3,135
RevenueRp B
2,716
2,793
2,817
2,895
2,988
3,067
3,211
3,349
3,371
3,529
3,403
3.38%
2.79%
63
4.14
Revenue growth%
20.01
20.19
22.08
22.66
25.09
25.06
27.24
30.23
30.57
28.54
6.56
28.54
25.08
15
12.21
Gross margin%
21.32
19.63
19.19
21.36
19.25
20.90
22.76
25.20
27.50
27.87
16.95
25.20
21.34
56
17.92
Operating margin%
21.01
19.80
17.94
15.07
17.14
19.92
19.96
20.33
21.98
24.78
15.14
20.33
19.94
82
15.50
Net margin%
23.64
22.29
23.97
21.06
22.03
24.25
23.98
25.31
23.36
25.36
28.98
24.25
23.81
22
14.23
P/E ratio (avg)x
41.14
36.60
33.36
33.19
30.20
27.31
25.39
26.65
25.51
25.69
32.14
25.69
28.76
84
17.49
EV/EBITx
29.37
31.32
30.51
32.49
33.27
31.45
31.08
28.00
28.22
29.40
12.91
29.40
30.80
26
5.46
FCF yield (avg)%
17.37
16.83
18.22
16.30
16.58
15.23
16.50
13.97
15.89
13.66
28.61
15.23
16.40
89
20.34
FCF margin%
21.64
23.76
26.40
23.79
23.31
24.27
24.89
24.89
27.10
24.38
9.64
24.89
24.32
49
1.297
FCF / Net incomex
0.423
0.433
0.468
0.477
0.551
0.579
0.579
0.598
0.686
0.728
1.357
0.598
0.565
69
11.90
ROIC%
15.34
14.45
15.86
18.27
18.03
20.52
23.22
22.07
22.79
21.65
2.81
22.07
19.40
69
9.40
Return on equity%
10.18
9.04
11.68
12.70
14.95
12.95
15.19
12.28
15.21
15.83
10.57
15.19
12.83
76
26.52
Return on assets%
10.77
8.06
6.48
7.63
10.29
12.80
10.82
9.15
8.76
11.07
20.40
10.82
9.72
46
64.31
EPSRp
303.12
285.44
306.31
326.06
367.28
395.86
372.05
425.12
442.38
404.92
68.94
1.97%
3.47%
—
29.32
EPS growth%
19.10
17.77
17.74
19.69
17.74
16.58
15.42
14.53
15.81
15.28
20.39
15.42
17.16
43
307.42
Bookvalue per shRp
210.31
202.94
209.14
209.80
234.64
269.92
308.33
311.79
308.89
347.57
168.31
8.18%
4.74%
—
161.46
FCF per shareRp
409.54
459.26
510.23
533.02
572.25
652.42
665.80
763.26
849.84
940.52
82.25
10.45%
8.26%
—
57.89
Dividend per shRp
152.26
143.87
143.65
140.64
140.99
129.36
139.13
150.17
149.42
155.07
293.31
1.92%
0.75%
—
27.95
Div yield (avg)%
31.13
32.95
35.47
35.72
35.46
37.59
34.95
33.22
35.20
33.09
14.80
34.95
35.08
36
10.27
Payout ratio%
18.10
20.01
17.39
15.42
14.05
14.03
12.14
10.93
12.68
14.61
17.43
12.68
14.33
9
4.388
Shares (diluted)B
3.980
4.293
4.389
4.833
4.258
4.482
4.316
4.500
4.752
5.069
4.607
3.55%
3.44%
20
19.62
Buyback yield%
19.64
21.33
19.84
21.71
19.60
18.59
16.75
14.29
17.16
18.51
19.99
17.16
19.10
46
0.590
D/E ratiox
1.320
1.504
1.584
1.720
1.731
2.034
2.227
2.618
3.117
3.277
0.609
2.618
1.882
36
1,447
Enterprise valueRp B
1,191
1,228
1,304
1,204
1,212
1,207
1,189
1,312
1,315
1,278
733.8
1.07%
(0.20%)
60
229.0
LT debtRp B
2,631
2,870
2,990
2,889
2,859
2,964
2,961
3,172
3,206
3,138
1,434
1.88%
1.06%
19
Cost of revenue
2.79%
1.00×
Operating expenses
2.87%
1.01×
Spread over hurdle
(2.97%)