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 | +80.71% | +82.15% | +82.83% | +83.08% | +82.96% | +82.81% | +81.05% | +85.24% | +80.82% |
| Operating margin | +7.16% | +21.45% | +15.31% | +23.00% | +20.78% | +19.93% | +19.53% | +19.84% | +19.32% |
| EBITDA margin | +4.61% | +23.48% | +15.75% | +23.58% | +20.78% | +19.81% | +19.69% | +20.51% | +20.40% |
| EBIT margin | +2.30% | +22.51% | +15.31% | +23.00% | +20.78% | +19.74% | +19.93% | +20.19% | +19.34% |
| Pre-tax margin | -5.01% | +23.68% | +21.20% | +30.00% | +25.63% | +25.68% | +26.26% | +25.54% | +25.04% |
| Net margin | -5.87% | +22.54% | +48.32% | +23.85% | +20.51% | +20.19% | +20.19% | +20.21% | +20.14% |
| Cost structure | |||||||||
| Cost of revenue / sales | +19.29% | +17.85% | +17.17% | +16.92% | +17.04% | +17.23% | +16.97% | +17.36% | +17.50% |
| R&D intensity | +23.78% | +17.88% | +17.36% | +18.52% | +19.23% | +17.89% | +18.44% | +18.27% | +18.50% |
| SG&A intensity | +33.74% | +29.36% | +38.20% | +30.02% | +32.11% | +32.82% | +34.32% | +34.08% | +32.67% |
| Effective tax rate | — | +4.83% | -127.97% | +20.50% | +19.96% | +20.75% | +19.19% | +20.22% | +20.27% |
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) | -7.37% | +34.05% | +58.69% | +31.48% | +30.63% | +27.03% | +26.96% | +26.94% | +26.48% |
| Return on assets (ROA) | -2.57% | +11.80% | +23.21% | +12.63% | +11.31% | +10.19% | +10.52% | +10.49% | +10.51% |
| Return on capital (ROC) | +5.96% | +22.81% | +14.50% | +23.85% | +24.78% | +21.04% | +20.57% | +20.70% | +20.09% |
| Return on invested capital (ROIC) | +4.47% | +23.96% | +45.77% | +24.73% | +24.46% | +21.32% | +21.27% | +21.09% | +20.94% |
| Asset turnover | +43.71% | +52.37% | +48.04% | +52.97% | +55.12% | +50.48% | +52.08% | +51.90% | +52.17% |
| DuPont · ROE decomposition | |||||||||
| Net margin | -5.87% | +22.54% | +48.32% | +23.85% | +20.51% | +20.19% | +20.19% | +20.21% | +20.14% |
| Asset turnover (× revenue / assets) | +43.71% | +52.37% | +48.04% | +52.97% | +55.12% | +50.48% | +52.08% | +51.90% | +52.17% |
| Equity multiplier (× assets / equity) | +287.08% | +288.45% | +252.85% | +249.16% | +270.86% | +265.20% | +256.37% | +256.81% | +252.04% |
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 | 0.44 | 0.52 | 0.48 | 0.53 | 0.55 | 0.50 | 0.52 | 0.52 | 0.52 |
| Fixed-asset turnover | 13.97 | 32.43 | 35.54 | 38.15 | 47.63 | — | — | — | — |
| Inventory turnover | — | — | — | — | — | — | — | — | — |
| Receivables turnover | 1.61 | 1.69 | 1.63 | 1.83 | 1.71 | — | — | — | — |
| Payables turnover | 9.80 | 10.94 | 12.08 | 13.23 | 8.99 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 226.30 | 216.55 | 223.56 | 199.83 | 213.05 | — | — | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | 37.26 | 33.36 | 30.22 | 27.60 | 40.59 | — | — | — | — |
| Cash conversion cycle | 189.04 | 183.19 | 193.34 | 172.23 | 172.45 | — | — | — | — |
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 | -6.57 | 1.81 | 0.81 | 1.71 | 1.85 | 1.92 | 1.93 | 1.91 | 1.92 |
| FCF / Net income | -6.57 | 1.80 | 0.81 | 1.71 | 1.85 | 1.89 | 1.91 | 1.97 | 1.96 |
| FCF margin | +38.60% | +40.54% | +39.17% | +40.70% | +37.95% | +38.17% | +38.58% | +39.87% | +39.42% |
| OCF margin | +38.60% | +40.84% | +39.17% | +40.70% | +37.95% | +38.80% | +38.92% | +38.52% | +38.59% |
| CapEx / Revenue | 0.00% | +0.30% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| CapEx / D&A | 0.00 | 0.28 | 0.00 | 0.00 | — | — | — | — | — |
| Stock-based comp / Revenue | 0.00% | +11.07% | +11.29% | +12.67% | +13.01% | — | — | — | — |
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 | -0.57 | 2.79 | 7.24 | 4.11 | 4.03 | 5.13 | 6.05 | 7.16 | 8.87 |
| EPS · basic | -0.57 | 2.97 | 7.52 | 4.19 | 4.10 | 5.31 | 6.25 | 7.34 | 8.99 |
| Book value / share | 7.75 | 8.18 | 12.33 | 13.04 | 13.16 | 16.72 | 18.40 | 20.68 | 22.78 |
| Tangible BV / share | 6.61 | 7.17 | 11.14 | 11.84 | 11.92 | 16.72 | 18.40 | 20.68 | 22.78 |
| Sales / share | 9.73 | 12.35 | 14.98 | 17.21 | 19.65 | 22.38 | 24.57 | 27.56 | 29.96 |
| Operating CF / share | 3.75 | 5.04 | 5.87 | 7.00 | 7.46 | 8.69 | 9.56 | 10.62 | 11.56 |
| Free cash flow / share | 3.75 | 5.01 | 5.87 | 7.00 | 7.46 | 8.55 | 9.48 | 10.99 | 11.81 |
| 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 | — | +40.17% | +18.07% | +11.95% | +10.26% | +14.00% | +10.59% | +10.79% | +10.12% | +15.39% |
| Gross profit · YoY | — | +42.68% | +19.04% | +12.30% | +10.09% | +13.80% | +8.24% | +16.52% | +4.40% | +15.41% |
| Profit | ||||||||||
| Operating income · YoY | — | +320.05% | -15.76% | +68.18% | -0.35% | +9.33% | +8.35% | +12.56% | +7.21% | +30.63% |
| EBITDA · YoY | — | +614.49% | -20.79% | +67.61% | -2.83% | +8.64% | +9.94% | +15.41% | +9.54% | +38.98% |
| Net income · YoY | — | +637.78% | +153.14% | -44.74% | -5.17% | +12.23% | +10.57% | +10.89% | +9.72% | — |
| Operating | ||||||||||
| EBIT · YoY | — | +1270.29% | -19.73% | +68.18% | -0.35% | +8.25% | +11.70% | +12.20% | +5.51% | +50.55% |
| R&D · YoY | — | +5.40% | +14.65% | +19.40% | +14.49% | +6.04% | +13.98% | +9.80% | +11.52% | +11.82% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | +589.47% | +159.50% | -43.23% | -1.95% | +27.24% | +18.07% | +18.24% | +23.91% | — |
| EPS · basic · YoY | — | +621.05% | +153.20% | -44.28% | -2.15% | +29.52% | +17.77% | +17.36% | +22.45% | — |
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 | $2.42B | $2.34B | $2.3B | $2.29B | $2.07B | $2.79B | $3.09B | $3.56B | $3.79B |
| Net debt | -$3.65B | -$5.04B | -$4.57B | -$4.57B | -$4.49B | -$6.04B | -$6.47B | -$6.72B | -$8.01B |
| Net debt / EBITDA | -13.22 | -2.55 | -2.93 | -1.75 | -1.77 | -2.19 | -2.13 | -1.92 | -2.09 |
| Debt / equity | 0.51 | 0.42 | 0.28 | 0.27 | 0.25 | 0.27 | 0.27 | 0.28 | 0.26 |
| Debt / assets | +17.64% | +14.60% | +11.16% | +10.95% | +9.31% | +10.10% | +10.44% | +10.81% | +10.49% |
| Equity / assets | +34.83% | +34.67% | +39.55% | +40.14% | +36.92% | +37.71% | +39.01% | +38.94% | +39.68% |
| Coverage | |||||||||
| EBITDA / interest expense | 0.63 | 82.17 | 18.82 | — | — | 70.13 | 70.37 | 74.64 | 72.25 |
| Operating income / interest | 0.98 | 75.08 | 18.29 | — | — | 70.58 | 69.79 | 72.21 | 68.41 |
| Interest expense | $438M | $24M | $83M | $0 | $0 | $39.41M | $43.18M | $46.98M | $53.17M |
| Liquidity | |||||||||
| Current ratio | 1.95 | 1.86 | 1.66 | 1.69 | 1.38 | — | — | — | — |
| Quick ratio | 1.89 | 1.83 | 1.62 | 1.64 | 1.33 | — | — | — | — |
| Cash ratio | 0.95 | 0.92 | 0.69 | 0.68 | 0.48 | — | — | — | — |
| Working capital | $6.03B | $6.88B | $6.56B | $7.02B | $5.15B | — | — | — | — |
| Working capital / revenue | +100.58% | +81.95% | +66.14% | +63.22% | +42.06% | — | — | — | — |
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).