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 | +25.90% | +30.10% | +16.14% | +13.59% | +15.08% | +15.18% | +14.96% | +15.29% | +15.30% |
| Operating margin | +19.98% | +25.02% | +9.77% | +5.59% | +8.71% | +7.84% | +8.10% | +8.17% | +8.19% |
| EBITDA margin | +26.15% | +30.04% | +18.07% | +14.12% | +21.68% | +18.02% | +18.10% | +18.47% | +17.76% |
| EBIT margin | +19.58% | +25.16% | +11.06% | +4.90% | +11.89% | +9.03% | +9.51% | +9.05% | +9.19% |
| Pre-tax margin | +18.07% | +25.30% | +10.12% | +3.49% | +10.08% | +7.80% | +7.92% | +7.80% | +7.74% |
| Net margin | +13.20% | +18.73% | +8.51% | +1.57% | +4.49% | +4.86% | +4.83% | +5.00% | +4.95% |
| Cost structure | |||||||||
| Cost of revenue / sales | +74.10% | +69.90% | +83.86% | +86.41% | +84.92% | +87.19% | +86.73% | +85.35% | +84.05% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +3.48% | +2.60% | +3.65% | +4.47% | +4.32% | +4.07% | +4.16% | +4.18% | +4.20% |
| Effective tax rate | +26.77% | +25.30% | +12.77% | +48.03% | +52.65% | +37.68% | +37.12% | +37.42% | +37.92% |
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) | +15.17% | +29.38% | +9.37% | +1.51% | +4.42% | +4.94% | +4.87% | +5.08% | +5.06% |
| Return on assets (ROA) | +7.40% | +15.32% | +5.06% | +0.76% | +2.21% | +2.58% | +2.50% | +2.61% | +2.64% |
| Return on capital (ROC) | +16.29% | +29.90% | +8.15% | +3.87% | +5.99% | +5.75% | +5.96% | +6.02% | +6.10% |
| Return on invested capital (ROIC) | +10.76% | +22.39% | +7.09% | +1.09% | +3.09% | +3.56% | +3.56% | +3.68% | +3.68% |
| Asset turnover | +56.08% | +81.78% | +59.46% | +48.52% | +49.23% | +53.00% | +51.62% | +52.20% | +53.36% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +13.20% | +18.73% | +8.51% | +1.57% | +4.49% | +4.86% | +4.83% | +5.00% | +4.95% |
| Asset turnover (× revenue / assets) | +56.08% | +81.78% | +59.46% | +48.52% | +49.23% | +53.00% | +51.62% | +52.20% | +53.36% |
| Equity multiplier (× assets / equity) | +205.02% | +191.78% | +185.26% | +197.37% | +200.10% | +191.71% | +195.20% | +194.71% | +191.75% |
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 | 0.56 | 0.82 | 0.59 | 0.49 | 0.49 | 0.53 | 0.52 | 0.52 | 0.53 |
| Fixed-asset turnover | 0.98 | 1.49 | 0.99 | 0.82 | 0.86 | — | — | — | — |
| Inventory turnover | 3.34 | 3.77 | 4.55 | 3.77 | 3.04 | — | — | — | — |
| Receivables turnover | 7.45 | 10.12 | 8.90 | 8.25 | 9.21 | — | — | — | — |
| Payables turnover | 7.26 | 10.34 | 9.84 | 8.31 | 6.20 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 48.97 | 36.06 | 41.00 | 44.24 | 39.65 | — | — | — | — |
| Days inventory outstanding (DIO) | 109.27 | 96.73 | 80.19 | 96.78 | 119.93 | — | — | — | — |
| Days payables outstanding (DPO) | 50.25 | 35.29 | 37.08 | 43.92 | 58.91 | — | — | — | — |
| Cash conversion cycle | 107.99 | 97.50 | 84.10 | 97.10 | 100.66 | — | — | — | — |
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 | 1.34 | 1.10 | 2.07 | 7.43 | 1.53 | 2.50 | 2.54 | 2.35 | 2.45 |
| FCF / Net income | 0.55 | 0.75 | 0.86 | 0.27 | -0.99 | 0.23 | 0.22 | 0.23 | 0.22 |
| FCF margin | +7.27% | +14.06% | +7.34% | +0.43% | -4.44% | +1.13% | +1.08% | +1.14% | +1.08% |
| OCF margin | +17.70% | +20.58% | +17.58% | +11.68% | +6.84% | +12.14% | +12.26% | +11.75% | +12.13% |
| CapEx / Revenue | +10.43% | +6.52% | +10.24% | +11.25% | +11.28% | +11.02% | +10.75% | +11.19% | +10.64% |
| CapEx / D&A | 1.59 | 1.34 | 1.46 | — | 1.29 | — | — | — | — |
| Stock-based comp / Revenue | +0.24% | +0.15% | +0.28% | +0.29% | +0.25% | — | — | — | — |
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 | 4.27 | 10.06 | 3.50 | 0.55 | 1.70 | 0.81 | 1.81 | 1.83 | 1.68 |
| EPS · basic | 4.31 | 10.17 | 3.52 | 0.55 | 1.70 | 0.82 | 1.80 | 1.86 | 1.67 |
| Book value / share | 28.17 | 34.25 | 37.31 | 36.22 | 38.36 | 39.15 | 39.41 | 38.75 | 39.24 |
| Tangible BV / share | 25.10 | 31.12 | 33.90 | 32.91 | 35.21 | 39.15 | 39.41 | 38.75 | 39.24 |
| Sales / share | 32.38 | 53.72 | 41.10 | 34.68 | 37.79 | 39.78 | 39.70 | 39.38 | 40.15 |
| Operating CF / share | 5.73 | 11.06 | 7.22 | 4.05 | 2.59 | 4.83 | 4.87 | 4.63 | 4.87 |
| Free cash flow / share | 2.35 | 7.55 | 3.02 | 0.15 | -1.68 | 0.45 | 0.43 | 0.45 | 0.43 |
| Dividends / share | 0.27 | 0.56 | 1.06 | 0.84 | 0.88 | 0.97 | 0.96 | 0.94 | 0.98 |
| Payout ratio | +6.36% | +5.52% | +30.18% | +154.77% | +51.86% | +50.37% | +50.12% | +47.76% | +49.36% |
| Retention ratio | +93.64% | +94.48% | +69.82% | -54.77% | +48.14% | +49.63% | +49.88% | +52.24% | +50.64% |
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 | — | +54.77% | -28.39% | -18.79% | +8.36% | +5.87% | +0.18% | -1.52% | +1.14% | +0.37% |
| Gross profit · YoY | — | +79.85% | -61.59% | -31.61% | +20.17% | +6.62% | -1.32% | +0.68% | +1.21% | -6.02% |
| Profit | ||||||||||
| Operating income · YoY | — | +93.85% | -72.04% | -53.55% | +68.90% | -4.64% | +3.50% | -0.78% | +1.41% | -10.22% |
| EBITDA · YoY | — | +77.76% | -56.91% | -36.54% | +66.33% | -12.01% | +0.65% | +0.47% | -2.75% | -4.37% |
| Net income · YoY | — | +119.72% | -67.49% | -84.99% | +209.15% | +14.77% | -0.43% | +1.80% | +0.11% | -11.21% |
| Operating | ||||||||||
| EBIT · YoY | — | +98.89% | -68.51% | -64.00% | +162.72% | -19.59% | +5.49% | -6.25% | +2.68% | -8.68% |
| R&D · YoY | — | — | — | — | — | — | — | — | — | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | +135.60% | -65.21% | -84.29% | +209.09% | -52.09% | +122.06% | +1.45% | -8.43% | -11.01% |
| EPS · basic · YoY | — | +135.96% | -65.39% | -84.37% | +209.09% | -51.53% | +117.98% | +3.54% | -10.42% | -11.20% |
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 | $4.41B | $3.81B | $3.99B | $4.45B | $5.28B | $4.87B | $4.68B | $4.7B | $4.66B |
| Net debt | $3.64B | $3.07B | $3.65B | $4.18B | $5B | $4.56B | $4.37B | $4.39B | $4.35B |
| Net debt / EBITDA | 1.13 | 0.53 | 1.47 | 2.66 | 1.91 | 1.98 | 1.89 | 1.89 | 1.92 |
| Debt / equity | 0.41 | 0.31 | 0.32 | 0.38 | 0.43 | 0.39 | 0.37 | 0.38 | 0.37 |
| Debt / assets | +19.99% | +16.28% | +17.34% | +19.41% | +21.57% | +20.21% | +18.92% | +19.47% | +19.51% |
| Equity / assets | +48.78% | +52.14% | +53.98% | +50.67% | +49.98% | +52.16% | +51.23% | +51.36% | +52.15% |
| Coverage | |||||||||
| EBITDA / interest expense | 16.63 | 34.04 | 13.10 | 6.83 | 12.00 | 10.57 | 10.20 | 10.37 | 10.13 |
| Operating income / interest | 12.70 | 28.35 | 7.08 | 2.70 | 4.82 | 4.60 | 4.56 | 4.58 | 4.67 |
| Interest expense | $194.3M | $168.8M | $189M | $230M | $217.7M | $217.59M | $226.96M | $224.28M | $223.2M |
| Liquidity | |||||||||
| Current ratio | 1.11 | 1.18 | 1.22 | 1.08 | 1.32 | — | — | — | — |
| Quick ratio | 0.51 | 0.47 | 0.49 | 0.39 | 0.40 | — | — | — | — |
| Cash ratio | 0.16 | 0.13 | 0.09 | 0.07 | 0.07 | — | — | — | — |
| Working capital | $537.9M | $1.02B | $871.3M | $327M | $1.25B | — | — | — | — |
| Working capital / revenue | +4.35% | +5.35% | +6.36% | +2.94% | +10.41% | — | — | — | — |
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).