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 |
|---|---|---|---|---|---|---|---|---|
| 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 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin | +40.17% | +35.55% | +21.92% | +18.43% | +7.47% | +15.55% | +15.52% | +15.67% |
| Operating margin | +35.71% | +30.24% | +15.45% | +9.62% | +6.73% | +10.36% | +10.41% | +10.40% |
| EBITDA margin | +40.25% | +30.00% | +22.37% | +16.82% | +15.09% | +18.26% | +17.79% | +18.06% |
| EBIT margin | +35.57% | +25.28% | +15.86% | +9.77% | +7.72% | +11.35% | +11.33% | +11.32% |
| Pre-tax margin | +32.51% | +22.63% | +12.21% | +5.99% | +3.77% | +7.27% | +7.44% | +7.35% |
| Net margin | +25.56% | +18.46% | +10.93% | +5.56% | +4.69% | +6.90% | +6.86% | +6.95% |
| Cost structure | ||||||||
| Cost of revenue / sales | +59.83% | +64.45% | +78.08% | +81.57% | +92.53% | +85.32% | +83.38% | +85.64% |
| R&D intensity | +0.05% | +0.06% | +0.09% | +0.10% | 0.00% | +0.06% | +0.06% | +0.06% |
| SG&A intensity | +4.81% | +4.82% | +6.75% | +7.97% | +7.89% | +7.58% | +7.72% | +7.70% |
| Effective tax rate | +21.38% | +18.44% | +10.46% | +7.26% | -24.62% | +9.14% | +8.69% | +8.60% |
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 |
|---|---|---|---|---|---|---|---|---|
| Returns | ||||||||
| Return on equity (ROE) | +24.21% | +17.49% | +8.20% | +4.07% | +3.44% | +5.06% | +5.10% | +5.01% |
| Return on assets (ROA) | +14.77% | +10.84% | +4.94% | +2.39% | +1.95% | +2.98% | +2.94% | +2.99% |
| Return on capital (ROC) | +22.93% | +19.46% | +7.74% | +4.62% | +3.10% | +5.00% | +5.03% | +4.87% |
| Return on invested capital (ROIC) | +16.41% | +11.88% | +5.48% | +2.67% | +2.16% | +3.33% | +3.31% | +3.26% |
| Asset turnover | +57.79% | +58.73% | +45.19% | +43.08% | +41.56% | +43.18% | +42.80% | +43.01% |
| DuPont · ROE decomposition | ||||||||
| Net margin | +25.56% | +18.46% | +10.93% | +5.56% | +4.69% | +6.90% | +6.86% | +6.95% |
| Asset turnover (× revenue / assets) | +57.79% | +58.73% | +45.19% | +43.08% | +41.56% | +43.18% | +42.80% | +43.01% |
| Equity multiplier (× assets / equity) | +163.95% | +161.32% | +165.91% | +170.11% | +176.25% | +169.80% | +173.44% | +167.39% |
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 |
|---|---|---|---|---|---|---|---|---|
| Turnover | ||||||||
| Asset turnover | 0.58 | 0.59 | 0.45 | 0.43 | 0.42 | 0.43 | 0.43 | 0.43 |
| Fixed-asset turnover | 0.72 | 0.71 | 0.53 | 0.49 | 2.50 | — | — | — |
| Inventory turnover | 11.74 | 11.93 | 10.59 | 9.57 | 10.77 | — | — | — |
| Receivables turnover | 19.21 | 25.52 | 21.08 | 22.62 | 22.06 | — | — | — |
| Payables turnover | 21.72 | 26.57 | 20.88 | 22.79 | 22.98 | — | — | — |
| Days outstanding | ||||||||
| Days sales outstanding (DSO) | 19.00 | 14.30 | 17.31 | 16.14 | 16.55 | — | — | — |
| Days inventory outstanding (DIO) | 31.10 | 30.58 | 34.48 | 38.13 | 33.88 | — | — | — |
| Days payables outstanding (DPO) | 16.81 | 13.73 | 17.48 | 16.02 | 15.88 | — | — | — |
| Cash conversion cycle | 33.29 | 31.15 | 34.31 | 38.25 | 34.54 | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 1.21 | 1.51 | 1.71 | 2.55 | 1.73 | 1.95 | 2.03 | 2.01 |
| FCF / Net income | 0.99 | 1.10 | 0.90 | 0.86 | 0.27 | 0.75 | 0.77 | 0.76 |
| FCF margin | +25.18% | +20.32% | +9.81% | +4.79% | +1.27% | +5.14% | +5.31% | +5.31% |
| OCF margin | +30.97% | +27.81% | +18.67% | +14.15% | +8.14% | +13.46% | +13.91% | +13.95% |
| CapEx / Revenue | +5.78% | +7.49% | +8.86% | +9.36% | +6.86% | +8.61% | +8.41% | +8.41% |
| CapEx / D&A | 1.24 | 1.59 | 1.36 | 1.33 | 0.93 | — | — | — |
| Stock-based comp / Revenue | +0.29% | +0.32% | +0.47% | +0.60% | 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 |
|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 3.47 | 2.53 | 1.15 | 0.54 | 0.45 | 0.34 | 0.71 | 1.07 |
| EPS · basic | 3.48 | 2.53 | 1.15 | 0.54 | 0.45 | 0.34 | 0.71 | 1.07 |
| Book value / share | 14.34 | 14.47 | 13.98 | 13.34 | 13.06 | 13.22 | 14.31 | 15.47 |
| Tangible BV / share | 14.34 | 14.47 | 13.98 | 13.34 | 12.81 | 13.22 | 14.31 | 15.47 |
| Sales / share | 13.58 | 13.71 | 10.48 | 9.77 | 9.57 | 9.70 | 10.63 | 11.14 |
| Operating CF / share | 4.21 | 3.81 | 1.96 | 1.38 | 0.78 | 1.31 | 1.48 | 1.55 |
| Free cash flow / share | 3.42 | 2.78 | 1.03 | 0.47 | 0.12 | 0.50 | 0.56 | 0.59 |
| Dividends / share | 1.18 | 2.18 | 1.66 | 0.94 | 0.84 | 1.12 | 1.22 | 1.26 |
| Payout ratio | +33.91% | +86.01% | +144.93% | +172.73% | +187.04% | +167.69% | +166.85% | +162.11% |
| Retention ratio | +66.09% | +13.99% | -44.93% | -72.73% | -87.04% | -67.69% | -66.85% | -62.11% |
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 | 7y CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Top-line | |||||||||
| Revenue · YoY | — | -0.17% | -24.65% | -7.17% | -3.07% | +2.17% | +9.17% | +3.45% | -3.47% |
| Gross profit · YoY | — | -11.66% | -53.54% | -21.94% | -60.70% | +112.65% | +8.91% | +4.48% | -15.61% |
| Profit | |||||||||
| Operating income · YoY | — | -15.45% | -61.49% | -42.24% | -32.12% | +57.16% | +9.71% | +3.29% | -19.07% |
| EBITDA · YoY | — | -25.60% | -43.80% | -30.23% | -13.02% | +23.61% | +6.36% | +5.05% | -13.91% |
| Net income · YoY | — | -27.89% | -55.37% | -52.80% | -18.18% | +50.24% | +8.60% | +4.78% | -19.85% |
| Operating | |||||||||
| EBIT · YoY | — | -29.04% | -52.74% | -42.81% | -23.42% | +50.18% | +9.01% | +3.37% | -18.03% |
| R&D · YoY | — | +20.00% | +16.67% | 0.00% | -100.00% | — | +9.74% | +2.31% | +0.13% |
| Per-share | |||||||||
| EPS · diluted · YoY | — | -27.09% | -54.55% | -53.04% | -16.67% | -23.55% | +105.33% | +51.15% | -15.50% |
| EPS · basic · YoY | — | -27.30% | -54.55% | -53.04% | -16.67% | -23.97% | +107.40% | +50.59% | -15.52% |
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 |
|---|---|---|---|---|---|---|---|---|
| Leverage | ||||||||
| Total debt | $5.12B | $5.08B | $5.09B | $5.11B | $5.57B | $5B | $5.58B | $5.94B |
| Net debt | $3.24B | $3.49B | $3.92B | $4.42B | $5.11B | $4.25B | $4.75B | $5.09B |
| Net debt / EBITDA | 0.79 | 1.14 | 2.29 | 3.69 | 4.90 | 3.30 | 3.47 | 3.53 |
| Debt / equity | 0.48 | 0.47 | 0.50 | 0.53 | 0.59 | 0.52 | 0.54 | 0.54 |
| Debt / assets | +29.02% | +29.27% | +29.96% | +30.87% | +33.54% | +30.60% | +31.01% | +32.06% |
| Equity / assets | +61.00% | +61.99% | +60.27% | +58.79% | +56.74% | +58.89% | +57.66% | +59.74% |
| Coverage | ||||||||
| EBITDA / interest expense | 13.12 | 11.31 | 6.13 | 4.45 | 3.82 | 4.84 | 4.67 | 4.68 |
| Operating income / interest | 11.64 | 11.41 | 4.24 | 2.55 | 1.70 | 2.75 | 2.73 | 2.69 |
| Interest expense | $313M | $270M | $280M | $269M | $273M | $266M | $293.25M | $307.5M |
| Liquidity | ||||||||
| Current ratio | 3.29 | 1.58 | 2.94 | 1.79 | 1.29 | — | — | — |
| Quick ratio | 2.53 | 1.14 | 1.94 | 1.02 | 0.61 | — | — | — |
| Cash ratio | 1.97 | 0.91 | 1.48 | 0.70 | 0.36 | — | — | — |
| Working capital | $2.18B | $1.01B | $1.53B | $771M | $374M | — | — | — |
| Working capital / revenue | +21.38% | +9.88% | +19.87% | +10.82% | +5.42% | — | — | — |
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).