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 | +69.50% | +69.07% | +67.78% | +67.72% | +67.66% | +67.65% | +68.42% | +67.25% | +68.72% |
| Operating margin | +19.34% | +20.09% | +20.94% | +18.45% | +15.79% | +18.77% | +18.89% | +18.61% | +18.29% |
| EBITDA margin | +27.48% | +24.57% | +24.90% | +27.46% | +18.92% | +23.63% | +23.18% | +23.09% | +23.64% |
| EBIT margin | +22.99% | +21.06% | +21.67% | +24.23% | +15.83% | +20.62% | +20.57% | +20.21% | +20.40% |
| Pre-tax margin | +20.49% | +18.76% | +19.42% | +22.14% | +14.90% | +19.26% | +19.08% | +19.26% | +19.11% |
| Net margin | +16.76% | +14.75% | +14.94% | +20.00% | +11.22% | +14.94% | +15.57% | +15.26% | +15.03% |
| Cost structure | |||||||||
| Cost of revenue / sales | +30.50% | +30.93% | +32.22% | +32.28% | +32.34% | +32.09% | +31.58% | +31.82% | +33.12% |
| R&D intensity | +0.73% | 0.00% | 0.00% | 0.00% | +16.11% | +5.46% | +5.33% | +5.28% | +5.43% |
| SG&A intensity | +45.54% | +45.31% | +45.73% | +46.03% | +47.21% | +46.96% | +45.92% | +45.37% | +47.22% |
| Effective tax rate | +18.17% | +21.36% | +23.07% | +9.63% | +24.68% | +18.39% | +18.41% | +18.72% | +19.23% |
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) | +213.86% | +354.61% | +129.65% | +92.24% | +227.93% | +122.09% | +126.60% | +120.12% | +120.42% |
| Return on assets (ROA) | +10.70% | +11.07% | +11.26% | +14.69% | +9.02% | +11.31% | +11.72% | +11.51% | +11.18% |
| Return on capital (ROC) | +25.29% | +32.49% | +32.98% | +27.15% | +26.05% | +29.64% | +30.42% | +28.91% | +28.39% |
| Return on invested capital (ROIC) | +21.91% | +23.86% | +23.53% | +29.44% | +18.52% | +23.60% | +25.08% | +23.71% | +23.32% |
| Asset turnover | +63.83% | +75.01% | +75.38% | +73.43% | +80.36% | +75.72% | +75.26% | +75.40% | +74.41% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +16.76% | +14.75% | +14.94% | +20.00% | +11.22% | +14.94% | +15.57% | +15.26% | +15.03% |
| Asset turnover (× revenue / assets) | +63.83% | +75.01% | +75.38% | +73.43% | +80.36% | +75.72% | +75.26% | +75.40% | +74.41% |
| Equity multiplier (× assets / equity) | +1998.70% | +3204.48% | +1151.27% | +627.93% | +2527.41% | +1079.05% | +1080.42% | +1043.91% | +1077.06% |
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 | 0.64 | 0.75 | 0.75 | 0.73 | 0.80 | 0.76 | 0.75 | 0.75 | 0.74 |
| Fixed-asset turnover | 5.76 | 7.81 | 9.38 | 12.53 | 15.17 | — | — | — | — |
| Inventory turnover | — | — | — | — | — | — | — | — | — |
| Receivables turnover | 3.47 | 3.52 | 3.69 | 3.69 | 3.86 | — | — | — | — |
| Payables turnover | 29.31 | 20.35 | 30.14 | 36.26 | 42.22 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 105.26 | 103.77 | 98.94 | 98.78 | 94.63 | — | — | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | 12.45 | 17.93 | 12.11 | 10.07 | 8.65 | — | — | — | — |
| Cash conversion cycle | 92.80 | 85.84 | 86.83 | 88.72 | 85.99 | — | — | — | — |
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 | 1.65 | 1.36 | 1.31 | 1.18 | 1.77 | 1.41 | 1.37 | 1.40 | 1.39 |
| FCF / Net income | 1.58 | 1.23 | 1.19 | 1.10 | 1.61 | 1.26 | 1.23 | 1.29 | 1.30 |
| FCF margin | +26.46% | +18.14% | +17.82% | +22.07% | +18.09% | +18.88% | +19.21% | +19.74% | +19.55% |
| OCF margin | +27.72% | +20.11% | +19.57% | +23.69% | +19.86% | +21.01% | +21.35% | +21.31% | +20.88% |
| CapEx / Revenue | +1.26% | +1.97% | +1.75% | +1.62% | +1.77% | +1.67% | +1.75% | +1.70% | +1.68% |
| CapEx / D&A | 0.28 | 0.56 | 0.54 | 0.50 | 0.57 | — | — | — | — |
| Stock-based comp / Revenue | +2.08% | +1.65% | +2.20% | +2.47% | +2.40% | — | — | — | — |
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 | 9.21 | 9.96 | 11.08 | 16.00 | 9.65 | 13.70 | 15.41 | 17.61 | 25.57 |
| EPS · basic | 9.33 | 10.08 | 11.17 | 16.12 | 9.68 | 13.67 | 15.33 | 17.92 | 25.63 |
| Book value / share | 4.31 | 2.81 | 8.54 | 17.35 | 4.44 | 10.85 | 11.48 | 12.53 | 12.68 |
| Tangible BV / share | -38.23 | -40.55 | -34.62 | -25.28 | -38.24 | 10.85 | 11.48 | 12.53 | 12.68 |
| Sales / share | 54.93 | 67.55 | 74.13 | 80.00 | 90.11 | 88.68 | 93.38 | 98.61 | 101.62 |
| Operating CF / share | 15.23 | 13.59 | 14.50 | 18.96 | 17.90 | 18.63 | 19.93 | 21.01 | 21.22 |
| Free cash flow / share | 14.54 | 12.25 | 13.21 | 17.66 | 16.30 | 16.74 | 17.94 | 19.47 | 19.87 |
| 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 | — | +15.67% | +7.87% | +6.10% | +3.67% | -0.74% | +4.60% | +6.27% | +2.24% | +5.62% |
| Gross profit · YoY | — | +14.96% | +5.86% | +6.01% | +3.57% | -0.75% | +5.78% | +4.45% | +4.48% | +5.47% |
| Profit | ||||||||||
| Operating income · YoY | — | +20.13% | +12.43% | -6.52% | -11.30% | +18.01% | +5.27% | +4.69% | +0.50% | +4.88% |
| EBITDA · YoY | — | +3.43% | +9.34% | +16.98% | -28.58% | +24.01% | +2.60% | +5.84% | +4.70% | +3.65% |
| Net income · YoY | — | +1.79% | +9.24% | +42.07% | -41.84% | +32.17% | +8.98% | +4.17% | +0.66% | +4.18% |
| Operating | ||||||||||
| EBIT · YoY | — | +5.97% | +10.97% | +18.64% | -32.25% | +29.26% | +4.34% | +4.40% | +3.24% | +4.05% |
| R&D · YoY | — | -100.00% | — | — | — | -66.37% | +2.18% | +5.22% | +5.18% | +35.71% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | +8.14% | +11.24% | +44.40% | -39.69% | +41.97% | +12.49% | +14.24% | +45.26% | +13.62% |
| EPS · basic · YoY | — | +8.04% | +10.81% | +44.32% | -39.95% | +41.25% | +12.10% | +16.94% | +42.98% | +13.46% |
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 | $3.25B | $3.16B | $3.07B | $2.9B | $3.62B | $3.29B | $3.36B | $3.7B | $3.81B |
| Net debt | $2.49B | $2.46B | $1.75B | $966.86M | $1.9B | $1.54B | $1.53B | $1.79B | $1.87B |
| Net debt / EBITDA | 1.92 | 1.83 | 1.19 | 0.56 | 1.54 | 1.01 | 0.98 | 1.08 | 1.08 |
| Debt / equity | 8.76 | 13.86 | 4.51 | 2.13 | 11.31 | 4.17 | 4.05 | 4.07 | 4.16 |
| Debt / assets | +43.83% | +43.27% | +39.18% | +33.98% | +44.75% | +38.67% | +37.48% | +38.95% | +38.66% |
| Equity / assets | +5.00% | +3.12% | +8.69% | +15.93% | +3.96% | +9.27% | +9.26% | +9.58% | +9.28% |
| Coverage | |||||||||
| EBITDA / interest expense | 10.98 | 10.66 | 11.08 | 13.13 | 10.97 | 11.44 | 11.76 | 11.73 | 12.05 |
| Operating income / interest | 7.73 | 8.72 | 9.32 | 8.82 | 9.15 | 9.08 | 9.58 | 9.46 | 9.33 |
| Interest expense | $118.51M | $126.2M | $132.77M | $131.05M | $112.07M | $133.25M | $132.98M | $141.05M | $143.75M |
| Liquidity | |||||||||
| Current ratio | 0.78 | 0.77 | 0.91 | 1.06 | 1.00 | — | — | — | — |
| Quick ratio | 0.63 | 0.63 | 0.77 | 0.91 | 0.84 | — | — | — | — |
| Cash ratio | 0.22 | 0.19 | 0.35 | 0.49 | 0.42 | — | — | — | — |
| Working capital | -$758.7M | -$811.49M | -$349.83M | $227.52M | -$5.76M | — | — | — | — |
| Working capital / revenue | -16.03% | -14.82% | -5.92% | +3.63% | -0.09% | — | — | — | — |
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).