Explain this page
Arphra AIPlain-English read on Electronic Arts Inc.’s valuationRatios & 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 | 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 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +73.46% | +73.41% | +75.87% | +77.39% | +79.32% | +75.71% | +77.03% | +76.89% | +76.12% |
| Operating margin | +18.58% | +16.15% | +17.94% | +20.07% | +20.37% | +19.76% | +19.97% | +19.08% | +19.38% |
| EBITDA margin | +22.08% | +23.24% | +25.86% | +27.12% | +27.05% | +26.08% | +26.64% | +26.81% | +27.20% |
| EBIT margin | +18.87% | +16.29% | +18.64% | +21.78% | +22.28% | +21.01% | +20.83% | +21.10% | +21.20% |
| Pre-tax margin | +18.07% | +15.46% | +17.86% | +21.01% | +21.51% | +20.45% | +20.37% | +20.43% | +20.47% |
| Net margin | +14.87% | +11.29% | +10.80% | +16.83% | +15.02% | +14.53% | +14.42% | +14.56% | +14.52% |
| Cost structure | |||||||||
| Cost of revenue / sales | +26.54% | +26.59% | +24.13% | +22.61% | +20.68% | +22.31% | +22.31% | +22.71% | +21.87% |
| R&D intensity | +31.59% | +31.27% | +31.35% | +32.00% | +34.42% | +32.16% | +31.81% | +31.91% | +32.11% |
| SG&A intensity | +22.76% | +23.37% | +22.96% | +22.61% | +22.87% | +22.68% | +23.18% | +22.74% | +23.23% |
| Effective tax rate | +17.70% | +27.01% | +39.52% | +19.89% | +30.16% | +29.32% | +29.99% | +29.77% | +29.04% |
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 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +10.68% | +10.35% | +11.00% | +16.94% | +17.55% | +15.69% | +15.31% | +15.89% | +15.44% |
| Return on assets (ROA) | +6.30% | +5.72% | +5.96% | +9.49% | +9.06% | +8.52% | +8.22% | +8.38% | +8.36% |
| Return on capital (ROC) | +10.68% | +11.78% | +14.42% | +16.04% | +17.67% | +16.40% | +16.52% | +16.03% | +15.88% |
| Return on invested capital (ROIC) | +8.55% | +8.23% | +8.68% | +13.46% | +13.03% | +12.06% | +11.93% | +12.23% | +11.90% |
| Asset turnover | +42.36% | +50.66% | +55.17% | +56.35% | +60.34% | +58.65% | +57.01% | +57.59% | +57.57% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +14.87% | +11.29% | +10.80% | +16.83% | +15.02% | +14.53% | +14.42% | +14.56% | +14.52% |
| Asset turnover (× revenue / assets) | +42.36% | +50.66% | +55.17% | +56.35% | +60.34% | +58.65% | +57.01% | +57.59% | +57.57% |
| Equity multiplier (× assets / equity) | +169.49% | +180.98% | +184.55% | +178.62% | +193.67% | +184.14% | +186.22% | +189.55% | +184.74% |
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 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 0.42 | 0.51 | 0.55 | 0.56 | 0.60 | 0.59 | 0.57 | 0.58 | 0.58 |
| Fixed-asset turnover | 11.46 | 12.71 | 13.53 | 13.08 | 12.74 | — | — | — | — |
| Inventory turnover | — | — | — | — | — | — | — | — | — |
| Receivables turnover | 10.80 | 10.76 | 10.86 | 13.38 | 10.99 | — | — | — | — |
| Payables turnover | 15.56 | 18.41 | 18.10 | 15.55 | 14.70 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 33.78 | 33.94 | 33.62 | 27.27 | 33.21 | — | — | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | 23.45 | 19.83 | 20.16 | 23.48 | 24.84 | — | — | — | — |
| Cash conversion cycle | 10.33 | 14.11 | 13.46 | 3.79 | 8.37 | — | — | — | — |
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 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 2.31 | 2.41 | 1.93 | 1.82 | 1.85 | 1.85 | 1.79 | 1.78 | 1.79 |
| FCF / Net income | 2.16 | 2.17 | 1.67 | 1.66 | 1.66 | 1.62 | 1.59 | 1.61 | 1.58 |
| FCF margin | +32.15% | +24.47% | +18.09% | +27.98% | +24.90% | +23.52% | +22.98% | +23.40% | +22.99% |
| OCF margin | +34.36% | +27.16% | +20.87% | +30.61% | +27.86% | +26.86% | +25.76% | +25.87% | +26.02% |
| CapEx / Revenue | +2.20% | +2.69% | +2.79% | +2.63% | +2.96% | +2.74% | +2.82% | +2.82% | +2.80% |
| CapEx / D&A | 0.69 | 0.39 | 0.39 | 0.58 | 0.62 | — | — | — | — |
| Stock-based comp / Revenue | +7.73% | +7.55% | +7.38% | +7.72% | +8.60% | — | — | — | — |
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 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 2.87 | 2.76 | 2.88 | 4.68 | 4.23 | 8.87 | 9.57 | 9.55 | 14.38 |
| EPS · basic | 2.90 | 2.78 | 2.90 | 4.71 | 4.28 | 8.82 | 9.72 | 9.68 | 14.54 |
| Book value / share | 26.85 | 26.66 | 26.23 | 27.62 | 24.19 | 29.12 | 31.24 | 30.39 | 37.57 |
| Tangible BV / share | 15.97 | 4.46 | 4.66 | 6.38 | 2.72 | 29.12 | 31.24 | 30.39 | 37.57 |
| Sales / share | 19.28 | 24.44 | 26.71 | 27.80 | 28.27 | 31.45 | 33.16 | 33.18 | 39.96 |
| Operating CF / share | 6.62 | 6.64 | 5.58 | 8.51 | 7.88 | 8.45 | 8.54 | 8.58 | 10.40 |
| Free cash flow / share | 6.20 | 5.98 | 4.83 | 7.78 | 7.04 | 7.40 | 7.62 | 7.76 | 9.19 |
| Dividends / share | 0.34 | 0.67 | 0.76 | 0.75 | 0.75 | 0.87 | 0.88 | 0.91 | 1.12 |
| Payout ratio | +11.71% | +24.46% | +26.18% | +16.10% | +17.75% | +19.01% | +18.50% | +18.79% | +19.33% |
| Retention ratio | +88.29% | +75.54% | +73.82% | +83.90% | +82.25% | +80.99% | +81.50% | +81.21% | +80.67% |
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 | 2027E | 2028E | 2029E | 2030E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +24.20% | +6.22% | +1.83% | -1.31% | +10.93% | +5.40% | +0.11% | +20.05% | +8.09% |
| Gross profit · YoY | — | +24.11% | +9.78% | +3.87% | +1.16% | +5.88% | +7.23% | -0.08% | +18.85% | +8.57% |
| Profit | ||||||||||
| Operating income · YoY | — | +7.93% | +17.98% | +13.96% | +0.13% | +7.63% | +6.52% | -4.35% | +21.91% | +8.66% |
| EBITDA · YoY | — | +30.73% | +18.15% | +6.82% | -1.56% | +6.96% | +7.67% | +0.74% | +21.79% | +10.94% |
| Net income · YoY | — | -5.73% | +1.65% | +58.73% | -11.94% | +7.31% | +4.63% | +1.04% | +19.69% | +7.76% |
| Operating | ||||||||||
| EBIT · YoY | — | +7.25% | +21.51% | +19.00% | +0.97% | +4.60% | +4.50% | +1.39% | +20.63% | +9.67% |
| R&D · YoY | — | +22.95% | +6.50% | +3.95% | +6.16% | +3.65% | +4.25% | +0.42% | +20.78% | +8.31% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -3.83% | +4.35% | +62.50% | -9.62% | +109.64% | +7.93% | -0.23% | +50.58% | +22.32% |
| EPS · basic · YoY | — | -4.14% | +4.32% | +62.41% | -9.13% | +106.04% | +10.28% | -0.42% | +50.19% | +22.33% |
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 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $1.95B | $1.96B | $1.95B | $1.95B | $2.22B | $2.31B | $2.33B | $2.4B | $2.94B |
| Net debt | -$3.31B | -$773M | -$478M | -$952M | $82M | -$479.98M | -$608.45M | -$560.54M | -$581.4M |
| Net debt / EBITDA | -2.66 | -0.48 | -0.25 | -0.46 | 0.04 | -0.22 | -0.26 | -0.24 | -0.20 |
| Debt / equity | 0.25 | 0.26 | 0.27 | 0.26 | 0.35 | 0.30 | 0.28 | 0.30 | 0.30 |
| Debt / assets | +14.69% | +14.20% | +14.46% | +14.52% | +17.93% | +16.37% | +15.22% | +15.80% | +16.12% |
| Equity / assets | +59.00% | +55.25% | +54.19% | +55.98% | +51.63% | +54.31% | +53.70% | +52.76% | +54.13% |
| Coverage | |||||||||
| EBITDA / interest expense | 27.62 | 28.02 | 33.10 | 35.36 | 34.81 | 32.75 | 34.84 | 34.59 | 35.28 |
| Operating income / interest | 23.24 | 19.47 | 22.97 | 26.17 | 26.21 | 24.81 | 26.12 | 24.62 | 25.13 |
| Interest expense | $45M | $58M | $58M | $58M | $58M | $65.94M | $66.72M | $67.71M | $80.87M |
| Liquidity | |||||||||
| Current ratio | 2.43 | 1.18 | 1.21 | 1.37 | 0.95 | — | — | — | — |
| Quick ratio | 2.32 | 1.06 | 1.05 | 1.24 | 0.85 | — | — | — | — |
| Cash ratio | 1.77 | 0.78 | 0.74 | 0.94 | 0.62 | — | — | — | — |
| Working capital | $4.25B | $638M | $684M | $1.16B | -$183M | — | — | — | — |
| Working capital / revenue | +75.48% | +9.13% | +9.21% | +15.30% | -2.45% | — | — | — | — |
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).