1,526
RevenueRp B
1,895
1,970
2,099
2,175
2,295
2,428
2,531
2,590
2,712
2,838
1,656
4.34%
4.73%
41
12.11
Revenue growth%
14.84
13.08
15.72
15.66
14.70
16.80
15.37
15.69
13.80
13.50
17.86
15.37
15.11
67
21.39
Gross margin%
29.34
29.45
26.48
24.05
23.10
22.00
21.71
24.37
22.64
20.18
5.83
22.00
23.57
55
17.07
Operating margin%
30.16
29.80
30.32
32.29
31.26
33.87
34.36
37.10
39.57
42.31
16.06
37.10
33.08
86
12.64
Net margin%
21.07
21.84
18.85
16.68
19.17
19.75
16.77
15.76
15.91
17.07
18.47
16.77
17.96
76
11.19
P/E ratio (avg)x
22.84
21.16
20.24
20.70
18.28
20.01
19.83
21.99
19.69
20.40
32.09
20.01
20.32
31
11.46
EV/EBITx
22.78
20.66
20.14
20.50
19.04
19.44
20.29
22.89
20.61
22.26
37.00
20.61
20.55
41
11.28
FCF yield (avg)%
10.25
12.99
10.38
7.63
9.50
11.19
10.32
10.61
7.98
8.62
18.18
10.32
10.29
46
29.67
FCF margin%
14.63
17.30
15.29
13.61
14.18
11.26
10.77
11.28
11.89
13.99
3.87
11.28
13.80
93
0.373
FCF / Net incomex
0.250
0.243
0.235
0.256
0.283
0.258
0.273
0.245
0.267
0.235
0.825
0.258
0.253
7
17.74
ROIC%
22.27
23.26
21.44
21.68
20.63
19.66
21.46
23.65
21.29
20.28
20.94
21.29
21.45
18
4.80
Return on equity%
7.52
5.96
8.46
7.57
6.85
7.74
7.00
7.96
9.17
10.94
24.72
7.96
7.65
74
11.69
Return on assets%
29.60
31.88
30.53
31.76
31.39
30.16
31.16
30.43
32.63
29.91
29.41
30.43
30.84
80
77.58
EPSRp
131.78
154.40
157.03
167.07
187.25
219.95
239.83
267.04
261.15
294.29
86.82
9.46%
9.55%
—
12.56
EPS growth%
12.69
11.71
8.89
7.78
5.98
7.48
8.79
10.79
8.01
9.34
24.33
8.79
8.84
12
61.43
Bookvalue per shRp
126.19
135.45
129.03
143.49
148.18
153.88
172.03
178.60
184.48
167.56
186.47
2.49%
2.60%
—
46.59
FCF per shareRp
203.12
197.16
188.32
187.79
194.86
203.91
198.15
185.23
194.77
199.40
109.56
0.46%
0.89%
—
127.60
Dividend per shRp
64.27
62.88
58.30
60.10
64.62
73.24
72.16
65.98
60.17
58.85
143.41
(1.85%)
0.28%
—
16.43
Div yield (avg)%
20.74
19.20
18.68
16.56
13.99
16.73
16.16
18.73
18.27
18.27
3.47
18.27
18.27
19
3.96
Payout ratio%
16.89
16.04
13.36
13.92
14.79
17.03
19.76
19.84
18.30
16.94
5.51
18.30
16.91
60
4.617
Shares (diluted)B
3.622
3.208
2.998
2.632
2.569
2.850
3.140
3.004
3.242
3.201
4.475
4.50%
(2.15%)
24
8.33
Buyback yield%
17.77
19.19
19.90
17.54
15.91
16.61
17.15
19.89
18.31
17.75
23.61
17.75
17.76
77
0.501
D/E ratiox
0.962
0.988
0.948
1.071
1.017
0.940
1.049
1.036
1.036
1.117
0.655
1.036
1.026
49
2,078
Enterprise valueRp B
461.1
507.1
585.7
560.3
572.5
549.6
628.9
678.1
773.4
731.9
146.4
5.04%
5.64%
88
662.0
LT debtRp B
967.9
1,042
932.6
993.1
924.8
818.5
796.0
886.2
862.6
757.6
1,994
(3.91%)
(1.61%)
12
Cost of revenue
4.42%
0.97×
Operating expenses
4.77%
1.00×
Cash and investments
14.65%
Property and equipment
14.59%
Spread over hurdle
(3.93%)