193.2
Revenue€M
116.9
122.0
128.2
135.9
145.7
153.9
165.8
177.7
186.5
194.9
212.9
6.00%
5.92%
31
29.84
Revenue growth%
29.16
31.54
32.68
32.97
33.29
33.28
35.85
34.36
32.10
34.61
8.30
34.36
33.13
65
17.78
Gross margin%
20.46
17.76
15.02
17.13
18.89
19.58
17.12
17.73
18.37
18.78
18.38
18.37
18.06
29
25.45
Operating margin%
6.29
4.79
3.78
2.93
5.89
5.31
3.11
5.78
3.64
6.01
26.51
5.31
5.05
54
14.53
Net margin%
16.82
19.31
22.03
20.25
19.43
19.67
19.02
16.26
15.23
15.33
4.94
16.26
19.16
10
23.44
P/E ratio (avg)x
11.70
13.57
14.86
15.59
16.50
17.05
18.54
20.70
23.93
24.78
13.72
20.70
16.78
37
31.45
EV/EBITx
15.06
14.18
15.36
14.77
16.27
17.32
15.80
14.93
13.56
14.05
12.02
14.93
15.00
53
23.35
FCF yield (avg)%
8.45
8.86
10.22
8.38
7.69
9.79
12.56
10.13
7.32
8.13
18.05
9.79
8.66
64
2.34
FCF margin%
23.79
23.12
24.82
24.70
27.42
29.02
27.54
29.73
32.72
34.08
15.32
29.73
27.48
7
0.624
FCF / Net incomex
0.954
1.141
1.280
1.277
1.235
1.195
1.255
1.273
1.512
1.799
1.616
1.273
1.264
65
23.14
ROIC%
21.04
21.41
18.45
21.00
23.29
22.72
22.34
21.92
21.10
19.12
20.20
21.92
21.25
76
6.74
Return on equity%
10.98
9.30
9.63
7.50
9.49
9.84
8.34
10.11
7.14
9.62
21.05
9.62
9.55
70
11.17
Return on assets%
4.48
6.16
8.52
7.51
10.14
12.95
12.83
13.02
11.25
12.97
15.91
12.95
10.70
63
0.03
EPS€
0.15
0.13
0.15
0.17
0.16
0.15
0.14
0.16
0.18
0.18
0.04
2.24%
1.38%
—
8.99
EPS growth%
3.13
6.10
7.45
6.83
6.03
5.33
5.22
5.63
6.84
8.15
28.38
5.63
6.06
86
0.04
Bookvalue per sh€
0.17
0.17
0.18
0.21
0.23
0.28
0.29
0.34
0.40
0.45
0.02
13.87%
11.44%
—
0.14
FCF per share€
0.14
0.14
0.15
0.16
0.16
0.16
0.19
0.22
0.24
0.24
0.04
8.53%
7.03%
—
0.15
Dividend per sh€
0.16
0.16
0.17
0.20
0.19
0.21
0.23
0.26
0.29
0.33
0.11
12.11%
6.95%
—
19.64
Div yield (avg)%
27.61
27.16
27.87
29.09
32.00
31.07
29.93
29.72
29.42
28.46
2.65
29.72
29.26
74
24.64
Payout ratio%
27.49
27.01
29.37
29.33
27.41
29.56
27.46
26.06
27.00
27.69
9.79
27.46
27.47
42
692.4
Shares (diluted)M
730.3
774.7
685.2
744.8
772.5
809.1
859.2
794.2
823.0
791.7
676.6
0.49%
0.40%
89
2.76
Buyback yield%
11.82
12.71
15.65
13.72
15.19
16.41
17.76
18.45
20.20
17.78
21.33
17.78
16.03
21
1.434
D/E ratiox
1.898
2.080
2.195
2.497
2.500
3.021
3.463
3.563
4.274
4.998
0.838
3.563
2.760
13
23.46
Enterprise value€M
158.4
144.8
163.9
152.6
170.9
166.5
158.9
163.6
155.7
162.4
39.68
(1.01%)
0.86%
55
72.01
LT debt€M
276.9
309.7
317.6
371.3
371.2
421.9
488.6
552.2
557.6
634.1
111.4
11.30%
10.28%
12
Revenue
€194.9M
5.92%
1.00×
Cost of revenue
€136.4M
5.92%
1.00×
Operating expenses
€39.57M
5.73%
0.98×
Property and equipment
22.38%
Spread over hurdle
(1.97%)