3,245
RevenueRp B
17,828
18,769
19,716
21,206
21,908
22,802
23,985
25,243
26,414
27,478
3,365
4.64%
5.18%
47
26.50
Revenue growth%
23.89
22.83
22.83
25.47
24.77
23.52
22.84
24.20
25.78
23.93
10.77
23.93
23.91
62
26.35
Gross margin%
23.75
22.39
23.19
21.44
23.35
26.08
25.26
28.20
29.89
27.80
8.69
27.80
24.50
69
16.11
Operating margin%
6.64
7.19
8.00
7.81
5.62
8.26
6.33
8.76
5.87
7.95
23.96
7.95
7.50
39
16.47
Net margin%
24.53
23.41
24.23
25.13
23.39
25.76
27.21
25.26
24.69
22.94
28.71
25.26
24.61
39
13.31
P/E ratio (avg)x
18.00
16.51
16.85
15.87
17.86
18.13
20.60
22.28
24.46
22.76
31.14
22.28
18.06
64
33.91
EV/EBITx
46.70
46.24
54.37
62.03
71.38
80.80
86.31
87.72
91.82
102.4
33.20
87.72
76.09
39
26.72
FCF yield (avg)%
9.26
12.22
13.76
12.95
14.24
11.89
13.16
15.62
13.85
12.59
13.58
13.16
13.05
94
15.58
FCF margin%
17.11
16.24
16.91
14.06
12.09
10.87
12.96
10.59
9.01
11.30
4.82
10.87
12.52
13
1.793
FCF / Net incomex
0.935
0.839
0.845
0.927
0.952
0.974
0.900
0.973
0.895
0.954
0.809
0.954
0.931
38
6.98
ROIC%
11.38
10.69
13.44
11.30
10.97
9.56
7.04
9.80
6.95
9.09
4.16
9.09
10.25
18
12.74
Return on equity%
22.98
24.24
21.65
23.14
22.51
23.11
22.24
20.32
20.96
21.99
12.45
21.99
22.37
27
4.14
Return on assets%
19.74
22.46
21.94
20.46
20.78
17.81
15.64
17.17
16.97
15.78
4.24
16.97
18.78
35
163.98
EPSRp
138.65
150.10
164.89
173.86
181.88
188.44
201.60
205.78
237.26
235.90
183.58
5.34%
6.80%
—
24.22
EPS growth%
21.91
22.24
21.09
20.77
18.00
16.55
19.20
21.52
20.01
21.23
8.40
20.01
20.93
15
25.71
Bookvalue per shRp
119.64
138.73
136.62
152.25
150.04
153.42
180.73
210.04
207.76
222.14
136.22
8.17%
6.61%
—
137.41
FCF per shareRp
124.37
141.78
139.36
148.44
174.09
202.04
211.89
201.08
204.87
216.65
140.73
4.47%
6.41%
—
147.24
Dividend per shRp
126.05
125.60
133.27
133.18
134.92
135.94
145.18
147.27
148.36
146.16
177.72
1.61%
2.62%
—
17.74
Div yield (avg)%
9.86
9.82
12.44
13.81
16.02
17.05
16.46
15.40
16.28
17.44
16.43
16.46
15.71
51
8.71
Payout ratio%
20.56
17.71
16.35
19.24
19.83
21.19
18.22
15.99
15.05
12.78
9.13
15.99
17.97
47
49.20
Shares (diluted)B
35.25
32.78
32.45
29.95
27.98
29.83
32.11
27.85
27.34
23.60
48.12
(3.35%)
(4.85%)
42
4.16
Buyback yield%
16.49
15.21
15.77
14.98
13.06
10.80
8.65
9.52
10.76
10.82
7.57
10.76
11.94
23
0.166
D/E ratiox
0.440
0.458
0.485
0.479
0.444
0.430
0.463
0.484
0.496
0.484
0.385
0.484
0.471
62
21,896
Enterprise valueRp B
17,648
15,856
17,680
15,781
16,595
16,070
14,645
16,106
15,690
14,918
17,177
(2.11%)
(1.09%)
65
5,863
LT debtRp B
18,554
18,552
19,631
17,755
19,675
19,131
17,518
18,865
18,406
17,419
5,130
(2.41%)
(0.28%)
8
Cost of revenue
5.02%
0.99×
Operating expenses
5.91%
1.07×
Goodwill & intangibles
16.63%
Spread over hurdle
(1.52%)