3,458
RevenueRp B
1,588
1,733
1,925
2,050
2,240
2,418
2,647
2,857
3,139
3,422
3,597
8.84%
8.97%
52
8.74
Revenue growth%
13.57
14.19
15.31
17.91
18.43
17.92
19.39
19.91
20.71
21.33
2.88
19.91
18.17
71
21.84
Gross margin%
0.40
1.71
4.22
5.92
4.44
4.38
6.28
8.75
5.84
8.74
28.99
6.28
5.14
16
20.54
Operating margin%
25.85
25.47
26.91
28.36
31.15
31.59
29.95
31.55
31.45
32.38
24.98
31.55
30.55
51
27.80
Net margin%
6.68
4.63
6.74
9.48
9.43
7.38
5.07
7.72
6.23
7.91
5.89
7.38
7.06
45
23.45
P/E ratio (avg)x
8.038
7.570
7.789
8.252
8.114
7.562
7.556
7.516
7.394
8.547
19.36
7.556
7.680
25
25.53
EV/EBITx
66.88
71.70
80.70
90.26
87.61
98.45
108.9
122.8
133.3
135.9
29.84
122.8
94.35
93
25.39
FCF yield (avg)%
26.32
27.58
27.98
29.26
28.47
29.09
27.11
27.01
27.51
24.89
24.51
27.11
27.54
27
14.06
FCF margin%
4.55
6.60
4.42
3.04
1.63
3.13
1.38
0.40
0.40
3.05
13.48
1.38
3.04
46
0.653
FCF / Net incomex
0.976
1.063
1.114
1.159
1.398
1.667
1.743
1.732
1.857
1.825
1.101
1.743
1.533
40
16.21
ROIC%
20.46
20.31
18.50
20.59
17.98
16.24
17.92
16.40
15.31
16.08
10.14
16.24
17.95
37
7.82
Return on equity%
11.32
11.23
9.70
7.88
10.78
13.70
15.15
12.96
11.11
12.00
18.68
12.96
11.28
94
15.63
Return on assets%
21.75
21.65
18.77
19.68
22.42
19.48
17.31
18.80
19.39
21.36
7.69
19.39
19.58
36
186.62
EPSRp
105.11
103.12
92.67
86.32
84.94
81.77
81.67
88.64
97.10
108.51
192.68
5.02%
1.28%
—
12.28
EPS growth%
11.98
10.78
11.48
12.32
10.65
8.14
10.52
8.09
5.46
3.19
24.74
8.09
10.59
94
189.92
Bookvalue per shRp
39.61
43.67
49.31
54.24
53.17
51.09
52.68
59.01
66.48
67.30
93.40
4.83%
5.48%
—
50.84
FCF per shareRp
196.05
190.21
218.02
226.18
242.55
254.80
254.50
277.14
270.91
267.86
34.59
2.00%
2.99%
—
144.57
Dividend per shRp
81.50
79.25
81.42
81.50
86.59
99.13
104.37
107.76
123.25
130.83
26.49
8.60%
4.99%
—
9.21
Div yield (avg)%
19.57
18.00
18.30
21.11
20.50
21.74
22.22
21.36
19.49
17.24
9.78
21.36
20.04
73
17.55
Payout ratio%
14.11
15.64
16.23
17.35
17.51
16.42
17.30
19.26
17.91
19.35
13.07
17.91
17.33
67
12.97
Shares (diluted)B
16.46
17.93
17.97
19.53
19.91
20.29
22.38
22.21
20.83
21.12
13.08
1.18%
3.69%
51
23.94
Buyback yield%
16.42
13.73
16.03
16.25
14.73
15.27
17.87
20.49
21.96
20.93
18.38
20.49
16.33
80
0.941
D/E ratiox
0.327
0.283
0.259
0.265
0.250
0.217
0.224
0.229
0.203
0.207
0.804
0.217
0.240
84
2,235
Enterprise valueRp B
3,792
4,056
4,447
4,953
5,307
5,604
6,269
6,799
6,231
6,248
2,676
3.32%
5.91%
40
1,893
LT debtRp B
3,157
3,684
3,941
3,804
4,359
4,826
4,743
5,216
5,387
6,292
2,110
7.61%
7.57%
76
Cost of revenue
9.04%
1.01×
Operating expenses
8.87%
0.99×
Property and equipment
17.03%
Spread over hurdle
(2.04%)