Vikram Thermo (India) Ltd
530477Vikram Thermo (India) Ltd is strength at full price. The numbers are improving — and a P/E at the 88th percentile of its own range says the market knows.
The sharpest disagreement: the engine is strong, but at the 88th percentile of its own range you are paying full price for it.
The price is in a confirmed uptrend (6 weeks in) while the P/E sits at the 88th percentile of its own 10-year range. Underneath, the last four quarters read improving — profit +109.3% year on year, and 139% of the last 3 years' profit arrived as cash. What settles it: whether the earnings grow into the multiple.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Vikram Thermo (India) Ltd trades at ₹245, in a confirmed uptrend and 6 weeks into that stage. That is +38.0% against its own 200-day average. It sits at 100% of a 52-week range of ₹152 to ₹245. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 8 straight weeks.
Today the stock is in a confirmed uptrend — week 6 of stage 2, confirmed. At ₹245 it trades +38.0% versus its 200-day average and sits at 100% of its 52-week range (₹152–₹245).
Against the market, two honest reads. Cumulative: over the last 4 months the stock moved +53% while the NIFTY 500 moved +3% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 8 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 88th percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Vikram Thermo (India) Ltd trades at 20.0× P/E, at the pricey end of its own range (88th percentile). Its long-run median P/E is 14.3×, measured across 10.1 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 20.0× is at the pricey end of its own range (88th percentile), against a long-run median of 14.3× measured over 10.1 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Vikram Thermo (India) Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE lifting at 36.0% — the per-curve reads carry the story. The read is built from 9 quarters across 3 curves, on partial evidence.
Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +6.3% | +6.2% | +12.6% | +13.4% |
| Profit | +375.0% | +30.8% | +25.9% | +25.2% |
| EPS | +375.2% | +31.5% | +26.2% | +23.3% |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
63.4/100 — rank 4 of 27 in Speciality Chemicals · 64% evidence confidence
Vikram Thermo (India) Ltd scores 63.4 out of 100 against the 27 companies it is compared with in Speciality Chemicals, ranking 4. Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
The four contributions add to the total exactly: 23.3 + 19.1 + 8.9 + 12.1 = 63.4. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Vikram Thermo (India) Ltd reported ₹37.8 Cr of revenue in the Mar 26 quarter, +39.3% year on year. Over 10 years it has compounded at 13.4% a year. The last full year, FY26, came in at ₹134 Cr. The last four reported quarters add to ₹135 Cr.
Vikram Thermo (India) Ltd reported ₹37.8 Cr of revenue in the Mar 26 quarter, +39.3% year on year. Over 10 years it has compounded at 13.4% a year. The last full year, FY26, came in at ₹134 Cr. The last four reported quarters add to ₹135 Cr.
FY26 revenue came in at ₹134 Cr (+6.3% on the year), capping 10 years at 13.4% compound. The latest quarter (Mar 26) printed ₹37.8 Cr, +39.3% year on year.
Pace check: the last four quarters averaged +8.3% growth against the decade's 13.4% — the current year is running slower than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +7.0% over the last 4 quarters against +12.2%/yr over the last 8 — rolling over; TTM profit +446.1% vs +23.2%/yr — accelerating.
→ Revenue grew — did margins hold as it scaled? Next: 31.7% this quarter (+7.1 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Vikram Thermo (India) Ltd's operating margin is 31.7% in the Mar 26 quarter, +7.1 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 12 fiscal years the operating margin has ranged 10.0% to 40.0%. The current quarter sits inside that band.
Vikram Thermo (India) Ltd's operating margin is 31.7% in the Mar 26 quarter, +7.1 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 12 fiscal years the operating margin has ranged 10.0% to 40.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 31.7%, +7.1 pp against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged 10.0%–40.0%, and FY26's 40.0% is the top of that band — a record year.
Why the margin moved: operating margin went +7.1 pp year on year while gross margin went +9.3 pp — the gain came mostly from the gross line: input costs and pricing.
Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.
→ Margins held — did that reach the bottom line? Next: profit +109.3% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Vikram Thermo (India) Ltd earned ₹8.5 Cr of net profit in the Mar 26 quarter, +109.3% year on year. It is the 3rd consecutive quarter of growth. Full-year FY26 profit was ₹38.0 Cr. The 10-year compound rate is 25.2%. That is 22.6% of the quarter's revenue. The same quarter a year earlier earned ₹4.1 Cr.
Vikram Thermo (India) Ltd earned ₹8.5 Cr of net profit in the Mar 26 quarter, +109.3% year on year. It is the 3rd consecutive quarter of growth. Full-year FY26 profit was ₹38.0 Cr. The 10-year compound rate is 25.2%. That is 22.6% of the quarter's revenue. The same quarter a year earlier earned ₹4.1 Cr.
Mar 26 profit was ₹8.5 Cr, +109.3% year on year — the 3rd consecutive quarter of growth. On the full year, FY26 printed ₹38.0 Cr (+375.0%), and the 10-year compound rate is 25.2%.
Why profit moved: revenue contributed +39.3% and the margin +7.1 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +48.0% vs revenue +8.3%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
→ Profit rose — but did the cash follow? Next: 139% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 139% of Vikram Thermo (India) Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹52.0 Cr of operating cash against ₹38.0 Cr of profit. After ₹15.0 Cr of capital spending, ₹37.0 Cr was left as free cash.
FY26: operating cash of ₹52.0 Cr against reported profit of ₹38.0 Cr, leaving free cash of ₹37.0 Cr after ₹15.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 139% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 139%: the cash cycle held roughly steady between FY21 and FY26 — so conversion tracks profitability rather than the cycle.
Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.
→ So follow the cash to where it goes. Next: a 108-day cycle and ₹4.0 Cr of building.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Vikram Thermo (India) Ltd's cash conversion cycle runs 108 days in FY26, up from 101 days in FY21. Capital spending ran ₹4.0 Cr over the last 3 years. At FY26 sales of ₹134 Cr each day of that cycle holds about ₹0.4 Cr, so roughly ₹40.0 Cr sits inside the business at any moment.
FY26: debtors at 125 days, inventory at 87 days — roughly 2.9 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 108 days, looser than FY21's 101.
The full loop: cash goes out to suppliers and production on day 0; stock waits 87 days to sell; customers pay about 125 days after that; and suppliers themselves are paid at 104 days — netting out to the 108-day cycle.
In money terms: at FY26 sales of ₹134 Cr, each day of the cycle holds about ₹0.4 Cr — so the 108-day loop keeps roughly ₹40.0 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹4.0 Cr over the last 3 fiscal years against ₹8.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 36%.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Vikram Thermo (India) Ltd earns a ROCE of 36% in FY26. That is up from a trough of 8% in FY18. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 28.4% net margin on 0.71× asset turns.
FY26 ROCE is 36%, recovered from a FY18 trough of 8% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 28.4% net margin × 0.71× asset turns × 1.20× balance-sheet leverage ≈ 24.2% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.03.
Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.
Vikram Thermo (India) Ltd carries ₹5.0 Cr of borrowings against ₹157 Cr of equity in FY26, a debt-to-equity of 0.03. Over 5 years borrowings went from ₹10.0 Cr to ₹5.0 Cr. Capital spending ran ₹4.0 Cr across the last 3 of those years.
FY26: borrowings of ₹5.0 Cr against equity of ₹157 Cr — a debt-to-equity of 0.03. Over 5 years borrowings went from ₹10.0 Cr to ₹5.0 Cr while capital spending ran ₹4.0 Cr in just the last 3 — the build-out is being paid for out of cash, not debt.
→ Who owns this, and are they adding or leaving? Next: the register is quiet.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
No holder of Vikram Thermo (India) Ltd moved a full percentage point over the last two years — the register is quiet. Promoters moved +0.1 points over the same window, to 66.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: +0.3 points over 8 quarters to 0.3%; Promoters: +0.1 points over 8 quarters to 66.0%.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Vikram Thermo (India) Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Vikram Thermo (India) Ltd this page | 20.0× | ₹768 Cr | Mixed | |||
| Pidilite Industries Ltd | 64.9× | ₹1.6L Cr | Consistent | |||
| Aether Industries Ltd | 83.7× | ₹18,945 Cr | Mixed | |||
| Aarti Industries Ltd | 42.1× | ₹17,331 Cr | Turning around | |||
| Anupam Rasayan India Ltd | 83.6× | ₹14,226 Cr | Improving | |||
| Privi Speciality Chemicals Ltd | 42.9× | ₹14,044 Cr | Mixed | |||
| Vinati Organics Ltd | 30.4× | ₹13,478 Cr | Topping out | |||
| Alkyl Amines Chemicals Ltd | 48.3× | ₹9,153 Cr | No read | |||
| Clean Science & Technology Ltd | 33.4× | ₹7,663 Cr | Deteriorating | |||
| Galaxy Surfactants Ltd | 24.8× | ₹6,896 Cr | Mixed | |||
| Neogen Chemicals Ltd | 159.0× | ₹5,648 Cr | Mixed | |||
| Fineotex Chemical Ltd | 37.7× | ₹4,610 Cr | Turning around | |||
| Vishnu Chemicals Ltd | 29.9× | ₹4,257 Cr | Mixed | |||
| Tatva Chintan Pharma Chem Ltd | 76.9× | ₹4,029 Cr | Turning around | |||
| Yasho Industries Ltd | 147.0× | ₹3,704 Cr | Improving | |||
| Grauer & Weil (India) Ltd | 20.4× | ₹3,354 Cr | Turning around | |||
| Panama Petrochem Ltd | 14.2× | ₹3,014 Cr | Turning around | |||
| Fineotex Chemical Ltd | 28.3× | ₹2,551 Cr | Turning around | |||
| Thirumalai Chemicals Ltd | — | ₹2,022 Cr | No read | |||
| Paushak Ltd | 41.6× | ₹1,387 Cr | Mixed | |||
| Platinum Industries Ltd | 23.9× | ₹1,251 Cr | Improving | |||
| Amines & Plasticizers Ltd | 29.3× | ₹1,069 Cr | Topping out | |||
| Sunshield Chemicals Ltd | 35.5× | ₹1,051 Cr | Turning around | |||
| Sunshield Chemicals Ltd | 29.2× | ₹720 Cr | Turning around | |||
| DMCC Speciality Chemicals Ltd | 24.9× | ₹680 Cr | Mixed | |||
| Chemcon Speciality Chemicals Ltd | 27.4× | ₹647 Cr | Improving | |||
| Amal Ltd | 23.0× | ₹628 Cr | No read | |||
| Transpek Industry Ltd | 13.0× | ₹595 Cr | Deteriorating | |||
| Kronox Lab Sciences Ltd | 20.7× | ₹573 Cr | Mixed |
Frequently asked questions
What is Vikram Thermo (India) Ltd's share price today?
Vikram Thermo (India) Ltd trades at ₹245. The company is valued at ₹768 Cr. The stock sits at 100% of its 52-week range of ₹152–₹245, +38.0% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 6 weeks in. — as of 24 July 2026.
What were Vikram Thermo (India) Ltd's latest quarterly results?
Vikram Thermo (India) Ltd reported revenue of ₹37.8 Cr and net profit of ₹8.5 Cr for the Mar 26 quarter. Revenue rose 39.3% and profit rose 109.3% year on year. Earnings per share were ₹2.71. The operating margin was 31.7%, 7.1 pp higher than a year earlier. — as of 24 July 2026.
What is Vikram Thermo (India) Ltd's revenue?
Vikram Thermo (India) Ltd reported revenue of ₹37.8 Cr in the Mar 26 quarter, +39.3% year on year. For the full FY26 fiscal year, revenue was ₹134 Cr (+6.3%). Over the last 10 years revenue compounded at 13.4% a year. — as of 24 July 2026.
What is Vikram Thermo (India) Ltd's profit?
Vikram Thermo (India) Ltd earned ₹8.5 Cr of net profit in the Mar 26 quarter, +109.3% year on year — the 3rd straight quarter of growth. Full-year FY26 profit was ₹38.0 Cr. The operating margin ran 31.7% in the latest quarter. — as of 24 July 2026.
What is Vikram Thermo (India) Ltd's market cap?
Vikram Thermo (India) Ltd's market capitalisation is ₹768 Cr at a share price of ₹245. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is Vikram Thermo (India) Ltd's P/E ratio?
Vikram Thermo (India) Ltd trades at a P/E of 20.0×, at the 88th percentile of its own 10-year range, against a long-run median of 14.3×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does Vikram Thermo (India) Ltd pay a dividend?
Yes — Vikram Thermo (India) Ltd's dividend payout was 10% of profit in FY26, and it recorded a payout in each of its last 12 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 24 July 2026.
Is Vikram Thermo (India) Ltd overvalued?
On its own history, Vikram Thermo (India) Ltd looks expensive against its own history: its P/E of 20.0× sits at the 88th percentile of its 10-year range (long-run median 14.3×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 24 July 2026.
Is Vikram Thermo (India) Ltd growing?
Yes — Vikram Thermo (India) Ltd is growing: latest-quarter revenue +39.3% year on year, profit +109.3%, and the margin +7.1 pp at 31.7%. The 10-year compound rates are 13.4% (revenue) and 25.2% (profit). The earnings engine currently reads: improving — as of 24 July 2026.
How is Vikram Thermo (India) Ltd performing?
Vikram Thermo (India) Ltd is in a confirmed uptrend, 6 weeks in. Its latest quarter's revenue rose 39.3% and profit rose 109.3% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 8 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
What stage is Vikram Thermo (India) Ltd in?
Mixed — no clean majority across the growth curves, ROCE lifting at 36.0% — the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth +39.3% latest, profit growth +109.3% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.
Is Vikram Thermo (India) Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 6 of stage 2), trading +38.0% versus its 200-day average and at 100% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is Vikram Thermo (India) Ltd beating the market?
On recent form, yes — Vikram Thermo (India) Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 8 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 4 months the stock moved +53% against the NIFTY 500's +3% — ahead of the index over the full window. — as of 24 July 2026.
Will Vikram Thermo (India) Ltd's share price go up?
This page publishes no price forecast for Vikram Thermo (India) Ltd. What it measures instead: the share price is ₹245, the price is in a confirmed uptrend 6 weeks in. Its P/E of 20.0× sits at the 88th percentile of its own 10-year range. — as of 24 July 2026.
Who owns Vikram Thermo (India) Ltd?
Promoters hold 66.0% of Vikram Thermo (India) Ltd, foreign institutions null%, domestic institutions 0.3% and the public 33.7% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 24 July 2026.
Does Vikram Thermo (India) Ltd have too much debt?
No — Vikram Thermo (India) Ltd's debt-to-equity is 0.03, and operating profit covers the interest bill 45×. FY26 borrowings were ₹5.0 Cr against equity of ₹157 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.
What is Vikram Thermo (India) Ltd's capex?
Vikram Thermo (India) Ltd spent ₹4.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹15.0 Cr, with ₹0.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is Vikram Thermo (India) Ltd's cash flow?
Vikram Thermo (India) Ltd generated ₹52.0 Cr of operating cash flow in FY26 and ₹37.0 Cr of free cash flow after ₹15.0 Cr of capital spending. Reported profit that year was ₹38.0 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is Vikram Thermo (India) Ltd's profit real cash?
Yes — over the last 3 fiscal years, 139% of Vikram Thermo (India) Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹52.0 Cr against reported profit of ₹38.0 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 24 July 2026.
Where is Vikram Thermo (India) Ltd in its business cycle?
Vikram Thermo (India) Ltd's FY26 operating margin was 40.0%, against a 12-year band of 10.0%–40.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 31.7%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the Vikram Thermo (India) Ltd story?
The sharpest disagreement: the engine is strong, but at the 88th percentile of its own range you are paying full price for it. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is Vikram Thermo (India) Ltd a stock worth studying right now?
This is not investment advice. The machine read: Vikram Thermo (India) Ltd is strength at full price. The numbers are improving — and a P/E at the 88th percentile of its own range says the market knows. The sharpest open question: whether the earnings grow into the multiple. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.