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 | +2.93% | +3.19% | +2.96% | +2.96% | +3.16% | +3.07% | +3.10% | +3.09% | +2.96% |
| Operating margin | +1.25% | +1.15% | +0.93% | +1.03% | +1.14% | +1.01% | +1.03% | +1.06% | +1.02% |
| EBITDA margin | +1.36% | +1.30% | +1.30% | +1.14% | +1.16% | +1.23% | +1.23% | +1.21% | +1.20% |
| EBIT margin | +1.12% | +1.01% | +0.93% | +0.77% | +0.83% | +0.86% | +0.86% | +0.86% | +0.87% |
| Pre-tax margin | +1.04% | +0.91% | +0.82% | +0.68% | +0.70% | +0.72% | +0.73% | +0.72% | +0.75% |
| Net margin | +0.72% | +0.71% | +0.67% | +0.51% | +0.48% | +0.54% | +0.57% | +0.55% | +0.54% |
| Cost structure | |||||||||
| Cost of revenue / sales | +97.07% | +96.81% | +97.04% | +97.04% | +96.84% | +94.07% | +96.28% | +98.60% | +97.47% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +1.68% | +2.03% | +2.03% | +1.93% | +2.02% | +2.01% | +1.94% | +2.05% | +2.01% |
| Effective tax rate | +30.48% | +23.66% | +19.82% | +24.19% | +30.58% | +25.28% | +25.41% | +25.08% | +23.75% |
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) | +263.50% | +2383.54% | +261.94% | +191.82% | +88.96% | +157.91% | +156.16% | +154.44% | +152.25% |
| Return on assets (ROA) | +2.69% | +3.00% | +2.79% | +2.25% | +2.03% | +2.30% | +2.44% | +2.32% | +2.23% |
| Return on capital (ROC) | +28.65% | +35.92% | +32.69% | +40.86% | +29.19% | +32.64% | +33.30% | +33.88% | +32.27% |
| Return on invested capital (ROIC) | +16.49% | +22.18% | +23.32% | +20.29% | +12.44% | +17.50% | +18.39% | +17.57% | +17.11% |
| Asset turnover | +373.21% | +421.83% | +419.08% | +438.08% | +419.55% | +424.26% | +429.32% | +422.12% | +414.74% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +0.72% | +0.71% | +0.67% | +0.51% | +0.48% | +0.54% | +0.57% | +0.55% | +0.54% |
| Asset turnover (× revenue / assets) | +373.21% | +421.83% | +419.08% | +438.08% | +419.55% | +424.26% | +429.32% | +422.12% | +414.74% |
| Equity multiplier (× assets / equity) | +9811.21% | +79357.70% | +9389.16% | +8529.06% | +4383.88% | +6862.56% | +6403.35% | +6643.42% | +6815.00% |
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 | 3.73 | 4.22 | 4.19 | 4.38 | 4.20 | 4.24 | 4.29 | 4.22 | 4.15 |
| Fixed-asset turnover | 66.25 | 77.46 | 83.11 | 88.46 | 78.61 | — | — | — | — |
| Inventory turnover | 13.52 | 13.52 | 14.58 | 15.01 | 15.19 | — | — | — | — |
| Receivables turnover | 11.64 | 12.81 | 12.54 | 12.31 | 12.74 | — | — | — | — |
| Payables turnover | 5.46 | 5.75 | 5.55 | 5.60 | 5.69 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 31.37 | 28.49 | 29.11 | 29.64 | 28.65 | — | — | — | — |
| Days inventory outstanding (DIO) | 27.00 | 27.00 | 25.04 | 24.31 | 24.04 | — | — | — | — |
| Days payables outstanding (DPO) | 66.79 | 63.51 | 65.76 | 65.18 | 64.18 | — | — | — | — |
| Cash conversion cycle | -8.42 | -8.02 | -11.60 | -11.23 | -11.49 | — | — | — | — |
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 | 1.73 | 1.59 | 2.24 | 2.31 | 2.49 | 2.42 | 2.22 | 2.38 | 2.41 |
| FCF / Net income | 1.45 | 1.30 | 1.98 | 1.99 | 2.06 | 2.05 | 1.93 | 1.99 | 2.12 |
| FCF margin | +1.04% | +0.92% | +1.32% | +1.02% | +1.00% | +1.11% | +1.10% | +1.10% | +1.14% |
| OCF margin | +1.25% | +1.13% | +1.49% | +1.19% | +1.21% | +1.31% | +1.26% | +1.31% | +1.30% |
| CapEx / Revenue | +0.20% | +0.21% | +0.17% | +0.17% | +0.21% | +0.19% | +0.18% | +0.18% | +0.18% |
| CapEx / D&A | 0.85 | 0.70 | 0.47 | 1.09 | — | — | — | — | — |
| Stock-based comp / Revenue | +0.05% | +0.04% | +0.05% | +0.05% | 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 | 7.39 | 8.04 | 8.53 | 7.53 | 7.96 | 17.77 | 19.80 | 21.97 | 25.12 |
| EPS · basic | 7.48 | 8.15 | 8.62 | 7.60 | 8.02 | 17.75 | 20.05 | 21.93 | 25.39 |
| Book value / share | 2.80 | 0.34 | 3.26 | 3.93 | 8.95 | 5.90 | 6.70 | 7.00 | 7.48 |
| Tangible BV / share | -65.73 | -60.44 | -65.20 | -62.57 | -80.44 | 5.90 | 6.70 | 7.00 | 7.48 |
| Sales / share | 1026.50 | 1129.62 | 1281.45 | 1467.71 | 1646.05 | 1717.04 | 1843.18 | 1963.45 | 2112.98 |
| Operating CF / share | 12.79 | 12.80 | 19.12 | 17.40 | 19.85 | 22.54 | 23.20 | 25.70 | 27.44 |
| Free cash flow / share | 10.69 | 10.45 | 16.88 | 14.97 | 16.43 | 19.05 | 20.25 | 21.51 | 24.17 |
| Dividends / share | 1.76 | 1.85 | 1.95 | 2.08 | 2.24 | 2.45 | 2.64 | 2.81 | 2.96 |
| Payout ratio | +23.81% | +23.06% | +22.85% | +27.58% | +28.12% | +26.34% | +25.18% | +26.01% | +26.05% |
| Retention ratio | +76.19% | +76.94% | +77.15% | +72.42% | +71.88% | +73.66% | +74.82% | +73.99% | +73.95% |
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 | — | +11.50% | +9.89% | +12.12% | +9.31% | +5.28% | +5.77% | +6.36% | +7.75% | +8.47% |
| Gross profit · YoY | — | +21.24% | +2.05% | +12.18% | +16.55% | +2.26% | +6.81% | +6.16% | +3.09% | +8.59% |
| Profit | ||||||||||
| Operating income · YoY | — | +2.87% | -11.09% | +24.26% | +19.98% | -6.19% | +7.55% | +9.81% | +3.08% | +5.69% |
| EBITDA · YoY | — | +6.99% | +9.51% | -1.31% | +11.06% | +11.23% | +6.26% | +4.53% | +6.73% | +6.81% |
| Net income · YoY | — | +10.32% | +2.74% | -13.53% | +2.99% | +18.06% | +10.78% | +3.12% | +5.39% | +4.61% |
| Operating | ||||||||||
| EBIT · YoY | — | +0.44% | +0.89% | -7.54% | +18.89% | +8.74% | +6.09% | +6.20% | +8.44% | +5.02% |
| R&D · YoY | — | — | — | — | — | — | — | — | — | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | +8.80% | +6.09% | -11.72% | +5.71% | +123.25% | +11.40% | +11.01% | +14.33% | +16.53% |
| EPS · basic · YoY | — | +8.96% | +5.77% | -11.83% | +5.53% | +121.32% | +12.96% | +9.37% | +15.77% | +16.50% |
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 | $8.75B | $7.59B | $6.82B | $6.65B | $10.75B | $9.32B | $9.75B | $10.57B | $11.46B |
| Net debt | $6.2B | $4.06B | $4.13B | $3.42B | $6.35B | $5.44B | $5.58B | $6.2B | $6.69B |
| Net debt / EBITDA | 2.13 | 1.30 | 1.21 | 1.02 | 1.70 | 1.31 | 1.26 | 1.34 | 1.36 |
| Debt / equity | 14.98 | 106.49 | 10.23 | 8.46 | 6.15 | 8.02 | 7.49 | 7.79 | 7.90 |
| Debt / assets | +15.26% | +13.42% | +10.90% | +9.91% | +14.03% | +11.69% | +11.70% | +11.72% | +11.59% |
| Equity / assets | +1.02% | +0.13% | +1.07% | +1.17% | +2.28% | +1.46% | +1.56% | +1.51% | +1.47% |
| Coverage | |||||||||
| EBITDA / interest expense | 15.94 | 13.42 | 12.37 | 13.53 | 8.90 | 11.65 | 11.46 | 11.63 | 11.08 |
| Operating income / interest | 14.65 | 11.86 | 8.88 | 12.22 | 8.69 | 9.59 | 9.55 | 10.18 | 9.37 |
| Interest expense | $182.54M | $231.98M | $275.65M | $248.68M | $419.75M | $356.71M | $385.27M | $397.03M | $444.53M |
| Liquidity | |||||||||
| Current ratio | 0.94 | 0.91 | 0.88 | 0.88 | 0.90 | — | — | — | — |
| Quick ratio | 0.51 | 0.51 | 0.48 | 0.50 | 0.51 | — | — | — | — |
| Cash ratio | 0.06 | 0.08 | 0.06 | 0.06 | 0.08 | — | — | — | — |
| Working capital | -$2.56B | -$3.89B | -$6.03B | -$6.56B | -$5.58B | — | — | — | — |
| Working capital / revenue | -1.19% | -1.63% | -2.30% | -2.23% | -1.74% | — | — | — | — |
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).