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Materials·ESI

Element Solutions Inc

NYSE · US

Specialty chemical supplier for electronics, plating, and advanced packaging processes.

AI relevance

Plating and process chemistries support package substrates and semiconductor interconnect.

Materials Chemicals

Price

$35.83

Change

+0.28 (+0.80%)

Market cap

$8.7B

52w range

$23–$49

Exchange

NYSE

Country

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Price chart

ESI market performance

Daily close for Element Solutions Inc

Latest close: $35.86
Range move: +$10.87 (+43.5%)
Range high: $49.09
Range low: $22.99
Latest volume: 1.2M
Source: FMP EOD

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Exports

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CSV

Income statement

12 annual rows

Revenue, gross profit, R&D, operating income, EBITDA, net income, and EPS.

Annual

Balance sheet

12 annual rows

Cash, receivables, inventory, PP&E, assets, debt, liabilities, and equity.

Annual

Cash flow

12 annual rows

Operating cash flow, capital expenditures, and free cash flow.

Annual

Key metrics

12 annual rows

Enterprise value, valuation multiples, returns, yields, and cash conversion.

Annual

Ratios

12 annual rows

Margins, liquidity ratios, valuation ratios, leverage, and per-share metrics.

Annual

Chart data

1255 rows

Five years of daily close and volume data powering the company chart.

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Transcript list

65 rows

Available earnings-call transcript dates by fiscal year and quarter.

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StreetBuy

Analyst expectations

Consensus target

$46.86

+30.8%

Target range

$37.00 - $52.00

Rating mix

Buy

35 ratings

Next FY revenue

$3.68B

2026-12-31

Next FY EPS

$1.81

$1.79 - $1.82

Rating consensus35 ratings

Strong buy

Buy

Hold

Sell

Strong sell

Annual estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-12-31	$3.68B	$3.62B - $3.74B	$1.81	$1.79 - $1.82	$640.4M	$400.3M	$438.6M	$921.2M	6 rev / 5 EPS
2027-12-31	$3.96B	$3.88B - $4.05B	$2.08	$2.02 - $2.18	$689.6M	$431.0M	$511.1M	$992.0M	6 rev / 5 EPS
2028-12-31	$4.22B	$4.13B - $4.30B	$2.36	$2.30 - $2.43	$734.0M	$458.8M	$580.6M	$1.06B	3 rev / 2 EPS

Quarterly estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-09-30	$959.0M	$932.5M - $985.6M	$0.47	$0.46 - $0.49	$167.0M	$104.4M	$115.2M	$240.2M	5 rev / 5 EPS
2026-12-30	$949.1M	$913.9M - $984.3M	$0.46	$0.45 - $0.47	$165.2M	$103.3M	$111.4M	$237.7M	5 rev / 5 EPS
2027-03-30	$934.2M	$901.0M - $966.0M	$0.47	$0.45 - $0.49	$162.6M	$101.7M	$114.5M	$234.0M	4 rev / 3 EPS
2027-06-30	$1.03B	$989.6M - $1.06B	$0.53	$0.51 - $0.55	$178.6M	$111.7M	$129.4M	$257.0M	4 rev / 3 EPS
2027-09-30	$1.03B	$992.0M - $1.06B	$0.55	$0.52 - $0.57	$179.1M	$111.9M	$133.9M	$257.6M	4 rev / 3 EPS
2027-12-30	$1.01B	$978.7M - $1.05B	$0.53	$0.51 - $0.56	$176.7M	$110.4M	$129.7M	$254.2M	4 rev / 3 EPS
2028-03-30	$993.1M	$957.8M - $1.03B	$0.51	$0.48 - $0.53	$172.9M	$108.1M	$123.3M	$248.7M	3 rev / 4 EPS
2028-06-30	$1.11B	$1.07B - $1.14B	$0.58	$0.55 - $0.60	$192.5M	$120.3M	$140.8M	$276.9M	3 rev / 4 EPS

Price target history

Window	Targets	Average target
Last month	1	$47.00
Last quarter	5	$48.80
Last year	23	$40.17
All time	37	$37.08

Sources: TheFly, StreetInsider, Benzinga, Pulse 2.0

Latest grade actions

Date	Firm	Action	Previous	New
2026-07-15	Mizuho	Downgrade	Outperform	Neutral
2026-07-09	Truist Securities	Maintain	Buy	Buy
2026-07-06	BMO Capital	Maintain	Outperform	Outperform
2026-07-01	Mizuho	Maintain	Outperform	Outperform
2026-04-30	UBS	Maintain	Buy	Buy
2026-04-30	Truist Securities	Maintain	Buy	Buy
2026-02-19	Keybanc	Maintain	Overweight	Overweight
2026-02-19	UBS	Maintain	Buy	Buy

Historical rating snapshots

Date	Strong buy	Buy	Hold
2026-08-01	1	5	2
2026-07-01	1	8	2
2026-06-01	1	8	1
2026-05-01	1	8	1
2026-04-01	1	8	1
2026-03-01	1	8	1
2026-02-01	1	8	1
2026-01-01	1	8	1

FinancialsFY 2025

Financials

Revenue

$2.55B

Gross margin

42.0%

Operating income

$342.2M

Free cash flow

$227.6M

Cash + ST investments

$626.5M

Net debt

$1.02B

ROE

7.1%

ROIC

7.3%

EV / sales

2.8x

EV / EBITDA

22.0x

R&D / revenue

2.6%

Current ratio

3.7x

Income statement annual

Period	Revenue	Gross profit	Gross margin	R&D	Operating income	EBITDA	Net income	EPS
FY 2025	$2.55B	$1.07B	42.0%	$67.6M	$342.2M	$320.8M	$190.8M	$0.79
FY 2024	$2.46B	$1.04B	42.2%	$63.0M	$343.9M	$501.6M	$244.2M	$1.01
FY 2023	$2.33B	$918.5M	39.4%	$68.1M	$173.6M	$345.1M	$118.1M	$0.49
FY 2022	$2.55B	$952.7M	37.4%	$48.8M	$325.3M	$496.1M	$187.2M	$0.76
FY 2021	$2.40B	$960.8M	40.0%	$49.7M	$299.9M	$475.5M	$203.3M	$0.82
FY 2020	$1.85B	$786.0M	42.4%	$48.6M	$232.7M	$305.9M	$75.7M	$0.30
FY 2019	$1.84B	$788.3M	42.9%	$42.2M	$249.1M	$386.1M	$92.2M	$0.35
FY 2018	$1.96B	$837.6M	42.7%	$44.3M	$248.5M	$411.5M	-$324.4M	$-1.14
FY 2017	$3.78B	$1.59B	42.1%	$98.4M	$221.3M	$379.7M	-$296.2M	$-1.04
FY 2016	$3.59B	$1.51B	42.1%	$84.0M	$253.0M	$583.8M	-$74.0M	$-0.30
FY 2015	$2.54B	$991.9M	39.0%	$62.8M	$71.6M	$235.6M	-$308.6M	$-1.52
FY 2014	$843.2M	$396.6M	47.0%	$26.2M	$9.5M	$212.9M	-$29.9M	$-0.22

Cash flow annual

Period	Operating cash flow	Capex	Free cash flow
FY 2025	$289.8M	$62.2M	$227.6M
FY 2024	$363.6M	$68.4M	$293.6M
FY 2023	$335.8M	$52.7M	$283.1M
FY 2022	$297.7M	$47.8M	$249.9M
FY 2021	$322.5M	$46.3M	$276.2M
FY 2020	$261.3M	$28.8M	$232.5M
FY 2019	$9.0M	$29.7M	-$20.7M
FY 2018	-$8.7M	$28.4M	-$37.1M
FY 2017	$151.0M	$59.4M	$122.7M
FY 2016	$189.8M	$56.0M	$129.0M
FY 2015	$320.9M	$47.9M	$273.0M
FY 2014	$98.2M	$18.5M	$79.6M

Balance sheet annual

Period	Cash + ST inv.	Receivables	Inventory	PP&E	Assets	Debt	Net debt	Liabilities	Equity
FY 2025	$626.5M	$517.7M	$294.7M	$319.6M	$5.10B	$1.64B	$1.02B	$2.41B	$2.67B
FY 2024	$359.4M	$439.6M	$246.2M	$276.8M	$4.87B	$1.91B	$1.55B	$2.48B	$2.38B
FY 2023	$289.3M	$461.8M	$298.9M	$296.9M	$4.97B	$2.03B	$1.74B	$2.63B	$2.33B
FY 2022	$265.6M	$455.8M	$290.7M	$277.2M	$4.90B	$1.98B	$1.72B	$2.55B	$2.33B
FY 2021	$330.1M	$492.2M	$274.4M	$278.1M	$5.14B	$1.97B	$1.64B	$2.64B	$2.48B
FY 2020	$291.9M	$403.4M	$203.1M	$240.4M	$4.48B	$1.57B	$1.28B	$2.17B	$2.32B
FY 2019	$190.1M	$363.9M	$199.6M	$264.8M	$4.32B	$1.58B	$1.39B	$2.11B	$2.22B
FY 2018	$233.6M	$382.4M	$188.1M	$266.9M	$9.40B	$5.38B	$5.14B	$7.22B	$2.11B
FY 2017	$477.8M	$399.8M	$490.4M	$452.3M	$10.25B	$5.45B	$5.00B	$7.39B	$2.74B
FY 2016	$423.0M	$1.05B	$416.0M	$461.0M	$10.05B	$5.24B	$4.82B	$7.17B	$2.73B
FY 2015	$432.2M	$1.15B	$517.5M	$491.6M	$10.19B	$5.23B	$4.80B	$7.27B	$2.75B
FY 2014	$397.3M	$327.3M	$205.8M	$175.0M	$4.56B	$1.42B	$1.02B	$2.00B	$2.46B

Annual ratios and key metrics

Period	Gross margin	Op margin	Net margin	Current	Quick	ROE	ROIC	EV / sales	EV / EBITDA	FCF yield	R&D / rev.	Cash cycle
FY 2025	42.0%	13.4%	7.5%	3.7x	3.0x	7.1%	7.3%	2.8x	22.0x	3.8%	2.6%	106d
FY 2024	42.2%	14.0%	9.9%	3.3x	2.7x	10.2%	6.4%	3.1x	15.4x	4.8%	2.6%	97d
FY 2023	39.4%	7.4%	5.1%	3.2x	2.4x	5.1%	3.4%	3.1x	21.2x	5.1%	2.9%	113d
FY 2022	37.4%	12.8%	7.3%	3.5x	2.6x	8.0%	4.9%	2.4x	12.4x	5.6%	1.9%	101d
FY 2021	40.0%	12.5%	8.5%	2.9x	2.3x	8.2%	5.1%	3.2x	16.1x	4.6%	2.1%	109d
FY 2020	42.4%	12.6%	4.1%	3.1x	2.5x	3.3%	5.3%	3.1x	18.6x	5.3%	2.6%	116d
FY 2019	42.9%	13.6%	5.0%	2.8x	2.2x	4.2%	3.5%	2.4x	11.4x	-0.7%	2.3%	108d
FY 2018	42.7%	12.7%	-16.5%	2.2x	2.0x	-15.4%	3.0%	4.1x	19.6x	-1.3%	2.3%	100d
FY 2017	42.1%	5.9%	-7.8%	2.1x	1.7x	-10.8%	2.4%	2.1x	20.5x	4.4%	2.6%	102d
FY 2016	42.1%	7.1%	-2.1%	1.9x	1.5x	-2.7%	2.8%	2.0x	12.3x	5.4%	2.3%	113d
FY 2015	39.0%	2.8%	-12.1%	2.1x	1.7x	-11.2%	0.8%	2.9x	31.4x	10.5%	2.5%	181d
FY 2014	47.0%	1.1%	-3.5%	6.5x	5.7x	-1.2%	0.2%	4.9x	19.5x	2.5%	3.1%	223d

Annual growth

Period	Revenue	Gross profit	R&D	Op income	Net income	EPS	FCF	Capex	Cash + ST inv.	Inventory	Assets	Debt
FY 2025	+3.8%	+3.4%	+7.3%	-0.5%	-21.9%	-21.8%	-22.5%	+9.1%	+74.3%	+19.7%	+4.7%	-13.8%
FY 2024	+5.3%	+12.8%	-7.5%	+98.1%	+106.8%	+106.1%	+3.7%	-29.8%	+24.2%	-17.6%	-2.0%	-5.9%
FY 2023	-8.5%	-3.6%	+39.5%	-46.6%	-36.9%	-35.5%	+13.3%	-10.3%	+8.9%	+2.8%	+1.4%	+2.2%
FY 2022	+6.2%	-0.8%	-1.8%	+8.5%	-7.9%	-7.3%	-9.5%	-3.2%	-19.5%	+5.9%	-4.6%	+0.8%
FY 2021	+29.5%	+22.2%	+2.3%	+28.9%	+168.6%	+173.3%	+18.8%	-60.8%	+13.1%	+35.1%	+14.6%	+25.2%
FY 2020	+1.0%	-0.3%	+15.2%	-6.6%	-17.9%	-14.3%	+1223.2%	+3.0%	+53.6%	+1.8%	+3.7%	-0.7%
FY 2019	-6.4%	-5.9%	-4.7%	+0.2%	+128.4%	+130.7%	+44.2%	-4.6%	-18.6%	+6.1%	-54.0%	-70.5%
FY 2018	-48.1%	-47.3%	-55.0%	+12.3%	-9.5%	-9.6%	-130.2%	+52.2%	-51.1%	-61.6%	-8.3%	-1.3%
FY 2017	+5.3%	+5.4%	+17.1%	-12.5%	-300.3%	-246.7%	-4.9%	-6.1%	+13.0%	+17.9%	+2.0%	+4.0%
FY 2016	+41.1%	+52.0%	+33.8%	+253.4%	+76.0%	+80.3%	-52.7%	-16.9%	-2.1%	-19.6%	-1.3%	+0.2%
FY 2015	+201.5%	+150.1%	+139.4%	+653.9%	-931.8%	-590.9%	+242.9%	-158.3%	+8.8%	+151.4%	+123.6%	+269.3%
FY 2014	+15.3%	+11.7%	+4.7%	-91.7%	+84.6%	+90.0%	+52.2%	-65.6%	+222.9%	+129.7%	+103.3%	+88.2%

SegmentsFY 2025

Revenue Mix

Period	Total	Electronics Segment	Industrial And Specialty Segment	Agricultural Solutions Segment	Performance Solutions Segment
FY 2025	$1.79B	$1.79B	--	--	--
FY 2024	$2.46B	$1.56B	$895.5M	--	--
FY 2023	$2.33B	$1.41B	$918.5M	--	--
FY 2022	$2.55B	$1.60B	$945.3M	--	--
FY 2021	$2.40B	$1.53B	$866.0M	--	--
FY 2020	$1.85B	$1.17B	$681.6M	--	--
FY 2019	$1.84B	$1.09B	$750.2M	--	--
FY 2018	$1.96B	$1.16B	$803.5M	--	--
FY 2017	$7.55B	--	--	$3.79B	$3.76B
FY 2016	$1.82B	--	--	$1.82B	--

Period	Total	Other Countries	UNITED STATES	Non-US	CHINA	BRAZIL	Foreign Sales	FRANCE	GERMANY	JAPAN
FY 2025	$2.55B	$1.47B	$524.3M	--	$557.9M	--	--	--	--	--
FY 2024	$2.46B	$1.41B	$566.4M	--	$479.0M	--	--	--	--	--
FY 2023	$2.33B	$1.34B	$576.2M	--	$418.9M	--	--	--	--	--
FY 2017	$3.78B	$2.64B	$654.7M	--	--	$476.7M	--	--	--	--
FY 2016	$6.30B	$1.38B	$725.4M	$2.86B	$330.6M	$463.0M	--	$227.8M	$172.9M	$145.7M
FY 2014	$1.35B	$418.9M	$217.4M	--	$87.8M	--	$625.8M	--	--	--

Transcripts

Events

Next earnings

2026-10-27EPS est $0.48

Recent filings

SC 13G2026-08-13
4252026-08-11
4252026-07-30

Latest news

Element Solutions Inc Declares Q3 Dividend of $0.08 Per Share
Business Wire · 2026-08-14
Empowered Funds LLC Invests $1.71 Million in Element Solutions Inc. $ESI
Defense World · 2026-08-08

Analyst expectations

Consensus target

$46.86

+30.8%

Target range

$37.00 - $52.00

Rating mix

Buy

35 ratings

Next FY revenue

$3.68B

2026-12-31

Next FY EPS

$1.81

$1.79 - $1.82

Rating consensus35 ratings

Strong buy

Buy

Hold

Sell

Strong sell

Annual estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-12-31	$3.68B	$3.62B - $3.74B	$1.81	$1.79 - $1.82	$640.4M	$400.3M	$438.6M	$921.2M	6 rev / 5 EPS
2027-12-31	$3.96B	$3.88B - $4.05B	$2.08	$2.02 - $2.18	$689.6M	$431.0M	$511.1M	$992.0M	6 rev / 5 EPS
2028-12-31	$4.22B	$4.13B - $4.30B	$2.36	$2.30 - $2.43	$734.0M	$458.8M	$580.6M	$1.06B	3 rev / 2 EPS

Quarterly estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-09-30	$959.0M	$932.5M - $985.6M	$0.47	$0.46 - $0.49	$167.0M	$104.4M	$115.2M	$240.2M	5 rev / 5 EPS
2026-12-30	$949.1M	$913.9M - $984.3M	$0.46	$0.45 - $0.47	$165.2M	$103.3M	$111.4M	$237.7M	5 rev / 5 EPS
2027-03-30	$934.2M	$901.0M - $966.0M	$0.47	$0.45 - $0.49	$162.6M	$101.7M	$114.5M	$234.0M	4 rev / 3 EPS
2027-06-30	$1.03B	$989.6M - $1.06B	$0.53	$0.51 - $0.55	$178.6M	$111.7M	$129.4M	$257.0M	4 rev / 3 EPS
2027-09-30	$1.03B	$992.0M - $1.06B	$0.55	$0.52 - $0.57	$179.1M	$111.9M	$133.9M	$257.6M	4 rev / 3 EPS
2027-12-30	$1.01B	$978.7M - $1.05B	$0.53	$0.51 - $0.56	$176.7M	$110.4M	$129.7M	$254.2M	4 rev / 3 EPS
2028-03-30	$993.1M	$957.8M - $1.03B	$0.51	$0.48 - $0.53	$172.9M	$108.1M	$123.3M	$248.7M	3 rev / 4 EPS
2028-06-30	$1.11B	$1.07B - $1.14B	$0.58	$0.55 - $0.60	$192.5M	$120.3M	$140.8M	$276.9M	3 rev / 4 EPS

Price target history

Window	Targets	Average target
Last month	1	$47.00
Last quarter	5	$48.80
Last year	23	$40.17
All time	37	$37.08

Sources: TheFly, StreetInsider, Benzinga, Pulse 2.0

Latest grade actions

Date	Firm	Action	Previous	New
2026-07-15	Mizuho	Downgrade	Outperform	Neutral
2026-07-09	Truist Securities	Maintain	Buy	Buy
2026-07-06	BMO Capital	Maintain	Outperform	Outperform
2026-07-01	Mizuho	Maintain	Outperform	Outperform
2026-04-30	UBS	Maintain	Buy	Buy
2026-04-30	Truist Securities	Maintain	Buy	Buy
2026-02-19	Keybanc	Maintain	Overweight	Overweight
2026-02-19	UBS	Maintain	Buy	Buy

Historical rating snapshots

Date	Strong buy	Buy	Hold
2026-08-01	1	5	2
2026-07-01	1	8	2
2026-06-01	1	8	1
2026-05-01	1	8	1
2026-04-01	1	8	1
2026-03-01	1	8	1
2026-02-01	1	8	1
2026-01-01	1	8	1

Financials

Revenue

$2.55B

Gross margin

42.0%

Operating income

$342.2M

Free cash flow

$227.6M

Cash + ST investments

$626.5M

Net debt

$1.02B

ROE

7.1%

ROIC

7.3%

EV / sales

2.8x

EV / EBITDA

22.0x

R&D / revenue

2.6%

Current ratio

3.7x

Income statement annual

Period	Revenue	Gross profit	Gross margin	R&D	Operating income	EBITDA	Net income	EPS
FY 2025	$2.55B	$1.07B	42.0%	$67.6M	$342.2M	$320.8M	$190.8M	$0.79
FY 2024	$2.46B	$1.04B	42.2%	$63.0M	$343.9M	$501.6M	$244.2M	$1.01
FY 2023	$2.33B	$918.5M	39.4%	$68.1M	$173.6M	$345.1M	$118.1M	$0.49
FY 2022	$2.55B	$952.7M	37.4%	$48.8M	$325.3M	$496.1M	$187.2M	$0.76
FY 2021	$2.40B	$960.8M	40.0%	$49.7M	$299.9M	$475.5M	$203.3M	$0.82
FY 2020	$1.85B	$786.0M	42.4%	$48.6M	$232.7M	$305.9M	$75.7M	$0.30
FY 2019	$1.84B	$788.3M	42.9%	$42.2M	$249.1M	$386.1M	$92.2M	$0.35
FY 2018	$1.96B	$837.6M	42.7%	$44.3M	$248.5M	$411.5M	-$324.4M	$-1.14
FY 2017	$3.78B	$1.59B	42.1%	$98.4M	$221.3M	$379.7M	-$296.2M	$-1.04
FY 2016	$3.59B	$1.51B	42.1%	$84.0M	$253.0M	$583.8M	-$74.0M	$-0.30
FY 2015	$2.54B	$991.9M	39.0%	$62.8M	$71.6M	$235.6M	-$308.6M	$-1.52
FY 2014	$843.2M	$396.6M	47.0%	$26.2M	$9.5M	$212.9M	-$29.9M	$-0.22

Cash flow annual

Period	Operating cash flow	Capex	Free cash flow
FY 2025	$289.8M	$62.2M	$227.6M
FY 2024	$363.6M	$68.4M	$293.6M
FY 2023	$335.8M	$52.7M	$283.1M
FY 2022	$297.7M	$47.8M	$249.9M
FY 2021	$322.5M	$46.3M	$276.2M
FY 2020	$261.3M	$28.8M	$232.5M
FY 2019	$9.0M	$29.7M	-$20.7M
FY 2018	-$8.7M	$28.4M	-$37.1M
FY 2017	$151.0M	$59.4M	$122.7M
FY 2016	$189.8M	$56.0M	$129.0M
FY 2015	$320.9M	$47.9M	$273.0M
FY 2014	$98.2M	$18.5M	$79.6M

Balance sheet annual

Period	Cash + ST inv.	Receivables	Inventory	PP&E	Assets	Debt	Net debt	Liabilities	Equity
FY 2025	$626.5M	$517.7M	$294.7M	$319.6M	$5.10B	$1.64B	$1.02B	$2.41B	$2.67B
FY 2024	$359.4M	$439.6M	$246.2M	$276.8M	$4.87B	$1.91B	$1.55B	$2.48B	$2.38B
FY 2023	$289.3M	$461.8M	$298.9M	$296.9M	$4.97B	$2.03B	$1.74B	$2.63B	$2.33B
FY 2022	$265.6M	$455.8M	$290.7M	$277.2M	$4.90B	$1.98B	$1.72B	$2.55B	$2.33B
FY 2021	$330.1M	$492.2M	$274.4M	$278.1M	$5.14B	$1.97B	$1.64B	$2.64B	$2.48B
FY 2020	$291.9M	$403.4M	$203.1M	$240.4M	$4.48B	$1.57B	$1.28B	$2.17B	$2.32B
FY 2019	$190.1M	$363.9M	$199.6M	$264.8M	$4.32B	$1.58B	$1.39B	$2.11B	$2.22B
FY 2018	$233.6M	$382.4M	$188.1M	$266.9M	$9.40B	$5.38B	$5.14B	$7.22B	$2.11B
FY 2017	$477.8M	$399.8M	$490.4M	$452.3M	$10.25B	$5.45B	$5.00B	$7.39B	$2.74B
FY 2016	$423.0M	$1.05B	$416.0M	$461.0M	$10.05B	$5.24B	$4.82B	$7.17B	$2.73B
FY 2015	$432.2M	$1.15B	$517.5M	$491.6M	$10.19B	$5.23B	$4.80B	$7.27B	$2.75B
FY 2014	$397.3M	$327.3M	$205.8M	$175.0M	$4.56B	$1.42B	$1.02B	$2.00B	$2.46B

Annual ratios and key metrics

Period	Gross margin	Op margin	Net margin	Current	Quick	ROE	ROIC	EV / sales	EV / EBITDA	FCF yield	R&D / rev.	Cash cycle
FY 2025	42.0%	13.4%	7.5%	3.7x	3.0x	7.1%	7.3%	2.8x	22.0x	3.8%	2.6%	106d
FY 2024	42.2%	14.0%	9.9%	3.3x	2.7x	10.2%	6.4%	3.1x	15.4x	4.8%	2.6%	97d
FY 2023	39.4%	7.4%	5.1%	3.2x	2.4x	5.1%	3.4%	3.1x	21.2x	5.1%	2.9%	113d
FY 2022	37.4%	12.8%	7.3%	3.5x	2.6x	8.0%	4.9%	2.4x	12.4x	5.6%	1.9%	101d
FY 2021	40.0%	12.5%	8.5%	2.9x	2.3x	8.2%	5.1%	3.2x	16.1x	4.6%	2.1%	109d
FY 2020	42.4%	12.6%	4.1%	3.1x	2.5x	3.3%	5.3%	3.1x	18.6x	5.3%	2.6%	116d
FY 2019	42.9%	13.6%	5.0%	2.8x	2.2x	4.2%	3.5%	2.4x	11.4x	-0.7%	2.3%	108d
FY 2018	42.7%	12.7%	-16.5%	2.2x	2.0x	-15.4%	3.0%	4.1x	19.6x	-1.3%	2.3%	100d
FY 2017	42.1%	5.9%	-7.8%	2.1x	1.7x	-10.8%	2.4%	2.1x	20.5x	4.4%	2.6%	102d
FY 2016	42.1%	7.1%	-2.1%	1.9x	1.5x	-2.7%	2.8%	2.0x	12.3x	5.4%	2.3%	113d
FY 2015	39.0%	2.8%	-12.1%	2.1x	1.7x	-11.2%	0.8%	2.9x	31.4x	10.5%	2.5%	181d
FY 2014	47.0%	1.1%	-3.5%	6.5x	5.7x	-1.2%	0.2%	4.9x	19.5x	2.5%	3.1%	223d

Annual growth

Period	Revenue	Gross profit	R&D	Op income	Net income	EPS	FCF	Capex	Cash + ST inv.	Inventory	Assets	Debt
FY 2025	+3.8%	+3.4%	+7.3%	-0.5%	-21.9%	-21.8%	-22.5%	+9.1%	+74.3%	+19.7%	+4.7%	-13.8%
FY 2024	+5.3%	+12.8%	-7.5%	+98.1%	+106.8%	+106.1%	+3.7%	-29.8%	+24.2%	-17.6%	-2.0%	-5.9%
FY 2023	-8.5%	-3.6%	+39.5%	-46.6%	-36.9%	-35.5%	+13.3%	-10.3%	+8.9%	+2.8%	+1.4%	+2.2%
FY 2022	+6.2%	-0.8%	-1.8%	+8.5%	-7.9%	-7.3%	-9.5%	-3.2%	-19.5%	+5.9%	-4.6%	+0.8%
FY 2021	+29.5%	+22.2%	+2.3%	+28.9%	+168.6%	+173.3%	+18.8%	-60.8%	+13.1%	+35.1%	+14.6%	+25.2%
FY 2020	+1.0%	-0.3%	+15.2%	-6.6%	-17.9%	-14.3%	+1223.2%	+3.0%	+53.6%	+1.8%	+3.7%	-0.7%
FY 2019	-6.4%	-5.9%	-4.7%	+0.2%	+128.4%	+130.7%	+44.2%	-4.6%	-18.6%	+6.1%	-54.0%	-70.5%
FY 2018	-48.1%	-47.3%	-55.0%	+12.3%	-9.5%	-9.6%	-130.2%	+52.2%	-51.1%	-61.6%	-8.3%	-1.3%
FY 2017	+5.3%	+5.4%	+17.1%	-12.5%	-300.3%	-246.7%	-4.9%	-6.1%	+13.0%	+17.9%	+2.0%	+4.0%
FY 2016	+41.1%	+52.0%	+33.8%	+253.4%	+76.0%	+80.3%	-52.7%	-16.9%	-2.1%	-19.6%	-1.3%	+0.2%
FY 2015	+201.5%	+150.1%	+139.4%	+653.9%	-931.8%	-590.9%	+242.9%	-158.3%	+8.8%	+151.4%	+123.6%	+269.3%
FY 2014	+15.3%	+11.7%	+4.7%	-91.7%	+84.6%	+90.0%	+52.2%	-65.6%	+222.9%	+129.7%	+103.3%	+88.2%

Revenue Mix