Explain this page
Arphra AIPlain-English read on Formula One Group’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.
Quality composite
BMixed
A snapshot of the latest fiscal year’s margins, returns on capital, balance-sheet strength and efficiency, computed from the income statement, balance sheet and cash-flow rows. Source income / balance / cash_flow.
Profitability
Gross margin24.9%
Operating margin13.5%
Net margin12.4%
ROE6.6%
ROA3.6%
ROIC3.9%
Liquidity & leverage
Current ratio1.46×
Quick ratio1.46×
Debt / equity0.61×
Net debt / EBITDA3.53×
Interest coverage22×
Efficiency & per-share
Asset turnover0.29×
Inventory days0
Days sales out.19
FCF / share$3.00
Book value / share$33.79
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 | — | — | — | $21.38B | $24.63B | — | — | — | — |
| Enterprise value | — | — | — | $21.74B | $28.7B | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | 5.95 | 6.40 | — | — | — | — |
| EV / FCF | — | — | — | 44.20 | 38.22 | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | -0.14% | +2.25% | — | — | — | — |
| Free cash flow yield | — | — | — | +2.30% | +3.05% | — | — | — | — |
| 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 | +30.29% | +31.99% | +30.48% | +31.89% | +24.94% | +28.67% | +28.72% | +28.81% | +29.66% |
| Operating margin | +1.87% | +6.72% | +9.22% | +7.86% | +13.48% | +10.44% | +10.39% | +10.30% | +10.38% |
| EBITDA margin | +16.99% | +29.62% | +24.64% | +15.80% | +25.75% | +21.96% | +21.44% | +22.38% | +22.23% |
| EBIT margin | -1.59% | +15.55% | +13.19% | +6.16% | +16.98% | +12.20% | +12.28% | +12.15% | +12.22% |
| Pre-tax margin | -7.35% | +9.76% | +6.55% | +0.47% | +16.35% | +7.58% | +7.59% | +7.63% | +7.57% |
| Net margin | -8.90% | +21.69% | +5.74% | -0.82% | +12.38% | +5.60% | +5.66% | +5.70% | +5.73% |
| Cost structure | |||||||||
| Cost of revenue / sales | +69.71% | +68.01% | +69.52% | +68.11% | +75.06% | +70.53% | +72.27% | +72.29% | +71.40% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +9.83% | +11.19% | +9.81% | +11.17% | +0.78% | +7.11% | +7.37% | +7.35% | +7.36% |
| Effective tax rate | — | -123.90% | +12.80% | +276.47% | +18.69% | +15.92% | +16.61% | +15.65% | +15.92% |
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) | -2.74% | +8.05% | +2.88% | -0.41% | +6.57% | +2.84% | +2.93% | +2.98% | +2.97% |
| Return on assets (ROA) | -1.63% | +5.07% | +1.80% | -0.26% | +3.60% | +1.72% | +1.76% | +1.75% | +1.76% |
| Return on capital (ROC) | +0.38% | +1.75% | +3.18% | +2.76% | +4.45% | +3.54% | +3.57% | +3.59% | +3.62% |
| Return on invested capital (ROIC) | +0.28% | +5.65% | +1.98% | +2.07% | +4.09% | +1.90% | +1.95% | +1.99% | +2.00% |
| Asset turnover | +18.31% | +23.36% | +31.38% | +31.07% | +29.11% | +30.64% | +31.04% | +30.66% | +30.72% |
| DuPont · ROE decomposition | |||||||||
| Net margin | -8.90% | +21.69% | +5.74% | -0.82% | +12.38% | +5.60% | +5.66% | +5.70% | +5.73% |
| Asset turnover (× revenue / assets) | +18.31% | +23.36% | +31.38% | +31.07% | +29.11% | +30.64% | +31.04% | +30.66% | +30.72% |
| Equity multiplier (× assets / equity) | +168.07% | +158.85% | +159.95% | +159.16% | +182.22% | +165.66% | +167.01% | +170.23% | +168.60% |
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 | 0.18 | 0.23 | 0.31 | 0.31 | 0.29 | 0.31 | 0.31 | 0.31 | 0.31 |
| Fixed-asset turnover | 17.95 | 6.31 | 3.84 | 4.51 | 5.16 | — | — | — | — |
| Inventory turnover | — | — | — | — | — | — | — | — | — |
| Receivables turnover | 32.36 | 20.92 | 26.20 | 32.04 | 19.57 | — | — | — | — |
| Payables turnover | 4.83 | 4.42 | 4.75 | 3.86 | 5.85 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 11.28 | 17.45 | 13.93 | 11.39 | 18.65 | — | — | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | 75.50 | 82.59 | 76.91 | 94.62 | 62.39 | — | — | — | — |
| Cash conversion cycle | -64.22 | -65.15 | -62.98 | -83.23 | -43.74 | — | — | — | — |
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 | -2.53 | 0.96 | 3.35 | -18.90 | 1.57 | 3.24 | 3.18 | 3.19 | 3.22 |
| FCF / Net income | -2.44 | 0.44 | 1.04 | -16.40 | 1.35 | 2.12 | 2.17 | 2.10 | 2.06 |
| FCF margin | +21.72% | +9.44% | +5.99% | +13.47% | +16.76% | +11.87% | +12.30% | +11.96% | +11.83% |
| OCF margin | +22.52% | +20.75% | +19.21% | +15.52% | +19.41% | +18.13% | +18.01% | +18.17% | +18.48% |
| CapEx / Revenue | +0.80% | +11.31% | +13.22% | +2.05% | +2.66% | +5.91% | +6.13% | +6.07% | +6.04% |
| CapEx / D&A | 0.04 | 0.80 | 1.15 | 0.21 | 0.30 | — | — | — | — |
| Stock-based comp / Revenue | +1.36% | +0.62% | +0.62% | +0.82% | +0.47% | — | — | — | — |
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 | -0.82 | 2.15 | 0.62 | -0.12 | 2.15 | 1.74 | 2.26 | 2.98 | 3.74 |
| EPS · basic | -0.82 | 2.39 | 0.79 | -0.13 | 2.22 | 1.94 | 2.58 | 3.38 | 4.25 |
| Book value / share | 29.91 | 28.42 | 27.36 | 30.78 | 33.79 | 37.38 | 40.40 | 42.68 | 46.50 |
| Tangible BV / share | -2.26 | -0.75 | -1.68 | 2.35 | -14.71 | 37.38 | 40.40 | 42.68 | 46.50 |
| Sales / share | 9.21 | 10.55 | 13.73 | 15.22 | 17.92 | 18.98 | 20.94 | 22.28 | 24.08 |
| Operating CF / share | 2.07 | 2.19 | 2.64 | 2.36 | 3.48 | 3.44 | 3.77 | 4.05 | 4.45 |
| Free cash flow / share | 2.00 | 1.00 | 0.82 | 2.05 | 3.00 | 2.25 | 2.58 | 2.66 | 2.85 |
| Dividends / share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Payout ratio | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Retention ratio | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% |
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 | — | +20.46% | +25.22% | +13.38% | +22.69% | +5.09% | +11.76% | +6.75% | +8.23% | +13.97% |
| Gross profit · YoY | — | +27.20% | +19.32% | +18.64% | -4.03% | +20.80% | +11.93% | +7.09% | +11.40% | +13.67% |
| Profit | ||||||||||
| Operating income · YoY | — | +332.50% | +71.68% | -3.37% | +110.45% | -18.62% | +11.22% | +5.84% | +9.05% | +41.17% |
| EBITDA · YoY | — | +109.92% | +4.20% | -27.33% | +100.00% | -10.39% | +9.13% | +11.43% | +7.48% | +17.86% |
| Net income · YoY | — | +393.68% | -66.85% | -116.22% | +1950.00% | -52.49% | +12.97% | +7.55% | +8.82% | — |
| Operating | ||||||||||
| EBIT · YoY | — | +1276.47% | +6.25% | -47.06% | +238.22% | -24.49% | +12.49% | +5.62% | +8.84% | — |
| R&D · YoY | — | — | — | — | — | — | — | — | — | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | +362.20% | -71.16% | -119.35% | +1891.67% | -19.26% | +30.11% | +31.77% | +25.66% | — |
| EPS · basic · YoY | — | +391.46% | -66.95% | -116.46% | +1807.69% | -12.68% | +33.24% | +30.96% | +25.73% | — |
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 | $3.63B | $2.95B | $2.91B | $2.99B | $5.12B | $4.62B | $5.14B | $5.36B | $5.69B |
| Net debt | $1.56B | $1.21B | $1.5B | $361M | $4.07B | $2.39B | $2.64B | $2.81B | $2.91B |
| Net debt / EBITDA | 4.29 | 1.59 | 1.89 | 0.63 | 3.53 | 2.32 | 2.34 | 2.24 | 2.16 |
| Debt / equity | 0.52 | 0.42 | 0.45 | 0.40 | 0.61 | 0.50 | 0.51 | 0.50 | 0.48 |
| Debt / assets | +31.13% | +26.75% | +28.30% | +25.44% | +33.28% | +30.05% | +30.31% | +29.25% | +28.73% |
| Equity / assets | +59.50% | +62.95% | +62.52% | +62.83% | +54.88% | +60.36% | +59.88% | +58.74% | +59.31% |
| Coverage | |||||||||
| EBITDA / interest expense | 2.95 | 5.11 | 3.71 | 2.77 | 41.21 | 5.16 | 4.84 | 5.34 | 5.00 |
| Operating income / interest | 0.33 | 1.16 | 1.39 | 1.38 | 21.57 | 2.45 | 2.34 | 2.46 | 2.34 |
| Interest expense | $123M | $149M | $214M | $208M | $28M | $200.45M | $233.25M | $235.51M | $270.1M |
| Liquidity | |||||||||
| Current ratio | 1.83 | 2.43 | 2.17 | 2.67 | 1.46 | — | — | — | — |
| Quick ratio | 1.65 | 2.23 | 1.95 | 2.43 | 1.37 | — | — | — | — |
| Cash ratio | 1.60 | 2.08 | 1.79 | 2.33 | 1.12 | — | — | — | — |
| Working capital | $1.07B | $1.19B | $924M | $1.89B | $434M | — | — | — | — |
| Working capital / revenue | +50.23% | +46.25% | +28.68% | +51.79% | +9.68% | — | — | — | — |
Sourced from key_metrics + financial_ratios (loaded by load_fundamentals_extended.py).
Valuation
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| P / E | — | — |
| P / B | — | — |
| EV / EBITDA | — | — |
| EV / Sales | 6.40x | 5.95x |
| Earnings yield | 2.3% | -0.1% |
| FCF yield | 3.0% | 2.3% |
Returns
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | — | — |
| ROE | 7.2% | -0.4% |
| ROA | 3.6% | -0.3% |
| ROIC | 3.4% | -4.8% |
Leverage & liquidity
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Debt / equity | — | — |
| Net debt / EBITDA | 3.53 | 0.63 |
| Interest coverage | — | — |
| Current ratio | 1.46x | 2.67x |
| Quick ratio | — | — |
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).