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 | +60.32% | +58.94% | +57.34% | +64.61% | +70.26% | +62.68% | +63.04% | +62.70% | +65.85% |
| Operating margin | +11.89% | +6.96% | -30.76% | +16.68% | +22.50% | +2.77% | +2.89% | +2.77% | +2.81% |
| EBITDA margin | +26.02% | +20.84% | -17.25% | +21.29% | +4.95% | +2.93% | +3.00% | +2.94% | +3.00% |
| EBIT margin | +11.86% | +7.38% | -30.44% | +16.16% | +1.31% | -4.29% | -4.37% | -4.34% | -4.42% |
| Pre-tax margin | +9.06% | +4.46% | -34.16% | +12.02% | -2.17% | -8.09% | -8.33% | -8.15% | -8.19% |
| Net margin | +6.68% | +3.47% | -29.77% | +9.32% | -6.86% | -8.87% | -8.94% | -8.92% | -8.84% |
| Cost structure | |||||||||
| Cost of revenue / sales | +39.68% | +41.06% | +42.66% | +35.39% | +29.74% | +36.97% | +36.03% | +34.89% | +36.83% |
| R&D intensity | +4.92% | +5.26% | +6.13% | +7.11% | +8.20% | +7.25% | +7.27% | +7.14% | +6.94% |
| SG&A intensity | +30.21% | +35.06% | +36.75% | +37.06% | +6.74% | +26.68% | +27.28% | +26.34% | +27.08% |
| Effective tax rate | +25.19% | +22.37% | — | +20.64% | — | — | — | — | — |
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) | — | — | -137.01% | +32.54% | -57.01% | -42.18% | -40.93% | -42.22% | -41.25% |
| Return on assets (ROA) | — | — | -22.77% | +6.08% | -5.81% | -6.50% | -6.49% | -6.54% | -6.68% |
| Return on capital (ROC) | — | — | -33.57% | +15.01% | +26.67% | +2.85% | +2.87% | +2.86% | +2.81% |
| Return on invested capital (ROIC) | — | — | -25.18% | +8.39% | +20.00% | +2.14% | +2.15% | +2.15% | +2.10% |
| Asset turnover | — | — | +76.49% | +65.23% | +84.68% | +73.27% | +72.54% | +73.29% | +75.54% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +6.68% | +3.47% | -29.77% | +9.32% | -6.86% | -8.87% | -8.94% | -8.92% | -8.84% |
| Asset turnover (× revenue / assets) | — | — | +76.49% | +65.23% | +84.68% | +73.27% | +72.54% | +73.29% | +75.54% |
| Equity multiplier (× assets / equity) | — | — | +601.74% | +535.05% | +981.79% | +649.05% | +631.09% | +645.81% | +617.70% |
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 | — | — | 0.76 | 0.65 | 0.85 | 0.73 | 0.73 | 0.73 | 0.76 |
| Fixed-asset turnover | — | — | 14.97 | 13.67 | 18.97 | — | — | — | — |
| Inventory turnover | — | — | 6.43 | 5.34 | 5.38 | — | — | — | — |
| Receivables turnover | — | — | 4.86 | 4.50 | 4.44 | — | — | — | — |
| Payables turnover | — | — | 6.27 | 4.29 | 4.17 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | — | — | 75.09 | 81.18 | 82.28 | — | — | — | — |
| Days inventory outstanding (DIO) | — | — | 56.78 | 68.38 | 67.83 | — | — | — | — |
| Days payables outstanding (DPO) | — | — | 58.25 | 85.16 | 87.57 | — | — | — | — |
| Cash conversion cycle | — | — | 73.62 | 64.40 | 62.54 | — | — | — | — |
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 | 1.91 | 1.83 | -0.49 | 2.20 | -2.77 | -2.00 | -1.98 | -1.98 | -2.02 |
| FCF / Net income | 1.60 | 0.98 | -0.35 | 1.97 | -2.57 | -1.76 | -1.72 | -1.73 | -1.71 |
| FCF margin | +10.67% | +3.39% | +10.32% | +18.38% | +17.65% | +15.65% | +15.34% | +15.41% | +15.09% |
| OCF margin | +12.74% | +6.37% | +14.50% | +20.49% | +19.00% | +17.73% | +17.71% | +17.66% | +17.87% |
| CapEx / Revenue | +2.07% | +2.97% | +4.18% | +2.11% | +1.35% | +2.49% | +2.57% | +2.47% | +2.51% |
| CapEx / D&A | 0.15 | 0.22 | 0.32 | 0.41 | 0.37 | — | — | — | — |
| Stock-based comp / Revenue | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — | — | — | — |
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 | 3.10 | 1.47 | -10.73 | 2.75 | -2.30 | 5.97 | 6.42 | 7.07 | 7.29 |
| EPS · basic | 3.11 | 1.47 | -10.73 | 2.77 | -2.30 | 6.06 | 6.42 | 7.04 | 7.31 |
| Book value / share | — | — | 7.83 | 8.45 | 4.03 | 7.41 | 8.28 | 8.24 | 8.75 |
| Tangible BV / share | — | — | -12.82 | -11.49 | -8.19 | 7.41 | 8.28 | 8.24 | 8.75 |
| Sales / share | 46.39 | 42.16 | 36.05 | 29.48 | 33.53 | 35.25 | 37.89 | 38.99 | 40.81 |
| Operating CF / share | 5.91 | 2.68 | 5.23 | 6.04 | 6.37 | 6.25 | 6.71 | 6.88 | 7.29 |
| Free cash flow / share | 4.95 | 1.43 | 3.72 | 5.42 | 5.92 | 5.52 | 5.81 | 6.01 | 6.16 |
| Dividends / share | 2.71 | 2.77 | 2.80 | 2.78 | 2.80 | 3.06 | 3.22 | 3.34 | 3.39 |
| Payout ratio | +87.36% | +189.34% | -26.05% | +101.12% | -121.74% | -98.02% | -95.13% | -96.11% | -93.98% |
| Retention ratio | +12.64% | -89.34% | +126.05% | -1.12% | +221.74% | +198.02% | +195.13% | +196.11% | +193.98% |
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 | — | -8.78% | -14.57% | -17.34% | +13.68% | +5.99% | +6.25% | +3.04% | +4.21% | -1.51% |
| Gross profit · YoY | — | -10.86% | -16.89% | -6.87% | +23.64% | -5.45% | +6.86% | +2.49% | +9.45% | -0.42% |
| Profit | ||||||||||
| Operating income · YoY | — | -46.59% | -477.43% | +144.84% | +53.33% | -86.95% | +10.87% | -1.47% | +6.08% | -17.74% |
| EBITDA · YoY | — | -26.92% | -170.72% | +202.00% | -73.57% | -37.17% | +8.81% | +0.78% | +6.26% | -24.83% |
| Net income · YoY | — | -52.53% | -831.84% | +125.89% | -183.61% | -37.08% | -7.10% | -2.79% | -3.29% | — |
| Operating | ||||||||||
| EBIT · YoY | — | -43.21% | -452.09% | +143.88% | -90.81% | -447.85% | -8.42% | -2.31% | -6.02% | — |
| R&D · YoY | — | -2.47% | -0.32% | -4.17% | +31.11% | -6.27% | +6.52% | +1.12% | +1.39% | +2.83% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -52.58% | -829.93% | +125.63% | -183.64% | +359.74% | +7.52% | +10.08% | +3.10% | +11.28% |
| EPS · basic · YoY | — | -52.73% | -829.93% | +125.82% | -183.03% | +363.59% | +5.84% | +9.76% | +3.79% | +11.27% |
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 | — | — | $3.5B | $3.41B | $3.4B | $3.8B | $4.18B | $4.12B | $4.49B |
| Net debt | — | — | $2.95B | $2.72B | $2.62B | $2.95B | $3.28B | $3.23B | $3.55B |
| Net debt / EBITDA | — | — | -3.42 | 3.08 | 11.28 | 20.18 | 20.62 | 20.15 | 20.83 |
| Debt / equity | — | — | 3.22 | 2.88 | 6.01 | 3.63 | 3.62 | 3.58 | 3.68 |
| Debt / assets | — | — | +53.45% | +53.79% | +61.26% | +55.86% | +57.29% | +55.37% | +59.60% |
| Equity / assets | — | — | +16.62% | +18.69% | +10.19% | +15.41% | +15.85% | +15.48% | +16.19% |
| Coverage | |||||||||
| EBITDA / interest expense | 9.29 | 7.14 | -4.63 | 5.14 | 1.42 | 0.78 | 0.78 | 0.76 | 0.80 |
| Operating income / interest | 4.25 | 2.38 | -8.26 | 4.03 | 6.47 | 0.74 | 0.75 | 0.72 | 0.75 |
| Interest expense | $179.7M | $171M | $186.3M | $171.2M | $163.4M | $187.43M | $204.97M | $210.89M | $212.6M |
| Liquidity | |||||||||
| Current ratio | — | — | 1.13 | 1.60 | 1.38 | — | — | — | — |
| Quick ratio | — | — | 0.77 | 1.15 | 1.04 | — | — | — | — |
| Cash ratio | — | — | 0.26 | 0.50 | 0.42 | — | — | — | — |
| Working capital | — | — | $267.2M | $841.2M | $712.6M | — | — | — | — |
| Working capital / revenue | — | — | +5.34% | +20.34% | +15.16% | — | — | — | — |
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).