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 | +38.01% | +31.26% | +27.67% | +27.86% | +26.75% | +27.57% | +27.08% | +26.71% | +26.83% |
| Operating margin | +23.21% | +12.11% | +5.97% | +8.35% | +10.87% | +8.45% | +8.61% | +8.53% | +8.62% |
| EBITDA margin | +27.99% | +16.47% | +11.10% | +13.92% | +14.43% | +13.12% | +13.34% | +12.86% | +12.79% |
| EBIT margin | +23.59% | +11.95% | +6.32% | +8.98% | +9.54% | +8.46% | +8.40% | +8.08% | +8.26% |
| Pre-tax margin | +21.98% | +10.43% | +4.68% | +7.38% | +7.94% | +6.64% | +6.83% | +6.53% | +6.61% |
| Net margin | +18.10% | +10.78% | +3.44% | +5.73% | +6.28% | +5.19% | +5.28% | +5.16% | +5.07% |
| Cost structure | |||||||||
| Cost of revenue / sales | +61.99% | +68.74% | +72.33% | +72.14% | +73.25% | +72.57% | +72.36% | +71.84% | +72.66% |
| R&D intensity | 0.00% | 0.00% | +0.02% | 0.00% | 0.00% | +0.01% | +0.01% | +0.01% | +0.01% |
| SG&A intensity | +12.87% | +16.83% | +16.62% | +17.14% | +15.89% | +16.16% | +16.85% | +16.14% | +17.00% |
| Effective tax rate | +23.90% | +18.90% | +33.13% | +22.14% | +20.75% | +25.75% | +24.79% | +26.29% | +26.10% |
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) | +23.09% | +12.64% | +5.30% | +9.25% | +10.15% | +8.24% | +8.25% | +8.44% | +7.85% |
| Return on assets (ROA) | +11.66% | +6.35% | +2.50% | +4.06% | +4.77% | +3.78% | +3.91% | +3.84% | +3.65% |
| Return on capital (ROC) | +18.32% | +8.78% | +5.24% | +7.08% | +9.57% | +7.35% | +7.40% | +7.43% | +7.41% |
| Return on invested capital (ROIC) | +14.29% | +7.82% | +3.02% | +4.86% | +5.53% | +4.51% | +4.54% | +4.49% | +4.36% |
| Asset turnover | +64.44% | +58.86% | +72.71% | +70.78% | +75.85% | +72.88% | +74.05% | +74.40% | +71.97% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +18.10% | +10.78% | +3.44% | +5.73% | +6.28% | +5.19% | +5.28% | +5.16% | +5.07% |
| Asset turnover (× revenue / assets) | +64.44% | +58.86% | +72.71% | +70.78% | +75.85% | +72.88% | +74.05% | +74.40% | +71.97% |
| Equity multiplier (× assets / equity) | +198.03% | +199.25% | +211.97% | +227.84% | +212.96% | +218.06% | +210.92% | +219.78% | +215.28% |
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 | 0.64 | 0.59 | 0.73 | 0.71 | 0.76 | 0.73 | 0.74 | 0.74 | 0.72 |
| Fixed-asset turnover | 4.67 | 4.25 | 4.18 | 4.27 | 4.53 | — | — | — | — |
| Inventory turnover | 20.29 | 17.33 | 18.53 | 19.03 | 19.11 | — | — | — | — |
| Receivables turnover | 4.41 | 5.94 | 5.79 | 6.20 | 6.17 | — | — | — | — |
| Payables turnover | 13.11 | 9.57 | 10.63 | 10.72 | 12.15 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 82.76 | 61.45 | 62.99 | 58.84 | 59.14 | — | — | — | — |
| Days inventory outstanding (DIO) | 17.99 | 21.06 | 19.69 | 19.18 | 19.10 | — | — | — | — |
| Days payables outstanding (DPO) | 27.85 | 38.14 | 34.34 | 34.06 | 30.03 | — | — | — | — |
| Cash conversion cycle | 72.90 | 44.37 | 48.34 | 43.96 | 48.21 | — | — | — | — |
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 | 1.31 | 1.53 | 3.18 | 2.13 | 1.87 | 2.23 | 2.15 | 2.30 | 2.32 |
| FCF / Net income | 1.11 | 1.15 | 2.09 | 1.47 | 1.38 | 1.56 | 1.55 | 1.57 | 1.64 |
| FCF margin | +20.17% | +12.42% | +7.19% | +8.42% | +8.64% | +8.10% | +8.21% | +8.12% | +8.31% |
| OCF margin | +23.67% | +16.49% | +10.92% | +12.19% | +11.76% | +11.56% | +11.35% | +11.88% | +11.73% |
| CapEx / Revenue | +3.50% | +4.06% | +3.73% | +3.77% | +3.11% | +3.59% | +3.53% | +3.54% | +3.47% |
| CapEx / D&A | 0.80 | 0.90 | 0.79 | 0.76 | 0.64 | — | — | — | — |
| Stock-based comp / Revenue | +1.01% | +0.98% | +1.06% | +0.90% | +0.90% | — | — | — | — |
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 | 24.38 | 13.96 | 4.77 | 8.84 | 10.46 | 18.01 | 19.50 | 21.19 | 23.58 |
| EPS · basic | 24.58 | 14.04 | 4.80 | 8.89 | 10.54 | 18.25 | 19.36 | 21.26 | 23.43 |
| Book value / share | 105.58 | 110.43 | 90.07 | 95.57 | 103.06 | 109.75 | 117.08 | 117.44 | 132.06 |
| Tangible BV / share | -14.36 | 9.49 | -18.20 | -21.23 | -20.87 | 109.75 | 117.08 | 117.44 | 132.06 |
| Sales / share | 134.73 | 129.52 | 138.83 | 154.13 | 166.49 | 174.42 | 182.85 | 192.03 | 204.60 |
| Operating CF / share | 31.89 | 21.35 | 15.16 | 18.79 | 19.58 | 20.17 | 20.76 | 22.81 | 24.01 |
| Free cash flow / share | 27.17 | 16.09 | 9.98 | 12.98 | 14.39 | 14.13 | 15.02 | 15.60 | 17.01 |
| Dividends / share | 0.00 | 2.13 | 2.90 | 2.88 | 2.87 | 3.30 | 3.45 | 3.72 | 3.85 |
| Payout ratio | 0.00% | +15.26% | +60.77% | +32.59% | +27.46% | +36.49% | +35.74% | +37.50% | +37.12% |
| Retention ratio | +100.00% | +84.74% | +39.23% | +67.41% | +72.54% | +63.51% | +64.26% | +62.50% | +62.88% |
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 | — | -9.68% | +2.51% | +6.97% | +7.25% | +5.30% | +4.82% | +4.62% | +6.34% | +3.38% |
| Gross profit · YoY | — | -25.71% | -9.27% | +7.71% | +2.98% | +8.54% | +2.93% | +3.19% | +6.83% | -1.03% |
| Profit | ||||||||||
| Operating income · YoY | — | -52.88% | -49.49% | +49.77% | +39.52% | -18.09% | +6.70% | +3.73% | +7.49% | -8.66% |
| EBITDA · YoY | — | -46.84% | -30.96% | +34.23% | +11.12% | -4.25% | +6.60% | +0.87% | +5.74% | -6.26% |
| Net income · YoY | — | -46.20% | -67.32% | +78.47% | +17.49% | -13.08% | +6.79% | +2.18% | +4.44% | -11.83% |
| Operating | ||||||||||
| EBIT · YoY | — | -54.28% | -45.77% | +51.96% | +14.03% | -6.69% | +4.08% | +0.60% | +8.79% | -9.33% |
| R&D · YoY | — | — | — | -100.00% | — | — | +7.30% | +1.74% | +6.90% | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -42.74% | -65.83% | +85.32% | +18.33% | +72.22% | +8.23% | +8.71% | +11.23% | -0.42% |
| EPS · basic · YoY | — | -42.88% | -65.81% | +85.21% | +18.56% | +73.16% | +6.05% | +9.86% | +10.17% | -0.60% |
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 | $6.34B | $6.25B | $5.95B | $7.27B | $7.2B | $7.65B | $8.05B | $8.65B | $8.88B |
| Net debt | $4.87B | $5.93B | $5.42B | $5.75B | $6.67B | $6.66B | $7.05B | $7.59B | $7.71B |
| Net debt / EBITDA | 1.32 | 3.03 | 4.01 | 3.18 | 3.31 | 3.45 | 3.43 | 3.66 | 3.52 |
| Debt / equity | 0.62 | 0.62 | 0.75 | 0.90 | 0.83 | 0.83 | 0.82 | 0.88 | 0.80 |
| Debt / assets | +31.11% | +30.99% | +35.60% | +39.57% | +39.17% | +37.97% | +38.70% | +39.92% | +37.29% |
| Equity / assets | +50.50% | +50.19% | +47.18% | +43.89% | +46.96% | +45.86% | +47.41% | +45.50% | +46.45% |
| Coverage | |||||||||
| EBITDA / interest expense | 17.36 | 10.87 | 6.76 | 8.70 | 8.98 | 7.91 | 8.39 | 7.73 | 7.70 |
| Operating income / interest | 14.39 | 7.99 | 3.64 | 5.22 | 6.77 | 5.10 | 5.41 | 5.13 | 5.19 |
| Interest expense | $211.8M | $179.8M | $199.6M | $208.3M | $224.1M | $243.54M | $244.91M | $268.03M | $284.68M |
| Liquidity | |||||||||
| Current ratio | 1.92 | 1.50 | 1.17 | 1.44 | 1.42 | — | — | — | — |
| Quick ratio | 1.60 | 0.75 | 0.82 | 1.09 | 0.99 | — | — | — | — |
| Cash ratio | 0.53 | 0.10 | 0.17 | 0.46 | 0.19 | — | — | — | — |
| Working capital | $2.55B | $1.55B | $540.2M | $1.48B | $1.2B | — | — | — | — |
| Working capital / revenue | +19.39% | +13.04% | +4.44% | +11.35% | +8.58% | — | — | — | — |
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).