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 | +19.92% | +46.88% | +47.89% | +49.40% | +37.63% | +45.79% | +45.58% | +45.91% | +44.26% |
| Operating margin | +29.11% | +25.43% | +26.57% | +29.02% | +33.82% | +29.15% | +29.94% | +29.47% | +30.08% |
| EBITDA margin | +43.51% | +45.27% | +47.04% | +51.04% | +39.68% | +44.91% | +45.16% | +46.03% | +46.30% |
| EBIT margin | +29.18% | +30.21% | +32.15% | +36.43% | +26.04% | +31.17% | +30.64% | +32.06% | +31.74% |
| Pre-tax margin | +20.98% | +21.73% | +22.73% | +26.82% | +26.04% | +25.14% | +25.63% | +24.83% | +25.77% |
| Net margin | +19.95% | +20.70% | +22.38% | +25.61% | +25.24% | +24.56% | +24.70% | +24.63% | +24.63% |
| Cost structure | |||||||||
| Cost of revenue / sales | +80.08% | +53.12% | +52.11% | +50.60% | +62.37% | +53.54% | +56.28% | +55.04% | +55.86% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +6.22% | +6.73% | +6.82% | +6.15% | +3.50% | +5.58% | +5.49% | +5.53% | +5.60% |
| Effective tax rate | 0.00% | 0.00% | -3.29% | -0.09% | -0.82% | -1.43% | -1.34% | -1.44% | -1.38% |
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) | +17.66% | +18.76% | +20.97% | +20.12% | +21.30% | +21.42% | +20.56% | +20.54% | +20.59% |
| Return on assets (ROA) | +4.95% | +5.18% | +5.60% | +6.50% | +6.73% | +6.23% | +6.23% | +6.24% | +6.40% |
| Return on capital (ROC) | +8.04% | +7.13% | +7.44% | +8.27% | +10.00% | +8.44% | +8.68% | +8.42% | +8.60% |
| Return on invested capital (ROIC) | +5.51% | +5.80% | +6.26% | +7.30% | +7.46% | +7.11% | +7.16% | +7.03% | +7.05% |
| Asset turnover | +24.79% | +25.03% | +25.02% | +25.39% | +26.65% | +25.36% | +25.23% | +25.32% | +26.00% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +19.95% | +20.70% | +22.38% | +25.61% | +25.24% | +24.56% | +24.70% | +24.63% | +24.63% |
| Asset turnover (× revenue / assets) | +24.79% | +25.03% | +25.02% | +25.39% | +26.65% | +25.36% | +25.23% | +25.32% | +26.00% |
| Equity multiplier (× assets / equity) | +357.15% | +361.95% | +374.59% | +309.56% | +316.58% | +343.87% | +329.95% | +329.39% | +321.62% |
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 | 0.25 | 0.25 | 0.25 | 0.25 | 0.27 | 0.25 | 0.25 | 0.25 | 0.26 |
| Fixed-asset turnover | — | — | — | — | — | — | — | — | — |
| Inventory turnover | — | — | — | — | — | — | — | — | — |
| Receivables turnover | 32.93 | 30.31 | 28.12 | 28.26 | 16.40 | — | — | — | — |
| Payables turnover | 6.12 | 4.17 | 4.83 | 4.56 | — | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 11.08 | 12.04 | 12.98 | 12.92 | 22.25 | — | — | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | 59.68 | 87.53 | 75.60 | 80.13 | — | — | — | — | — |
| Cash conversion cycle | -48.60 | -75.49 | -62.62 | -67.21 | 22.25 | — | — | — | — |
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 | 1.94 | 1.67 | 1.74 | 1.63 | 1.48 | 1.64 | 1.63 | 1.55 | 1.64 |
| FCF / Net income | 1.16 | 0.80 | 0.73 | 0.97 | 0.86 | 0.84 | 0.85 | 0.87 | 0.86 |
| FCF margin | +23.16% | +16.48% | +16.44% | +24.80% | +21.81% | +20.69% | +20.88% | +21.50% | +21.24% |
| OCF margin | +38.69% | +34.61% | +39.02% | +41.63% | +37.30% | +40.23% | +40.15% | +38.20% | +40.43% |
| CapEx / Revenue | +15.53% | +18.13% | +22.58% | +16.83% | +15.48% | +18.15% | +18.17% | +18.19% | +18.19% |
| CapEx / D&A | 1.07 | 1.20 | 1.52 | 1.15 | 1.11 | — | — | — | — |
| Stock-based comp / Revenue | +0.96% | +0.64% | +1.27% | +0.65% | +0.47% | — | — | — | — |
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 | 1.43 | 1.53 | 1.69 | 1.96 | 1.93 | 2.03 | 2.19 | 2.38 | 2.45 |
| EPS · basic | 1.43 | 1.53 | 1.69 | 1.96 | 1.93 | 2.01 | 2.20 | 2.40 | 2.48 |
| Book value / share | 8.12 | 7.77 | 7.67 | 9.27 | 9.07 | 8.98 | 9.77 | 10.25 | 11.16 |
| Tangible BV / share | 8.12 | 7.77 | 7.67 | 9.08 | 8.79 | 8.98 | 9.77 | 10.25 | 11.16 |
| Sales / share | 7.19 | 7.04 | 7.19 | 7.29 | 7.65 | 7.83 | 8.13 | 8.55 | 9.33 |
| Operating CF / share | 2.78 | 2.44 | 2.80 | 3.03 | 2.85 | 3.15 | 3.26 | 3.27 | 3.77 |
| Free cash flow / share | 1.67 | 1.16 | 1.18 | 1.81 | 1.67 | 1.62 | 1.70 | 1.84 | 1.98 |
| Dividends / share | 1.51 | 1.59 | 1.75 | 1.87 | 2.02 | 2.05 | 2.03 | 2.19 | 2.40 |
| Payout ratio | +105.04% | +109.25% | +109.02% | +100.19% | +104.78% | +106.64% | +100.83% | +103.98% | +104.56% |
| Retention ratio | -5.04% | -9.25% | -9.02% | -0.19% | -4.78% | -6.64% | -0.83% | -3.98% | -4.56% |
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 | — | +4.51% | +2.13% | +2.07% | +6.84% | +2.60% | +4.43% | +4.45% | +8.36% | +4.40% |
| Gross profit · YoY | — | +145.97% | +4.34% | +5.28% | -18.60% | +24.84% | +3.95% | +5.22% | +4.46% | +15.36% |
| Profit | ||||||||||
| Operating income · YoY | — | -8.68% | +6.69% | +11.49% | +24.50% | -11.57% | +7.27% | +2.80% | +10.60% | +4.83% |
| EBITDA · YoY | — | +8.74% | +6.14% | +10.74% | -16.93% | +16.12% | +5.01% | +6.47% | +8.99% | +5.22% |
| Net income · YoY | — | +8.44% | +10.39% | +16.81% | +5.31% | -0.16% | +5.02% | +4.14% | +8.37% | +7.19% |
| Operating | ||||||||||
| EBIT · YoY | — | +8.18% | +8.70% | +15.65% | -23.63% | +22.82% | +2.63% | +9.30% | +7.29% | +5.50% |
| R&D · YoY | — | — | — | — | — | — | — | — | — | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | +6.99% | +10.46% | +15.98% | -1.53% | +4.93% | +8.18% | +8.52% | +3.06% | +6.96% |
| EPS · basic · YoY | — | +6.99% | +10.46% | +15.98% | -1.53% | +4.05% | +9.35% | +9.33% | +3.42% | +7.14% |
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 | $3.27B | $3.39B | $3.52B | $3.2B | $3.37B | $3.62B | $3.69B | $3.95B | $4.27B |
| Net debt | $3.18B | $3.39B | $3.51B | $3.2B | $3.34B | $3.61B | $3.68B | $3.93B | $4.26B |
| Net debt / EBITDA | 5.56 | 5.44 | 5.32 | 4.37 | 5.49 | 5.12 | 4.96 | 4.98 | 4.95 |
| Debt / equity | 2.20 | 2.23 | 2.35 | 1.76 | 1.85 | 2.01 | 1.87 | 1.92 | 1.92 |
| Debt / assets | +61.69% | +61.68% | +62.68% | +56.76% | +58.57% | +58.49% | +56.72% | +58.28% | +59.78% |
| Equity / assets | +28.00% | +27.63% | +26.70% | +32.30% | +31.59% | +29.08% | +30.31% | +30.36% | +31.09% |
| Coverage | |||||||||
| EBITDA / interest expense | 5.27 | 5.34 | 4.99 | 5.31 | 4.54 | 4.99 | 4.85 | 4.86 | 5.14 |
| Operating income / interest | 3.52 | 3.00 | 2.82 | 3.02 | 3.87 | 3.24 | 3.22 | 3.11 | 3.34 |
| Interest expense | $108.72M | $116.56M | $132.34M | $137.71M | $133.9M | $141.4M | $152.64M | $162.29M | $167.13M |
| Liquidity | |||||||||
| Current ratio | 0.18 | 0.09 | 0.13 | 0.11 | 1.68 | — | — | — | — |
| Quick ratio | 0.15 | 0.06 | 0.09 | 0.08 | 1.68 | — | — | — | — |
| Cash ratio | 0.10 | 0.00 | 0.01 | 0.01 | 0.37 | — | — | — | — |
| Working capital | -$733.13M | -$717.35M | -$547.63M | -$618.93M | $48.21M | — | — | — | — |
| Working capital / revenue | -55.72% | -52.17% | -39.00% | -43.18% | +3.15% | — | — | — | — |
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).