2,514
RevenueRp B
4,125
4,334
4,752
5,111
5,413
5,851
6,202
6,597
6,935
7,450
2,664
6.59%
6.70%
18
9.55
Revenue growth%
6.36
3.61
5.12
4.61
5.40
7.00
8.05
11.03
13.04
13.55
2.94
11.03
6.68
94
2.34
Gross margin%
19.85
20.24
21.66
23.12
23.67
22.41
24.61
26.92
24.90
23.00
7.98
24.61
23.06
6
5.50
Operating margin%
31.29
28.63
27.03
25.60
24.27
24.92
24.40
22.06
22.71
23.35
22.92
23.35
24.66
43
7.33
Net margin%
18.19
18.11
17.15
14.45
14.48
16.45
16.90
18.27
17.82
15.01
5.57
16.90
17.03
38
31.96
P/E ratio (avg)x
29.48
31.88
30.24
30.43
31.82
29.79
27.20
30.39
31.04
31.55
9.463
30.39
30.41
55
9.899
EV/EBITx
12.31
12.92
11.57
12.36
12.18
12.82
13.60
12.18
13.15
11.80
19.86
12.82
12.33
21
22.24
FCF yield (avg)%
21.43
21.02
19.49
19.56
22.43
25.19
25.22
23.71
21.34
20.70
20.96
23.71
21.38
61
17.37
FCF margin%
16.44
17.89
15.38
18.36
16.65
15.36
18.08
19.84
19.77
20.42
16.51
19.77
17.99
46
0.486
FCF / Net incomex
1.122
1.249
1.301
1.469
1.560
1.676
1.839
1.906
1.768
1.863
0.791
1.839
1.618
33
7.18
ROIC%
15.65
15.01
13.37
13.51
13.18
10.83
11.92
14.02
14.61
16.24
22.75
14.02
13.76
40
22.18
Return on equity%
9.77
9.79
9.64
6.72
4.60
5.53
4.30
5.35
4.39
1.52
6.27
4.39
5.44
93
16.04
Return on assets%
23.03
25.40
23.02
20.88
20.26
19.27
21.70
21.43
18.56
19.81
13.90
19.81
21.16
50
870.35
EPSRp
531.42
533.48
545.58
603.61
653.39
694.91
787.30
884.18
972.79
1,008
960.39
9.05%
6.78%
—
6.64
EPS growth%
13.14
12.91
12.91
11.26
10.86
10.12
12.41
12.40
11.48
13.60
2.30
12.40
12.41
31
742.33
Bookvalue per shRp
840.48
740.36
699.74
728.92
704.66
701.01
626.50
617.86
636.55
546.27
459.76
(4.96%)
(5.22%)
—
587.09
FCF per shareRp
744.30
859.26
868.11
899.38
978.98
995.24
1,108
1,161
1,130
1,306
425.84
5.93%
7.16%
—
406.01
Dividend per shRp
476.53
541.71
643.79
637.06
680.71
661.13
740.71
776.89
786.39
780.57
649.83
2.78%
6.82%
—
7.42
Div yield (avg)%
18.26
19.73
19.55
20.64
18.39
20.25
18.22
16.90
16.16
17.97
2.86
17.97
18.32
19
17.82
Payout ratio%
4.57
1.59
3.18
1.39
2.54
0.43
0.40
1.03
3.48
2.87
2.63
1.03
2.06
11
1.954
Shares (diluted)B
1.643
1.463
1.423
1.301
1.326
1.278
1.331
1.210
1.194
1.065
1.908
(4.30%)
(4.24%)
69
23.58
Buyback yield%
10.90
9.03
6.13
5.15
4.00
4.71
6.09
7.98
6.96
6.38
14.35
6.38
6.25
92
1.668
D/E ratiox
0.641
0.739
0.801
0.889
0.890
1.026
1.199
1.383
1.506
1.743
1.497
1.383
0.958
36
3,638
Enterprise valueRp B
6,242
6,164
6,780
6,957
7,339
8,270
7,705
7,860
7,667
7,759
3,526
1.12%
3.57%
56
2,075
LT debtRp B
3,555
3,051
2,983
2,793
3,001
2,875
2,836
2,896
2,888
3,083
1,572
0.54%
(1.65%)
83
Cost of revenue
6.72%
1.00×
Operating expenses
6.68%
1.00×
Goodwill & intangibles
13.37%
Spread over hurdle
(5.51%)