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 | +24.39% | +34.18% | +33.45% | +36.85% | +42.82% | +36.80% | +37.59% | +38.63% | +37.06% |
| Operating margin | +2.60% | -3.56% | +2.89% | +3.70% | +7.06% | +4.50% | +4.43% | +4.65% | +4.68% |
| EBITDA margin | +2.31% | +1.79% | +1.73% | +8.55% | +7.52% | +5.84% | +5.87% | +5.89% | +6.03% |
| EBIT margin | +1.08% | -0.16% | -0.13% | +6.99% | +7.52% | +4.68% | +4.86% | +4.76% | +4.81% |
| Pre-tax margin | +0.89% | -3.22% | -0.13% | +5.63% | +6.98% | +4.20% | +4.13% | +4.23% | +4.08% |
| Net margin | +0.94% | -3.08% | +0.04% | +12.01% | +5.39% | +4.62% | +4.51% | +4.44% | +4.54% |
| Cost structure | |||||||||
| Cost of revenue / sales | +75.61% | +65.82% | +66.55% | +63.15% | +57.18% | +62.27% | +61.76% | +63.24% | +62.18% |
| R&D intensity | +7.47% | +12.18% | +12.41% | +12.08% | 0.00% | +7.95% | +7.95% | +7.96% | +8.39% |
| SG&A intensity | +14.32% | +21.36% | +18.15% | +17.14% | +8.26% | +14.89% | +14.74% | +14.30% | +14.69% |
| Effective tax rate | -0.87% | — | — | -111.21% | +22.82% | +22.70% | +23.31% | +21.85% | +23.43% |
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) | +5.02% | -3.13% | +0.05% | +13.64% | +5.88% | +5.29% | +5.07% | +4.91% | +5.19% |
| Return on assets (ROA) | +1.19% | -1.72% | +0.03% | +7.88% | +3.30% | +2.92% | +2.94% | +2.92% | +2.88% |
| Return on capital (ROC) | +5.19% | -2.65% | +2.56% | +3.06% | +5.49% | +3.76% | +3.64% | +3.78% | +3.90% |
| Return on invested capital (ROIC) | +1.88% | -1.99% | +0.04% | +9.94% | +4.19% | +3.86% | +3.70% | +3.61% | +3.79% |
| Asset turnover | +126.82% | +55.90% | +66.35% | +65.59% | +61.17% | +63.20% | +65.21% | +65.76% | +63.53% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +0.94% | -3.08% | +0.04% | +12.01% | +5.39% | +4.62% | +4.51% | +4.44% | +4.54% |
| Asset turnover (× revenue / assets) | +126.82% | +55.90% | +66.35% | +65.59% | +61.17% | +63.20% | +65.21% | +65.76% | +63.53% |
| Equity multiplier (× assets / equity) | +420.26% | +181.81% | +176.71% | +173.19% | +178.39% | +181.20% | +172.31% | +168.14% | +180.14% |
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 | 1.27 | 0.56 | 0.66 | 0.66 | 0.61 | 0.63 | 0.65 | 0.66 | 0.64 |
| Fixed-asset turnover | 24.14 | 24.96 | 40.53 | 45.14 | 44.94 | — | — | — | — |
| Inventory turnover | 173.29 | 118.11 | 132.47 | 145.08 | 87.38 | — | — | — | — |
| Receivables turnover | 8.41 | 3.29 | 3.05 | 4.25 | 2.72 | — | — | — | — |
| Payables turnover | 39.65 | 20.67 | 102.31 | 129.13 | 120.74 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 43.39 | 110.85 | 119.81 | 85.79 | 134.01 | — | — | — | — |
| Days inventory outstanding (DIO) | 2.11 | 3.09 | 2.76 | 2.52 | 4.18 | — | — | — | — |
| Days payables outstanding (DPO) | 9.21 | 17.66 | 3.57 | 2.83 | 3.02 | — | — | — | — |
| Cash conversion cycle | 36.29 | 96.28 | 119.00 | 85.48 | 135.17 | — | — | — | — |
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 | 5.10 | -0.33 | 10.33 | 0.59 | 1.98 | 1.28 | 1.32 | 1.34 | 1.30 |
| FCF / Net income | 3.27 | -0.01 | -5.14 | 0.54 | 1.86 | 1.16 | 1.17 | 1.25 | 1.22 |
| FCF margin | +3.08% | +0.03% | -0.23% | +6.44% | +10.02% | +5.35% | +5.27% | +5.57% | +5.53% |
| OCF margin | +4.80% | +1.00% | +0.46% | +7.08% | +10.66% | +5.91% | +5.97% | +5.95% | +5.89% |
| CapEx / Revenue | +1.72% | +0.97% | +0.69% | +0.64% | +0.64% | +0.66% | +0.64% | +0.65% | +0.67% |
| CapEx / D&A | 2.26 | 0.50 | 0.37 | 0.41 | 0.42 | — | — | — | — |
| Stock-based comp / Revenue | +3.44% | +6.11% | +5.82% | +5.28% | +5.02% | — | — | — | — |
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 | 0.33 | -0.93 | 0.02 | 4.55 | 2.10 | 3.89 | 5.05 | 6.28 | 7.45 |
| EPS · basic | 0.36 | -0.93 | 0.02 | 4.70 | 2.13 | 4.02 | 5.18 | 6.32 | 7.58 |
| Book value / share | 6.60 | 29.80 | 30.44 | 33.37 | 35.59 | 36.44 | 41.69 | 47.11 | 50.13 |
| Tangible BV / share | 5.06 | 5.65 | 8.16 | 13.18 | 14.51 | 36.44 | 41.69 | 47.11 | 50.13 |
| Sales / share | 35.20 | 30.28 | 35.69 | 37.90 | 38.84 | 41.73 | 46.85 | 52.10 | 57.37 |
| Operating CF / share | 1.69 | 0.30 | 0.16 | 2.68 | 4.14 | 2.47 | 2.80 | 3.10 | 3.38 |
| Free cash flow / share | 1.08 | 0.01 | -0.08 | 2.44 | 3.89 | 2.23 | 2.47 | 2.90 | 3.17 |
| 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 | — | -0.73% | +25.01% | +10.06% | +0.30% | +7.29% | +11.73% | +12.52% | +8.76% | +9.12% |
| Gross profit · YoY | — | +39.10% | +22.35% | +21.26% | +16.55% | -7.79% | +14.12% | +15.64% | +4.33% | +14.97% |
| Profit | ||||||||||
| Operating income · YoY | — | -236.26% | +201.33% | +41.01% | +91.46% | -31.64% | +9.99% | +18.17% | +9.37% | +17.45% |
| EBITDA · YoY | — | -23.31% | +21.12% | +443.64% | -11.80% | -16.74% | +12.42% | +12.95% | +11.28% | +23.00% |
| Net income · YoY | — | -425.19% | +101.81% | +29546.41% | -54.98% | -8.09% | +9.12% | +10.82% | +11.11% | +32.82% |
| Operating | ||||||||||
| EBIT · YoY | — | -114.31% | -6.84% | +5887.15% | +7.87% | -33.21% | +16.06% | +10.22% | +9.88% | +31.54% |
| R&D · YoY | — | +61.79% | +27.40% | +7.12% | -100.00% | — | +11.73% | +12.73% | +14.60% | +10.70% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -381.82% | +101.71% | +28516.35% | -53.85% | +85.23% | +29.86% | +24.32% | +18.56% | +47.63% |
| EPS · basic · YoY | — | -358.33% | +101.72% | +29275.00% | -54.68% | +88.52% | +28.96% | +22.11% | +19.92% | +46.37% |
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 | $5.52B | $6.33B | $6.07B | $7.92B | $8.97B | $8.37B | $9.5B | $10.6B | $11.53B |
| Net debt | $1.07B | -$1.39B | -$2.1B | -$4.34B | -$2.37B | -$3.64B | -$3.75B | -$4.19B | -$4.84B |
| Net debt / EBITDA | 2.63 | -4.44 | -5.52 | -2.10 | -1.30 | -2.40 | -2.20 | -2.18 | -2.26 |
| Debt / equity | 1.66 | 0.37 | 0.32 | 0.37 | 0.40 | 0.37 | 0.37 | 0.36 | 0.37 |
| Debt / assets | +39.61% | +20.19% | +18.38% | +21.53% | +22.67% | +20.37% | +21.37% | +21.35% | +20.65% |
| Equity / assets | +23.79% | +55.00% | +56.59% | +57.74% | +56.06% | +55.19% | +58.04% | +59.47% | +55.51% |
| Coverage | |||||||||
| EBITDA / interest expense | 12.33 | 8.65 | — | 221.75 | 14.06 | 30.17 | 29.87 | 30.09 | 31.84 |
| Operating income / interest | 13.84 | -17.24 | — | 95.93 | 13.21 | 23.26 | 22.53 | 23.74 | 24.69 |
| Interest expense | $33.12M | $36.23M | $0 | $9.3M | $129.36M | $50.2M | $57.01M | $63.93M | $67.23M |
| Liquidity | |||||||||
| Current ratio | 1.94 | 1.85 | 2.01 | 2.33 | 2.20 | — | — | — | — |
| Quick ratio | 1.88 | 1.68 | 1.87 | 2.16 | 2.01 | — | — | — | — |
| Cash ratio | 0.82 | 0.92 | 0.92 | 1.43 | 1.09 | — | — | — | — |
| Working capital | $5.09B | $7.19B | $8.94B | $11.33B | $12.47B | — | — | — | — |
| Working capital / revenue | +28.80% | +41.01% | +40.77% | +46.99% | +51.55% | — | — | — | — |
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).