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 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| 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 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +73.48% | +73.34% | +75.50% | +77.19% | +77.68% | +77.88% | +76.17% | +77.43% | +77.66% |
| Operating margin | +2.07% | +3.29% | +14.38% | +19.01% | +21.47% | +18.18% | +17.80% | +18.37% | +18.73% |
| EBITDA margin | +14.52% | +18.00% | +26.45% | +29.40% | +31.67% | +29.99% | +30.01% | +28.53% | +28.69% |
| EBIT margin | +2.07% | +5.93% | +17.21% | +20.23% | +22.93% | +20.70% | +20.29% | +20.69% | +20.67% |
| Pre-tax margin | +5.78% | +2.11% | +14.20% | +19.63% | +22.93% | +18.78% | +18.98% | +19.45% | +18.42% |
| Net margin | +5.45% | +0.66% | +11.87% | +16.35% | +17.96% | +15.18% | +15.18% | +15.20% | +15.25% |
| Cost structure | |||||||||
| Cost of revenue / sales | +26.52% | +26.66% | +24.50% | +22.81% | +22.32% | +23.33% | +23.53% | +22.99% | +23.00% |
| R&D intensity | +16.85% | +16.12% | +14.07% | +14.50% | +14.43% | +14.33% | +14.07% | +14.51% | +14.03% |
| SG&A intensity | +54.56% | +51.29% | +44.21% | +42.47% | +41.77% | +44.10% | +42.92% | +43.62% | +43.71% |
| Effective tax rate | +5.74% | +68.48% | +16.44% | +16.68% | +21.67% | +18.14% | +18.54% | +18.17% | +19.31% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +2.48% | +0.36% | +6.93% | +10.13% | +12.61% | +9.86% | +9.84% | +9.67% | +9.56% |
| Return on assets (ROA) | +1.52% | +0.21% | +4.14% | +6.02% | +6.64% | +5.55% | +5.60% | +5.66% | +5.64% |
| Return on capital (ROC) | +0.76% | +1.42% | +6.94% | +9.93% | +11.68% | +9.58% | +9.32% | +9.48% | +9.56% |
| Return on invested capital (ROIC) | +2.00% | +0.29% | +5.73% | +8.54% | +9.77% | +8.00% | +7.95% | +7.84% | +7.79% |
| Asset turnover | +27.83% | +31.72% | +34.92% | +36.82% | +36.98% | +36.56% | +36.90% | +37.25% | +37.01% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +5.45% | +0.66% | +11.87% | +16.35% | +17.96% | +15.18% | +15.18% | +15.20% | +15.25% |
| Asset turnover (× revenue / assets) | +27.83% | +31.72% | +34.92% | +36.82% | +36.98% | +36.56% | +36.90% | +37.25% | +37.01% |
| Equity multiplier (× assets / equity) | +163.78% | +169.38% | +167.36% | +168.26% | +189.89% | +177.71% | +175.59% | +170.74% | +169.42% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 0.28 | 0.32 | 0.35 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 |
| Fixed-asset turnover | 4.65 | 4.76 | 5.76 | 7.03 | 8.11 | — | — | — | — |
| Inventory turnover | — | — | — | — | — | — | — | — | — |
| Receivables turnover | 2.72 | 2.92 | 3.05 | 3.17 | 2.90 | — | — | — | — |
| Payables turnover | — | — | — | — | — | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 134.18 | 125.21 | 119.52 | 115.05 | 126.04 | — | — | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | — | — | — | — | — | — | — | — | — |
| Cash conversion cycle | 134.18 | 125.21 | 119.52 | 115.05 | 126.04 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 4.16 | 34.19 | 2.47 | 2.11 | 2.01 | 2.21 | 2.16 | 2.15 | 2.17 |
| FCF / Net income | 3.66 | 30.35 | 2.30 | 2.01 | 1.93 | 2.13 | 2.09 | 2.13 | 2.06 |
| FCF margin | +19.94% | +20.14% | +27.25% | +32.81% | +34.68% | +32.29% | +31.69% | +32.43% | +31.47% |
| OCF margin | +22.65% | +22.68% | +29.36% | +34.55% | +36.11% | +33.52% | +32.81% | +32.74% | +33.14% |
| CapEx / Revenue | +2.71% | +2.55% | +2.11% | +1.74% | +1.43% | +1.71% | +1.77% | +1.79% | +1.74% |
| CapEx / D&A | 0.22 | 0.21 | 0.19 | 0.19 | 0.16 | — | — | — | — |
| Stock-based comp / Revenue | +10.49% | +10.46% | +8.00% | +8.40% | +8.45% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 1.48 | 0.21 | 4.20 | 6.36 | 7.80 | 13.98 | 15.44 | 17.86 | 18.17 |
| EPS · basic | 1.51 | 0.21 | 4.25 | 6.44 | 7.85 | 13.95 | 15.74 | 17.84 | 18.23 |
| Book value / share | 59.68 | 58.53 | 60.62 | 62.81 | 61.86 | 73.83 | 81.58 | 90.36 | 100.37 |
| Tangible BV / share | 1.25 | 2.67 | 5.84 | 5.61 | -5.87 | 73.83 | 81.58 | 90.36 | 100.37 |
| Sales / share | 27.20 | 31.45 | 35.42 | 38.91 | 43.44 | 47.96 | 52.85 | 57.47 | 62.93 |
| Operating CF / share | 6.16 | 7.13 | 10.40 | 13.44 | 15.69 | 16.08 | 17.34 | 18.82 | 20.85 |
| Free cash flow / share | 5.42 | 6.33 | 9.65 | 12.77 | 15.06 | 15.49 | 16.75 | 18.64 | 19.80 |
| Dividends / share | 0.00 | 0.00 | 0.00 | 1.58 | 1.66 | 1.25 | 1.38 | 1.52 | 1.63 |
| Payout ratio | 0.00% | 0.00% | 0.00% | +24.80% | +21.28% | +17.16% | +17.22% | +17.43% | +17.02% |
| Retention ratio | +100.00% | +100.00% | +100.00% | +75.20% | +78.72% | +82.84% | +82.78% | +82.57% | +82.98% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +18.35% | +11.18% | +8.72% | +9.58% | +11.12% | +9.57% | +9.24% | +8.78% | +10.78% |
| Gross profit · YoY | — | +18.11% | +14.46% | +11.16% | +10.27% | +11.40% | +7.17% | +11.05% | +9.10% | +11.55% |
| Profit | ||||||||||
| Operating income · YoY | — | +87.96% | +386.50% | +43.78% | +23.76% | -5.91% | +7.25% | +12.78% | +10.86% | +45.90% |
| EBITDA · YoY | — | +46.75% | +63.38% | +20.84% | +18.02% | +5.22% | +9.66% | +3.86% | +9.37% | +20.62% |
| Net income · YoY | — | -85.60% | +1888.46% | +49.83% | +20.33% | -6.06% | +9.57% | +9.38% | +9.11% | +25.98% |
| Operating | ||||||||||
| EBIT · YoY | — | +239.05% | +222.87% | +27.79% | +24.18% | +0.32% | +7.41% | +11.40% | +8.66% | +47.71% |
| R&D · YoY | — | +13.21% | -2.95% | +11.96% | +9.10% | +10.32% | +7.60% | +12.68% | +5.12% | +8.26% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -85.81% | +1900.00% | +51.43% | +22.64% | +79.17% | +10.51% | +15.62% | +1.76% | +36.82% |
| EPS · basic · YoY | — | -86.09% | +1923.81% | +51.53% | +21.89% | +77.76% | +12.83% | +13.32% | +2.16% | +36.53% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $13.99B | $14.09B | $12.59B | $11.39B | $17.18B | $16.55B | $18.47B | $20.24B | $21.82B |
| Net debt | $8.52B | $7.07B | $4.12B | $2.54B | $9.85B | $6.36B | $7.27B | $8.41B | $8.66B |
| Net debt / EBITDA | 2.22 | 1.25 | 0.45 | 0.23 | 0.75 | 0.46 | 0.48 | 0.53 | 0.50 |
| Debt / equity | 0.24 | 0.24 | 0.21 | 0.19 | 0.29 | 0.23 | 0.24 | 0.23 | 0.23 |
| Debt / assets | +14.69% | +14.25% | +12.61% | +11.07% | +15.29% | +13.11% | +13.48% | +13.65% | +13.44% |
| Equity / assets | +61.06% | +59.04% | +59.75% | +59.43% | +52.66% | +56.27% | +56.95% | +58.57% | +59.03% |
| Coverage | |||||||||
| EBITDA / interest expense | 17.48 | 19.67 | — | 40.97 | — | 122.56 | 122.67 | 116.53 | 116.91 |
| Operating income / interest | 2.49 | 3.59 | — | 26.49 | — | 74.31 | 72.74 | 75.04 | 76.30 |
| Interest expense | $220M | $287M | $0 | $272M | $0 | $112.91M | $123.7M | $135.24M | $147.44M |
| Liquidity | |||||||||
| Current ratio | 1.05 | 1.02 | 1.09 | 1.06 | 0.76 | — | — | — | — |
| Quick ratio | 0.93 | 0.90 | 0.96 | 0.93 | 0.64 | — | — | — | — |
| Cash ratio | 0.25 | 0.27 | 0.32 | 0.32 | 0.20 | — | — | — | — |
| Working capital | $1.06B | $504M | $2.44B | $1.75B | -$8.9B | — | — | — | — |
| Working capital / revenue | +4.01% | +1.61% | +7.01% | +4.61% | -21.42% | — | — | — | — |
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).