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 | +25.10% | +24.14% | +24.38% | +24.85% | +24.93% | +24.14% | +24.20% | +25.37% | +24.32% |
| Operating margin | +4.53% | +3.34% | +4.17% | +4.31% | +4.18% | +4.25% | +4.23% | +4.31% | +4.21% |
| EBITDA margin | +5.47% | +4.92% | +5.61% | +6.17% | +6.52% | +6.18% | +5.98% | +6.07% | +6.27% |
| EBIT margin | +3.61% | +3.13% | +3.78% | +4.26% | +4.52% | +4.28% | +4.09% | +4.32% | +4.30% |
| Pre-tax margin | +3.26% | +2.78% | +3.37% | +3.86% | +4.13% | +3.68% | +3.73% | +3.78% | +3.73% |
| Net margin | +2.39% | +1.91% | +2.39% | +2.85% | +3.07% | +2.80% | +2.70% | +2.79% | +2.80% |
| Cost structure | |||||||||
| Cost of revenue / sales | +74.90% | +75.86% | +75.62% | +75.15% | +75.07% | +76.50% | +76.39% | +75.03% | +75.91% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +20.57% | +20.80% | +20.21% | +20.54% | +20.74% | +20.44% | +20.53% | +20.50% | +20.73% |
| Effective tax rate | +25.44% | +33.64% | +25.53% | +23.38% | +24.43% | +24.46% | +24.85% | +23.94% | +24.84% |
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) | +14.88% | +13.91% | +17.13% | +19.90% | +20.62% | +19.85% | +18.77% | +19.35% | +19.80% |
| Return on assets (ROA) | +5.58% | +4.80% | +6.15% | +7.45% | +7.69% | +7.18% | +7.07% | +7.33% | +7.11% |
| Return on capital (ROC) | +17.39% | +14.29% | +17.78% | +18.60% | +17.21% | +18.06% | +17.73% | +18.31% | +18.08% |
| Return on invested capital (ROIC) | +9.16% | +8.17% | +10.21% | +12.32% | +12.63% | +11.89% | +11.30% | +11.83% | +12.04% |
| Asset turnover | +233.91% | +251.36% | +256.79% | +261.09% | +250.52% | +256.80% | +262.13% | +263.07% | +253.72% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +2.39% | +1.91% | +2.39% | +2.85% | +3.07% | +2.80% | +2.70% | +2.79% | +2.80% |
| Asset turnover (× revenue / assets) | +233.91% | +251.36% | +256.79% | +261.09% | +250.52% | +256.80% | +262.13% | +263.07% | +253.72% |
| Equity multiplier (× assets / equity) | +266.47% | +289.55% | +278.68% | +266.99% | +268.10% | +276.47% | +265.30% | +263.88% | +278.45% |
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 | 2.34 | 2.51 | 2.57 | 2.61 | 2.51 | 2.57 | 2.62 | 2.63 | 2.54 |
| Fixed-asset turnover | 5.09 | 5.13 | 4.97 | 4.87 | 4.54 | — | — | — | — |
| Inventory turnover | 7.59 | 8.20 | 8.93 | 9.07 | 9.10 | — | — | — | — |
| Receivables turnover | 69.17 | 77.06 | 73.68 | 68.27 | 63.83 | — | — | — | — |
| Payables turnover | 7.76 | 8.63 | 8.63 | 8.72 | 8.49 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 5.28 | 4.74 | 4.95 | 5.35 | 5.72 | — | — | — | — |
| Days inventory outstanding (DIO) | 48.08 | 44.53 | 40.88 | 40.25 | 40.12 | — | — | — | — |
| Days payables outstanding (DPO) | 47.02 | 42.30 | 42.31 | 41.84 | 42.99 | — | — | — | — |
| Cash conversion cycle | 6.34 | 6.97 | 3.52 | 3.76 | 2.85 | — | — | — | — |
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 | 1.77 | 2.47 | 2.30 | 1.88 | 1.90 | 1.97 | 2.12 | 1.94 | 2.02 |
| FCF / Net income | 0.81 | 1.03 | 0.97 | 0.65 | 0.68 | 0.75 | 0.79 | 0.76 | 0.75 |
| FCF margin | +1.93% | +1.96% | +2.33% | +1.86% | +2.09% | +2.11% | +2.14% | +2.13% | +2.10% |
| OCF margin | +4.22% | +4.72% | +5.51% | +5.35% | +5.83% | +5.51% | +5.73% | +5.42% | +5.67% |
| CapEx / Revenue | +2.29% | +2.76% | +3.18% | +3.49% | +3.74% | +3.40% | +3.48% | +3.44% | +3.46% |
| CapEx / D&A | 1.23 | 1.54 | 1.74 | 1.83 | 1.88 | — | — | — | — |
| Stock-based comp / Revenue | 0.00% | 0.00% | 0.00% | 0.00% | 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 | 1.62 | 1.42 | 1.91 | 2.41 | 2.73 | 2.90 | 3.28 | 3.67 | 3.97 |
| EPS · basic | 1.63 | 1.43 | 1.92 | 2.42 | 2.74 | 2.93 | 3.26 | 3.72 | 3.97 |
| Book value / share | 10.92 | 10.24 | 11.17 | 12.09 | 13.24 | 13.18 | 13.98 | 14.75 | 15.28 |
| Tangible BV / share | 7.47 | 6.81 | 7.70 | 8.53 | 9.65 | 13.18 | 13.98 | 14.75 | 15.28 |
| Sales / share | 68.06 | 74.53 | 79.93 | 84.27 | 88.90 | 93.58 | 97.21 | 102.37 | 107.96 |
| Operating CF / share | 2.87 | 3.52 | 4.41 | 4.51 | 5.18 | 5.16 | 5.57 | 5.55 | 6.13 |
| Free cash flow / share | 1.32 | 1.46 | 1.86 | 1.57 | 1.86 | 1.97 | 2.08 | 2.18 | 2.27 |
| Dividends / share | 0.73 | 0.75 | 0.76 | 0.83 | 0.94 | 0.92 | 0.96 | 1.03 | 1.10 |
| Payout ratio | +44.99% | +52.35% | +39.58% | +34.41% | +34.29% | +35.28% | +36.74% | +35.99% | +36.20% |
| Retention ratio | +55.01% | +47.65% | +60.42% | +65.59% | +65.71% | +64.72% | +63.26% | +64.01% | +63.80% |
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 | — | +6.73% | +6.03% | +5.07% | +4.73% | +5.46% | +4.66% | +5.17% | +3.70% | +5.19% |
| Gross profit · YoY | — | +2.65% | +7.06% | +7.12% | +5.04% | +2.12% | +4.93% | +10.27% | -0.60% | +4.78% |
| Profit | ||||||||||
| Operating income · YoY | — | -21.26% | +32.23% | +8.65% | +1.63% | +7.14% | +4.27% | +7.19% | +1.14% | +4.22% |
| EBITDA · YoY | — | -4.02% | +20.92% | +15.46% | +10.62% | +0.03% | +1.26% | +6.76% | +7.13% | +6.99% |
| Net income · YoY | — | -14.58% | +32.80% | +25.30% | +12.64% | -3.95% | +1.02% | +8.64% | +4.26% | +7.32% |
| Operating | ||||||||||
| EBIT · YoY | — | -7.47% | +28.14% | +18.37% | +11.13% | -0.17% | -0.06% | +10.97% | +3.22% | +7.49% |
| R&D · YoY | — | — | — | — | — | — | — | — | — | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -12.35% | +34.51% | +26.18% | +13.28% | +6.33% | +12.95% | +11.79% | +8.31% | +11.86% |
| EPS · basic · YoY | — | -12.27% | +34.27% | +26.04% | +13.22% | +6.94% | +11.14% | +14.26% | +6.70% | +11.77% |
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 | $57.32B | $58.92B | $61.32B | $60.11B | $67.1B | $70.96B | $74.74B | $75.81B | $78.26B |
| Net debt | $42.56B | $50.3B | $51.45B | $51.08B | $56.37B | $60.11B | $63.56B | $63.47B | $65.48B |
| Net debt / EBITDA | 1.36 | 1.67 | 1.41 | 1.22 | 1.21 | 1.29 | 1.35 | 1.26 | 1.22 |
| Debt / equity | 0.62 | 0.70 | 0.68 | 0.62 | 0.63 | 0.67 | 0.66 | 0.64 | 0.64 |
| Debt / assets | +23.41% | +24.23% | +24.30% | +23.05% | +23.57% | +24.23% | +24.89% | +24.09% | +23.13% |
| Equity / assets | +37.53% | +34.54% | +35.88% | +37.46% | +37.30% | +36.17% | +37.69% | +37.90% | +35.91% |
| Coverage | |||||||||
| EBITDA / interest expense | 15.72 | 14.14 | 13.56 | 15.40 | 16.60 | 15.56 | 14.58 | 15.49 | 15.70 |
| Operating income / interest | 13.01 | 9.60 | 10.07 | 10.76 | 10.66 | 10.70 | 10.32 | 11.01 | 10.54 |
| Interest expense | $1.99B | $2.13B | $2.68B | $2.73B | $2.8B | $2.99B | $3.23B | $3.24B | $3.43B |
| Liquidity | |||||||||
| Current ratio | 0.93 | 0.82 | 0.83 | 0.82 | 0.79 | — | — | — | — |
| Quick ratio | 0.26 | 0.18 | 0.20 | 0.20 | 0.20 | — | — | — | — |
| Cash ratio | 0.17 | 0.09 | 0.11 | 0.09 | 0.10 | — | — | — | — |
| Working capital | -$6.31B | -$16.54B | -$15.54B | -$17.13B | -$22.6B | — | — | — | — |
| Working capital / revenue | -1.10% | -2.71% | -2.40% | -2.51% | -3.17% | — | — | — | — |
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).