Explain this page
Arphra AIPlain-English read on Moody's Corporation’s valuationRatios & 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.
Quality composite
A+Top tier
A snapshot of the latest fiscal year’s margins, returns on capital, balance-sheet strength and efficiency, computed from the income statement, balance sheet and cash-flow rows. Source income / balance / cash_flow.
Profitability
Gross margin68.2%
Operating margin44.8%
Net margin31.9%
ROE58.5%
ROA15.5%
ROIC29.6%
Liquidity & leverage
Current ratio1.74×
Quick ratio1.74×
Debt / equity1.75×
Net debt / EBITDA1.26×
Interest coverage18×
Efficiency & per-share
Asset turnover0.49×
Inventory days0
Days sales out.96
FCF / share$14.31
Book value / share$23.37
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 | — | — | — | $86.06B | $91.49B | — | — | — | — |
| Enterprise value | — | — | — | $91.4B | $96.46B | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | 12.89 | 12.50 | — | — | — | — |
| EV / FCF | — | — | — | 36.25 | 37.46 | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | +2.39% | +2.69% | — | — | — | — |
| Free cash flow yield | — | — | — | +2.93% | +2.81% | — | — | — | — |
| 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 | +69.54% | +64.45% | +65.15% | +66.41% | +68.15% | +64.61% | +68.34% | +66.15% | +68.15% |
| Operating margin | +45.74% | +36.52% | +37.54% | +41.92% | +44.77% | +40.50% | +41.22% | +41.81% | +40.29% |
| EBITDA margin | +52.35% | +42.19% | +42.51% | +47.04% | +50.98% | +47.27% | +47.71% | +48.23% | +47.90% |
| EBIT margin | +48.21% | +36.14% | +36.21% | +40.96% | +44.77% | +40.40% | +41.58% | +40.38% | +40.36% |
| Pre-tax margin | +44.31% | +32.19% | +32.71% | +38.08% | +40.55% | +37.99% | +37.25% | +36.92% | +36.92% |
| Net margin | +35.61% | +25.13% | +27.16% | +29.03% | +31.86% | +29.23% | +29.97% | +29.13% | +29.89% |
| Cost structure | |||||||||
| Cost of revenue / sales | +30.46% | +35.55% | +34.85% | +33.59% | +31.85% | +32.68% | +33.66% | +32.86% | +32.48% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +23.80% | +27.93% | +27.60% | +24.49% | +23.36% | +25.22% | +24.66% | +25.14% | +24.92% |
| Effective tax rate | +19.64% | +21.93% | +16.90% | +23.71% | +21.34% | +19.97% | +21.02% | +21.00% | +20.63% |
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) | +75.93% | +51.10% | +46.23% | +55.22% | +58.48% | +51.48% | +55.41% | +53.50% | +55.45% |
| Return on assets (ROA) | +15.08% | +9.58% | +10.99% | +13.27% | +15.53% | +13.22% | +13.57% | +13.25% | +13.47% |
| Return on capital (ROC) | +26.12% | +18.93% | +20.39% | +25.90% | +29.90% | +24.03% | +24.78% | +25.42% | +24.53% |
| Return on invested capital (ROIC) | +20.33% | +13.02% | +14.76% | +17.94% | +21.28% | +17.34% | +18.01% | +17.71% | +18.19% |
| Asset turnover | +42.36% | +38.11% | +40.46% | +45.71% | +48.76% | +45.24% | +45.28% | +45.51% | +45.06% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +35.61% | +25.13% | +27.16% | +29.03% | +31.86% | +29.23% | +29.97% | +29.13% | +29.89% |
| Asset turnover (× revenue / assets) | +42.36% | +38.11% | +40.46% | +45.71% | +48.76% | +45.24% | +45.28% | +45.51% | +45.06% |
| Equity multiplier (× assets / equity) | +503.43% | +533.62% | +420.66% | +416.02% | +376.46% | +389.38% | +408.30% | +403.62% | +411.75% |
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 | 0.42 | 0.38 | 0.40 | 0.46 | 0.49 | 0.45 | 0.45 | 0.46 | 0.45 |
| Fixed-asset turnover | 7.92 | 6.45 | 6.72 | 8.13 | 7.69 | — | — | — | — |
| Inventory turnover | — | — | — | — | — | — | — | — | — |
| Receivables turnover | 3.62 | 3.31 | 3.40 | 3.77 | 3.81 | — | — | — | — |
| Payables turnover | 40.30 | 37.38 | 89.65 | 44.92 | — | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 100.96 | 110.27 | 107.23 | 96.71 | 95.72 | — | — | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | 9.06 | 9.76 | 4.07 | 8.12 | — | — | — | — | — |
| Cash conversion cycle | 91.91 | 100.51 | 103.16 | 88.58 | 95.72 | — | — | — | — |
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 | 0.91 | 1.07 | 1.34 | 1.38 | 1.18 | 1.31 | 1.27 | 1.34 | 1.23 |
| FCF / Net income | 0.84 | 0.87 | 1.17 | 1.22 | 1.05 | 1.14 | 1.12 | 1.13 | 1.11 |
| FCF margin | +30.01% | +21.78% | +31.78% | +35.57% | +33.36% | +33.34% | +33.45% | +32.78% | +33.11% |
| OCF margin | +32.25% | +26.96% | +36.36% | +40.04% | +37.59% | +38.35% | +37.96% | +39.04% | +36.91% |
| CapEx / Revenue | +2.24% | +5.18% | +4.58% | +4.47% | +4.22% | +4.33% | +4.40% | +4.38% | +4.50% |
| CapEx / D&A | 0.54 | 0.85 | 0.73 | 0.74 | 0.68 | — | — | — | — |
| Stock-based comp / Revenue | 0.00% | 0.00% | 0.00% | 0.00% | +3.01% | — | — | — | — |
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 | 11.78 | 7.44 | 8.73 | 11.26 | 13.67 | 16.71 | 18.65 | 20.68 | 22.62 |
| EPS · basic | 11.88 | 7.47 | 8.77 | 11.32 | 13.73 | 16.96 | 18.98 | 20.50 | 22.59 |
| Book value / share | 15.52 | 14.56 | 18.89 | 20.40 | 23.37 | 25.80 | 26.89 | 29.13 | 30.11 |
| Tangible BV / share | -29.54 | -29.02 | -24.61 | -22.75 | -22.40 | 25.80 | 26.89 | 29.13 | 30.11 |
| Sales / share | 33.09 | 29.60 | 32.15 | 38.80 | 42.90 | 45.45 | 49.72 | 53.50 | 55.87 |
| Operating CF / share | 10.67 | 7.98 | 11.69 | 15.53 | 16.13 | 17.43 | 18.87 | 20.88 | 20.62 |
| Free cash flow / share | 9.93 | 6.45 | 10.22 | 13.80 | 14.31 | 15.15 | 16.63 | 17.53 | 18.50 |
| Dividends / share | 2.46 | 2.79 | 3.07 | 3.39 | 3.90 | 4.20 | 4.44 | 4.80 | 5.24 |
| Payout ratio | +20.91% | +37.48% | +35.10% | +30.13% | +28.51% | +31.59% | +29.83% | +30.78% | +31.41% |
| Retention ratio | +79.09% | +62.52% | +64.90% | +69.87% | +71.49% | +68.41% | +70.17% | +69.22% | +68.59% |
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 | — | -12.06% | +8.19% | +19.81% | +8.89% | +6.75% | +7.55% | +7.65% | +4.68% | +6.10% |
| Gross profit · YoY | — | -18.50% | +9.36% | +22.13% | +11.75% | +1.21% | +13.75% | +4.21% | +7.85% | +5.83% |
| Profit | ||||||||||
| Operating income · YoY | — | -29.78% | +11.22% | +33.77% | +16.29% | -3.41% | +9.45% | +9.18% | +0.88% | +4.43% |
| EBITDA · YoY | — | -29.12% | +9.02% | +32.56% | +18.03% | -1.02% | +8.55% | +8.82% | +3.96% | +4.93% |
| Net income · YoY | — | -37.94% | +16.96% | +28.06% | +19.48% | -2.07% | +10.28% | +4.63% | +7.41% | +3.80% |
| Operating | ||||||||||
| EBIT · YoY | — | -34.09% | +8.40% | +35.53% | +19.01% | -3.66% | +10.68% | +4.56% | +4.61% | +3.77% |
| R&D · YoY | — | — | — | — | — | — | — | — | — | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -36.84% | +17.34% | +28.98% | +21.40% | +22.21% | +11.62% | +10.91% | +9.36% | +8.50% |
| EPS · basic · YoY | — | -37.12% | +17.40% | +29.08% | +21.29% | +23.52% | +11.93% | +8.00% | +10.17% | +8.36% |
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 | $7.97B | $7.86B | $7.42B | $7.75B | $7.35B | $9.21B | $9.95B | $10.49B | $11.02B |
| Net debt | $6.16B | $6.09B | $5.29B | $5.34B | $4.97B | $6.45B | $7.01B | $7.28B | $7.67B |
| Net debt / EBITDA | 1.89 | 2.64 | 2.10 | 1.60 | 1.26 | 1.66 | 1.66 | 1.58 | 1.60 |
| Debt / equity | 2.73 | 2.92 | 2.13 | 2.08 | 1.75 | 1.97 | 2.08 | 2.02 | 2.05 |
| Debt / assets | +54.31% | +54.80% | +50.71% | +49.96% | +46.44% | +50.57% | +50.85% | +50.06% | +49.74% |
| Equity / assets | +19.86% | +18.74% | +23.77% | +24.04% | +26.56% | +25.68% | +24.49% | +24.78% | +24.29% |
| Coverage | |||||||||
| EBITDA / interest expense | 13.40 | 10.68 | 12.15 | 16.34 | 20.82 | 16.54 | 16.53 | 16.54 | 16.72 |
| Operating income / interest | 11.70 | 9.25 | 10.73 | 14.56 | 18.28 | 14.17 | 14.28 | 14.34 | 14.06 |
| Interest expense | $243M | $216M | $207M | $204M | $189M | $235.51M | $255.73M | $278.11M | $286.12M |
| Liquidity | |||||||||
| Current ratio | 1.61 | 1.72 | 1.69 | 1.43 | 1.74 | — | — | — | — |
| Quick ratio | 1.45 | 1.48 | 1.57 | 1.35 | 1.50 | — | — | — | — |
| Cash ratio | 0.73 | 0.74 | 0.85 | 0.67 | 0.80 | — | — | — | — |
| Working capital | $1.52B | $1.72B | $1.73B | $1.56B | $2.21B | — | — | — | — |
| Working capital / revenue | +24.36% | +31.44% | +29.16% | +22.04% | +28.57% | — | — | — | — |
Sourced from key_metrics + financial_ratios (loaded by load_fundamentals_extended.py).
Valuation
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| P / E | — | — |
| P / B | — | — |
| EV / EBITDA | — | — |
| EV / Sales | 12.50x | 12.89x |
| Earnings yield | 2.7% | 2.4% |
| FCF yield | 2.8% | 2.9% |
Returns
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | — | — |
| ROE | 60.7% | 57.7% |
| ROA | 15.5% | 13.3% |
| ROIC | 21.0% | 17.8% |
Leverage & liquidity
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Debt / equity | — | — |
| Net debt / EBITDA | 1.26 | 1.60 |
| Interest coverage | — | — |
| Current ratio | 1.74x | 1.43x |
| Quick ratio | — | — |
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).