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 | +36.25% | +38.41% | +39.42% | +38.96% | +39.06% | +39.57% | +39.59% | +39.53% | +38.69% |
| Operating margin | +11.88% | +14.55% | +15.57% | +15.36% | +15.00% | +15.32% | +15.21% | +15.17% | +15.67% |
| EBITDA margin | +13.35% | +15.79% | +17.03% | +16.88% | +15.41% | +16.33% | +16.60% | +16.74% | +16.33% |
| EBIT margin | +11.92% | +14.47% | +15.74% | +15.50% | +14.00% | +14.83% | +15.06% | +14.80% | +14.76% |
| Pre-tax margin | +11.40% | +14.09% | +15.17% | +15.05% | +13.54% | +14.39% | +14.66% | +14.71% | +14.42% |
| Net margin | +8.01% | +10.16% | +11.10% | +11.12% | +9.51% | +10.81% | +10.64% | +10.46% | +10.39% |
| Cost structure | |||||||||
| Cost of revenue / sales | +63.75% | +61.59% | +60.58% | +61.04% | +60.94% | +61.85% | +60.78% | +61.18% | +59.19% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +24.37% | +23.86% | +23.86% | +23.39% | +24.07% | +23.95% | +24.00% | +23.22% | +23.73% |
| Effective tax rate | +24.98% | +24.84% | +23.88% | +23.03% | +25.60% | +24.66% | +23.56% | +23.61% | +24.76% |
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) | +48.29% | +56.56% | +53.15% | +51.55% | +41.20% | +50.58% | +49.74% | +48.70% | +46.95% |
| Return on assets (ROA) | +15.82% | +20.39% | +22.45% | +21.62% | +19.04% | +21.17% | +20.74% | +20.57% | +20.99% |
| Return on capital (ROC) | +31.43% | +40.72% | +41.42% | +38.30% | +36.84% | +39.18% | +39.32% | +38.30% | +39.72% |
| Return on invested capital (ROIC) | +21.19% | +28.44% | +29.53% | +27.72% | +23.36% | +27.65% | +27.50% | +26.40% | +26.35% |
| Asset turnover | +197.54% | +200.69% | +202.26% | +194.45% | +200.20% | +195.72% | +194.96% | +196.71% | +201.99% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +8.01% | +10.16% | +11.10% | +11.12% | +9.51% | +10.81% | +10.64% | +10.46% | +10.39% |
| Asset turnover (× revenue / assets) | +197.54% | +200.69% | +202.26% | +194.45% | +200.20% | +195.72% | +194.96% | +196.71% | +201.99% |
| Equity multiplier (× assets / equity) | +305.19% | +277.44% | +236.76% | +238.43% | +216.42% | +238.99% | +239.86% | +236.70% | +223.63% |
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 | 1.98 | 2.01 | 2.02 | 1.94 | 2.00 | 1.96 | 1.95 | 1.97 | 2.02 |
| Fixed-asset turnover | 7.17 | 8.33 | 7.90 | 7.47 | 6.87 | — | — | — | — |
| Inventory turnover | 4.44 | 4.16 | 4.41 | 4.54 | 4.57 | — | — | — | — |
| Receivables turnover | 7.42 | 7.14 | 7.52 | 7.69 | 7.70 | — | — | — | — |
| Payables turnover | 10.17 | 8.96 | 10.46 | 11.01 | 11.35 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 49.16 | 51.13 | 48.55 | 47.45 | 47.38 | — | — | — | — |
| Days inventory outstanding (DIO) | 82.22 | 87.68 | 82.86 | 80.31 | 79.92 | — | — | — | — |
| Days payables outstanding (DPO) | 35.88 | 40.75 | 34.88 | 33.16 | 32.15 | — | — | — | — |
| Cash conversion cycle | 95.50 | 98.06 | 96.53 | 94.61 | 95.15 | — | — | — | — |
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 | 0.90 | 0.86 | 1.11 | 1.11 | 1.18 | 1.07 | 1.10 | 1.15 | 1.17 |
| FCF / Net income | 0.65 | 0.70 | 0.87 | 0.82 | 0.78 | 0.78 | 0.80 | 0.84 | 0.82 |
| FCF margin | +5.24% | +7.07% | +9.62% | +9.14% | +7.42% | +8.47% | +8.47% | +8.84% | +8.52% |
| OCF margin | +7.20% | +8.75% | +12.33% | +12.30% | +11.23% | +11.61% | +11.71% | +12.07% | +12.19% |
| CapEx / Revenue | +1.96% | +1.68% | +2.70% | +3.15% | +3.81% | +3.13% | +3.28% | +3.26% | +3.19% |
| CapEx / D&A | 1.36 | 1.25 | 2.08 | 2.28 | 2.69 | — | — | — | — |
| Stock-based comp / Revenue | +0.32% | +0.32% | +0.38% | +0.36% | +0.36% | — | — | — | — |
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 | 19.98 | 30.27 | 36.51 | 38.71 | 35.40 | 45.62 | 50.33 | 54.47 | 59.09 |
| EPS · basic | 20.10 | 30.39 | 36.65 | 39.04 | 35.47 | 45.95 | 50.28 | 54.73 | 59.36 |
| Book value / share | 41.38 | 53.52 | 68.68 | 75.57 | 86.27 | 86.42 | 92.91 | 97.94 | 107.03 |
| Tangible BV / share | 29.46 | 41.72 | 56.63 | 63.37 | 73.25 | 86.42 | 92.91 | 97.94 | 107.03 |
| Sales / share | 249.46 | 298.00 | 328.90 | 350.37 | 373.79 | 404.21 | 434.44 | 456.06 | 483.48 |
| Operating CF / share | 17.95 | 26.09 | 40.54 | 43.08 | 41.98 | 46.92 | 50.86 | 55.03 | 58.92 |
| Free cash flow / share | 13.07 | 21.08 | 31.66 | 32.04 | 27.73 | 34.24 | 36.81 | 40.30 | 41.18 |
| Dividends / share | 6.84 | 7.24 | 7.82 | 8.59 | 9.73 | 9.73 | 10.77 | 11.34 | 11.89 |
| Payout ratio | +34.23% | +23.92% | +21.43% | +22.05% | +27.37% | +22.27% | +23.30% | +23.78% | +23.67% |
| Retention ratio | +65.77% | +76.08% | +78.57% | +77.95% | +72.63% | +77.73% | +76.70% | +76.22% | +76.33% |
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 | — | +16.94% | +8.21% | +4.19% | +4.51% | +8.43% | +6.70% | +5.94% | +6.35% | +7.59% |
| Gross profit · YoY | — | +23.92% | +11.06% | +2.96% | +4.80% | +9.82% | +6.77% | +5.77% | +4.09% | +8.47% |
| Profit | ||||||||||
| Operating income · YoY | — | +43.18% | +15.80% | +2.81% | +2.05% | +10.75% | +5.94% | +5.68% | +9.82% | +11.38% |
| EBITDA · YoY | — | +38.32% | +16.76% | +3.24% | -4.59% | +14.90% | +8.48% | +6.80% | +3.77% | +10.34% |
| Net income · YoY | — | +48.32% | +18.23% | +4.37% | -10.63% | +23.32% | +4.96% | +4.15% | +5.69% | +11.16% |
| Operating | ||||||||||
| EBIT · YoY | — | +42.01% | +17.65% | +2.62% | -5.64% | +14.92% | +8.32% | +4.11% | +6.10% | +10.51% |
| R&D · YoY | — | — | — | — | — | — | — | — | — | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | +51.50% | +20.61% | +6.03% | -8.55% | +28.86% | +10.34% | +8.21% | +8.48% | +14.51% |
| EPS · basic · YoY | — | +51.19% | +20.60% | +6.52% | -9.14% | +29.53% | +9.43% | +8.85% | +8.45% | +14.49% |
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 | $2.76B | $2.71B | $2.75B | $3.18B | $3.16B | $3.45B | $3.59B | $3.99B | $4.05B |
| Net debt | $2.52B | $2.38B | $2.09B | $2.15B | $2.58B | $2.58B | $2.68B | $2.99B | $3.04B |
| Net debt / EBITDA | 1.45 | 0.99 | 0.75 | 0.74 | 0.93 | 0.81 | 0.78 | 0.81 | 0.80 |
| Debt / equity | 1.28 | 0.99 | 0.80 | 0.86 | 0.76 | 0.83 | 0.81 | 0.84 | 0.78 |
| Debt / assets | +41.90% | +35.65% | +33.78% | +36.05% | +35.29% | +34.69% | +33.73% | +35.69% | +34.96% |
| Equity / assets | +32.77% | +36.04% | +42.24% | +41.94% | +46.21% | +41.84% | +41.69% | +42.25% | +44.72% |
| Coverage | |||||||||
| EBITDA / interest expense | 19.98 | 25.85 | 30.18 | 37.64 | 34.14 | 33.40 | 33.35 | 34.35 | 33.10 |
| Operating income / interest | 17.78 | 23.82 | 27.58 | 34.25 | 33.22 | 31.33 | 30.55 | 31.13 | 31.76 |
| Interest expense | $87M | $93M | $93M | $77M | $81M | $95.13M | $103.35M | $107.17M | $115.4M |
| Liquidity | |||||||||
| Current ratio | 2.63 | 2.48 | 2.88 | 2.49 | 2.83 | — | — | — | — |
| Quick ratio | 1.31 | 1.22 | 1.56 | 1.42 | 1.50 | — | — | — | — |
| Cash ratio | 0.16 | 0.16 | 0.36 | 0.45 | 0.30 | — | — | — | — |
| Working capital | $2.48B | $2.97B | $3.44B | $3.43B | $3.54B | — | — | — | — |
| Working capital / revenue | +19.07% | +19.48% | +20.89% | +19.99% | +19.75% | — | — | — | — |
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).