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 | +28.34% | +27.23% | +31.07% | +33.17% | +33.02% | +31.97% | +31.90% | +32.21% | +31.51% |
| Operating margin | +14.07% | +13.91% | +15.86% | +19.37% | +19.55% | +18.58% | +18.67% | +18.64% | +18.66% |
| EBITDA margin | +15.70% | +15.55% | +17.65% | +21.21% | +21.49% | +19.53% | +20.18% | +20.49% | +19.69% |
| EBIT margin | +13.97% | +13.89% | +15.93% | +19.43% | +19.48% | +17.97% | +17.91% | +17.93% | +18.32% |
| Pre-tax margin | +13.35% | +13.05% | +14.80% | +18.61% | +18.69% | +17.60% | +16.96% | +17.77% | +17.73% |
| Net margin | +11.06% | +10.54% | +11.84% | +15.11% | +15.13% | +13.85% | +13.78% | +13.96% | +14.17% |
| Cost structure | |||||||||
| Cost of revenue / sales | +71.66% | +72.77% | +68.93% | +66.83% | +66.98% | +66.06% | +68.42% | +66.32% | +65.74% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +14.28% | +13.29% | +14.16% | +13.68% | +13.12% | +13.86% | +13.28% | +13.26% | +13.33% |
| Effective tax rate | +17.16% | +19.28% | +19.99% | +18.81% | +19.02% | +18.48% | +19.83% | +18.49% | +18.57% |
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) | -172.49% | -244.76% | +206.83% | +94.91% | +67.60% | +96.12% | +96.98% | +101.11% | +99.96% |
| Return on assets (ROA) | +21.36% | +19.36% | +21.09% | +23.24% | +19.26% | +20.38% | +20.10% | +20.41% | +20.72% |
| Return on capital (ROC) | +50.51% | +42.42% | +43.59% | +44.24% | +31.47% | +39.58% | +39.29% | +40.45% | +40.48% |
| Return on invested capital (ROIC) | +39.71% | +32.14% | +32.56% | +34.50% | +24.36% | +29.52% | +29.01% | +30.30% | +30.75% |
| Asset turnover | +193.11% | +183.77% | +178.03% | +153.85% | +127.28% | +147.12% | +145.84% | +146.25% | +146.18% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +11.06% | +10.54% | +11.84% | +15.11% | +15.13% | +13.85% | +13.78% | +13.96% | +14.17% |
| Asset turnover (× revenue / assets) | +193.11% | +183.77% | +178.03% | +153.85% | +127.28% | +147.12% | +145.84% | +146.25% | +146.18% |
| Equity multiplier (× assets / equity) | -807.40% | -1264.20% | +980.83% | +408.35% | +350.94% | +471.63% | +482.46% | +495.29% | +482.45% |
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 | 1.93 | 1.84 | 1.78 | 1.54 | 1.27 | 1.47 | 1.46 | 1.46 | 1.46 |
| Fixed-asset turnover | 5.90 | 6.14 | 5.33 | 4.74 | 4.18 | — | — | — | — |
| Inventory turnover | 5.88 | 4.56 | 4.91 | 5.06 | 3.02 | — | — | — | — |
| Receivables turnover | 8.25 | 7.75 | 8.38 | 8.08 | 8.98 | — | — | — | — |
| Payables turnover | 7.48 | 8.04 | 9.16 | 7.28 | 7.95 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 44.24 | 47.07 | 43.56 | 45.18 | 40.66 | — | — | — | — |
| Days inventory outstanding (DIO) | 62.04 | 80.04 | 74.31 | 72.07 | 120.89 | — | — | — | — |
| Days payables outstanding (DPO) | 48.83 | 45.42 | 39.83 | 50.11 | 45.94 | — | — | — | — |
| Cash conversion cycle | 57.45 | 81.69 | 78.04 | 67.14 | 115.61 | — | — | — | — |
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 | 1.11 | 0.61 | 1.25 | 1.17 | 0.96 | 1.13 | 1.17 | 1.16 | 1.09 |
| FCF / Net income | 0.88 | 0.40 | 0.82 | 0.97 | 0.81 | 0.87 | 0.90 | 0.89 | 0.89 |
| FCF margin | +9.74% | +4.26% | +9.76% | +14.64% | +12.30% | +11.98% | +12.36% | +12.36% | +12.56% |
| OCF margin | +12.29% | +6.41% | +14.78% | +17.71% | +14.58% | +15.59% | +16.09% | +16.15% | +15.48% |
| CapEx / Revenue | +2.55% | +2.14% | +5.02% | +3.06% | +2.29% | +3.49% | +3.41% | +3.41% | +3.36% |
| CapEx / D&A | 1.48 | 1.30 | 2.91 | 1.72 | 1.06 | — | — | — | — |
| Stock-based comp / Revenue | +0.58% | +0.46% | +0.60% | +0.53% | +0.56% | — | — | — | — |
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 | 12.37 | 13.89 | 16.53 | 22.54 | 22.22 | 24.29 | 26.62 | 29.08 | 30.49 |
| EPS · basic | 12.47 | 13.92 | 16.62 | 22.67 | 22.31 | 24.53 | 26.38 | 29.58 | 30.71 |
| Book value / share | -7.17 | -5.67 | 7.99 | 23.75 | 33.14 | 23.24 | 23.74 | 24.50 | 25.26 |
| Tangible BV / share | -12.15 | -10.88 | 1.77 | 17.60 | 18.97 | 23.24 | 23.74 | 24.50 | 25.26 |
| Sales / share | 111.84 | 131.80 | 139.55 | 149.20 | 148.01 | 161.23 | 167.04 | 177.46 | 178.15 |
| Operating CF / share | 13.75 | 8.44 | 20.62 | 26.42 | 21.58 | 25.13 | 26.88 | 28.66 | 27.57 |
| Free cash flow / share | 10.90 | 5.62 | 13.61 | 21.85 | 18.20 | 19.32 | 20.65 | 21.94 | 22.38 |
| Dividends / share | 3.37 | 3.97 | 4.30 | 4.48 | 4.93 | 5.18 | 5.30 | 5.54 | 5.44 |
| Payout ratio | +27.26% | +28.57% | +26.00% | +19.87% | +22.00% | +23.18% | +23.02% | +22.37% | +21.55% |
| Retention ratio | +72.74% | +71.43% | +74.00% | +80.13% | +78.00% | +76.82% | +76.98% | +77.63% | +78.45% |
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 | — | +12.50% | +5.58% | +7.21% | -2.73% | +7.90% | +5.28% | +4.92% | +1.79% | +5.22% |
| Gross profit · YoY | — | +8.10% | +20.48% | +14.48% | -3.19% | +4.48% | +5.03% | +5.96% | -0.42% | +6.63% |
| Profit | ||||||||||
| Operating income · YoY | — | +11.16% | +20.41% | +30.97% | -1.86% | +2.53% | +5.79% | +4.77% | +1.90% | +9.00% |
| EBITDA · YoY | — | +11.39% | +19.90% | +28.82% | -1.45% | -1.94% | +8.76% | +6.51% | -2.18% | +8.24% |
| Net income · YoY | — | +7.13% | +18.71% | +36.74% | -2.57% | -1.22% | +4.74% | +6.25% | +3.36% | +8.53% |
| Operating | ||||||||||
| EBIT · YoY | — | +11.86% | +21.03% | +30.80% | -2.51% | -0.43% | +4.91% | +5.05% | +4.00% | +8.85% |
| R&D · YoY | — | — | — | — | — | — | — | — | — | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | +12.29% | +19.01% | +36.36% | -1.42% | +9.31% | +9.61% | +9.23% | +4.86% | +11.94% |
| EPS · basic · YoY | — | +11.63% | +19.40% | +36.40% | -1.59% | +9.95% | +7.55% | +12.14% | +3.82% | +11.93% |
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 | $1.44B | $1.75B | $1.53B | $1.49B | $2.06B | $1.82B | $1.96B | $2B | $2.01B |
| Net debt | $1.41B | $1.7B | $1.47B | $1.07B | $2.03B | $1.65B | $1.78B | $1.8B | $1.81B |
| Net debt / EBITDA | 2.14 | 2.31 | 1.67 | 0.95 | 1.82 | 1.50 | 1.49 | 1.42 | 1.46 |
| Debt / equity | -5.34 | -8.62 | 5.35 | 1.75 | 1.77 | 2.26 | 2.34 | 2.34 | 2.25 |
| Debt / assets | +66.19% | +68.15% | +54.58% | +42.88% | +50.57% | +47.85% | +48.55% | +47.19% | +46.66% |
| Equity / assets | -12.39% | -7.91% | +10.20% | +24.49% | +28.49% | +21.20% | +20.73% | +20.19% | +20.73% |
| Coverage | |||||||||
| EBITDA / interest expense | 25.33 | 18.43 | 15.71 | 25.69 | 27.30 | 21.11 | 21.60 | 22.97 | 21.09 |
| Operating income / interest | 22.70 | 16.49 | 14.11 | 23.46 | 24.83 | 20.08 | 19.98 | 20.90 | 19.98 |
| Interest expense | $26M | $39.8M | $56M | $44.1M | $40.9M | $51.86M | $55.12M | $55.22M | $58.85M |
| Liquidity | |||||||||
| Current ratio | 1.42 | 0.94 | 1.41 | 1.43 | 1.60 | — | — | — | — |
| Quick ratio | 0.66 | 0.42 | 0.65 | 0.82 | 0.51 | — | — | — | — |
| Cash ratio | 0.04 | 0.03 | 0.06 | 0.32 | 0.03 | — | — | — | — |
| Working capital | $348.3M | -$99.2M | $418.9M | $570.9M | $712M | — | — | — | — |
| Working capital / revenue | +8.30% | -2.10% | +8.41% | +10.69% | +13.70% | — | — | — | — |
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).