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 | +17.69% | +18.02% | +17.00% | +17.47% | +17.28% | +17.16% | +17.65% | +16.87% | +17.62% |
| Operating margin | +15.03% | +15.37% | +14.33% | +14.96% | +14.97% | +14.86% | +15.00% | +14.35% | +14.32% |
| EBITDA margin | +16.87% | +16.61% | +16.49% | +16.68% | +4.78% | +14.76% | +14.48% | +14.91% | +14.39% |
| EBIT margin | +15.39% | +15.07% | +15.05% | +15.14% | +3.18% | +10.97% | +11.07% | +11.27% | +11.35% |
| Pre-tax margin | +13.97% | +13.65% | +13.60% | +13.60% | +1.66% | +9.81% | +9.90% | +9.48% | +9.56% |
| Net margin | +9.77% | +9.09% | +9.47% | +9.44% | -0.32% | +6.20% | +6.14% | +6.26% | +6.34% |
| Cost structure | |||||||||
| Cost of revenue / sales | +82.31% | +81.98% | +83.00% | +82.53% | +82.72% | +81.18% | +84.54% | +80.49% | +84.62% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +2.66% | +2.65% | +2.68% | +2.51% | +2.31% | +2.52% | +2.47% | +2.47% | +2.53% |
| Effective tax rate | +24.48% | +28.03% | +26.27% | +26.26% | +84.71% | +25.60% | +26.07% | +27.12% | +26.17% |
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) | +36.98% | +31.24% | +29.99% | +28.61% | -0.42% | +13.48% | +13.57% | +13.85% | +14.55% |
| Return on assets (ROA) | +4.91% | +4.81% | +4.96% | +5.00% | -0.10% | +2.62% | +2.63% | +2.69% | +2.67% |
| Return on capital (ROC) | +20.17% | +20.23% | +18.89% | +19.48% | +10.01% | +14.84% | +15.04% | +14.47% | +14.75% |
| Return on invested capital (ROIC) | +13.11% | +11.96% | +12.49% | +12.29% | +7.51% | +6.19% | +6.16% | +6.31% | +6.53% |
| Asset turnover | +50.28% | +52.92% | +52.39% | +52.97% | +31.74% | +42.29% | +42.81% | +43.05% | +42.13% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +9.77% | +9.09% | +9.47% | +9.44% | -0.32% | +6.20% | +6.14% | +6.26% | +6.34% |
| Asset turnover (× revenue / assets) | +50.28% | +52.92% | +52.39% | +52.97% | +31.74% | +42.29% | +42.81% | +43.05% | +42.13% |
| Equity multiplier (× assets / equity) | +753.15% | +649.21% | +604.45% | +572.39% | +416.78% | +514.49% | +515.88% | +514.19% | +544.87% |
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 | 0.50 | 0.53 | 0.52 | 0.53 | 0.32 | 0.42 | 0.43 | 0.43 | 0.42 |
| Fixed-asset turnover | 6.51 | 6.92 | 7.65 | 8.40 | 7.23 | — | — | — | — |
| Inventory turnover | 9.79 | 9.34 | 9.08 | 7.98 | — | — | — | — | — |
| Receivables turnover | 1.69 | 1.76 | 1.70 | 1.70 | 0.97 | — | — | — | — |
| Payables turnover | 0.99 | 1.06 | 1.05 | 1.04 | 0.69 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 216.42 | 206.83 | 215.14 | 215.01 | 376.31 | — | — | — | — |
| Days inventory outstanding (DIO) | 37.27 | 39.09 | 40.19 | 45.73 | — | — | — | — | — |
| Days payables outstanding (DPO) | 369.19 | 342.76 | 348.24 | 351.91 | 527.79 | — | — | — | — |
| Cash conversion cycle | -115.50 | -96.84 | -92.92 | -91.18 | -151.48 | — | — | — | — |
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 | 1.39 | 0.71 | 1.02 | 1.17 | -53.91 | 1.99 | 2.09 | 1.96 | 1.99 |
| FCF / Net income | 0.92 | 0.65 | 0.97 | 1.08 | -51.16 | 1.89 | 1.94 | 1.91 | 1.88 |
| FCF margin | +8.95% | +5.94% | +9.14% | +10.15% | +16.14% | +11.68% | +11.89% | +11.94% | +11.91% |
| OCF margin | +13.61% | +6.48% | +9.68% | +11.05% | +17.01% | +12.33% | +12.85% | +12.28% | +12.62% |
| CapEx / Revenue | +4.66% | +0.55% | +0.53% | +0.90% | +0.87% | +0.76% | +0.74% | +0.75% | +0.77% |
| CapEx / D&A | 3.14 | 0.36 | 0.37 | 0.58 | 0.54 | — | — | — | — |
| Stock-based comp / Revenue | +0.59% | +0.57% | +0.58% | +0.58% | +0.58% | — | — | — | — |
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 | 6.53 | 6.36 | 6.91 | 7.46 | -0.27 | 10.46 | 11.94 | 13.53 | 11.55 |
| EPS · basic | 6.57 | 6.40 | 6.98 | 7.54 | -0.27 | 10.68 | 11.95 | 13.81 | 11.80 |
| Book value / share | 17.50 | 20.09 | 23.04 | 26.06 | 63.72 | 57.48 | 56.57 | 57.98 | 55.49 |
| Tangible BV / share | -29.05 | -28.45 | -28.85 | -30.33 | -52.15 | 57.48 | 56.57 | 57.98 | 55.49 |
| Sales / share | 66.28 | 69.03 | 72.95 | 79.00 | 84.29 | 125.06 | 124.92 | 128.35 | 127.37 |
| Operating CF / share | 9.02 | 4.48 | 7.06 | 8.73 | 14.34 | 15.42 | 16.05 | 15.76 | 16.08 |
| Free cash flow / share | 5.94 | 4.10 | 6.67 | 8.02 | 13.61 | 14.61 | 14.85 | 15.33 | 15.18 |
| Dividends / share | 2.75 | 2.81 | 2.79 | 2.78 | 2.68 | 4.39 | 4.43 | 4.59 | 4.55 |
| Payout ratio | +42.44% | +44.72% | +40.44% | +37.33% | -1008.44% | +56.70% | +57.70% | +57.18% | +56.40% |
| Retention ratio | +57.56% | +55.28% | +59.56% | +62.67% | +1108.44% | +43.30% | +42.30% | +42.82% | +43.60% |
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 | — | -0.00% | +2.82% | +6.79% | +10.09% | +48.07% | -0.71% | +3.70% | -0.08% | +7.93% |
| Gross profit · YoY | — | +1.90% | -2.98% | +9.69% | +8.90% | +47.07% | +2.13% | -0.91% | +4.35% | +7.88% |
| Profit | ||||||||||
| Operating income · YoY | — | +2.30% | -4.19% | +11.51% | +10.19% | +46.92% | +0.27% | -0.80% | -0.31% | +7.28% |
| EBITDA · YoY | — | -1.55% | +2.07% | +8.04% | -68.44% | +356.87% | -2.58% | +6.78% | -3.57% | +5.80% |
| Net income · YoY | — | -6.89% | +7.08% | +6.41% | -103.68% | +3007.55% | -1.56% | +5.66% | +1.18% | +2.25% |
| Operating | ||||||||||
| EBIT · YoY | — | -2.03% | +2.66% | +7.42% | -76.88% | +410.86% | +0.21% | +5.55% | +0.62% | +3.90% |
| R&D · YoY | — | — | — | — | — | — | — | — | — | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -2.60% | +8.65% | +7.96% | -103.62% | +3975.07% | +14.13% | +13.35% | -14.68% | +7.39% |
| EPS · basic · YoY | — | -2.59% | +9.06% | +8.02% | -103.58% | +4056.35% | +11.85% | +15.57% | -14.56% | +7.59% |
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 | $6.87B | $6.7B | $6.5B | $6.87B | $12.78B | $13.84B | $13.83B | $14.22B | $14.09B |
| Net debt | $1.56B | $2.42B | $2.07B | $2.53B | $5.9B | $5.53B | $5.66B | $5.63B | $5.68B |
| Net debt / EBITDA | 0.65 | 1.02 | 0.86 | 0.97 | 7.14 | 1.46 | 1.54 | 1.43 | 1.50 |
| Debt / equity | 1.82 | 1.61 | 1.40 | 1.33 | 0.98 | 1.18 | 1.20 | 1.19 | 1.23 |
| Debt / assets | +24.18% | +24.82% | +23.19% | +23.20% | +23.49% | +22.89% | +23.32% | +23.24% | +22.56% |
| Equity / assets | +13.28% | +15.40% | +16.54% | +17.47% | +23.99% | +19.44% | +19.38% | +19.45% | +18.35% |
| Coverage | |||||||||
| EBITDA / interest expense | 11.49 | 11.38 | 11.09 | 10.56 | 3.14 | 9.81 | 9.25 | 10.02 | 9.64 |
| Operating income / interest | 10.24 | 10.53 | 9.63 | 9.47 | 9.82 | 9.88 | 9.58 | 9.65 | 9.60 |
| Interest expense | $209.8M | $208.6M | $218.5M | $247.9M | $263.4M | $384.76M | $397.59M | $391.61M | $392.62M |
| Liquidity | |||||||||
| Current ratio | 0.98 | 0.97 | 0.95 | 1.00 | 0.93 | — | — | — | — |
| Quick ratio | 0.85 | 0.83 | 0.81 | 0.83 | 0.84 | — | — | — | — |
| Cash ratio | 0.33 | 0.28 | 0.27 | 0.27 | 0.23 | — | — | — | — |
| Working capital | -$316.7M | -$439.8M | -$861.8M | -$77.3M | -$2.07B | — | — | — | — |
| Working capital / revenue | -2.22% | -3.08% | -5.87% | -0.49% | -12.00% | — | — | — | — |
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).