1,720
RevenueRp B
3,860
4,113
4,428
4,886
5,313
5,827
6,294
6,808
7,287
7,694
1,810
7.69%
7.80%
89
20.81
Revenue growth%
10.18
9.06
10.40
7.48
4.59
5.89
8.81
8.65
10.35
9.31
29.90
8.81
8.93
21
11.02
Gross margin%
1.64
0.40
2.75
0.54
0.40
0.67
0.40
0.40
2.48
3.24
20.39
0.67
0.60
10
28.02
Operating margin%
6.50
3.88
1.76
3.11
1.11
1.28
1.70
3.48
3.46
5.50
24.93
3.46
3.29
78
12.62
Net margin%
16.36
16.20
16.97
18.02
18.77
20.52
19.10
19.59
19.31
18.17
22.94
19.31
18.47
67
33.01
P/E ratio (avg)x
13.93
15.14
15.99
15.11
16.12
17.07
16.29
15.80
16.91
16.74
21.85
16.74
16.05
30
13.79
EV/EBITx
18.79
16.97
14.88
14.74
13.79
12.02
10.59
9.363
9.270
9.548
26.53
9.548
12.90
12
29.01
FCF yield (avg)%
8.06
7.71
5.05
7.66
9.89
8.02
9.31
7.24
5.62
4.00
10.30
7.24
7.68
70
8.71
FCF margin%
4.62
3.08
4.78
5.16
2.80
4.13
1.65
4.62
1.88
0.40
22.77
1.88
3.60
49
0.461
FCF / Net incomex
0.636
0.593
0.604
0.620
0.608
0.549
0.498
0.535
0.526
0.536
0.258
0.535
0.571
93
12.03
ROIC%
6.93
6.79
9.32
11.07
10.95
7.96
7.32
10.23
9.05
10.65
4.01
9.05
9.18
94
9.53
Return on equity%
3.93
4.48
5.10
6.66
6.90
8.18
8.59
8.66
6.82
5.13
19.70
8.18
6.74
86
26.64
Return on assets%
12.84
13.73
15.82
14.16
13.43
16.01
18.80
18.92
16.73
14.45
3.23
16.73
15.14
72
656.52
EPSRp
1,694
1,956
2,212
2,461
2,442
2,592
2,818
3,194
3,765
3,911
704.55
9.88%
10.33%
—
10.43
EPS growth%
1.22
3.76
0.87
0.40
0.40
2.56
1.80
2.89
4.20
2.24
10.88
2.56
2.02
43
519.73
Bookvalue per shRp
377.75
365.27
348.36
322.71
293.29
319.29
325.75
370.23
369.17
415.66
304.67
7.22%
1.65%
—
223.59
FCF per shareRp
362.57
380.68
342.81
342.69
333.97
310.68
347.23
331.17
342.78
354.14
806.84
1.18%
0.87%
—
465.48
Dividend per shRp
533.38
609.37
682.39
699.93
744.61
817.29
785.45
748.22
729.50
836.99
587.17
2.37%
5.34%
—
22.36
Div yield (avg)%
23.60
24.89
27.08
27.70
28.80
25.94
27.48
28.64
30.22
30.95
22.77
28.64
27.59
35
17.07
Payout ratio%
8.21
6.58
4.31
6.27
4.10
5.06
5.97
8.00
8.02
7.87
16.93
7.87
6.42
25
7.766
Shares (diluted)B
7.891
7.480
7.436
7.728
8.309
9.044
7.935
7.014
6.552
6.437
8.122
(4.98%)
(2.95%)
13
10.97
Buyback yield%
7.51
5.22
6.05
8.33
5.83
8.03
9.30
8.24
9.79
11.36
20.26
9.30
8.14
14
1.072
D/E ratiox
0.878
0.839
0.913
1.017
0.944
0.844
0.830
0.873
0.796
0.744
1.641
0.830
0.858
71
5,863
Enterprise valueRp B
4,039
3,549
3,830
4,219
3,853
3,716
3,492
3,736
4,149
4,579
8,063
3.52%
0.35%
79
5,706
LT debtRp B
5,230
5,773
5,779
6,680
6,731
6,560
6,936
6,498
7,423
8,434
7,223
4.61%
5.82%
28
Cost of revenue
7.65%
0.99×
Operating expenses
7.49%
0.97×
Cash and investments
15.73%
Spread over hurdle
(0.57%)