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 | +62.10% | +39.55% | +40.65% | +41.58% | +28.18% | +36.49% | +37.88% | +36.31% | +36.56% |
| Operating margin | +16.50% | -21.79% | -3.75% | -25.51% | +3.51% | -8.61% | -8.68% | -8.81% | -8.45% |
| EBITDA margin | +58.64% | +41.90% | +54.13% | +29.53% | +25.25% | +36.00% | +35.43% | +36.36% | +35.87% |
| EBIT margin | +16.95% | -21.24% | -3.97% | -23.83% | +10.01% | -5.97% | -5.91% | -5.92% | -6.03% |
| Pre-tax margin | +11.75% | -26.50% | -9.35% | -28.96% | +4.39% | -11.41% | -11.63% | -11.47% | -11.12% |
| Net margin | +8.25% | -21.80% | -7.57% | -28.77% | +1.95% | -11.73% | -11.12% | -11.37% | -11.70% |
| Cost structure | |||||||||
| Cost of revenue / sales | +37.90% | +60.45% | +59.35% | +58.42% | +71.82% | +64.28% | +61.68% | +63.30% | +64.71% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +32.94% | +28.62% | +23.47% | +23.64% | +25.25% | +23.96% | +23.94% | +24.78% | +24.61% |
| Effective tax rate | +16.47% | — | — | — | +54.30% | — | — | — | — |
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) | +7.51% | -15.15% | -6.73% | -32.37% | +1.96% | -11.49% | -11.33% | -11.36% | -11.61% |
| Return on assets (ROA) | +2.92% | -5.50% | -2.55% | -10.82% | +0.73% | -4.30% | -4.09% | -4.20% | -4.29% |
| Return on capital (ROC) | +7.15% | -7.55% | -1.72% | -13.48% | +1.88% | -4.32% | -4.37% | -4.46% | -4.30% |
| Return on invested capital (ROIC) | +3.57% | -5.66% | -1.29% | -10.11% | +1.04% | -3.24% | -3.28% | -3.35% | -3.23% |
| Asset turnover | +35.41% | +25.24% | +33.66% | +37.61% | +37.26% | +36.62% | +36.76% | +36.94% | +36.68% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +8.25% | -21.80% | -7.57% | -28.77% | +1.95% | -11.73% | -11.12% | -11.37% | -11.70% |
| Asset turnover (× revenue / assets) | +35.41% | +25.24% | +33.66% | +37.61% | +37.26% | +36.62% | +36.76% | +36.94% | +36.68% |
| Equity multiplier (× assets / equity) | +256.99% | +275.34% | +264.15% | +299.27% | +269.29% | +267.35% | +277.10% | +270.51% | +270.50% |
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 | 0.35 | 0.25 | 0.34 | 0.38 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 |
| Fixed-asset turnover | 9.13 | 6.38 | 6.94 | 6.46 | 5.58 | — | — | — | — |
| Inventory turnover | — | — | — | — | — | — | — | — | — |
| Receivables turnover | 4.98 | 4.44 | 5.65 | 6.64 | 7.04 | — | — | — | — |
| Payables turnover | 11.21 | 14.06 | 19.47 | 21.77 | 24.51 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 73.23 | 82.15 | 64.59 | 55.01 | 51.81 | — | — | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | 32.55 | 25.96 | 18.75 | 16.76 | 14.89 | — | — | — | — |
| Cash conversion cycle | 40.68 | 56.19 | 45.84 | 38.24 | 36.92 | — | — | — | — |
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 | 2.78 | -0.58 | -2.39 | -0.48 | 5.94 | -1.25 | -1.32 | -1.28 | -1.24 |
| FCF / Net income | 2.41 | -0.45 | -1.97 | -0.39 | 4.25 | -0.97 | -1.05 | -1.00 | -0.97 |
| FCF margin | +19.89% | +9.81% | +14.91% | +11.26% | +8.28% | +11.38% | +11.72% | +11.41% | +11.30% |
| OCF margin | +22.95% | +12.73% | +18.09% | +13.67% | +11.58% | +14.62% | +14.70% | +14.58% | +14.55% |
| CapEx / Revenue | +3.06% | +2.92% | +3.18% | +2.41% | +3.30% | +2.91% | +3.05% | +2.99% | +2.89% |
| CapEx / D&A | 0.07 | 0.05 | 0.05 | 0.05 | 0.22 | — | — | — | — |
| Stock-based comp / Revenue | +1.46% | +1.22% | +1.21% | +1.42% | 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 | 1.54 | -3.82 | -1.28 | -4.62 | 0.29 | -1.16 | -0.08 | 0.05 | -0.37 |
| EPS · basic | 1.55 | -3.82 | -1.28 | -4.62 | 0.29 | -1.18 | -0.08 | 0.05 | -0.36 |
| Book value / share | 20.05 | 25.09 | 19.08 | 14.26 | 14.69 | 14.98 | 14.79 | 15.17 | 15.59 |
| Tangible BV / share | -14.47 | -29.59 | -19.71 | -17.20 | -6.53 | 14.98 | 14.79 | 15.17 | 15.59 |
| Sales / share | 18.25 | 17.43 | 16.96 | 16.05 | 14.74 | 14.66 | 15.07 | 15.15 | 15.47 |
| Operating CF / share | 4.19 | 2.22 | 3.07 | 2.19 | 1.71 | 2.14 | 2.22 | 2.21 | 2.25 |
| Free cash flow / share | 3.63 | 1.71 | 2.53 | 1.81 | 1.22 | 1.67 | 1.77 | 1.73 | 1.75 |
| 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 | — | +177.39% | +22.19% | -4.84% | -5.15% | -0.87% | +2.45% | +1.14% | +1.77% | +15.64% |
| Gross profit · YoY | — | +76.66% | +25.57% | -2.64% | -35.72% | +28.36% | +6.35% | -3.06% | +2.47% | +8.23% |
| Profit | ||||||||||
| Operating income · YoY | — | -466.30% | +79.00% | -548.06% | +113.05% | -343.12% | -3.36% | -2.58% | +2.39% | — |
| EBITDA · YoY | — | +98.22% | +57.84% | -48.08% | -18.91% | +41.38% | +0.83% | +3.77% | +0.40% | +8.75% |
| Net income · YoY | — | -832.70% | +57.59% | -261.84% | +106.43% | -696.64% | +2.86% | -3.38% | -4.77% | — |
| Operating | ||||||||||
| EBIT · YoY | — | -447.68% | +77.14% | -470.71% | +139.82% | -159.13% | -1.38% | -1.41% | -3.65% | — |
| R&D · YoY | — | — | — | — | — | — | — | — | — | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -348.05% | +66.49% | -260.94% | +106.28% | -500.54% | +93.22% | +163.98% | -825.63% | — |
| EPS · basic · YoY | — | -346.45% | +66.49% | -260.94% | +106.28% | -505.43% | +93.22% | +162.44% | -825.56% | — |
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 | $14.76B | $49B | $43.67B | $39.51B | $32.57B | $35.94B | $38.12B | $37.24B | $37.27B |
| Net debt | $10.85B | $45.27B | $39.89B | $34.19B | $28B | $31.62B | $33.72B | $32.68B | $32.75B |
| Net debt / EBITDA | 1.52 | 3.19 | 1.78 | 2.94 | 2.97 | 2.38 | 2.51 | 2.35 | 2.34 |
| Debt / equity | 1.10 | 1.01 | 0.94 | 1.13 | 0.88 | 0.95 | 1.03 | 0.97 | 0.95 |
| Debt / assets | +42.87% | +36.57% | +35.57% | +37.78% | +32.54% | +35.59% | +37.00% | +35.91% | +35.07% |
| Equity / assets | +38.91% | +36.32% | +37.86% | +33.41% | +37.13% | +37.40% | +36.09% | +36.97% | +36.97% |
| Coverage | |||||||||
| EBITDA / interest expense | 11.29 | 7.97 | 10.07 | 5.76 | 4.50 | 6.79 | 6.78 | 6.83 | 6.82 |
| Operating income / interest | 3.18 | -4.15 | -0.70 | -4.97 | 0.63 | -1.62 | -1.66 | -1.65 | -1.61 |
| Interest expense | $633M | $1.78B | $2.22B | $2.02B | $2.09B | $1.96B | $1.98B | $2.04B | $2.05B |
| Liquidity | |||||||||
| Current ratio | 2.10 | 0.93 | 0.93 | 0.89 | 1.06 | — | — | — | — |
| Quick ratio | 1.84 | 0.76 | 0.72 | 0.71 | 0.79 | — | — | — | — |
| Cash ratio | 1.13 | 0.25 | 0.25 | 0.34 | 0.37 | — | — | — | — |
| Working capital | $3.81B | -$1.02B | -$1.11B | -$1.73B | $706M | — | — | — | — |
| Working capital / revenue | +31.21% | -3.01% | -2.70% | -4.40% | +1.89% | — | — | — | — |
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).