19 | 1.23 |
| Payout ratio | +29.95% | +45.58% | +38.22% | +29.76% | +26.08% | +30.03% | +29.86% | +30.76% | +30.64% |
| Retention ratio | +70.05% | +54.42% | +61.78% | +70.24% | +73.92% | +69.97% | +70.14% | +69.24% | +69.36% |
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 | — | +24.84% | +70.66% | +17.05% | +2.25% | -46.84% | +3.71% | +3.89% | +3.72% | +5.33% |
| Gross profit · YoY | — | +1.78% | +7.57% | +4.72% | +8.81% | -48.06% | +7.60% | +2.93% | +4.41% | -3.55% |
| Profit | ||||||||||
| Operating income · YoY | — | -25.13% | +23.07% | +36.54% | +20.69% | -54.27% | +1.79% | +5.56% | +0.96% | -3.48% |
| EBITDA · YoY | — | -19.29% | +17.34% | +24.00% | +16.46% | -53.44% | +9.70% | +1.97% | +2.97% | -3.80% |
| Net income · YoY | — | -32.00% | +29.19% | +37.19% | +22.49% | -54.63% | +3.69% | +4.19% | +3.13% | -3.59% |
| Operating | ||||||||||
| EBIT · YoY | — | -25.13% | +23.07% | +36.54% | +20.69% | -55.17% | +4.77% | +5.24% | +5.48% | -2.88% |
| R&D · YoY | — | — | — | — | — | — | — | — | — | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -30.12% | +34.14% | +49.10% | +27.76% | +18.47% | +9.77% | +10.52% | +1.87% | +12.76% |
| EPS · basic · YoY | — | -30.22% | +34.36% | +49.36% | +27.74% | +18.50% | +9.49% | +9.70% | +3.74% | +12.91% |
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 | $38.25B | $43.19B | $46.24B | $45.44B | $33.88B | $24.74B | $24.19B | $26.13B | $26.17B |
| Net debt | -$83.09B | -$64.17B | -$78.95B | -$56.49B | -$97.64B | -$44.22B | -$45.78B | -$48.76B | -$50.09B |
| Net debt / EBITDA | -12.75 | -12.20 | -12.80 | -7.38 | -10.96 | -10.66 | -10.06 | -10.51 | -10.48 |
| Debt / equity | 0.88 | 1.06 | 1.13 | 1.09 | 0.76 | 1.04 | 0.98 | 1.02 | 0.97 |
| Debt / assets | +8.61% | +10.64% | +11.28% | +10.92% | +7.17% | +9.96% | +9.69% | +10.04% | +9.75% |
| Equity / assets | +9.76% | +10.07% | +9.98% | +10.04% | +9.49% | +9.54% | +9.87% | +9.85% | +10.04% |
| Coverage | |||||||||
| EBITDA / interest expense | 28.70 | 1.45 | 0.38 | 0.36 | 0.43 | 0.38 | 0.41 | 0.38 | 0.39 |
| Operating income / interest | 20.48 | 0.96 | 0.26 | 0.27 | 0.34 | 0.29 | 0.29 | 0.29 | 0.29 |
| Interest expense | $227M | $3.61B | $16.3B | $21.3B | $20.68B | $10.94B | $11.22B | $12.15B | $12.23B |
| Liquidity | |||||||||
| Current ratio | 0.77 | 0.74 | 0.78 | 0.65 | 0.70 | — | — | — | — |
| Quick ratio | 0.76 | 0.73 | 0.78 | 0.64 | 0.70 | — | — | — | — |
| Cash ratio | 0.34 | 0.34 | 0.39 | 0.31 | 0.34 | — | — | — | — |
| Working capital | -$83.88B | -$82.42B | -$69.05B | -$115.5B | -$114.37B | — | — | — | — |
| Working capital / revenue | -528.87% | -416.26% | -204.34% | -292.01% | -282.81% | — | — | — | — |
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).