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 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| 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 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +28.50% | +27.61% | +30.00% | +30.60% | +30.96% | +31.33% | +30.07% | +30.43% | +30.31% |
| Operating margin | +9.79% | +9.73% | +10.69% | +11.18% | +11.89% | +11.35% | +11.34% | +11.45% | +11.03% |
| EBITDA margin | +11.09% | +11.23% | +12.93% | +13.60% | +14.16% | +13.77% | +13.45% | +13.93% | +13.73% |
| EBIT margin | +9.30% | +9.45% | +11.15% | +11.64% | +12.09% | +11.87% | +11.95% | +11.65% | +11.74% |
| Pre-tax margin | +9.06% | +9.28% | +11.01% | +11.50% | +12.09% | +11.49% | +11.64% | +11.67% | +11.56% |
| Net margin | +6.76% | +7.00% | +8.25% | +8.63% | +9.10% | +8.65% | +8.48% | +8.51% | +8.65% |
| Cost structure | |||||||||
| Cost of revenue / sales | +71.50% | +72.39% | +70.00% | +69.40% | +69.04% | +67.86% | +68.83% | +69.06% | +67.95% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +18.70% | +17.88% | +19.31% | +19.42% | +19.07% | +18.90% | +18.82% | +19.53% | +18.88% |
| Effective tax rate | +25.35% | +24.55% | +25.02% | +24.97% | +24.73% | +24.79% | +24.97% | +25.01% | +25.02% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +54.69% | +54.97% | +61.27% | +57.95% | +53.92% | +56.68% | +57.20% | +55.74% | +59.11% |
| Return on assets (ROA) | +11.54% | +12.34% | +15.04% | +15.32% | +15.36% | +15.55% | +14.79% | +14.91% | +15.50% |
| Return on capital (ROC) | +25.69% | +25.43% | +29.21% | +29.77% | +30.31% | +29.74% | +30.12% | +30.49% | +29.67% |
| Return on invested capital (ROIC) | +17.74% | +18.31% | +22.55% | +22.97% | +23.20% | +22.65% | +22.52% | +22.65% | +23.26% |
| Asset turnover | +170.58% | +176.15% | +182.26% | +177.52% | +168.79% | +179.78% | +174.40% | +175.28% | +179.28% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +6.76% | +7.00% | +8.25% | +8.63% | +9.10% | +8.65% | +8.48% | +8.51% | +8.65% |
| Asset turnover (× revenue / assets) | +170.58% | +176.15% | +182.26% | +177.52% | +168.79% | +179.78% | +174.40% | +175.28% | +179.28% |
| Equity multiplier (× assets / equity) | +474.11% | +445.46% | +407.38% | +378.28% | +351.00% | +364.58% | +386.66% | +373.81% | +381.26% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 1.71 | 1.76 | 1.82 | 1.78 | 1.69 | 1.80 | 1.74 | 1.75 | 1.79 |
| Fixed-asset turnover | 3.44 | 3.36 | 3.40 | 3.32 | 3.25 | — | — | — | — |
| Inventory turnover | 5.82 | 6.21 | 6.36 | 6.09 | 5.71 | — | — | — | — |
| Receivables turnover | 76.70 | 73.22 | 92.21 | 91.20 | 98.97 | — | — | — | — |
| Payables turnover | 7.77 | 9.53 | 9.83 | 9.19 | 9.11 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 4.76 | 4.98 | 3.96 | 4.00 | 3.69 | — | — | — | — |
| Days inventory outstanding (DIO) | 62.69 | 58.76 | 57.37 | 59.92 | 63.90 | — | — | — | — |
| Days payables outstanding (DPO) | 46.95 | 38.31 | 37.14 | 39.73 | 40.07 | — | — | — | — |
| Cash conversion cycle | 20.50 | 25.43 | 24.18 | 24.20 | 27.53 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 0.93 | 1.17 | 1.35 | 1.26 | 1.24 | 1.28 | 1.30 | 1.28 | 1.29 |
| FCF / Net income | 0.61 | 0.75 | 0.97 | 0.86 | 0.88 | 0.89 | 0.92 | 0.91 | 0.91 |
| FCF margin | +4.15% | +5.26% | +8.00% | +7.45% | +8.04% | +7.71% | +7.77% | +7.74% | +7.85% |
| OCF margin | +6.30% | +8.18% | +11.17% | +10.85% | +11.29% | +11.08% | +11.05% | +10.89% | +11.15% |
| CapEx / Revenue | +2.15% | +2.92% | +3.18% | +3.40% | +3.24% | +3.34% | +3.31% | +3.24% | +3.32% |
| CapEx / D&A | 1.20 | 1.64 | 1.79 | 1.74 | 1.57 | — | — | — | — |
| Stock-based comp / Revenue | +0.39% | +0.24% | +0.30% | +0.32% | 0.00% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 2.70 | 2.97 | 3.86 | 4.26 | 4.88 | 5.24 | 5.76 | 6.39 | 6.85 |
| EPS · basic | 2.74 | 3.00 | 3.90 | 4.31 | 4.89 | 5.22 | 5.75 | 6.40 | 6.90 |
| Book value / share | 4.94 | 5.40 | 6.30 | 7.35 | 9.06 | 8.76 | 8.87 | 9.98 | 9.88 |
| Tangible BV / share | 4.86 | 5.32 | 6.22 | 7.17 | 8.97 | 8.76 | 8.87 | 9.98 | 9.88 |
| Sales / share | 39.94 | 42.39 | 46.78 | 49.35 | 53.66 | 57.42 | 59.78 | 65.36 | 67.55 |
| Operating CF / share | 2.52 | 3.47 | 5.23 | 5.36 | 6.06 | 6.36 | 6.61 | 7.12 | 7.53 |
| Free cash flow / share | 1.66 | 2.23 | 3.74 | 3.68 | 4.32 | 4.43 | 4.65 | 5.06 | 5.30 |
| Dividends / share | 1.03 | 1.14 | 1.28 | 1.44 | 1.64 | 1.64 | 1.68 | 1.85 | 2.02 |
| Payout ratio | +38.13% | +38.28% | +33.17% | +33.88% | +33.53% | +33.08% | +33.22% | +33.27% | +34.58% |
| Retention ratio | +61.87% | +61.72% | +66.83% | +66.12% | +66.47% | +66.92% | +66.78% | +66.73% | +65.42% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +2.85% | +8.57% | +3.95% | +7.12% | +6.21% | +5.88% | +7.90% | +3.06% | +5.67% |
| Gross profit · YoY | — | -0.35% | +17.98% | +6.04% | +8.38% | +7.46% | +1.61% | +9.20% | +2.65% | +6.49% |
| Profit | ||||||||||
| Operating income · YoY | — | +2.21% | +19.28% | +8.71% | +13.90% | +1.41% | +5.80% | +8.94% | -0.72% | +7.26% |
| EBITDA · YoY | — | +4.12% | +25.02% | +9.32% | +11.52% | +3.32% | +3.39% | +11.78% | +1.62% | +8.54% |
| Net income · YoY | — | +6.55% | +27.90% | +8.72% | +12.95% | +0.93% | +3.85% | +8.22% | +4.78% | +8.97% |
| Operating | ||||||||||
| EBIT · YoY | — | +4.49% | +28.09% | +8.48% | +11.28% | +4.31% | +6.58% | +5.14% | +3.89% | +8.79% |
| R&D · YoY | — | — | — | — | — | — | — | — | — | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | +10.00% | +29.97% | +10.36% | +14.55% | +7.28% | +10.10% | +10.86% | +7.20% | +12.34% |
| EPS · basic · YoY | — | +9.49% | +30.00% | +10.51% | +13.46% | +6.82% | +9.98% | +11.37% | +7.81% | +12.23% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $12.51B | $12.74B | $12.54B | $12.78B | $13.49B | $14.69B | $15.5B | $16.33B | $17.03B |
| Net debt | $6.28B | $7.27B | $6.94B | $7.44B | $7.26B | $8.36B | $8.48B | $8.91B | $9.51B |
| Net debt / EBITDA | 1.17 | 1.30 | 0.99 | 0.97 | 0.85 | 0.95 | 0.93 | 0.87 | 0.92 |
| Debt / equity | 2.08 | 2.00 | 1.72 | 1.52 | 1.32 | 1.50 | 1.54 | 1.46 | 1.54 |
| Debt / assets | +43.95% | +44.95% | +42.16% | +40.25% | +37.71% | +41.20% | +39.81% | +39.08% | +40.43% |
| Equity / assets | +21.09% | +22.45% | +24.55% | +26.44% | +28.49% | +27.43% | +25.86% | +26.75% | +26.23% |
| Coverage | |||||||||
| EBITDA / interest expense | 45.25 | 66.75 | 88.73 | 100.83 | — | 151.77 | 140.60 | 149.31 | 143.59 |
| Operating income / interest | 39.96 | 57.86 | 73.38 | 82.92 | — | 125.12 | 118.61 | 122.76 | 115.33 |
| Interest expense | $119M | $84M | $79M | $76M | $0 | $58.18M | $64.93M | $68.34M | $72.22M |
| Liquidity | |||||||||
| Current ratio | 1.27 | 1.21 | 1.21 | 1.18 | 1.14 | — | — | — | — |
| Quick ratio | 0.66 | 0.60 | 0.59 | 0.54 | 0.51 | — | — | — | — |
| Cash ratio | 0.59 | 0.53 | 0.54 | 0.48 | 0.47 | — | — | — | — |
| Working capital | $2.79B | $2.15B | $2.21B | $1.98B | $1.84B | — | — | — | — |
| Working capital / revenue | +5.75% | +4.31% | +4.08% | +3.52% | +3.05% | — | — | — | — |
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).