2,754
RevenueRp B
2,383
2,532
2,642
2,762
2,864
2,938
3,106
3,210
3,378
3,597
2,834
4.67%
4.69%
13
27.46
Revenue growth%
3.29
2.05
1.99
1.92
0.40
0.40
0.40
2.88
3.83
4.89
22.94
2.88
2.02
82
3.89
Gross margin%
22.08
21.02
18.12
17.02
14.90
16.55
15.81
17.71
15.67
13.98
18.69
15.81
16.78
62
7.37
Operating margin%
10.44
11.00
9.62
8.75
11.27
10.32
8.56
10.73
9.52
7.37
19.47
9.52
9.97
27
18.87
Net margin%
10.33
12.57
10.29
9.34
6.79
4.82
2.57
4.42
1.80
4.78
21.34
4.42
5.80
83
28.46
P/E ratio (avg)x
54.26
55.72
54.55
63.19
72.44
74.24
80.82
80.59
78.68
86.67
6.711
80.59
73.34
91
12.04
EV/EBITx
20.93
19.65
20.21
22.15
23.58
21.32
22.02
21.08
23.27
25.67
29.55
22.02
21.67
56
27.74
FCF yield (avg)%
15.40
12.81
12.18
12.54
10.62
8.39
5.40
5.63
4.31
2.19
3.26
5.40
9.50
21
9.72
FCF margin%
24.61
27.23
26.82
27.60
28.57
28.44
28.93
30.10
29.55
29.57
9.61
29.55
28.51
33
0.995
FCF / Net incomex
0.852
0.965
0.934
1.047
1.225
1.164
1.242
1.275
1.321
1.510
0.719
1.275
1.194
8
11.71
ROIC%
33.00
35.59
35.56
35.36
35.40
33.52
34.68
35.81
35.15
36.87
25.23
35.15
35.38
73
29.22
Return on equity%
7.97
10.07
10.02
12.51
10.66
10.95
9.26
7.14
8.91
9.97
8.10
9.26
10.00
49
25.31
Return on assets%
20.98
19.30
20.60
22.25
20.50
19.31
22.29
22.86
23.99
25.01
8.76
22.86
21.61
61
8.35
EPSRp
41.34
38.20
34.99
37.35
39.91
43.18
44.69
42.17
43.32
45.07
9.12
2.46%
1.15%
—
7.77
EPS growth%
21.03
21.14
20.71
21.51
24.48
23.21
21.68
23.64
23.56
20.58
15.97
23.21
21.60
46
8.69
Bookvalue per shRp
40.32
37.84
34.27
32.39
33.61
32.70
33.78
31.57
32.18
32.33
32.74
(0.77%)
(2.47%)
—
6.39
FCF per shareRp
37.45
40.63
40.96
38.77
34.95
36.67
34.86
31.56
32.15
33.03
11.97
(1.13%)
(2.50%)
—
13.17
Dividend per shRp
35.24
35.62
35.19
36.49
35.01
38.87
41.54
49.47
49.95
57.63
33.34
10.48%
5.00%
—
17.00
Div yield (avg)%
6.72
9.56
10.97
12.92
14.32
11.51
10.60
7.61
5.40
7.57
11.15
7.61
10.08
73
18.78
Payout ratio%
3.95
3.29
2.75
2.90
1.28
0.40
0.40
2.30
2.12
0.40
29.10
0.40
2.21
37
47.69
Shares (diluted)B
39.41
38.43
39.20
35.12
31.08
30.91
32.52
28.43
29.12
24.86
48.32
(4.36%)
(5.22%)
45
18.63
Buyback yield%
15.20
17.73
20.11
20.73
20.00
17.12
16.14
15.94
15.80
14.86
26.69
15.94
16.63
47
0.223
D/E ratiox
1.336
1.508
1.478
1.597
1.842
2.049
2.164
2.048
2.402
2.364
0.629
2.164
1.945
29
2,160
Enterprise valueRp B
4,006
4,141
4,151
4,613
5,087
5,789
6,828
8,160
8,880
8,652
1,083
11.21%
9.08%
57
1,529
LT debtRp B
363.1
388.3
382.8
379.1
439.4
498.0
485.4
483.1
448.0
452.6
699.5
0.60%
1.71%
93
Cost of revenue
4.68%
1.00×
Operating expenses
4.88%
1.02×
Cash and investments
19.54%
Spread over hurdle
(2.29%)