3,436
RevenueRp B
2,484
2,650
2,863
3,060
3,365
3,657
3,863
4,099
4,398
4,686
3,834
6.85%
7.57%
64
13.30
Revenue growth%
14.77
15.38
14.83
15.99
15.55
15.96
16.54
14.84
15.58
14.22
28.33
15.58
15.47
64
9.70
Gross margin%
5.98
6.41
6.43
4.38
4.14
3.47
2.89
1.03
3.33
2.37
3.66
2.89
3.81
19
10.68
Operating margin%
20.10
21.52
21.11
24.02
23.68
26.35
27.26
27.90
30.26
31.66
24.73
27.90
25.19
51
3.18
Net margin%
2.17
2.85
4.28
4.25
5.79
8.31
7.38
7.92
6.11
3.98
18.20
7.38
5.04
93
11.63
P/E ratio (avg)x
32.71
32.17
28.12
29.75
27.08
26.44
28.79
25.80
24.74
23.44
30.64
25.80
27.60
8
25.06
EV/EBITx
21.86
24.42
28.59
31.69
35.59
39.37
43.31
51.19
52.39
50.64
19.04
50.64
37.48
62
12.91
FCF yield (avg)%
23.87
26.75
25.26
27.89
27.38
26.57
24.02
25.55
24.39
27.02
21.33
25.55
26.06
8
24.99
FCF margin%
14.93
12.61
11.23
13.33
13.04
15.15
12.30
14.16
16.76
19.07
13.60
15.15
13.75
61
0.795
FCF / Net incomex
0.869
0.817
0.862
0.784
0.761
0.852
0.864
0.877
0.966
0.940
1.288
0.877
0.863
6
12.94
ROIC%
26.95
24.18
23.09
21.70
21.44
19.80
19.82
20.70
19.71
20.17
9.31
19.82
21.07
78
29.27
Return on equity%
17.37
16.86
18.46
15.76
13.07
12.24
15.11
14.82
17.06
18.19
14.62
15.11
16.31
81
21.74
Return on assets%
25.10
23.96
21.84
21.90
20.52
18.38
20.77
18.72
17.07
15.73
16.68
18.38
20.64
15
48.34
EPSRp
113.69
103.54
88.80
78.99
73.47
73.26
67.97
66.50
62.62
55.41
51.42
(5.49%)
(6.77%)
—
27.28
EPS growth%
20.23
21.49
18.67
16.66
19.10
16.97
17.56
16.54
16.88
19.71
2.91
16.97
18.12
86
108.55
Bookvalue per shRp
163.57
174.02
191.27
202.72
190.13
180.80
187.75
194.27
173.70
185.90
59.83
(0.45%)
1.75%
—
140.72
FCF per shareRp
58.60
57.80
62.43
63.17
62.75
67.67
63.43
62.93
68.21
62.25
168.65
(0.16%)
(0.58%)
—
167.46
Dividend per shRp
89.69
89.23
84.22
85.84
79.39
79.77
88.77
87.00
95.15
91.31
128.40
2.84%
1.45%
—
5.35
Div yield (avg)%
18.38
18.37
15.99
14.63
16.05
13.06
11.26
9.26
6.49
7.68
7.42
9.26
13.85
54
12.51
Payout ratio%
32.14
31.35
30.94
28.73
27.53
29.40
31.87
34.18
36.99
39.53
29.01
34.18
31.61
91
22.31
Shares (diluted)B
25.94
28.58
28.01
27.58
25.00
24.68
25.95
27.72
29.86
33.05
22.19
5.74%
1.92%
21
2.62
Buyback yield%
24.52
24.32
23.65
22.43
25.35
24.34
26.62
25.57
26.48
24.95
27.90
25.57
24.73
90
0.297
D/E ratiox
1.293
1.209
1.103
1.059
0.973
1.027
1.115
1.094
1.072
1.124
1.121
1.094
1.099
33
1,263
Enterprise valueRp B
5,276
5,302
6,006
6,289
5,985
6,275
6,922
7,319
8,040
8,399
4,300
7.01%
5.92%
53
1,733
LT debtRp B
481.0
531.0
632.6
686.7
691.9
785.1
893.2
978.5
1,160
1,292
213.9
13.30%
10.89%
55
Cost of revenue
7.62%
1.00×
Operating expenses
8.14%
1.05×
Goodwill & intangibles
19.19%
Property and equipment
18.06%
Cash and investments
15.66%
Spread over hurdle
(3.67%)