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 | +46.09% | +42.55% | +42.50% | +45.87% | +44.42% | +44.54% | +42.98% | +44.15% | +44.17% |
| Operating margin | +24.00% | +14.62% | +14.16% | +16.47% | +28.89% | +19.97% | +20.07% | +19.38% | +20.40% |
| EBITDA margin | +28.64% | +22.52% | +24.75% | +28.25% | +26.41% | +25.99% | +27.21% | +25.77% | +26.01% |
| EBIT margin | +22.63% | +14.01% | +13.76% | +16.58% | +14.22% | +14.84% | +15.27% | +15.22% | +15.00% |
| Pre-tax margin | +20.84% | +7.53% | +4.89% | +9.91% | +7.93% | +7.65% | +7.67% | +7.70% | +7.37% |
| Net margin | +17.80% | +6.37% | +5.13% | +9.03% | +7.37% | +7.04% | +7.39% | +7.07% | +7.00% |
| Cost structure | |||||||||
| Cost of revenue / sales | +53.91% | +57.45% | +57.50% | +54.13% | +55.58% | +55.57% | +56.66% | +57.07% | +54.29% |
| R&D intensity | +7.29% | +6.98% | +7.87% | +9.75% | +10.29% | +9.33% | +9.20% | +9.13% | +9.30% |
| SG&A intensity | +12.72% | +16.56% | +16.35% | +17.07% | -0.53% | +11.10% | +10.70% | +10.84% | +10.67% |
| Effective tax rate | +14.60% | +15.44% | -4.88% | +8.82% | +7.10% | +3.69% | +3.63% | +3.62% | +3.69% |
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) | +23.87% | +6.49% | +5.30% | +7.93% | +5.96% | +6.25% | +6.68% | +6.23% | +6.30% |
| Return on assets (ROA) | +12.82% | +2.06% | +2.05% | +3.49% | +2.82% | +2.70% | +2.91% | +2.72% | +2.80% |
| Return on capital (ROC) | +20.27% | +5.28% | +6.20% | +6.89% | +11.77% | +8.33% | +8.48% | +7.96% | +8.57% |
| Return on invested capital (ROIC) | +15.03% | +2.30% | +2.24% | +3.78% | +3.00% | +2.93% | +3.12% | +2.90% | +2.94% |
| Asset turnover | +72.02% | +32.37% | +39.99% | +38.61% | +38.28% | +38.37% | +39.32% | +38.41% | +39.95% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +17.80% | +6.37% | +5.13% | +9.03% | +7.37% | +7.04% | +7.39% | +7.07% | +7.00% |
| Asset turnover (× revenue / assets) | +72.02% | +32.37% | +39.99% | +38.61% | +38.28% | +38.37% | +39.32% | +38.41% | +39.95% |
| Equity multiplier (× assets / equity) | +186.25% | +315.07% | +258.54% | +227.40% | +211.22% | +231.42% | +229.78% | +229.19% | +225.27% |
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 | 0.72 | 0.32 | 0.40 | 0.39 | 0.38 | 0.38 | 0.39 | 0.38 | 0.40 |
| Fixed-asset turnover | 3.19 | 2.21 | 2.28 | 1.90 | 1832.07 | — | — | — | — |
| Inventory turnover | 2.61 | 2.32 | 3.34 | 2.75 | 2762.28 | — | — | — | — |
| Receivables turnover | 6.62 | 6.13 | 7.71 | 6.06 | 6.97 | — | — | — | — |
| Payables turnover | 9.48 | 10.93 | 15.10 | 9.08 | 10.36 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 55.16 | 59.55 | 47.34 | 60.24 | 52.38 | — | — | — | — |
| Days inventory outstanding (DIO) | 139.97 | 157.34 | 109.35 | 132.74 | 0.13 | — | — | — | — |
| Days payables outstanding (DPO) | 38.51 | 33.39 | 24.18 | 40.21 | 35.23 | — | — | — | — |
| Cash conversion cycle | 156.62 | 183.50 | 132.51 | 152.78 | 17.28 | — | — | — | — |
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 | 0.98 | 1.74 | 3.57 | 2.16 | 2.95 | 2.90 | 2.62 | 2.89 | 2.82 |
| FCF / Net income | 0.46 | -0.49 | 1.04 | 1.08 | 1.68 | 1.28 | 1.26 | 1.27 | 1.28 |
| FCF margin | +8.26% | -3.14% | +5.32% | +9.75% | +12.39% | +9.02% | +9.34% | +9.01% | +8.97% |
| OCF margin | +17.42% | +11.06% | +18.29% | +19.49% | +21.75% | +20.39% | +19.36% | +20.41% | +19.73% |
| CapEx / Revenue | +9.16% | +14.20% | +12.96% | +9.74% | +9.36% | +10.45% | +10.80% | +10.99% | +10.47% |
| CapEx / D&A | 1.52 | 1.67 | 1.18 | 0.83 | 1.46 | — | — | — | — |
| Stock-based comp / Revenue | +1.30% | +2.03% | +1.74% | +2.03% | +2.17% | — | — | — | — |
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 | 3.00 | 1.46 | 1.20 | 1.93 | 1.55 | 3.63 | 4.65 | 5.30 | 4.99 |
| EPS · basic | 3.02 | 1.47 | 1.21 | 1.94 | 1.55 | 3.66 | 4.61 | 5.40 | 5.06 |
| Book value / share | 12.55 | 22.48 | 22.58 | 24.31 | 25.98 | 25.31 | 28.13 | 31.10 | 30.93 |
| Tangible BV / share | 4.28 | -21.18 | -12.05 | -8.85 | -5.91 | 25.31 | 28.13 | 31.10 | 30.93 |
| Sales / share | 16.83 | 22.93 | 23.35 | 21.35 | 21.00 | 22.48 | 25.42 | 27.38 | 27.83 |
| Operating CF / share | 2.93 | 2.54 | 4.27 | 4.16 | 4.57 | 4.58 | 4.92 | 5.59 | 5.49 |
| Free cash flow / share | 1.39 | -0.72 | 1.24 | 2.08 | 2.60 | 2.03 | 2.37 | 2.47 | 2.50 |
| Dividends / share | 0.32 | 0.40 | 0.40 | 0.40 | 0.40 | 0.40 | 0.46 | 0.50 | 0.52 |
| Payout ratio | +10.64% | +27.43% | +33.33% | +20.69% | +25.81% | +25.27% | +24.39% | +25.80% | +26.66% |
| Retention ratio | +89.36% | +72.57% | +66.67% | +79.31% | +74.19% | +74.73% | +75.61% | +74.20% | +73.34% |
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 | — | +42.77% | +7.37% | -8.02% | -1.38% | +7.98% | +11.64% | +7.41% | +1.33% | +7.81% |
| Gross profit · YoY | — | +31.78% | +7.25% | -0.73% | -4.49% | +8.26% | +7.73% | +10.34% | +1.37% | +7.23% |
| Profit | ||||||||||
| Operating income · YoY | — | -13.01% | +4.00% | +6.96% | +72.97% | -25.35% | +12.20% | +3.70% | +6.65% | +5.63% |
| EBITDA · YoY | — | +12.24% | +18.01% | +4.96% | -7.80% | +6.28% | +16.88% | +1.74% | +2.27% | +6.51% |
| Net income · YoY | — | -48.94% | -13.52% | +62.06% | -19.53% | +3.16% | +17.15% | +2.83% | +0.24% | -4.07% |
| Operating | ||||||||||
| EBIT · YoY | — | -11.64% | +5.50% | +10.77% | -15.42% | +12.70% | +14.87% | +7.11% | -0.14% | +2.40% |
| R&D · YoY | — | +36.61% | +21.10% | +13.99% | +4.08% | -2.10% | +10.03% | +6.59% | +3.30% | +11.14% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -51.33% | -17.81% | +60.83% | -19.69% | +134.36% | +27.92% | +14.02% | -5.82% | +6.57% |
| EPS · basic · YoY | — | -51.32% | -17.69% | +60.33% | -20.10% | +136.44% | +25.84% | +17.05% | -6.23% | +6.67% |
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 | $1.01B | $5.87B | $4.65B | $4.05B | $3.89B | $4.39B | $4.85B | $5.38B | $5.32B |
| Net debt | $605.2M | $5.3B | $4.19B | $3.72B | $3.53B | $3.99B | $4.42B | $4.89B | $4.82B |
| Net debt / EBITDA | 0.92 | 7.17 | 4.80 | 4.07 | 4.19 | 4.45 | 4.22 | 4.59 | 4.42 |
| Debt / equity | 0.59 | 1.82 | 1.36 | 1.10 | 0.98 | 1.13 | 1.14 | 1.14 | 1.14 |
| Debt / assets | +31.57% | +57.85% | +52.72% | +48.28% | +46.63% | +48.83% | +49.53% | +49.91% | +50.64% |
| Equity / assets | +53.69% | +31.74% | +38.68% | +43.97% | +47.34% | +43.21% | +43.52% | +43.63% | +44.39% |
| Coverage | |||||||||
| EBITDA / interest expense | 15.97 | 3.48 | 2.79 | 4.25 | 4.22 | 3.49 | 3.77 | 3.65 | 3.50 |
| Operating income / interest | 13.38 | 2.26 | 1.60 | 2.48 | 4.62 | 2.68 | 2.78 | 2.75 | 2.74 |
| Interest expense | $41.24M | $212.67M | $312.38M | $215.22M | $199.8M | $257.38M | $278.26M | $291.88M | $312.1M |
| Liquidity | |||||||||
| Current ratio | 3.47 | 3.06 | 3.85 | 3.08 | 3.35 | — | — | — | — |
| Quick ratio | 1.98 | 1.44 | 1.78 | 1.65 | 1.68 | — | — | — | — |
| Cash ratio | 1.06 | 0.74 | 0.89 | 0.63 | 0.74 | — | — | — | — |
| Working capital | $934.37M | $1.57B | $1.46B | $1.09B | $1.15B | — | — | — | — |
| Working capital / revenue | +40.64% | +47.94% | +41.53% | +33.66% | +35.96% | — | — | — | — |
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).