510.5
Revenue€M
354.8
375.8
415.0
451.6
484.0
512.7
548.1
605.4
659.7
697.6
530.1
7.59%
7.71%
53
15.41
Revenue growth%
27.20
25.98
27.13
30.05
32.79
35.23
37.19
36.75
38.44
37.49
6.75
37.19
34.01
36
5.44
Gross margin%
18.16
17.34
18.16
18.65
16.06
17.33
17.36
17.86
16.42
16.24
21.22
17.33
17.35
52
12.38
Operating margin%
17.79
16.14
18.02
17.60
16.88
14.14
11.26
11.43
11.55
11.03
13.44
11.43
15.14
46
14.33
Net margin%
25.70
26.37
28.17
29.02
28.49
31.10
32.90
30.83
30.28
31.09
29.58
31.09
29.65
18
24.90
P/E ratio (avg)x
18.71
18.51
21.32
25.49
30.60
30.07
29.31
31.31
33.42
35.47
22.54
31.31
29.69
40
33.23
EV/EBITx
23.22
22.29
23.75
24.68
25.84
28.01
33.04
34.29
33.10
33.76
34.22
33.10
26.92
41
2.02
FCF yield (avg)%
16.60
14.22
15.42
16.96
19.93
18.19
18.87
16.13
17.05
15.13
13.07
17.05
16.78
67
27.26
FCF margin%
21.09
23.32
23.38
23.12
23.83
24.96
22.95
20.82
19.43
19.13
18.03
20.82
23.04
13
0.786
FCF / Net incomex
1.050
1.198
1.253
1.177
1.283
1.443
1.552
1.816
2.110
2.235
1.263
1.816
1.363
63
25.97
ROIC%
27.05
28.91
31.61
29.45
29.97
28.79
26.49
26.13
28.43
30.08
10.49
28.43
28.85
11
10.94
Return on equity%
26.20
26.40
26.88
24.82
27.03
26.75
28.89
26.09
25.88
22.92
22.21
26.09
26.30
48
16.60
Return on assets%
3.97
4.41
1.70
0.95
0.46
0.40
0.44
1.51
1.98
0.55
26.21
0.55
1.23
30
8.14
EPS€
8.82
10.41
12.42
13.78
14.54
16.92
20.34
23.48
24.10
25.28
8.71
11.70%
12.38%
—
27.17
EPS growth%
25.12
22.74
24.20
25.03
24.39
25.21
26.51
27.69
27.59
29.31
24.12
27.59
25.17
62
22.42
Bookvalue per sh€
32.65
29.85
31.50
32.24
32.89
30.53
27.64
29.19
29.07
30.00
15.30
(1.82%)
(0.46%)
—
5.34
FCF per share€
17.70
19.81
20.88
20.01
20.51
23.36
23.53
23.22
22.15
20.80
22.94
0.28%
2.71%
—
22.73
Dividend per sh€
25.23
28.83
31.17
30.26
32.11
34.60
32.44
35.60
35.45
33.52
10.68
0.86%
2.58%
—
25.19
Div yield (avg)%
0.40
0.40
0.40
0.80
3.60
3.27
5.00
5.80
3.30
5.81
10.43
5.00
3.29
54
12.27
Payout ratio%
20.99
19.52
18.16
19.09
21.20
20.74
20.53
17.84
18.00
16.84
9.52
18.00
19.30
29
25.84
Shares (diluted)M
28.86
26.59
25.61
23.69
25.22
24.99
26.53
27.11
27.18
30.44
25.63
3.84%
1.26%
23
25.70
Buyback yield%
3.18
0.58
0.95
1.74
2.45
3.37
3.90
5.98
7.84
5.76
22.15
5.76
3.27
63
1.650
D/E ratiox
0.559
0.579
0.568
0.553
0.614
0.621
0.602
0.611
0.666
0.637
1.566
0.621
0.607
6
667.9
Enterprise value€M
275.4
266.5
302.8
320.3
347.4
374.8
393.4
450.3
473.0
497.6
639.0
7.45%
6.96%
83
37.48
LT debt€M
236.6
226.5
247.1
232.4
257.3
266.1
281.7
290.0
265.9
275.3
303.2
1.36%
0.61%
6
Revenue
€697.6M
7.71%
1.00×
Cost of revenue
€476.8M
7.74%
1.00×
Operating expenses
€85.01M
8.11%
1.04×
Spread over hurdle
(2.00%)