451.2
Revenue€M
284.6
301.1
325.3
347.2
364.9
386.0
412.0
443.7
467.8
497.7
469.1
6.41%
6.50%
60
4.15
Revenue growth%
27.17
27.54
27.63
30.13
28.68
29.33
31.25
31.92
32.91
31.15
8.60
31.25
29.73
71
14.71
Gross margin%
0.52
1.09
0.40
2.05
2.57
0.77
0.40
2.48
0.40
0.51
13.56
0.51
0.64
11
6.44
Operating margin%
9.03
7.49
6.55
8.23
10.25
8.46
7.53
8.88
10.32
8.93
2.70
8.88
8.67
34
19.06
Net margin%
24.64
25.44
26.65
25.77
26.92
25.98
26.63
28.83
27.33
27.59
26.52
27.33
26.64
68
14.30
P/E ratio (avg)x
9.767
9.943
10.42
10.85
12.82
13.26
12.76
13.91
15.91
17.01
27.72
13.91
12.79
33
29.04
EV/EBITx
37.58
38.05
36.30
35.66
33.35
37.24
35.56
37.93
36.12
41.80
35.71
37.24
36.77
46
29.50
FCF yield (avg)%
10.56
9.98
8.03
5.77
3.35
6.15
8.37
6.37
7.31
9.04
13.42
7.31
7.67
21
9.75
FCF margin%
18.73
16.99
14.27
15.63
15.58
18.09
18.48
16.63
18.53
21.08
9.85
18.48
17.54
66
0.356
FCF / Net incomex
0.727
0.726
0.713
0.785
0.814
0.862
0.812
0.775
0.801
0.881
0.437
0.812
0.793
31
13.19
ROIC%
17.59
15.40
14.50
13.18
13.39
11.09
12.39
9.52
10.31
12.54
14.23
11.09
12.86
11
21.67
Return on equity%
2.72
0.60
0.40
3.07
0.56
0.99
2.57
0.49
2.11
4.29
22.63
2.11
1.55
11
4.80
Return on assets%
20.99
23.06
21.66
20.66
21.71
19.74
16.87
17.53
19.45
18.53
13.18
18.53
20.20
65
4.80
EPS€
2.48
2.38
2.29
2.23
2.13
2.49
2.84
3.20
3.02
3.06
5.02
7.50%
2.34%
—
21.55
EPS growth%
0.40
3.15
4.97
6.03
7.31
6.29
9.21
7.50
7.33
9.48
7.95
7.50
6.80
68
1.09
Bookvalue per sh€
2.07
1.77
1.89
2.03
2.16
2.03
2.16
2.08
1.89
1.81
2.63
(3.51%)
(2.09%)
—
4.71
FCF per share€
3.06
3.53
3.69
3.91
3.86
4.25
5.12
5.46
5.37
6.12
1.09
9.65%
9.04%
—
3.47
Dividend per sh€
1.91
2.17
2.23
2.30
2.43
2.64
2.90
3.27
3.29
3.14
1.78
5.22%
6.47%
—
10.23
Div yield (avg)%
33.31
35.57
34.38
34.57
36.34
35.12
32.51
32.87
33.44
34.33
9.40
33.44
34.36
74
26.63
Payout ratio%
12.53
13.61
12.47
12.21
13.43
15.11
13.82
12.05
14.88
13.40
23.00
13.82
13.41
60
78.72
Shares (diluted)M
111.1
117.8
133.2
145.8
162.1
153.5
153.0
176.8
200.6
228.2
75.53
7.09%
6.93%
65
16.02
Buyback yield%
19.52
22.29
25.17
25.86
25.25
23.05
24.55
27.04
25.34
26.67
5.06
25.34
25.21
90
1.217
D/E ratiox
1.732
2.021
2.343
2.776
3.193
3.495
3.515
3.583
4.105
4.336
1.209
3.583
3.344
39
109.3
Enterprise value€M
593.8
547.5
588.2
573.0
533.9
580.1
563.1
550.8
585.0
636.0
521.1
3.56%
0.49%
30
384.5
LT debt€M
148.9
149.4
172.4
189.3
189.8
190.7
187.2
195.0
212.5
214.0
83.42
2.43%
4.18%
64
Revenue
€497.7M
6.50%
1.00×
Cost of revenue
€221.4M
6.78%
1.03×
Operating expenses
€123.8M
6.48%
1.00×
Cash and investments
14.09%
Spread over hurdle
(1.78%)