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 | +50.59% | +52.76% | +53.33% | +54.07% | +52.72% | +54.15% | +54.50% | +53.14% | +51.79% |
| Operating margin | +29.79% | +25.79% | +30.22% | +31.83% | +32.23% | +30.98% | +30.95% | +30.55% | +31.40% |
| EBITDA margin | +36.51% | +33.10% | +37.78% | +39.62% | +41.60% | +39.21% | +38.60% | +39.91% | +39.45% |
| EBIT margin | +29.79% | +25.99% | +31.18% | +32.56% | +33.48% | +32.34% | +32.16% | +32.19% | +33.01% |
| Pre-tax margin | +29.38% | +24.06% | +28.05% | +29.57% | +31.05% | +30.37% | +29.49% | +30.32% | +29.90% |
| Net margin | +25.11% | +21.53% | +22.45% | +24.38% | +25.72% | +24.41% | +24.66% | +23.79% | +24.24% |
| Cost structure | |||||||||
| Cost of revenue / sales | +49.41% | +47.24% | +46.67% | +45.93% | +47.28% | +45.78% | +45.75% | +45.61% | +47.93% |
| R&D intensity | +15.72% | +13.83% | +12.82% | +12.09% | +12.95% | +12.39% | +12.33% | +12.98% | +12.38% |
| SG&A intensity | +20.80% | +23.48% | +7.65% | +9.69% | +20.49% | +12.71% | +12.48% | +12.55% | +12.63% |
| Effective tax rate | +14.55% | +10.52% | +19.97% | +17.56% | +17.19% | +17.77% | +18.50% | +17.75% | +18.25% |
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) | +39.32% | +29.81% | +28.90% | +28.09% | +27.31% | +28.06% | +27.87% | +27.49% | +27.46% |
| Return on assets (ROA) | +17.98% | +9.89% | +11.81% | +13.25% | +13.87% | +13.25% | +13.57% | +12.99% | +13.15% |
| Return on capital (ROC) | +25.18% | +13.39% | +18.21% | +20.11% | +19.98% | +18.80% | +18.95% | +18.82% | +19.11% |
| Return on invested capital (ROIC) | +21.23% | +11.18% | +13.53% | +15.40% | +15.94% | +14.82% | +15.10% | +14.66% | +14.75% |
| Asset turnover | +71.59% | +45.93% | +52.63% | +54.33% | +53.94% | +54.26% | +55.02% | +54.60% | +54.26% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +25.11% | +21.53% | +22.45% | +24.38% | +25.72% | +24.41% | +24.66% | +23.79% | +24.24% |
| Asset turnover (× revenue / assets) | +71.59% | +45.93% | +52.63% | +54.33% | +53.94% | +54.26% | +55.02% | +54.60% | +54.26% |
| Equity multiplier (× assets / equity) | +218.71% | +301.51% | +244.64% | +212.03% | +196.86% | +211.79% | +205.41% | +211.63% | +208.77% |
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 | 0.46 | 0.53 | 0.54 | 0.54 | 0.54 | 0.55 | 0.55 | 0.54 |
| Fixed-asset turnover | 4.30 | 7.67 | 9.15 | 10.34 | 11.22 | — | — | — | — |
| Inventory turnover | 56.51 | — | — | — | — | — | — | — | — |
| Receivables turnover | 10.53 | 9.03 | 8.77 | 9.66 | 8.58 | — | — | — | — |
| Payables turnover | 9.17 | 8.04 | 7.99 | 5.68 | 8.12 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 34.67 | 40.40 | 41.60 | 37.78 | 42.55 | — | — | — | — |
| Days inventory outstanding (DIO) | 6.46 | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | 39.81 | 45.42 | 45.69 | 64.29 | 44.97 | — | — | — | — |
| Cash conversion cycle | 1.32 | -5.02 | -4.09 | -26.51 | -2.42 | — | — | — | — |
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 | 1.39 | 1.36 | 1.38 | 1.30 | 1.22 | 1.31 | 1.25 | 1.32 | 1.32 |
| FCF / Net income | 1.24 | 1.23 | 1.25 | 1.14 | 1.03 | 1.09 | 1.15 | 1.18 | 1.13 |
| FCF margin | +31.03% | +26.42% | +28.04% | +27.90% | +26.59% | +26.71% | +28.26% | +28.12% | +27.49% |
| OCF margin | +34.89% | +29.19% | +30.96% | +31.79% | +31.28% | +31.95% | +30.87% | +31.37% | +31.98% |
| CapEx / Revenue | +3.85% | +2.77% | +2.91% | +3.89% | +4.69% | +3.75% | +3.76% | +3.78% | +3.74% |
| CapEx / D&A | 0.57 | 0.39 | 0.44 | 0.55 | 0.58 | — | — | — | — |
| Stock-based comp / Revenue | +2.83% | +3.04% | +2.97% | +2.88% | +2.64% | — | — | — | — |
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 | 10.36 | 10.25 | 12.04 | 13.91 | 15.55 | 17.70 | 19.32 | 21.32 | 22.75 |
| EPS · basic | 10.56 | 10.48 | 12.26 | 14.11 | 15.74 | 17.75 | 19.61 | 21.51 | 22.83 |
| Book value / share | 26.35 | 34.37 | 41.65 | 49.52 | 56.96 | 56.09 | 59.89 | 62.45 | 66.03 |
| Tangible BV / share | 3.29 | -39.51 | -31.98 | -24.41 | -26.43 | 56.09 | 59.89 | 62.45 | 66.03 |
| Sales / share | 41.26 | 47.60 | 53.61 | 57.05 | 60.49 | 64.46 | 67.68 | 72.16 | 74.80 |
| Operating CF / share | 14.40 | 13.90 | 16.60 | 18.14 | 18.92 | 20.60 | 20.89 | 22.64 | 23.92 |
| Free cash flow / share | 12.81 | 12.58 | 15.03 | 15.92 | 16.09 | 17.22 | 19.12 | 20.29 | 20.56 |
| Dividends / share | 3.06 | 3.25 | 3.56 | 3.90 | 4.17 | 4.27 | 4.71 | 4.93 | 4.98 |
| Payout ratio | +29.51% | +31.73% | +29.60% | +28.05% | +26.79% | +27.15% | +28.25% | +28.69% | +27.47% |
| Retention ratio | +70.49% | +68.27% | +70.40% | +71.95% | +73.21% | +72.85% | +71.75% | +71.31% | +72.53% |
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 | — | +15.86% | +13.10% | +5.64% | +5.39% | +6.05% | +5.59% | +6.01% | +4.13% | +7.65% |
| Gross profit · YoY | — | +20.84% | +14.34% | +7.09% | +2.76% | +8.92% | +6.28% | +3.36% | +1.47% | +7.96% |
| Profit | ||||||||||
| Operating income · YoY | — | +0.30% | +32.54% | +11.28% | +6.70% | +1.92% | +5.51% | +4.63% | +7.04% | +8.36% |
| EBITDA · YoY | — | +5.04% | +29.10% | +10.77% | +10.66% | -0.06% | +3.95% | +9.60% | +2.94% | +8.69% |
| Net income · YoY | — | -0.67% | +17.95% | +14.73% | +11.15% | +0.69% | +6.64% | +2.27% | +6.10% | +7.18% |
| Operating | ||||||||||
| EBIT · YoY | — | +1.11% | +35.67% | +10.30% | +8.37% | +2.43% | +5.00% | +6.12% | +6.78% | +9.04% |
| R&D · YoY | — | +2.00% | +4.82% | -0.36% | +12.86% | +1.42% | +5.09% | +11.66% | -0.72% | +4.48% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -1.06% | +17.46% | +15.53% | +11.79% | +13.82% | +9.16% | +10.37% | +6.71% | +10.33% |
| EPS · basic · YoY | — | -0.76% | +16.98% | +15.09% | +11.55% | +12.79% | +10.48% | +9.69% | +6.11% | +10.12% |
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 | $866.25M | $2.22B | $1.84B | $1.57B | $1.56B | $1.91B | $1.95B | $2.09B | $2.18B |
| Net debt | $184.38M | $1.72B | $1.41B | $1.15B | $1.22B | $1.48B | $1.48B | $1.58B | $1.66B |
| Net debt / EBITDA | 0.32 | 2.81 | 1.80 | 1.32 | 1.26 | 1.53 | 1.47 | 1.43 | 1.46 |
| Debt / equity | 0.85 | 1.67 | 1.14 | 0.82 | 0.71 | 0.89 | 0.85 | 0.88 | 0.86 |
| Debt / assets | +38.97% | +55.31% | +46.43% | +38.83% | +36.21% | +42.20% | +41.18% | +41.38% | +41.28% |
| Equity / assets | +45.72% | +33.17% | +40.88% | +47.16% | +50.80% | +47.22% | +48.68% | +47.25% | +47.90% |
| Coverage | |||||||||
| EBITDA / interest expense | 70.86 | 17.10 | 11.88 | 13.27 | 17.15 | 13.86 | 13.21 | 13.93 | 13.91 |
| Operating income / interest | 57.81 | 13.32 | 9.50 | 10.66 | 13.29 | 10.95 | 10.59 | 10.67 | 11.08 |
| Interest expense | $8.2M | $35.7M | $66.32M | $65.78M | $56.32M | $69.66M | $75.99M | $78.93M | $81.36M |
| Liquidity | |||||||||
| Current ratio | 2.96 | 1.99 | 1.59 | 1.25 | 1.40 | — | — | — | — |
| Quick ratio | 2.75 | 1.69 | 1.44 | 1.08 | 1.20 | — | — | — | — |
| Cash ratio | 2.16 | 1.15 | 0.88 | 0.63 | 0.65 | — | — | — | — |
| Working capital | $617.87M | $432.06M | $285.88M | $168.78M | $208.45M | — | — | — | — |
| Working capital / revenue | +38.82% | +23.43% | +13.71% | +7.66% | +8.98% | — | — | — | — |
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).