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 | +58.76% | +59.52% | +59.82% | +61.04% | +61.80% | +62.55% | +59.96% | +60.45% | +61.40% |
| Operating margin | +28.99% | +26.69% | +29.97% | +28.95% | +31.60% | +29.33% | +30.18% | +29.81% | +31.07% |
| EBITDA margin | +32.34% | +30.13% | +33.26% | +32.73% | +34.13% | +33.07% | +33.38% | +32.52% | +34.03% |
| EBIT margin | +29.00% | +26.72% | +30.12% | +29.28% | +31.66% | +30.66% | +29.66% | +29.45% | +29.77% |
| Pre-tax margin | +28.07% | +25.54% | +28.99% | +28.48% | +30.77% | +30.23% | +29.70% | +29.24% | +29.62% |
| Net margin | +23.17% | +20.17% | +23.08% | +22.78% | +24.62% | +23.48% | +23.17% | +23.30% | +22.94% |
| Cost structure | |||||||||
| Cost of revenue / sales | +41.24% | +40.48% | +40.18% | +38.96% | +38.20% | +39.21% | +39.66% | +40.17% | +38.32% |
| R&D intensity | +5.01% | +7.57% | +5.22% | +5.64% | +5.84% | +5.48% | +5.68% | +5.47% | +5.63% |
| SG&A intensity | +24.77% | +25.26% | +24.64% | +26.45% | +24.36% | +24.63% | +24.93% | +25.33% | +24.67% |
| Effective tax rate | +17.48% | +21.03% | +20.37% | +20.00% | +19.99% | +19.64% | +20.52% | +20.70% | +19.75% |
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) | +107.95% | +111.56% | +56.92% | +55.65% | +65.99% | +59.87% | +59.47% | +60.02% | +58.74% |
| Return on assets (ROA) | +30.56% | +24.72% | +25.92% | +26.96% | +31.62% | +28.30% | +27.07% | +27.06% | +27.79% |
| Return on capital (ROC) | +54.16% | +43.24% | +42.99% | +43.70% | +50.70% | +44.58% | +45.96% | +45.86% | +46.86% |
| Return on invested capital (ROIC) | +43.28% | +32.67% | +33.11% | +34.38% | +39.49% | +35.69% | +35.28% | +35.84% | +34.59% |
| Asset turnover | +131.93% | +122.59% | +112.30% | +118.34% | +128.44% | +120.54% | +116.82% | +116.18% | +121.16% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +23.17% | +20.17% | +23.08% | +22.78% | +24.62% | +23.48% | +23.17% | +23.30% | +22.94% |
| Asset turnover (× revenue / assets) | +131.93% | +122.59% | +112.30% | +118.34% | +128.44% | +120.54% | +116.82% | +116.18% | +121.16% |
| Equity multiplier (× assets / equity) | +353.22% | +451.22% | +219.59% | +206.44% | +208.72% | +211.57% | +219.71% | +221.75% | +211.36% |
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 | 1.32 | 1.23 | 1.12 | 1.18 | 1.28 | 1.21 | 1.17 | 1.16 | 1.21 |
| Fixed-asset turnover | 4.64 | 4.38 | 4.48 | 4.70 | 4.94 | — | — | — | — |
| Inventory turnover | 4.93 | 3.71 | 3.87 | 3.98 | 4.35 | — | — | — | — |
| Receivables turnover | 7.56 | 6.86 | 6.91 | 6.94 | 6.21 | — | — | — | — |
| Payables turnover | 11.42 | 12.37 | 13.29 | 13.30 | 14.89 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 48.31 | 53.21 | 52.79 | 52.57 | 58.79 | — | — | — | — |
| Days inventory outstanding (DIO) | 74.06 | 98.50 | 94.36 | 91.79 | 83.86 | — | — | — | — |
| Days payables outstanding (DPO) | 31.97 | 29.52 | 27.45 | 27.45 | 24.51 | — | — | — | — |
| Cash conversion cycle | 90.40 | 122.20 | 119.70 | 116.90 | 118.14 | — | — | — | — |
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 | 1.01 | 0.80 | 1.07 | 1.05 | 1.11 | 1.10 | 1.10 | 1.07 | 1.12 |
| FCF / Net income | 0.85 | 0.58 | 0.91 | 0.90 | 0.99 | 0.93 | 0.94 | 0.93 | 0.96 |
| FCF margin | +19.78% | +11.71% | +21.11% | +20.48% | +24.48% | +21.95% | +21.76% | +21.65% | +22.00% |
| OCF margin | +23.50% | +16.13% | +24.76% | +23.84% | +27.37% | +25.89% | +25.54% | +24.83% | +25.68% |
| CapEx / Revenue | +3.72% | +4.42% | +3.65% | +3.36% | +2.90% | +3.23% | +3.34% | +3.23% | +3.34% |
| CapEx / D&A | 1.14 | 1.33 | 1.16 | 1.01 | 0.86 | — | — | — | — |
| Stock-based comp / Revenue | +1.17% | +1.48% | +1.63% | +1.55% | 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 | 8.60 | 8.03 | 10.06 | 10.67 | 13.08 | 14.66 | 16.57 | 18.76 | 21.55 |
| EPS · basic | 8.74 | 8.12 | 10.17 | 10.77 | 13.17 | 14.96 | 16.89 | 19.04 | 21.45 |
| Book value / share | 7.97 | 7.20 | 17.68 | 19.16 | 19.90 | 22.97 | 24.70 | 26.96 | 29.45 |
| Tangible BV / share | 2.68 | 1.76 | 12.31 | 12.96 | 13.41 | 22.97 | 24.70 | 26.96 | 29.45 |
| Sales / share | 37.14 | 39.80 | 43.59 | 46.82 | 53.35 | 58.58 | 63.40 | 69.44 | 75.43 |
| Operating CF / share | 8.73 | 6.42 | 10.79 | 11.16 | 14.60 | 15.16 | 16.19 | 17.24 | 19.37 |
| Free cash flow / share | 7.35 | 4.66 | 9.20 | 9.59 | 13.06 | 12.86 | 13.80 | 15.03 | 16.59 |
| 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 | — | +4.73% | +8.72% | +6.46% | +10.42% | +9.43% | +8.75% | +9.11% | +9.86% | +8.42% |
| Gross profit · YoY | — | +6.08% | +9.26% | +8.63% | +11.80% | +10.76% | +4.26% | +10.01% | +11.58% | +9.02% |
| Profit | ||||||||||
| Operating income · YoY | — | -3.57% | +22.07% | +2.84% | +20.53% | +1.55% | +11.93% | +7.75% | +14.51% | +9.37% |
| EBITDA · YoY | — | -2.44% | +20.02% | +4.78% | +15.13% | +6.03% | +9.76% | +6.32% | +14.94% | +9.11% |
| Net income · YoY | — | -8.83% | +24.44% | +5.07% | +19.33% | +4.36% | +7.33% | +9.71% | +8.17% | +8.29% |
| Operating | ||||||||||
| EBIT · YoY | — | -3.50% | +22.55% | +3.47% | +19.40% | +5.99% | +5.20% | +8.35% | +11.06% | +8.78% |
| R&D · YoY | — | +58.26% | -25.06% | +15.10% | +14.29% | +2.72% | +12.79% | +5.03% | +13.02% | +10.01% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -6.63% | +25.28% | +6.06% | +22.59% | +12.06% | +13.02% | +13.23% | +14.88% | +12.17% |
| EPS · basic · YoY | — | -7.09% | +25.25% | +5.90% | +22.28% | +13.62% | +12.87% | +12.74% | +12.65% | +11.88% |
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 | $1.03B | $1.47B | $1.07B | $986.95M | $1.08B | $1.25B | $1.37B | $1.46B | $1.67B |
| Net debt | $886.56M | $1.36B | $613.42M | $698.68M | $897.14M | $885M | $959.46M | $1.01B | $1.18B |
| Net debt / EBITDA | 0.85 | 1.34 | 0.50 | 0.55 | 0.61 | 0.57 | 0.56 | 0.55 | 0.56 |
| Debt / equity | 1.49 | 2.41 | 0.72 | 0.62 | 0.67 | 0.68 | 0.69 | 0.67 | 0.70 |
| Debt / assets | +42.30% | +53.52% | +32.74% | +29.97% | +32.15% | +32.03% | +31.21% | +30.42% | +33.03% |
| Equity / assets | +28.31% | +22.16% | +45.54% | +48.44% | +47.91% | +47.27% | +45.52% | +45.10% | +47.31% |
| Coverage | |||||||||
| EBITDA / interest expense | 34.89 | 25.45 | 29.28 | 40.89 | 38.39 | 34.46 | 36.45 | 34.30 | 36.42 |
| Operating income / interest | 31.27 | 22.55 | 26.39 | 36.16 | 35.54 | 30.55 | 32.96 | 31.43 | 33.25 |
| Interest expense | $29.81M | $39.86M | $41.58M | $31.21M | $38.27M | $45.2M | $46.9M | $52.99M | $57.37M |
| Liquidity | |||||||||
| Current ratio | 1.25 | 0.89 | 1.57 | 1.31 | 1.17 | — | — | — | — |
| Quick ratio | 0.75 | 0.49 | 1.03 | 0.80 | 0.76 | — | — | — | — |
| Cash ratio | 0.19 | 0.09 | 0.48 | 0.27 | 0.16 | — | — | — | — |
| Working capital | $192.08M | -$134.33M | $543.71M | $331.98M | $191.45M | — | — | — | — |
| Working capital / revenue | +5.97% | -3.99% | +14.85% | +8.52% | +4.45% | — | — | — | — |
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).