2.368
Revenue€M
14.55
15.42
16.50
17.49
18.36
19.62
20.60
21.90
23.21
24.69
2.556
6.10%
5.86%
71
3.24
Revenue growth%
2.74
3.69
6.02
3.07
0.78
1.31
1.71
0.40
0.40
1.24
6.24
1.24
1.51
79
18.59
Gross margin%
26.67
28.72
30.13
27.38
24.56
24.73
21.75
21.79
19.96
18.93
15.51
21.75
24.64
88
29.40
Operating margin%
26.98
26.82
24.64
27.62
24.95
27.26
28.09
30.09
30.70
32.75
6.06
30.09
27.44
70
20.41
Net margin%
29.83
28.49
29.79
28.20
29.23
26.66
24.30
24.91
24.06
23.53
9.13
24.30
27.43
67
21.72
P/E ratio (avg)x
22.12
22.27
21.71
21.27
23.31
23.95
27.16
28.89
30.24
34.05
19.58
28.89
23.63
12
27.18
EV/EBITx
31.72
32.98
34.41
35.66
40.73
37.48
36.34
37.85
42.91
42.98
8.501
37.85
36.91
83
17.91
FCF yield (avg)%
18.71
19.40
22.30
23.83
22.48
23.01
20.69
21.39
21.17
20.44
26.72
21.17
21.28
38
21.82
FCF margin%
21.35
22.69
23.28
24.45
26.84
26.85
26.54
23.95
24.73
25.68
10.21
25.68
24.59
18
1.216
FCF / Net incomex
2.189
2.216
2.490
2.763
2.910
3.046
3.221
3.396
3.762
4.103
1.242
3.396
2.978
25
14.59
ROIC%
22.83
22.81
20.95
20.87
21.57
20.10
20.53
22.12
24.92
24.80
26.84
22.12
21.85
46
12.17
Return on equity%
14.00
16.34
15.05
12.09
14.27
14.61
13.25
14.40
14.75
16.78
17.89
14.61
14.50
12
18.82
Return on assets%
18.85
19.14
19.11
18.53
17.21
15.64
16.42
14.11
13.05
15.92
11.62
15.64
16.81
80
0.02
EPS€
0.01
0.01
0.01
0.01
0.02
0.02
0.02
0.02
0.02
0.02
0.02
(0.14%)
0.33%
—
6.48
EPS growth%
24.25
26.54
28.62
26.89
27.27
24.60
23.80
23.70
23.89
21.20
4.60
23.80
24.43
30
0.02
Bookvalue per sh€
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.01
—
(9.22%)
(4.61%)
—
0.01
FCF per share€
0.02
0.02
0.02
0.02
0.02
0.03
0.03
0.04
0.04
0.05
0.02
15.68%
13.19%
—
0.02
Dividend per sh€
0.03
0.03
0.03
0.03
0.03
0.04
0.04
0.04
0.05
0.05
0.02
9.17%
7.89%
—
23.21
Div yield (avg)%
23.34
23.89
25.31
25.44
27.76
25.37
28.17
27.33
29.47
30.07
13.69
28.17
26.38
93
22.76
Payout ratio%
26.45
26.82
28.88
25.89
27.03
25.21
27.58
27.28
27.24
27.00
16.89
27.24
27.02
5
245.7
Shares (diluted)M
401.7
441.2
455.8
473.5
502.1
515.3
545.9
655.0
707.6
822.6
244.9
10.38%
7.51%
40
13.45
Buyback yield%
18.83
18.94
21.41
23.59
21.60
20.69
20.54
20.46
22.69
24.75
8.45
20.69
21.05
19
1.110
D/E ratiox
1.051
0.921
0.819
0.857
0.815
0.729
0.754
0.723
0.663
0.592
1.689
0.723
0.785
32
5.019
Enterprise value€M
19.85
20.27
18.88
20.81
21.67
24.10
23.93
25.18
27.57
25.89
10.72
3.63%
2.19%
32
3.875
LT debt€M
26.20
31.39
33.67
39.08
41.67
48.69
55.90
57.05
61.27
60.42
17.90
7.71%
9.66%
28
Revenue
€24.69M
5.86%
1.00×
Cost of revenue
€15.79M
5.72%
0.99×
Operating expenses
€5.483M
5.91%
1.00×
Spread over hurdle
(3.75%)