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 | +57.53% | +56.57% | +55.78% | +56.67% | +59.36% | +56.02% | +58.00% | +57.01% | +57.65% |
| Operating margin | +28.27% | +27.96% | +26.80% | +28.17% | +32.75% | +28.86% | +28.66% | +30.07% | +28.69% |
| EBITDA margin | +34.53% | +32.88% | +32.18% | +32.73% | +37.18% | +34.45% | +34.14% | +33.18% | +33.64% |
| EBIT margin | +28.54% | +27.47% | +27.52% | +27.97% | +32.60% | +29.60% | +28.57% | +29.29% | +29.11% |
| Pre-tax margin | +27.64% | +26.84% | +26.09% | +27.00% | +32.60% | +27.72% | +29.09% | +28.13% | +28.32% |
| Net margin | +14.84% | +21.78% | +21.25% | +21.79% | +27.22% | +22.88% | +23.59% | +22.82% | +23.44% |
| Cost structure | |||||||||
| Cost of revenue / sales | +42.47% | +43.43% | +44.22% | +43.33% | +40.64% | +42.35% | +41.84% | +42.28% | +41.67% |
| R&D intensity | +7.05% | +7.09% | +6.81% | +6.56% | +6.44% | +6.64% | +6.55% | +6.75% | +6.47% |
| SG&A intensity | +20.97% | +20.66% | +20.70% | +19.57% | +19.26% | +19.56% | +19.94% | +19.68% | +19.56% |
| Effective tax rate | +46.30% | +18.85% | +18.53% | +19.28% | +16.50% | +19.20% | +17.92% | +18.42% | +18.12% |
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) | +16.44% | +23.19% | +21.73% | +20.99% | +23.47% | +21.19% | +22.54% | +21.81% | +22.04% |
| Return on assets (ROA) | +10.04% | +15.30% | +13.29% | +14.86% | +17.14% | +14.95% | +15.09% | +14.96% | +14.88% |
| Return on capital (ROC) | +24.56% | +23.38% | +19.82% | +23.00% | +24.71% | +21.92% | +22.19% | +23.28% | +21.88% |
| Return on invested capital (ROIC) | +12.90% | +18.22% | +15.72% | +17.79% | +20.54% | +17.37% | +18.27% | +17.67% | +17.88% |
| Asset turnover | +67.61% | +70.22% | +62.55% | +68.18% | +62.96% | +65.34% | +63.98% | +65.54% | +63.48% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +14.84% | +21.78% | +21.25% | +21.79% | +27.22% | +22.88% | +23.59% | +22.82% | +23.44% |
| Asset turnover (× revenue / assets) | +67.61% | +70.22% | +62.55% | +68.18% | +62.96% | +65.34% | +63.98% | +65.54% | +63.48% |
| Equity multiplier (× assets / equity) | +163.85% | +151.63% | +163.48% | +141.29% | +136.97% | +141.79% | +149.37% | +145.83% | +148.11% |
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 | 0.68 | 0.70 | 0.63 | 0.68 | 0.63 | 0.65 | 0.64 | 0.66 | 0.63 |
| Fixed-asset turnover | 5.40 | 5.68 | 6.34 | 6.70 | 7.16 | — | — | — | — |
| Inventory turnover | 2.97 | 2.09 | 1.87 | 2.47 | 2.25 | — | — | — | — |
| Receivables turnover | 5.20 | 6.21 | 5.99 | 5.60 | 5.19 | — | — | — | — |
| Payables turnover | 9.84 | 9.76 | 12.39 | 8.54 | 7.52 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 70.14 | 58.75 | 60.93 | 65.23 | 70.26 | — | — | — | — |
| Days inventory outstanding (DIO) | 122.87 | 174.75 | 195.08 | 147.84 | 161.91 | — | — | — | — |
| Days payables outstanding (DPO) | 37.10 | 37.41 | 29.47 | 42.74 | 48.55 | — | — | — | — |
| Cash conversion cycle | 155.90 | 196.09 | 226.54 | 170.33 | 183.63 | — | — | — | — |
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 | 1.55 | 0.45 | 0.77 | 1.37 | 1.25 | 1.19 | 1.13 | 1.20 | 1.12 |
| FCF / Net income | 1.31 | 0.25 | 0.62 | 1.26 | 1.19 | 1.05 | 1.04 | 1.10 | 1.07 |
| FCF margin | +19.39% | +5.45% | +13.24% | +27.46% | +32.29% | +24.03% | +24.49% | +24.99% | +25.00% |
| OCF margin | +23.05% | +9.81% | +16.42% | +29.91% | +34.04% | +27.15% | +26.56% | +27.29% | +26.14% |
| CapEx / Revenue | +3.65% | +4.36% | +3.17% | +2.45% | +1.75% | +2.46% | +2.39% | +2.52% | +2.40% |
| CapEx / D&A | 0.61 | 0.80 | 0.68 | 0.53 | 0.38 | — | — | — | — |
| Stock-based comp / Revenue | +2.00% | +1.82% | +1.68% | +1.71% | +1.78% | — | — | — | — |
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 | 3.24 | 5.30 | 6.09 | 6.92 | 9.51 | 11.11 | 12.24 | 13.43 | 14.44 |
| EPS · basic | 3.27 | 5.34 | 6.12 | 6.94 | 9.55 | 11.05 | 12.46 | 13.42 | 14.71 |
| Book value / share | 19.70 | 22.86 | 28.01 | 32.97 | 40.50 | 41.13 | 43.15 | 45.70 | 50.90 |
| Tangible BV / share | 3.86 | 7.33 | 5.47 | 10.41 | 16.67 | 41.13 | 43.15 | 45.70 | 50.90 |
| Sales / share | 21.83 | 24.33 | 28.64 | 31.75 | 34.93 | 38.10 | 41.24 | 43.68 | 47.85 |
| Operating CF / share | 5.03 | 2.39 | 4.70 | 9.50 | 11.89 | 10.34 | 10.95 | 11.92 | 12.51 |
| Free cash flow / share | 4.23 | 1.33 | 3.79 | 8.72 | 11.28 | 9.16 | 10.10 | 10.92 | 11.96 |
| Dividends / share | 1.55 | 1.67 | 1.75 | 1.91 | 2.11 | 2.38 | 2.54 | 2.68 | 2.86 |
| Payout ratio | +47.78% | +31.48% | +28.78% | +27.65% | +22.19% | +27.26% | +26.08% | +26.89% | +25.48% |
| Retention ratio | +52.22% | +68.52% | +71.22% | +72.35% | +77.81% | +72.74% | +73.92% | +73.11% | +74.52% |
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 | — | +11.93% | +18.02% | +10.95% | +9.84% | +9.80% | +7.56% | +6.90% | +7.70% | +10.29% |
| Gross profit · YoY | — | +10.07% | +16.37% | +12.72% | +15.05% | +3.63% | +11.36% | +5.07% | +8.92% | +10.32% |
| Profit | ||||||||||
| Operating income · YoY | — | +10.69% | +13.15% | +16.61% | +27.69% | -3.23% | +6.80% | +12.19% | +2.73% | +10.49% |
| EBITDA · YoY | — | +6.59% | +15.48% | +12.86% | +24.77% | +1.74% | +6.60% | +3.89% | +9.21% | +9.93% |
| Net income · YoY | — | +64.26% | +15.15% | +13.75% | +37.20% | -7.71% | +10.90% | +3.44% | +10.63% | +16.77% |
| Operating | ||||||||||
| EBIT · YoY | — | +7.72% | +18.26% | +12.75% | +28.01% | -0.30% | +3.84% | +9.56% | +7.06% | +10.56% |
| R&D · YoY | — | +12.56% | +13.43% | +6.91% | +7.73% | +13.24% | +6.14% | +10.18% | +3.17% | +9.11% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | +63.58% | +14.91% | +13.63% | +37.43% | +16.81% | +10.17% | +9.71% | +7.58% | +20.54% |
| EPS · basic · YoY | — | +63.30% | +14.61% | +13.40% | +37.61% | +15.70% | +12.76% | +7.68% | +9.67% | +20.68% |
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 | $793.72M | $917.55M | $1.58B | $873.94M | $851.81M | $1.34B | $1.49B | $1.59B | $1.73B |
| Net debt | $498.44M | $643.84M | $1.35B | $635.57M | -$357.64M | $692.13M | $796.26M | $854.47M | $927.41M |
| Net debt / EBITDA | 0.45 | 0.55 | 1.00 | 0.41 | -0.19 | 0.36 | 0.38 | 0.40 | 0.39 |
| Debt / equity | 0.28 | 0.27 | 0.38 | 0.18 | 0.14 | 0.22 | 0.23 | 0.23 | 0.23 |
| Debt / assets | +16.79% | +18.01% | +23.40% | +12.72% | +10.42% | +15.52% | +15.66% | +16.08% | +15.71% |
| Equity / assets | +61.03% | +65.95% | +61.17% | +70.78% | +73.01% | +70.53% | +66.95% | +68.57% | +67.52% |
| Coverage | |||||||||
| EBITDA / interest expense | 46.02 | 52.74 | 28.68 | 33.55 | 151.75 | 44.05 | 44.19 | 43.57 | 42.78 |
| Operating income / interest | 37.67 | 44.83 | 23.89 | 28.88 | 133.66 | 36.91 | 37.10 | 39.49 | 36.48 |
| Interest expense | $23.99M | $22.31M | $47.38M | $45.71M | $12.61M | $44.19M | $46.95M | $49.48M | $55.03M |
| Liquidity | |||||||||
| Current ratio | 1.73 | 2.80 | 3.12 | 2.59 | 3.44 | — | — | — | — |
| Quick ratio | 1.00 | 1.23 | 1.23 | 1.18 | 2.16 | — | — | — | — |
| Cash ratio | 0.32 | 0.40 | 0.30 | 0.26 | 1.19 | — | — | — | — |
| Working capital | $662.99M | $1.24B | $1.61B | $1.45B | $2.49B | — | — | — | — |
| Working capital / revenue | +20.74% | +34.72% | +38.11% | +30.89% | +48.32% | — | — | — | — |
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).