23,906
RevenueRp B
46,463
48,862
50,621
52,313
53,405
54,208
55,746
57,506
58,454
60,899
24,511
2.66%
2.89%
62
16.72
Revenue growth%
13.00
10.95
9.54
8.97
7.31
5.45
4.81
7.49
7.58
6.32
14.25
6.32
7.54
68
20.98
Gross margin%
10.94
8.46
5.85
8.36
6.70
4.64
5.25
5.83
5.86
6.67
5.47
5.83
6.26
17
27.62
Operating margin%
25.13
24.64
25.52
26.22
27.05
29.64
32.59
34.96
32.65
30.03
5.95
32.59
28.34
70
4.72
Net margin%
20.84
20.06
18.65
21.00
20.56
19.25
19.90
22.34
22.96
20.22
23.07
20.22
20.39
31
8.981
P/E ratio (avg)x
27.51
25.96
28.49
25.94
23.46
22.02
22.18
23.55
21.66
22.17
15.78
22.17
23.50
93
28.47
EV/EBITx
13.64
13.05
14.17
15.44
16.14
17.94
17.60
20.18
22.24
25.46
25.96
20.18
16.87
12
10.22
FCF yield (avg)%
28.15
27.21
28.82
28.80
29.97
32.26
29.44
31.68
29.69
30.20
12.91
30.20
29.56
91
19.21
FCF margin%
0.40
0.40
0.89
1.87
2.92
2.86
5.49
8.18
9.98
8.12
6.45
8.12
2.89
13
1.033
FCF / Net incomex
0.501
0.523
0.478
0.458
0.480
0.509
0.448
0.446
0.445
0.414
0.448
0.446
0.468
67
29.00
ROIC%
23.03
21.75
23.58
23.52
22.53
24.80
24.54
21.73
19.22
21.41
6.11
21.73
22.78
49
2.56
Return on equity%
15.29
17.30
15.73
12.90
12.70
10.46
10.43
11.18
9.29
9.69
9.32
10.43
11.94
33
21.97
Return on assets%
10.09
12.92
14.66
12.40
13.07
14.55
12.83
10.57
9.97
10.00
11.01
10.57
12.61
76
20,221
EPSRp
6,487
6,986
8,039
7,534
7,199
7,929
9,009
9,933
11,010
12,738
22,393
12.09%
6.86%
—
2.81
EPS growth%
22.90
21.92
20.36
19.19
17.17
19.85
19.48
21.25
22.68
20.85
6.93
20.85
20.61
59
32,711
Bookvalue per shRp
5,357
5,806
6,301
5,996
6,904
6,693
6,968
7,587
8,150
7,981
10,409
2.94%
4.69%
—
24,350
FCF per shareRp
33,538
32,649
32,406
35,491
39,288
39,873
39,057
45,117
48,346
54,773
12,908
6.87%
6.43%
—
13,626
Dividend per shRp
19,160
17,996
19,886
19,207
17,578
16,289
17,032
16,538
18,065
18,788
30,702
1.34%
(0.25%)
—
18.16
Div yield (avg)%
6.61
8.89
11.09
10.59
7.61
6.01
9.01
9.33
7.49
4.90
17.36
7.49
8.25
54
18.07
Payout ratio%
24.80
22.54
25.05
26.29
28.06
25.36
22.45
20.06
21.88
19.88
24.31
21.88
23.67
10
2.418
Shares (diluted)B
1.678
1.592
1.472
1.543
1.500
1.535
1.606
1.511
1.473
1.430
2.325
(0.96%)
(3.00%)
73
28.56
Buyback yield%
18.21
16.35
14.32
13.41
15.13
14.13
13.48
12.34
12.70
13.29
2.49
13.29
13.81
74
0.342
D/E ratiox
0.651
0.618
0.567
0.521
0.476
0.421
0.405
0.407
0.392
0.397
0.833
0.405
0.449
63
55,833
Enterprise valueRp B
52,530
58,222
54,130
54,744
58,488
64,054
71,309
69,189
77,980
83,860
74,426
7.47%
5.38%
37
49,622
LT debtRp B
17,426
16,280
16,767
18,419
19,504
17,165
15,374
14,704
13,139
13,331
28,678
(7.33%)
(3.02%)
86
Cost of revenue
3.03%
1.01×
Operating expenses
2.66%
0.98×
Goodwill & intangibles
16.64%
Spread over hurdle
(7.79%)