2.402
Revenue€B
1.464
1.554
1.592
1.635
1.708
1.791
1.824
1.871
1.942
2.015
2.547
3.37%
3.68%
36
18.01
Revenue growth%
14.09
14.09
16.56
18.60
17.68
18.67
20.72
21.38
20.74
22.94
9.01
20.74
18.64
83
24.33
Gross margin%
27.56
26.70
23.92
21.66
24.46
25.20
25.90
25.50
24.72
23.90
23.76
25.20
24.96
91
17.88
Operating margin%
12.98
13.51
12.83
14.52
15.10
13.25
15.82
12.90
10.02
10.93
5.34
12.90
13.11
28
9.60
Net margin%
30.22
28.57
30.95
28.95
31.27
31.01
31.13
31.41
30.13
31.72
2.79
31.13
30.98
8
22.43
P/E ratio (avg)x
26.28
27.15
32.44
34.90
40.52
46.55
48.31
49.42
58.42
66.68
10.25
49.42
43.53
30
18.53
EV/EBITx
38.81
36.30
37.45
35.28
35.93
36.12
36.58
41.69
44.40
47.88
14.40
41.69
37.02
8
4.51
FCF yield (avg)%
10.11
8.72
6.47
9.28
10.13
10.81
8.54
10.22
12.98
14.45
27.68
10.81
10.12
87
7.97
FCF margin%
8.68
6.47
8.27
7.92
7.19
4.62
5.00
6.24
4.47
7.40
11.21
5.00
6.83
72
1.611
FCF / Net incomex
2.884
2.874
2.869
2.745
2.685
2.829
2.640
2.685
3.108
3.238
0.542
2.829
2.849
10
29.64
ROIC%
16.22
13.55
16.34
18.02
18.17
19.00
17.39
17.70
18.43
20.49
21.35
18.43
17.86
23
8.20
Return on equity%
23.73
24.95
26.56
28.13
28.65
27.91
27.89
30.38
29.31
27.50
16.71
27.91
27.90
14
8.99
Return on assets%
15.98
15.88
17.28
16.50
13.90
12.53
15.00
12.94
11.63
12.41
16.20
12.53
14.45
84
1.09
EPS€
2.15
2.04
2.14
2.33
2.64
2.55
2.82
2.86
3.00
3.50
1.18
5.78%
6.30%
—
2.20
EPS growth%
18.74
16.74
15.64
12.83
10.22
11.54
11.62
12.83
9.86
6.87
6.62
11.54
12.22
69
0.95
Bookvalue per sh€
0.99
0.96
1.08
1.18
1.12
1.12
1.20
1.34
1.49
1.62
1.61
7.77%
5.49%
—
0.78
FCF per share€
1.99
2.02
1.90
1.74
1.72
1.65
1.73
1.84
1.60
1.61
1.33
(1.31%)
(2.23%)
—
0.68
Dividend per sh€
0.63
0.64
0.63
0.73
0.71
0.79
0.83
0.89
0.96
0.98
0.98
6.72%
4.10%
—
4.01
Div yield (avg)%
28.85
30.24
31.50
33.25
32.32
33.59
32.88
35.18
33.63
34.81
17.83
33.63
33.07
25
8.87
Payout ratio%
25.88
27.88
30.15
29.95
31.01
30.94
28.21
27.49
28.19
29.51
3.82
28.21
28.86
83
390.3
Shares (diluted)M
502.1
527.9
567.8
664.3
776.5
862.7
817.9
893.4
939.0
916.0
397.1
3.36%
7.88%
22
16.65
Buyback yield%
9.85
11.25
12.47
14.01
14.90
14.59
13.51
13.81
12.75
14.56
4.54
13.81
13.66
66
1.492
D/E ratiox
1.170
1.228
1.270
1.390
1.292
1.463
1.672
1.899
2.178
2.054
1.047
1.899
1.427
65
1.417
Enterprise value€B
3.788
3.797
4.611
5.154
5.193
6.311
6.187
6.530
7.123
7.970
0.346
8.95%
8.51%
90
1.182
LT debt€B
2.109
2.321
2.436
2.824
3.005
3.548
3.704
4.185
4.656
5.547
0.630
13.04%
11.74%
79
Revenue
€2.015B
3.68%
1.00×
Cost of revenue
€1.411B
3.68%
1.00×
Operating expenses
€409.9M
3.99%
1.03×
Property and equipment
20.57%
Goodwill & intangibles
15.94%
Spread over hurdle
(3.49%)