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 | +68.45% | +61.72% | +68.35% | +69.79% | +71.63% | +71.82% | +71.44% | +72.01% | +71.88% |
| Operating margin | +11.47% | +2.88% | +12.96% | +14.91% | +17.50% | +15.31% | +15.13% | +15.06% | +15.54% |
| EBITDA margin | +12.70% | +8.35% | +19.07% | +20.45% | +21.67% | +20.75% | +20.78% | +20.57% | +20.86% |
| EBIT margin | +7.48% | +3.51% | +14.78% | +16.55% | +17.50% | +16.17% | +15.79% | +16.29% | +16.51% |
| Pre-tax margin | +1.87% | +0.75% | +12.65% | +14.49% | +12.54% | +13.12% | +12.84% | +13.05% | +13.48% |
| Net margin | +1.53% | +0.35% | +12.16% | +20.19% | +9.12% | +14.00% | +14.05% | +14.22% | +13.87% |
| Cost structure | |||||||||
| Cost of revenue / sales | +31.55% | +38.28% | +31.65% | +30.21% | +28.37% | +29.51% | +30.04% | +30.54% | +30.45% |
| R&D intensity | +14.57% | +13.81% | +12.08% | +10.60% | +11.12% | +11.01% | +11.39% | +11.19% | +10.94% |
| SG&A intensity | +42.41% | +45.03% | +43.30% | +44.27% | +43.02% | +43.65% | +43.53% | +43.70% | +44.34% |
| Effective tax rate | +18.05% | +53.06% | +3.87% | -39.34% | +27.22% | +15.27% | +16.16% | +15.32% | +15.05% |
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) | +3.02% | +0.97% | +28.16% | +34.52% | +16.31% | +25.65% | +25.55% | +27.25% | +25.81% |
| Return on assets (ROA) | +0.82% | +0.20% | +7.97% | +13.55% | +7.75% | +9.86% | +10.30% | +10.20% | +10.19% |
| Return on capital (ROC) | +6.84% | +1.97% | +10.08% | +11.73% | +18.46% | +12.76% | +12.82% | +12.96% | +13.04% |
| Return on invested capital (ROIC) | +0.91% | +0.24% | +9.46% | +15.88% | +9.63% | +11.67% | +11.90% | +12.23% | +11.64% |
| Asset turnover | +53.63% | +57.98% | +65.57% | +67.09% | +84.88% | +70.42% | +73.36% | +71.74% | +73.51% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +1.53% | +0.35% | +12.16% | +20.19% | +9.12% | +14.00% | +14.05% | +14.22% | +13.87% |
| Asset turnover (× revenue / assets) | +53.63% | +57.98% | +65.57% | +67.09% | +84.88% | +70.42% | +73.36% | +71.74% | +73.51% |
| Equity multiplier (× assets / equity) | +368.29% | +472.52% | +353.24% | +254.84% | +210.56% | +260.26% | +247.92% | +267.17% | +253.16% |
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 | 0.54 | 0.58 | 0.66 | 0.67 | 0.85 | 0.70 | 0.73 | 0.72 | 0.74 |
| Fixed-asset turnover | 2.01 | 2.09 | 2.45 | 2.73 | 3.14 | — | — | — | — |
| Inventory turnover | 1.14 | 1.44 | 1.33 | 1.45 | 1.70 | — | — | — | — |
| Receivables turnover | 6.82 | 6.35 | 4.72 | 5.67 | 5.24 | — | — | — | — |
| Payables turnover | 9.20 | 16.22 | 27.98 | 31.61 | 10.24 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 53.48 | 57.49 | 77.36 | 64.40 | 69.67 | — | — | — | — |
| Days inventory outstanding (DIO) | 319.20 | 253.32 | 273.55 | 250.99 | 215.05 | — | — | — | — |
| Days payables outstanding (DPO) | 39.69 | 22.50 | 13.05 | 11.55 | 35.64 | — | — | — | — |
| Cash conversion cycle | 333.00 | 288.31 | 337.86 | 303.84 | 249.08 | — | — | — | — |
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 | -4.05 | 25.87 | 0.71 | 1.03 | 2.30 | 1.22 | 1.17 | 1.19 | 1.24 |
| FCF / Net income | -11.36 | -8.33 | 0.34 | 0.73 | 1.53 | 0.79 | 0.77 | 0.79 | 0.78 |
| FCF margin | -17.36% | -2.93% | +4.13% | +14.74% | +13.95% | +10.99% | +10.88% | +11.20% | +10.76% |
| OCF margin | -6.20% | +9.12% | +8.59% | +20.77% | +21.02% | +17.13% | +16.45% | +16.88% | +17.25% |
| CapEx / Revenue | +11.17% | +12.05% | +4.45% | +6.03% | +7.08% | +5.99% | +5.80% | +5.96% | +5.88% |
| CapEx / D&A | 2.14 | 2.49 | 1.04 | 1.55 | 2.12 | — | — | — | — |
| Stock-based comp / Revenue | +3.13% | +3.13% | +2.85% | +3.35% | +2.32% | — | — | — | — |
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 | 0.25 | 0.07 | 2.94 | 5.78 | 3.48 | 6.48 | 8.12 | 10.22 | 12.64 |
| EPS · basic | 0.25 | 0.07 | 2.96 | 5.97 | 3.51 | 6.68 | 8.15 | 10.46 | 12.95 |
| Book value / share | 8.11 | 6.81 | 9.95 | 16.40 | 21.08 | 25.33 | 30.34 | 33.74 | 41.29 |
| Tangible BV / share | 7.00 | 4.99 | 7.91 | 14.37 | 18.73 | 25.33 | 30.34 | 33.74 | 41.29 |
| Sales / share | 16.02 | 18.67 | 23.05 | 28.04 | 37.67 | 46.43 | 55.18 | 64.66 | 76.85 |
| Operating CF / share | -0.99 | 1.70 | 1.98 | 5.82 | 7.92 | 7.95 | 9.08 | 10.91 | 13.26 |
| Free cash flow / share | -2.78 | -0.55 | 0.95 | 4.13 | 5.25 | 5.10 | 6.01 | 7.24 | 8.27 |
| Dividends / share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Payout ratio | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Retention ratio | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% |
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 | — | +18.79% | +30.02% | +22.07% | +30.73% | +22.99% | +18.83% | +18.39% | +16.84% | +22.23% |
| Gross profit · YoY | — | +7.11% | +43.98% | +24.64% | +34.18% | +23.32% | +18.20% | +19.34% | +16.63% | +22.98% |
| Profit | ||||||||||
| Operating income · YoY | — | -70.16% | +485.11% | +40.41% | +53.38% | +7.60% | +17.44% | +17.88% | +20.54% | +26.96% |
| EBITDA · YoY | — | -21.92% | +196.88% | +30.93% | +38.52% | +17.79% | +18.97% | +17.20% | +18.47% | +30.04% |
| Net income · YoY | — | -72.62% | +4384.78% | +102.76% | -40.93% | +88.67% | +19.25% | +19.83% | +13.94% | +61.02% |
| Operating | ||||||||||
| EBIT · YoY | — | -44.28% | +447.60% | +36.72% | +38.17% | +13.69% | +16.04% | +22.16% | +18.38% | +34.94% |
| R&D · YoY | — | +12.55% | +13.76% | +7.12% | +37.11% | +21.82% | +22.95% | +16.30% | +14.18% | +17.93% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -73.68% | +4368.09% | +96.60% | -39.79% | +86.32% | +25.27% | +25.82% | +23.64% | +63.29% |
| EPS · basic · YoY | — | -73.48% | +4364.56% | +101.69% | -41.21% | +90.21% | +22.00% | +28.47% | +23.79% | +63.80% |
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 | $1.29B | $1.43B | $1.45B | $1.42B | $1.05B | $2.18B | $2.5B | $3B | $3.58B |
| Net debt | $494.9M | $808.9M | $798.1M | $468.6M | $334.7M | $978.58M | $1.03B | $1.31B | $1.58B |
| Net debt / EBITDA | 3.55 | 7.42 | 2.47 | 1.11 | 0.57 | 1.42 | 1.25 | 1.36 | 1.38 |
| Debt / equity | 2.31 | 3.01 | 1.98 | 1.17 | 0.69 | 1.20 | 1.15 | 1.23 | 1.22 |
| Debt / assets | +62.79% | +63.65% | +55.98% | +46.05% | +32.94% | +46.05% | +46.25% | +45.96% | +48.07% |
| Equity / assets | +27.15% | +21.16% | +28.31% | +39.24% | +47.49% | +38.42% | +40.33% | +37.43% | +39.50% |
| Coverage | |||||||||
| EBITDA / interest expense | 2.26 | 3.03 | 8.94 | 9.92 | 7.36 | 8.69 | 8.81 | 8.79 | 8.98 |
| Operating income / interest | 2.04 | 1.04 | 6.08 | 7.23 | 5.94 | 6.41 | 6.41 | 6.44 | 6.69 |
| Interest expense | $61.7M | $36M | $36.2M | $42.7M | $79.7M | $79.51M | $93.39M | $109.59M | $127.16M |
| Liquidity | |||||||||
| Current ratio | 5.75 | 3.56 | 3.47 | 3.54 | 2.78 | — | — | — | — |
| Quick ratio | 4.16 | 2.41 | 2.36 | 2.50 | 1.81 | — | — | — | — |
| Cash ratio | 3.46 | 1.71 | 1.44 | 1.80 | 1.05 | — | — | — | — |
| Working capital | $1.09B | $934.1M | $1.12B | $1.34B | $1.21B | — | — | — | — |
| Working capital / revenue | +98.99% | +71.56% | +65.71% | +64.82% | +44.63% | — | — | — | — |
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).