Estimates
Source: S&P Capital IQ consensus via Xpressfeed · Generated 2026-07-17.
Street snapshot
Sixteen price targets span $210 to $340 (mean $254, median $246.5), a wide band around a stock the Street rates cautiously.
Currency: USD · Scale: money in millions, absolute (per share) · Analyst counts shown explicitly; recommendation respondents: 18.
| Street view | Reading | Analysts |
|---|---|---|
| Recommendation mix | Buy 2, Outperform 0, Hold 10, Underperform 2, Sell 4 | 18 |
| Consensus score | 3.33 | 18 |
| Target price | mean 254.0; high 340.0; low 210.0 | 16 |
Forward table
Consensus carries revenue from FY2025's $2,321.7M actual to roughly $2,769M by FY2028 and normalized EPS from $16.98 to about $21.87, i.e. steady mid-single-digit revenue growth with a faster EPS climb. Gross margin is modeled to ease toward 51% in FY2026 from 53.4% in FY2025.
Currency: USD · Scale: money in millions, absolute (per share) · Analyst count is the estimate count for each period and metric.
| Period | Metric | Mean | YoY | Analysts | Low / high |
|---|---|---|---|---|---|
| FY0E | Revenue | 2,470 | 6.4% | 16 | 2,453 / 2,475 |
| FY0E | EBITDA | 923.4 | -1.2% | 10 | 872.0 / 943.0 |
| FY0E | EBIT | 850.9 | 0.3% | — | — / — |
| FY0E | Net income (GAAP) | 554.0 | -7.2% | 10 | 541.7 / 567.5 |
| FY0E | Net income (normalized) | 654.1 | -0.2% | — | — / — |
| FY0E | EPS (GAAP) | 15.06 | -3.1% | 11 | 14.78 / 15.44 |
| FY0E | EPS (normalized) | 17.81 | 4.9% | 18 | 17.49 / 18.01 |
| FY0E | Free cash flow | 691.3 | 6.1% | — | — / — |
| FY0E | Dividend per share | 4.49 | 5.4% | — | — / — |
| FY0E | Gross margin | 51.3% | -3.9% | — | — / — |
| FY0E | Capital expenditure | -116.2 | 16.7% | — | — / — |
| FY0E | Net debt | 1,057 | -0.5% | — | — / — |
| FY0E | Cash from operations | 809.4 | 5.2% | — | — / — |
| FY0E | ROE | 26.5% | -7.4% | — | — / — |
| FY+1E | Revenue | 2,613 | 5.8% | 16 | 2,575 / 2,634 |
| FY+1E | EBITDA | 998.3 | 8.1% | 10 | 936.4 / 1,046 |
| FY+1E | EBIT | 900.7 | 5.8% | — | — / — |
| FY+1E | Net income (GAAP) | 627.5 | 13.3% | 10 | 604.3 / 649.0 |
| FY+1E | Net income (normalized) | 691.1 | 5.7% | — | — / — |
| FY+1E | EPS (GAAP) | 17.81 | 18.3% | 11 | 16.63 / 18.67 |
| FY+1E | EPS (normalized) | 19.67 | 10.5% | 18 | 18.62 / 20.30 |
| FY+1E | Free cash flow | 711.4 | 2.9% | — | — / — |
| FY+1E | Dividend per share | 4.72 | 5.1% | — | — / — |
| FY+1E | Gross margin | 51.8% | 1.0% | — | — / — |
| FY+1E | Capital expenditure | -127.7 | 9.8% | — | — / — |
| FY+1E | Net debt | 851.2 | -19.4% | — | — / — |
| FY+1E | Cash from operations | 865.8 | 7.0% | — | — / — |
| FY+1E | ROE | 29.9% | 12.9% | — | — / — |
| FY+2E | Revenue | 2,769 | 6.0% | 13 | 2,693 / 2,818 |
| FY+2E | EBITDA | 1,050 | 5.2% | 8 | 947.7 / 1,126 |
| FY+2E | EBIT | 953.8 | 5.9% | — | — / — |
| FY+2E | Net income (GAAP) | 685.4 | 9.2% | 7 | 645.4 / 712.0 |
| FY+2E | Net income (normalized) | 736.9 | 6.6% | — | — / — |
| FY+2E | EPS (GAAP) | 19.96 | 12.1% | 8 | 17.77 / 20.82 |
| FY+2E | EPS (normalized) | 21.87 | 11.2% | 14 | 19.88 / 23.17 |
| FY+2E | Free cash flow | 748.3 | 5.2% | — | — / — |
| FY+2E | Dividend per share | 4.94 | 4.8% | — | — / — |
| FY+2E | Gross margin | 51.7% | -0.2% | — | — / — |
| FY+2E | Capital expenditure | -136.1 | 6.6% | — | — / — |
| FY+2E | Net debt | 818.4 | -3.9% | — | — / — |
| FY+2E | Cash from operations | 929.6 | 7.4% | — | — / — |
| FY+2E | ROE | 32.1% | 7.2% | — | — / — |
| Q4 FY2026 | Revenue | 629.2 | 5.4% | 14 | 625.8 / 633.6 |
| Q4 FY2026 | EBITDA | 231.3 | -5.4% | 7 | 219.6 / 241.0 |
| Q4 FY2026 | EBIT | 206.9 | -0.3% | — | — / — |
| Q4 FY2026 | Net income (GAAP) | 139.0 | -9.5% | 8 | 129.3 / 153.8 |
| Q4 FY2026 | Net income (normalized) | 155.0 | -1.3% | — | — / — |
| Q4 FY2026 | EPS (GAAP) | 3.91 | -3.0% | 9 | 3.62 / 4.29 |
| Q4 FY2026 | EPS (normalized) | 4.34 | 7.1% | 16 | 4.14 / 4.52 |
| Q4 FY2026 | Free cash flow | 166.4 | -6.8% | — | — / — |
| Q4 FY2026 | Dividend per share | 1.14 | 3.6% | — | — / — |
| Q4 FY2026 | Gross margin | 51.1% | -3.7% | — | — / — |
| Q4 FY2026 | Capital expenditure | -28.83 | 12.3% | — | — / — |
| Q4 FY2026 | Net debt | 1,008 | — | — | — / — |
| Q4 FY2026 | ROE | 27.7% | 6.1% | — | — / — |
| Q4 FY2026 | Cash from operations | 207.5 | -8.5% | — | — / — |
| Q1 FY2027 | Revenue | 643.2 | 5.9% | 12 | 637.8 / 649.4 |
| Q1 FY2027 | EBITDA | 252.6 | 2.0% | 6 | 243.4 / 259.0 |
| Q1 FY2027 | EBIT | 228.2 | 6.7% | — | — / — |
| Q1 FY2027 | Net income (GAAP) | 156.8 | 2.8% | 6 | 150.5 / 162.2 |
| Q1 FY2027 | Net income (normalized) | 173.5 | 5.2% | — | — / — |
| Q1 FY2027 | EPS (GAAP) | 4.46 | 9.8% | 7 | 4.28 / 4.64 |
| Q1 FY2027 | EPS (normalized) | 4.94 | 9.5% | 15 | 4.75 / 5.14 |
| Q1 FY2027 | Free cash flow | 124.6 | 2.4% | — | — / — |
| Q1 FY2027 | Dividend per share | 1.15 | 2.5% | — | — / — |
| Q1 FY2027 | Gross margin | 52.5% | -1.5% | — | — / — |
| Q1 FY2027 | Capital expenditure | -29.44 | 8.1% | — | — / — |
| Q1 FY2027 | Net debt | 893.5 | — | — | — / — |
| Q1 FY2027 | ROE | 30.8% | 13.5% | — | — / — |
| Q1 FY2027 | Cash from operations | 137.5 | -5.6% | — | — / — |
| Q2 FY2027 | Revenue | 647.0 | 5.9% | 12 | 641.2 / 650.7 |
| Q2 FY2027 | EBITDA | 248.9 | 14.3% | 6 | 236.5 / 258.0 |
| Q2 FY2027 | EBIT | 223.5 | 4.3% | — | — / — |
| Q2 FY2027 | Net income (GAAP) | 154.6 | 16.2% | 6 | 148.5 / 160.8 |
| Q2 FY2027 | Net income (normalized) | 169.9 | 4.6% | — | — / — |
| Q2 FY2027 | EPS (GAAP) | 4.43 | 23.3% | 7 | 4.25 / 4.67 |
| Q2 FY2027 | EPS (normalized) | 4.90 | 9.8% | 15 | 4.68 / 5.07 |
| Q2 FY2027 | Free cash flow | 179.4 | 8.4% | — | — / — |
| Q2 FY2027 | Dividend per share | 1.15 | 4.4% | — | — / — |
| Q2 FY2027 | Gross margin | 51.5% | -1.1% | — | — / — |
| Q2 FY2027 | Capital expenditure | -27.76 | -3.2% | — | — / — |
| Q2 FY2027 | Net debt | 712.9 | -30.4% | — | — / — |
| Q2 FY2027 | ROE | 29.2% | 7.5% | — | — / — |
| Q2 FY2027 | Cash from operations | 218.9 | 8.3% | — | — / — |
| Q3 FY2027 | Revenue | 659.3 | 5.8% | 12 | 653.8 / 664.5 |
| Q3 FY2027 | EBITDA | 250.3 | 17.1% | 6 | 233.5 / 270.3 |
| Q3 FY2027 | EBIT | 226.2 | 5.6% | — | — / — |
| Q3 FY2027 | Net income (GAAP) | 155.1 | 22.4% | 6 | 145.9 / 160.0 |
| Q3 FY2027 | Net income (normalized) | 171.9 | 5.4% | — | — / — |
| Q3 FY2027 | EPS (GAAP) | 4.48 | 27.9% | 7 | 4.23 / 4.75 |
| Q3 FY2027 | EPS (normalized) | 4.93 | 8.9% | 15 | 4.70 / 5.15 |
| Q3 FY2027 | Free cash flow | 207.2 | -0.2% | — | — / — |
| Q3 FY2027 | Dividend per share | 1.17 | 2.8% | — | — / — |
| Q3 FY2027 | Gross margin | 50.6% | -1.3% | — | — / — |
| Q3 FY2027 | Capital expenditure | -29.56 | 11.7% | — | — / — |
| Q3 FY2027 | Net debt | 570.0 | -44.9% | — | — / — |
| Q3 FY2027 | Cash from operations | 265.1 | 13.6% | — | — / — |
| Q3 FY2027 | ROE | 28.0% | 1.1% | — | — / — |
Estimate momentum
Out-year consensus has firmed over the past 180 days: FY2027 revenue moved from $2,578.8M to $2,613.0M and normalized EPS from $19.01 to $19.67, with FY2028 estimates similarly higher. The revisions are broad across both years and metrics but modest in size.
Currency: USD · Scale: money in millions, absolute (per share) · Point-in-time consensus; analyst count is shown where supplied.
| Period | Metric | Lookback | Then | Now | Direction / magnitude | Analysts |
|---|---|---|---|---|---|---|
| 2027 | Revenue | 30d | 2,604 | 2,613 | up 0.4% | — |
| 2027 | Revenue | 90d | 2,603 | 2,613 | up 0.4% | — |
| 2027 | Revenue | 180d | 2,579 | 2,613 | up 1.3% | — |
| 2028 | EPS (normalized) | 30d | 21.44 | 21.87 | up 2.0% | — |
| 2028 | EPS (normalized) | 90d | 21.48 | 21.87 | up 1.8% | — |
| 2028 | EPS (normalized) | 180d | 20.95 | 21.87 | up 4.4% | — |
| 2028 | Revenue | 30d | 2,755 | 2,769 | up 0.5% | — |
| 2028 | Revenue | 90d | 2,754 | 2,769 | up 0.5% | — |
| 2028 | Revenue | 180d | 2,725 | 2,769 | up 1.6% | — |
| 2027 | EPS (normalized) | 30d | 19.39 | 19.67 | up 1.5% | — |
| 2027 | EPS (normalized) | 90d | 19.42 | 19.67 | up 1.3% | — |
| 2027 | EPS (normalized) | 180d | 19.01 | 19.67 | up 3.5% | — |
Beat / miss record
Revenue has topped consensus in seven of the last eight quarters, the exception a fractional FY2025 Q2 miss.
Current sequences by metric: Revenue: 5 consecutive beats; EPS (normalized): 3 consecutive beats.
Currency: USD · Scale: money in millions, absolute (per share) · Consensus is captured before each actual first became effective; analyst count shown per observation.
| Quarter | Metric | Consensus as of | Actual | Surprise | Outcome | Analysts |
|---|---|---|---|---|---|---|
| Q3 FY2026 | Revenue | 618.1 | 622.9 | 0.8% | Beat | — |
| Q3 FY2026 | EPS (normalized) | 4.45 | 4.53 | 1.8% | Beat | — |
| Q2 FY2026 | Revenue | 604.9 | 611.0 | 1.0% | Beat | — |
| Q2 FY2026 | EPS (normalized) | 4.38 | 4.46 | 1.9% | Beat | — |
| Q1 FY2026 | Revenue | 600.6 | 607.6 | 1.2% | Beat | — |
| Q1 FY2026 | EPS (normalized) | 4.36 | 4.51 | 3.5% | Beat | — |
| Q4 FY2025 | Revenue | 593.4 | 596.9 | 0.6% | Beat | — |
| Q4 FY2025 | EPS (normalized) | 4.13 | 4.05 | -1.9% | Miss | — |
| Q3 FY2025 | Revenue | 580.9 | 585.5 | 0.8% | Beat | — |
| Q3 FY2025 | EPS (normalized) | 4.30 | 4.27 | -0.6% | Miss | — |
| Q2 FY2025 | Revenue | 570.7 | 570.7 | -0.0% | Miss | — |
| Q2 FY2025 | EPS (normalized) | 4.18 | 4.28 | 2.4% | Beat | — |
| Q1 FY2025 | Revenue | 565.0 | 568.7 | 0.6% | Beat | — |
| Q1 FY2025 | EPS (normalized) | 4.28 | 4.37 | 2.2% | Beat | — |
| Q4 FY2024 | Revenue | 546.8 | 562.2 | 2.8% | Beat | — |
| Q4 FY2024 | EPS (normalized) | 3.62 | 3.74 | 3.3% | Beat | — |
Where the street disagrees
Disagreement concentrates in the thinly-covered out-years: FY2029 rests on just five revenue estimates, five normalized-EPS estimates (stddev $1.58) and a single EBITDA mark, so those spreads carry a weak signal.
Currency: USD · Scale: money in millions, absolute (per share) · Dispersion is high-low divided by absolute mean; analyst count shown per item.
| Period | Metric | Mean | Low | High | Spread / mean | Analysts |
|---|---|---|---|---|---|---|
| 2029 | EPS (GAAP) | 21.99 | 18.83 | 23.80 | 22.6% | 4 |
| 2029 | EPS (normalized) | 23.96 | 21.04 | 25.55 | 18.8% | 5 |
| Q4 FY2026 | Net income (GAAP) | 139.0 | 129.3 | 153.8 | 17.6% | 8 |
| Q4 FY2026 | EPS (GAAP) | 3.91 | 3.62 | 4.29 | 17.2% | 9 |
| 2028 | EBITDA | 1,050 | 947.7 | 1,126 | 17.0% | 8 |