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 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| 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 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +30.18% | +28.88% | +22.79% | +22.25% | +25.73% | +22.91% | +24.24% | +23.89% | +23.13% |
| Operating margin | +12.48% | +6.61% | +10.43% | +9.65% | +10.04% | +9.94% | +10.04% | +9.77% | +10.30% |
| EBITDA margin | +19.75% | +14.65% | +15.10% | +16.70% | +17.16% | +16.01% | +16.12% | +16.31% | +16.25% |
| EBIT margin | +14.30% | +9.10% | +9.08% | +10.65% | +11.57% | +10.57% | +10.75% | +10.74% | +10.73% |
| Pre-tax margin | +12.82% | +7.46% | +6.29% | +7.49% | +8.84% | +7.46% | +7.63% | +7.41% | +7.74% |
| Net margin | +10.36% | +6.22% | +6.32% | +7.04% | +7.35% | +7.11% | +7.10% | +6.84% | +6.77% |
| Cost structure | |||||||||
| Cost of revenue / sales | +69.82% | +71.12% | +77.21% | +77.75% | +74.27% | +74.68% | +76.29% | +76.39% | +76.47% |
| R&D intensity | +3.88% | +3.53% | +2.47% | +2.42% | 0.00% | +1.63% | +1.61% | +1.63% | +1.66% |
| SG&A intensity | +18.41% | +17.57% | +9.89% | +16.73% | +15.69% | +14.15% | +13.93% | +14.45% | +14.02% |
| Effective tax rate | +19.27% | +16.65% | +1.88% | +5.32% | +16.87% | +8.24% | +8.15% | +7.94% | +8.03% |
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 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +9.56% | +5.70% | +6.52% | +7.67% | +8.18% | +7.55% | +7.73% | +7.57% | +7.24% |
| Return on assets (ROA) | +5.32% | +3.17% | +2.94% | +3.58% | +3.90% | +3.64% | +3.51% | +3.45% | +3.31% |
| Return on capital (ROC) | +8.19% | +4.27% | +6.18% | +6.32% | +7.30% | +6.47% | +6.60% | +6.49% | +6.69% |
| Return on invested capital (ROIC) | +6.80% | +4.02% | +3.74% | +4.61% | +5.34% | +4.63% | +4.67% | +4.54% | +4.40% |
| Asset turnover | +51.32% | +50.89% | +46.58% | +50.77% | +53.08% | +51.18% | +49.40% | +50.50% | +48.90% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +10.36% | +6.22% | +6.32% | +7.04% | +7.35% | +7.11% | +7.10% | +6.84% | +6.77% |
| Asset turnover (× revenue / assets) | +51.32% | +50.89% | +46.58% | +50.77% | +53.08% | +51.18% | +49.40% | +50.50% | +48.90% |
| Equity multiplier (× assets / equity) | +179.66% | +180.00% | +221.40% | +214.52% | +209.80% | +207.40% | +220.25% | +219.16% | +218.61% |
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 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 0.51 | 0.51 | 0.47 | 0.51 | 0.53 | 0.51 | 0.49 | 0.50 | 0.49 |
| Fixed-asset turnover | 6.21 | 5.97 | 5.39 | 7.60 | 8.20 | — | — | — | — |
| Inventory turnover | 12.67 | 9.40 | 10.19 | 12.47 | 13.32 | — | — | — | — |
| Receivables turnover | 4.28 | 3.99 | 4.39 | 4.56 | 4.38 | — | — | — | — |
| Payables turnover | 7.04 | 6.24 | 7.12 | 8.27 | 6.60 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 85.32 | 91.52 | 83.19 | 80.12 | 83.30 | — | — | — | — |
| Days inventory outstanding (DIO) | 28.82 | 38.83 | 35.84 | 29.28 | 27.40 | — | — | — | — |
| Days payables outstanding (DPO) | 51.85 | 58.50 | 51.27 | 44.14 | 55.31 | — | — | — | — |
| Cash conversion cycle | 62.28 | 71.85 | 67.76 | 65.26 | 55.39 | — | — | — | — |
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 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 1.46 | 2.03 | 1.71 | 1.70 | 1.93 | 1.78 | 1.72 | 1.76 | 1.80 |
| FCF / Net income | 1.27 | 1.79 | 1.34 | 1.43 | 1.67 | 1.45 | 1.45 | 1.52 | 1.48 |
| FCF margin | +13.16% | +11.17% | +8.48% | +10.09% | +12.27% | +10.32% | +10.32% | +10.43% | +10.01% |
| OCF margin | +15.08% | +12.65% | +10.79% | +12.00% | +14.21% | +12.64% | +12.18% | +12.02% | +12.19% |
| CapEx / Revenue | +1.92% | +1.48% | +2.31% | +1.91% | +1.94% | +2.00% | +2.02% | +2.02% | +2.03% |
| CapEx / D&A | 0.35 | 0.27 | 0.39 | 0.32 | 0.35 | — | — | — | — |
| Stock-based comp / Revenue | +1.95% | +1.90% | +1.65% | +0.45% | 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 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 9.08 | 5.49 | 6.44 | 7.87 | 8.53 | 11.62 | 13.66 | 15.78 | 17.79 |
| EPS · basic | 9.17 | 5.54 | 6.47 | 7.91 | 8.57 | 11.81 | 13.82 | 15.63 | 18.05 |
| Book value / share | 95.07 | 96.25 | 98.79 | 102.67 | 104.22 | 118.75 | 124.20 | 131.05 | 148.51 |
| Tangible BV / share | -27.12 | -24.08 | -50.84 | -43.97 | -36.54 | 118.75 | 124.20 | 131.05 | 148.51 |
| Sales / share | 87.67 | 88.18 | 101.88 | 111.82 | 116.06 | 126.05 | 135.13 | 145.03 | 158.75 |
| Operating CF / share | 13.22 | 11.15 | 11.00 | 13.42 | 16.49 | 15.93 | 16.47 | 17.43 | 19.36 |
| Free cash flow / share | 11.54 | 9.85 | 8.64 | 11.28 | 14.24 | 13.00 | 13.94 | 15.13 | 15.89 |
| Dividends / share | 4.02 | 4.47 | 4.55 | 4.65 | 4.79 | 5.25 | 5.83 | 6.30 | 6.57 |
| Payout ratio | +44.26% | +81.36% | +70.74% | +58.99% | +56.23% | +58.65% | +60.69% | +63.47% | +61.16% |
| Retention ratio | +55.74% | +18.64% | +29.26% | +41.01% | +43.77% | +41.35% | +39.31% | +36.53% | +38.84% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | -4.22% | +13.81% | +9.82% | +2.53% | +7.72% | +8.05% | +7.84% | +8.26% | +6.60% |
| Gross profit · YoY | — | -8.35% | -10.17% | +7.21% | +18.55% | -4.06% | +14.32% | +6.28% | +4.81% | +3.12% |
| Profit | ||||||||||
| Operating income · YoY | — | -49.33% | +79.68% | +1.63% | +6.66% | +6.64% | +9.13% | +4.98% | +14.15% | +4.07% |
| EBITDA · YoY | — | -28.97% | +17.33% | +21.45% | +5.39% | +0.50% | +8.75% | +9.11% | +7.88% | +4.04% |
| Net income · YoY | — | -42.47% | +15.54% | +22.41% | +6.92% | +4.25% | +7.97% | +3.86% | +7.17% | +1.08% |
| Operating | ||||||||||
| EBIT · YoY | — | -39.09% | +13.66% | +28.80% | +11.31% | -1.53% | +9.81% | +7.79% | +8.15% | +2.84% |
| R&D · YoY | — | -12.86% | -20.40% | +7.29% | -100.00% | — | +6.85% | +9.25% | +10.51% | -4.12% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -39.54% | +17.30% | +22.20% | +8.39% | +36.28% | +17.55% | +15.49% | +12.69% | +8.77% |
| EPS · basic · YoY | — | -39.59% | +16.79% | +22.26% | +8.34% | +37.76% | +17.05% | +13.10% | +15.49% | +8.83% |
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 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $7.83B | $7.79B | $13.95B | $12.98B | $10.44B | $14.01B | $15.33B | $16.53B | $17.96B |
| Net debt | $6.89B | $6.91B | $13.39B | $12.37B | $9.37B | $13.17B | $14.42B | $15.55B | $16.93B |
| Net debt / EBITDA | 1.96 | 2.76 | 4.57 | 3.47 | 2.50 | 3.49 | 3.52 | 3.47 | 3.51 |
| Debt / equity | 0.41 | 0.42 | 0.74 | 0.66 | 0.53 | 0.63 | 0.66 | 0.67 | 0.65 |
| Debt / assets | +22.56% | +23.23% | +33.46% | +30.90% | +25.35% | +30.43% | +29.76% | +30.42% | +29.56% |
| Equity / assets | +55.66% | +55.55% | +45.17% | +46.62% | +47.66% | +48.21% | +45.40% | +45.63% | +45.74% |
| Coverage | |||||||||
| EBITDA / interest expense | 13.28 | 8.96 | 5.40 | 5.28 | 6.29 | 5.41 | 5.40 | 5.72 | 5.52 |
| Operating income / interest | 8.39 | 4.04 | 3.73 | 3.05 | 3.68 | 3.35 | 3.37 | 3.43 | 3.50 |
| Interest expense | $265M | $279M | $543M | $675M | $597M | $697.73M | $759.12M | $782.53M | $875.06M |
| Liquidity | |||||||||
| Current ratio | 1.40 | 1.17 | 0.99 | 1.08 | 1.19 | — | — | — | — |
| Quick ratio | 1.12 | 0.89 | 0.62 | 0.69 | 0.84 | — | — | — | — |
| Cash ratio | 0.21 | 0.15 | 0.07 | 0.08 | 0.15 | — | — | — | — |
| Working capital | $1.81B | $978M | -$92M | $585M | $1.37B | — | — | — | — |
| Working capital / revenue | +10.15% | +5.73% | -0.47% | +2.74% | +6.25% | — | — | — | — |
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).