347.5
Revenue€M
402.5
404.8
401.4
413.8
406.2
411.8
406.0
415.4
416.0
413.7
374.9
0.37%
0.50%
35
16.15
Revenue growth%
23.78
22.04
19.98
21.99
19.62
22.38
24.06
25.82
26.24
24.33
22.07
24.33
23.08
62
3.83
Gross margin%
13.06
12.76
10.88
12.75
10.87
9.48
10.86
12.22
9.54
11.06
19.96
10.86
10.97
41
11.27
Operating margin%
20.05
18.88
18.49
18.30
17.15
20.05
20.79
22.64
22.03
20.03
11.99
20.79
20.04
10
19.82
Net margin%
25.68
25.72
25.09
27.22
26.76
24.32
23.86
20.90
17.90
20.33
6.35
20.90
24.71
76
8.656
P/E ratio (avg)x
33.31
32.57
38.61
42.26
44.98
43.74
51.05
56.69
58.73
61.51
20.00
56.69
44.36
8
20.48
EV/EBITx
25.34
23.12
23.51
24.51
22.91
24.66
23.52
24.90
26.14
28.56
37.59
24.90
24.58
54
7.04
FCF yield (avg)%
15.25
13.33
13.09
11.42
13.96
13.93
11.12
13.90
12.98
11.72
15.84
12.98
13.21
70
14.97
FCF margin%
21.86
22.74
22.95
23.31
23.70
23.73
23.41
20.54
20.74
21.27
5.74
21.27
22.84
83
0.626
FCF / Net incomex
1.218
1.264
1.193
1.098
1.050
1.068
1.063
1.078
1.143
1.064
0.991
1.068
1.088
13
4.09
ROIC%
29.27
29.22
29.51
26.97
24.82
26.84
27.87
28.28
28.43
29.13
6.58
28.28
28.36
40
11.78
Return on equity%
19.75
19.76
20.30
19.26
17.99
18.83
18.32
17.44
14.58
11.97
6.78
17.44
18.57
66
8.34
Return on assets%
10.52
8.74
7.79
8.44
8.18
8.51
7.30
7.73
6.40
9.26
4.54
7.73
8.31
81
5.11
EPS€
12.52
14.51
15.92
16.75
19.56
22.36
21.64
23.52
22.96
21.84
5.55
2.22%
7.12%
—
4.63
EPS growth%
12.06
14.78
13.83
10.84
13.11
10.15
8.79
9.49
7.62
5.26
13.83
8.79
10.49
47
6.67
Bookvalue per sh€
6.26
6.56
6.63
6.49
6.65
7.53
8.20
8.54
8.97
10.18
7.76
8.90%
4.82%
—
7.19
FCF per share€
2.06
2.06
1.88
1.97
1.84
1.71
1.56
1.57
1.55
1.60
7.96
(2.81%)
(2.83%)
—
8.98
Dividend per sh€
2.51
2.33
2.39
2.56
2.67
2.43
2.51
2.36
2.48
2.51
7.35
(1.26%)
0.31%
—
23.67
Div yield (avg)%
5.41
7.72
10.59
13.14
11.48
9.82
10.01
8.09
7.34
9.06
25.90
9.06
9.44
59
16.75
Payout ratio%
24.55
26.88
26.69
25.84
28.61
30.79
30.34
27.78
29.14
26.57
23.40
29.14
27.33
32
51.77
Shares (diluted)M
84.11
79.26
88.41
83.66
80.02
80.86
90.26
103.8
119.2
120.1
50.20
8.46%
3.98%
81
24.70
Buyback yield%
23.88
21.94
22.56
20.61
20.46
19.77
21.53
19.79
21.89
20.02
19.47
20.02
21.07
20
0.753
D/E ratiox
1.585
1.860
2.234
2.643
2.879
2.900
2.956
3.288
3.341
3.728
1.308
3.288
2.890
44
210.9
Enterprise value€M
257.8
254.5
260.6
301.6
344.7
358.9
346.5
376.0
434.8
478.2
161.1
6.77%
7.41%
68
71.84
LT debt€M
42.96
46.84
49.67
49.29
49.27
48.87
53.16
62.99
68.67
80.63
238.6
10.35%
6.69%
66
Revenue
€413.7M
0.50%
1.00×
Cost of revenue
€232.7M
0.85%
1.03×
Operating expenses
€102.3M
0.28%
0.98×
Cash and investments
15.38%
Spread over hurdle
(0.70%)