Well, it actually converts an analog value into a Time Proportional Output, which can potentially have two different time-proportional digital outputs (in a typical application, they might be "Heating" and "Cooling").
To go the other way, you would have to totalize the on-time of a digital input value for a certain period, and then calculate the totalized time / period time to derive the on-time percentage. That can be done with 2 (or 3, for split range) timers. The totalizing timers should be Retentive types, and the cycle timer should be free running.