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 | +72.02% | +70.63% | +73.17% | +76.32% | +71.98% | +73.16% | +71.87% | +75.70% | +74.55% |
| Operating margin | +27.10% | +30.84% | +4.91% | +31.51% | +36.17% | +24.47% | +24.86% | +23.71% | +24.52% |
| EBITDA margin | +36.75% | +35.95% | +11.49% | +40.06% | +45.17% | +32.42% | +32.90% | +31.79% | +31.50% |
| EBIT margin | +30.15% | +29.36% | +5.05% | +33.05% | +36.17% | +24.45% | +24.24% | +24.36% | +25.18% |
| Pre-tax margin | +28.50% | +27.74% | +3.14% | +31.07% | +32.45% | +22.07% | +21.79% | +22.13% | +22.49% |
| Net margin | +26.79% | +24.49% | +0.61% | +26.68% | +28.12% | +18.81% | +17.99% | +18.96% | +18.13% |
| Cost structure | |||||||||
| Cost of revenue / sales | +27.98% | +29.37% | +26.83% | +23.68% | +28.02% | +25.82% | +25.49% | +26.77% | +26.47% |
| R&D intensity | +25.14% | +22.85% | +50.79% | +27.95% | +19.27% | +32.47% | +33.51% | +32.80% | +33.56% |
| SG&A intensity | +19.31% | +16.31% | +16.44% | +15.74% | +16.53% | +16.62% | +16.10% | +15.85% | +16.63% |
| Effective tax rate | +10.96% | +11.66% | +80.04% | +14.06% | +13.31% | +13.38% | +14.04% | +13.91% | +13.33% |
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) | +34.11% | +31.52% | +0.97% | +36.91% | +34.66% | +25.43% | +24.45% | +25.68% | +25.91% |
| Return on assets (ROA) | +12.35% | +13.30% | +0.34% | +14.62% | +13.34% | +10.18% | +9.33% | +9.91% | +9.76% |
| Return on capital (ROC) | +18.11% | +23.43% | +4.00% | +23.89% | +22.76% | +17.68% | +17.87% | +16.85% | +17.96% |
| Return on invested capital (ROIC) | +17.90% | +18.60% | +0.49% | +20.22% | +17.69% | +13.59% | +12.93% | +13.47% | +13.28% |
| Asset turnover | +46.08% | +54.31% | +56.35% | +54.79% | +47.44% | +54.13% | +51.87% | +52.27% | +53.85% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +26.79% | +24.49% | +0.61% | +26.68% | +28.12% | +18.81% | +17.99% | +18.96% | +18.13% |
| Asset turnover (× revenue / assets) | +46.08% | +54.31% | +56.35% | +54.79% | +47.44% | +54.13% | +51.87% | +52.27% | +53.85% |
| Equity multiplier (× assets / equity) | +276.27% | +237.01% | +283.45% | +252.54% | +259.90% | +249.64% | +262.00% | +259.11% | +265.36% |
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 | 0.46 | 0.54 | 0.56 | 0.55 | 0.47 | 0.54 | 0.52 | 0.52 | 0.54 |
| Fixed-asset turnover | 2.53 | 2.77 | 2.61 | 2.70 | 2.42 | — | — | — | — |
| Inventory turnover | 2.29 | 2.95 | 2.54 | 2.49 | 2.73 | — | — | — | — |
| Receivables turnover | 5.28 | 6.27 | 5.81 | 6.24 | 5.12 | — | — | — | — |
| Payables turnover | 2.96 | 4.08 | 4.11 | 3.72 | 4.13 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 69.17 | 58.18 | 62.84 | 58.46 | 71.28 | — | — | — | — |
| Days inventory outstanding (DIO) | 159.46 | 123.92 | 143.91 | 146.76 | 133.56 | — | — | — | — |
| Days payables outstanding (DPO) | 123.46 | 89.39 | 88.77 | 97.99 | 88.35 | — | — | — | — |
| Cash conversion cycle | 105.17 | 92.71 | 117.97 | 107.23 | 116.49 | — | — | — | — |
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 | 1.08 | 1.32 | 35.63 | 1.25 | 0.90 | 1.42 | 1.53 | 1.40 | 1.49 |
| FCF / Net income | 0.74 | 1.01 | 25.05 | 1.06 | 0.68 | 1.09 | 1.19 | 1.07 | 1.13 |
| FCF margin | +19.84% | +24.81% | +15.21% | +28.20% | +19.04% | +20.43% | +21.35% | +20.21% | +20.42% |
| OCF margin | +28.97% | +32.21% | +21.64% | +33.46% | +25.37% | +26.73% | +27.44% | +26.58% | +27.00% |
| CapEx / Revenue | +9.13% | +7.40% | +6.43% | +5.25% | +6.33% | +5.97% | +6.12% | +5.96% | +6.13% |
| CapEx / D&A | 1.38 | 1.12 | 1.00 | 0.75 | 0.70 | — | — | — | — |
| Stock-based comp / Revenue | +0.98% | +0.91% | +1.07% | +1.19% | 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 | 5.14 | 5.71 | 0.14 | 6.74 | 7.28 | 5.14 | 9.64 | 10.69 | 10.36 |
| EPS · basic | 5.16 | 5.73 | 0.14 | 6.76 | 7.30 | 5.10 | 9.76 | 10.86 | 10.23 |
| Book value / share | 15.07 | 18.12 | 14.78 | 18.25 | 21.01 | 19.62 | 20.75 | 22.14 | 21.10 |
| Tangible BV / share | -2.34 | 1.80 | -0.62 | 3.28 | 1.76 | 19.62 | 20.75 | 22.14 | 21.10 |
| Sales / share | 19.19 | 23.32 | 23.60 | 25.25 | 25.90 | 26.51 | 28.20 | 29.99 | 30.15 |
| Operating CF / share | 5.56 | 7.51 | 5.11 | 8.45 | 6.57 | 7.09 | 7.74 | 7.97 | 8.14 |
| Free cash flow / share | 3.81 | 5.79 | 3.59 | 7.12 | 4.93 | 5.42 | 6.02 | 6.06 | 6.16 |
| Dividends / share | 2.60 | 2.76 | 2.92 | 3.09 | 3.26 | 3.24 | 3.42 | 3.74 | 3.72 |
| Payout ratio | +50.66% | +48.30% | +2039.73% | +45.80% | +44.79% | +64.87% | +67.36% | +65.76% | +68.08% |
| Retention ratio | +49.34% | +51.70% | -1939.73% | +54.20% | +55.21% | +35.13% | +32.64% | +34.24% | +31.92% |
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 | — | +21.72% | +1.40% | +6.74% | +1.18% | +2.75% | +5.16% | +6.76% | +0.05% | +5.53% |
| Gross profit · YoY | — | +19.37% | +5.06% | +11.33% | -4.58% | +4.44% | +3.30% | +12.46% | -1.47% | +5.99% |
| Profit | ||||||||||
| Operating income · YoY | — | +38.51% | -83.84% | +584.53% | +16.15% | -30.50% | +6.84% | +1.83% | +3.48% | +4.22% |
| EBITDA · YoY | — | +19.08% | -67.60% | +272.17% | +14.07% | -26.24% | +6.72% | +3.17% | -0.88% | +3.52% |
| Net income · YoY | — | +11.27% | -97.49% | +4589.59% | +6.64% | -31.24% | +0.55% | +12.54% | -4.33% | +0.51% |
| Operating | ||||||||||
| EBIT · YoY | — | +18.53% | -82.56% | +598.75% | +10.75% | -30.55% | +4.24% | +7.29% | +3.41% | +3.18% |
| R&D · YoY | — | +10.64% | +125.35% | -41.25% | -30.24% | +73.11% | +8.51% | +4.50% | +2.39% | +9.41% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | +11.09% | -97.55% | +4714.29% | +8.01% | -29.41% | +87.61% | +10.91% | -3.13% | +9.15% |
| EPS · basic · YoY | — | +11.05% | -97.56% | +4728.57% | +7.99% | -30.19% | +91.49% | +11.28% | -5.77% | +8.93% |
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 | $34.63B | $31.99B | $36.27B | $38.27B | $50.53B | $42.98B | $46.01B | $50.11B | $49.87B |
| Net debt | $26.54B | $19.29B | $29.43B | $25.03B | $35.97B | $30.7B | $33.63B | $36.44B | $36.54B |
| Net debt / EBITDA | 1.48 | 0.91 | 4.26 | 0.97 | 1.23 | 1.42 | 1.46 | 1.53 | 1.55 |
| Debt / equity | 0.91 | 0.69 | 0.96 | 0.83 | 0.96 | 0.87 | 0.89 | 0.91 | 0.95 |
| Debt / assets | +32.77% | +29.30% | +34.00% | +32.68% | +36.92% | +34.88% | +34.02% | +34.97% | +35.83% |
| Equity / assets | +36.20% | +42.19% | +35.28% | +39.60% | +38.48% | +40.06% | +38.17% | +38.59% | +37.68% |
| Coverage | |||||||||
| EBITDA / interest expense | 22.21 | 22.16 | 6.03 | 20.23 | 21.61 | 16.64 | 16.63 | 15.67 | 15.73 |
| Operating income / interest | 16.38 | 19.00 | 2.58 | 15.91 | 17.31 | 12.56 | 12.57 | 11.69 | 12.24 |
| Interest expense | $806M | $962M | $1.15B | $1.27B | $1.36B | $1.3B | $1.39B | $1.52B | $1.5B |
| Liquidity | |||||||||
| Current ratio | 1.27 | 1.47 | 1.25 | 1.36 | 1.54 | — | — | — | — |
| Quick ratio | 0.73 | 0.93 | 0.68 | 0.84 | 0.96 | — | — | — | — |
| Cash ratio | 0.34 | 0.52 | 0.27 | 0.47 | 0.51 | — | — | — | — |
| Working capital | $6.39B | $11.48B | $6.47B | $10.36B | $15.19B | — | — | — | — |
| Working capital / revenue | +13.13% | +19.37% | +10.77% | +16.15% | +23.39% | — | — | — | — |
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).