1.549
Revenue€B
1.277
1.373
1.482
1.586
1.723
1.827
1.925
2.071
2.223
2.341
1.587
6.32%
6.78%
44
23.59
Revenue growth%
26.31
26.03
24.03
24.91
22.31
21.92
23.36
26.08
25.68
27.68
8.29
25.68
25.29
72
17.54
Gross margin%
14.60
16.65
14.66
13.80
14.54
12.29
10.96
8.35
10.11
10.23
13.74
10.23
13.05
8
24.84
Operating margin%
16.14
18.87
18.64
20.09
20.51
20.57
18.15
19.86
18.62
21.13
24.11
19.86
19.36
5
14.30
Net margin%
3.61
1.29
4.14
4.09
2.81
4.21
7.05
8.02
5.99
7.58
8.32
7.05
4.18
11
13.25
P/E ratio (avg)x
12.39
12.55
11.38
11.20
11.23
10.32
11.18
12.34
11.69
11.94
8.910
11.69
11.53
25
34.61
EV/EBITx
58.02
58.34
58.90
60.74
60.45
68.02
66.86
73.63
75.86
75.58
17.39
73.63
63.80
10
26.04
FCF yield (avg)%
9.25
9.13
10.05
10.40
13.39
11.61
14.29
15.17
13.04
14.37
5.43
14.29
12.33
55
14.75
FCF margin%
15.25
12.63
12.53
10.80
9.23
11.02
10.18
8.15
8.04
10.59
9.45
10.18
10.69
24
1.535
FCF / Net incomex
0.997
1.098
1.221
1.266
1.430
1.651
1.883
2.294
2.728
2.983
0.191
2.294
1.541
45
29.81
ROIC%
3.91
2.06
0.40
0.40
1.06
0.66
0.79
0.40
0.40
0.40
22.95
0.40
0.53
48
25.24
Return on equity%
19.57
22.35
24.26
23.49
20.65
20.04
21.54
21.17
23.98
24.19
25.65
21.54
21.94
56
8.40
Return on assets%
13.38
11.93
14.04
15.98
18.71
15.96
16.92
16.40
18.07
20.75
4.61
16.92
16.19
91
1.49
EPS€
6.84
6.48
6.25
6.79
7.08
7.77
8.07
7.29
6.47
7.07
1.60
(0.03%)
0.76%
—
14.42
EPS growth%
8.69
8.70
9.50
7.62
10.07
9.25
11.28
10.89
12.50
14.73
5.53
11.28
9.79
35
1.49
Bookvalue per sh€
1.83
2.13
2.26
2.40
2.39
2.69
3.25
3.46
3.87
4.16
1.54
11.73%
9.31%
—
2.54
FCF per share€
1.98
2.08
2.19
2.34
2.58
2.43
2.67
2.45
2.58
2.85
5.23
2.00%
4.84%
—
0.87
Dividend per sh€
8.31
9.17
10.83
10.52
10.63
10.21
11.26
11.94
12.73
12.60
2.29
3.47%
5.23%
—
3.60
Div yield (avg)%
17.99
17.55
18.57
21.55
21.52
22.92
24.18
23.88
22.71
24.66
21.42
23.88
22.13
20
4.17
Payout ratio%
13.11
13.51
12.84
15.68
15.17
13.32
13.65
13.79
10.80
9.43
27.32
13.32
13.41
82
114.1
Shares (diluted)M
191.5
212.2
233.4
249.5
250.3
265.5
311.6
362.8
397.4
436.3
114.4
11.75%
9.58%
78
13.25
Buyback yield%
16.65
17.10
15.68
13.35
15.01
16.55
15.12
16.23
16.71
16.05
10.31
16.23
16.14
9
0.534
D/E ratiox
1.334
1.236
1.350
1.441
1.333
1.175
1.223
1.130
1.191
1.266
0.445
1.191
1.251
61
0.568
Enterprise value€B
1.423
1.573
1.802
1.710
1.854
1.931
2.169
2.411
2.413
2.627
0.371
7.22%
6.24%
64
0.358
LT debt€B
2.523
2.456
2.688
2.797
2.705
2.749
2.766
2.497
2.782
3.038
0.865
2.35%
1.86%
58
Revenue
€2.341B
6.78%
1.00×
Cost of revenue
€1.639B
6.78%
1.00×
Operating expenses
€473.6M
7.29%
1.05×
Property and equipment
17.15%
Spread over hurdle
(5.37%)