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 | +46.20% | +46.07% | +45.66% | +45.08% | +45.01% | +46.45% | +45.74% | +45.38% | +44.59% |
| Operating margin | +20.25% | +20.82% | +20.81% | +20.01% | +20.19% | +20.49% | +20.86% | +19.89% | +20.53% |
| EBITDA margin | +23.09% | +23.36% | +23.22% | +22.41% | +20.19% | +21.73% | +22.05% | +21.30% | +22.41% |
| EBIT margin | +20.25% | +20.83% | +20.81% | +20.08% | +20.19% | +20.58% | +20.41% | +20.51% | +20.00% |
| Pre-tax margin | +20.09% | +20.63% | +20.72% | +19.99% | +20.18% | +19.85% | +20.80% | +19.90% | +20.22% |
| Net margin | +15.39% | +15.57% | +15.72% | +15.25% | +15.35% | +15.35% | +15.59% | +15.50% | +15.71% |
| Cost structure | |||||||||
| Cost of revenue / sales | +53.80% | +53.93% | +54.34% | +54.92% | +54.99% | +55.38% | +54.58% | +53.98% | +53.34% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +25.95% | +25.24% | +24.85% | +25.07% | +24.82% | +24.55% | +25.20% | +24.81% | +24.51% |
| Effective tax rate | +23.41% | +24.52% | +24.11% | +23.71% | +23.96% | +24.30% | +23.99% | +23.77% | +24.20% |
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) | +30.41% | +34.36% | +34.49% | +31.82% | +31.91% | +32.08% | +32.70% | +32.41% | +32.63% |
| Return on assets (ROA) | +21.52% | +23.90% | +25.88% | +24.49% | +24.90% | +24.56% | +25.38% | +25.39% | +25.00% |
| Return on capital (ROC) | +33.09% | +36.66% | +39.36% | +36.81% | +37.75% | +37.79% | +38.51% | +36.79% | +37.79% |
| Return on invested capital (ROIC) | +25.14% | +27.41% | +29.74% | +28.05% | +28.69% | +28.31% | +28.78% | +28.67% | +28.91% |
| Asset turnover | +139.82% | +153.47% | +164.62% | +160.62% | +162.29% | +160.01% | +162.85% | +163.77% | +159.21% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +15.39% | +15.57% | +15.72% | +15.25% | +15.35% | +15.35% | +15.59% | +15.50% | +15.71% |
| Asset turnover (× revenue / assets) | +139.82% | +153.47% | +164.62% | +160.62% | +162.29% | +160.01% | +162.85% | +163.77% | +159.21% |
| Equity multiplier (× assets / equity) | +141.31% | +143.80% | +133.27% | +129.91% | +128.13% | +130.61% | +128.83% | +127.63% | +130.48% |
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 | 1.40 | 1.53 | 1.65 | 1.61 | 1.62 | 1.60 | 1.63 | 1.64 | 1.59 |
| Fixed-asset turnover | 4.76 | 5.57 | 5.73 | 5.65 | 5.69 | — | — | — | — |
| Inventory turnover | 2.12 | 2.20 | 2.62 | 2.52 | 2.58 | — | — | — | — |
| Receivables turnover | 6.68 | 6.89 | 6.75 | 6.81 | 6.59 | — | — | — | — |
| Payables turnover | 13.87 | 14.76 | 15.12 | 14.40 | 14.23 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 54.66 | 52.98 | 54.03 | 53.62 | 55.43 | — | — | — | — |
| Days inventory outstanding (DIO) | 171.97 | 165.59 | 139.22 | 144.89 | 141.49 | — | — | — | — |
| Days payables outstanding (DPO) | 26.31 | 24.72 | 24.15 | 25.34 | 25.64 | — | — | — | — |
| Cash conversion cycle | 200.33 | 193.85 | 169.11 | 173.17 | 171.27 | — | — | — | — |
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 | 0.83 | 0.87 | 1.24 | 1.02 | 1.03 | 1.12 | 1.07 | 1.11 | 1.11 |
| FCF / Net income | 0.66 | 0.71 | 1.09 | 0.82 | 0.83 | 0.93 | 0.90 | 0.91 | 0.90 |
| FCF margin | +10.21% | +10.99% | +17.15% | +12.55% | +12.81% | +14.22% | +13.99% | +14.07% | +14.18% |
| OCF margin | +12.81% | +13.48% | +19.50% | +15.55% | +15.80% | +17.27% | +16.70% | +17.17% | +17.40% |
| CapEx / Revenue | +2.61% | +2.49% | +2.35% | +3.00% | +2.99% | +2.75% | +2.83% | +2.75% | +2.83% |
| CapEx / D&A | 0.92 | 0.98 | 0.97 | 1.29 | 1.37 | — | — | — | — |
| Stock-based comp / Revenue | +0.09% | +0.10% | +0.10% | +0.11% | +0.10% | — | — | — | — |
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 | 0.80 | 0.94 | 1.01 | 1.00 | 1.09 | 1.24 | 1.37 | 1.47 | 1.53 |
| EPS · basic | 0.80 | 0.95 | 1.01 | 1.00 | 1.10 | 1.25 | 1.36 | 1.47 | 1.53 |
| Book value / share | 2.64 | 2.75 | 2.92 | 3.15 | 3.43 | 3.83 | 4.12 | 4.42 | 4.74 |
| Tangible BV / share | 2.64 | 2.75 | 2.92 | 3.15 | 3.43 | 3.83 | 4.12 | 4.42 | 4.74 |
| Sales / share | 5.21 | 6.06 | 6.41 | 6.57 | 7.13 | 8.01 | 8.63 | 9.23 | 9.85 |
| Operating CF / share | 0.67 | 0.82 | 1.25 | 1.02 | 1.13 | 1.38 | 1.44 | 1.58 | 1.71 |
| Free cash flow / share | 0.53 | 0.67 | 1.10 | 0.82 | 0.91 | 1.14 | 1.21 | 1.30 | 1.40 |
| Dividends / share | 0.56 | 0.62 | 0.89 | 0.78 | 0.87 | 1.02 | 1.09 | 1.20 | 1.26 |
| Payout ratio | +69.59% | +65.44% | +88.03% | +77.64% | +79.80% | +82.87% | +81.04% | +83.78% | +81.74% |
| Retention ratio | +30.41% | +34.56% | +11.97% | +22.36% | +20.20% | +17.13% | +18.96% | +16.22% | +18.26% |
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 | — | +16.13% | +5.24% | +2.71% | +8.67% | +11.30% | +8.70% | +7.31% | +6.24% | +8.22% |
| Gross profit · YoY | — | +15.79% | +4.31% | +1.41% | +8.50% | +14.86% | +7.05% | +6.45% | +4.38% | +7.74% |
| Profit | ||||||||||
| Operating income · YoY | — | +19.40% | +5.17% | -1.22% | +9.65% | +12.94% | +10.65% | +2.34% | +9.67% | +8.41% |
| EBITDA · YoY | — | +17.48% | +4.60% | -0.89% | -2.08% | +19.76% | +10.33% | +3.64% | +11.80% | +7.82% |
| Net income · YoY | — | +17.50% | +6.27% | -0.38% | +9.37% | +11.34% | +10.37% | +6.74% | +7.63% | +8.50% |
| Operating | ||||||||||
| EBIT · YoY | — | +19.45% | +5.12% | -0.87% | +9.26% | +13.47% | +7.76% | +7.83% | +3.60% | +8.05% |
| R&D · YoY | — | — | — | — | — | — | — | — | — | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | +17.50% | +7.45% | -0.99% | +9.00% | +13.66% | +10.51% | +7.57% | +4.16% | +8.48% |
| EPS · basic · YoY | — | +18.75% | +6.32% | -0.99% | +10.00% | +13.24% | +9.35% | +7.93% | +4.40% | +8.49% |
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 | $636.8M | $802.1M | $535M | $485.4M | $441.9M | $581.44M | $644.3M | $663M | $700.45M |
| Net debt | $400.6M | $572M | $313.7M | $229.6M | $165.1M | $290.79M | $321.79M | $326.25M | $330.66M |
| Net debt / EBITDA | 0.29 | 0.35 | 0.18 | 0.14 | 0.10 | 0.15 | 0.15 | 0.14 | 0.13 |
| Debt / equity | 0.21 | 0.25 | 0.16 | 0.13 | 0.11 | 0.13 | 0.14 | 0.13 | 0.13 |
| Debt / assets | +14.81% | +17.63% | +11.99% | +10.33% | +8.75% | +10.19% | +10.58% | +10.20% | +9.86% |
| Equity / assets | +70.77% | +69.54% | +75.04% | +76.98% | +78.05% | +76.56% | +77.62% | +78.35% | +76.64% |
| Coverage | |||||||||
| EBITDA / interest expense | 143.11 | 114.05 | 157.96 | 231.62 | 267.05 | 199.54 | 211.94 | 199.49 | 212.72 |
| Operating income / interest | 125.51 | 101.65 | 141.55 | 206.85 | 267.05 | 188.18 | 200.44 | 186.30 | 194.88 |
| Interest expense | $9.7M | $14.3M | $10.8M | $7.3M | $6.2M | $9.94M | $10.32M | $11.37M | $11.92M |
| Liquidity | |||||||||
| Current ratio | 4.19 | 3.96 | 4.57 | 4.67 | 4.85 | — | — | — | — |
| Quick ratio | 1.67 | 1.57 | 1.98 | 1.99 | 2.13 | — | — | — | — |
| Cash ratio | 0.35 | 0.29 | 0.33 | 0.37 | 0.39 | — | — | — | — |
| Working capital | $2.17B | $2.34B | $2.36B | $2.52B | $2.76B | — | — | — | — |
| Working capital / revenue | +36.17% | +33.45% | +32.12% | +33.46% | +33.61% | — | — | — | — |
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).