60.80
RevenueR$M
155.7
163.2
173.5
178.7
187.0
197.8
204.7
216.3
229.7
238.3
63.95
4.97%
4.81%
94
15.63
Revenue growth%
21.12
19.33
21.38
21.30
23.60
24.79
27.10
27.85
28.54
31.24
26.02
27.85
24.20
74
28.96
Gross margin%
15.81
18.33
18.22
19.77
22.72
22.31
22.49
22.57
20.07
19.64
20.76
22.31
19.92
83
9.91
Operating margin%
31.77
34.54
36.55
35.25
36.26
34.31
31.96
32.57
35.12
35.30
14.51
34.31
34.83
90
15.27
Net margin%
11.70
13.26
13.01
13.38
15.86
15.92
14.41
13.02
15.72
16.55
23.61
15.72
13.90
51
24.34
P/E ratio (avg)x
30.67
33.39
34.84
37.58
33.93
36.23
37.64
37.25
35.50
32.59
17.48
36.23
35.17
80
32.60
EV/EBITx
23.29
20.61
21.98
21.55
23.67
22.21
20.16
21.51
20.26
18.50
6.665
20.26
21.53
66
9.42
FCF yield (avg)%
28.05
27.63
25.57
22.72
22.82
20.04
19.80
22.51
19.74
22.41
23.32
20.04
22.61
65
20.02
FCF margin%
12.94
11.20
12.88
10.02
12.76
12.02
9.74
9.21
8.86
10.50
11.11
9.74
10.85
67
0.904
FCF / Net incomex
1.055
1.002
1.155
1.295
1.431
1.449
1.469
1.592
1.809
1.993
1.071
1.592
1.440
29
17.41
ROIC%
21.99
23.70
20.80
18.78
19.66
21.96
23.01
21.55
19.24
20.50
12.71
21.55
21.17
41
17.89
Return on equity%
17.60
18.71
16.91
16.19
19.10
18.58
21.41
19.39
17.78
18.95
19.59
18.95
18.64
27
11.15
Return on assets%
3.10
1.87
0.81
0.40
0.40
0.40
0.40
0.40
0.40
2.31
29.51
0.40
0.40
52
0.98
EPSR$
0.27
0.27
0.29
0.34
0.33
0.35
0.37
0.41
0.47
0.52
1.05
9.69%
6.30%
—
10.37
EPS growth%
0.83
0.86
2.72
2.30
0.40
0.40
0.40
1.22
3.01
4.02
24.55
1.22
1.04
60
1.63
Bookvalue per shR$
1.16
1.32
1.49
1.72
1.94
2.09
2.17
2.43
2.64
2.95
1.51
8.81%
10.78%
—
0.36
FCF per shareR$
1.52
1.71
1.88
1.92
2.23
2.15
2.28
2.43
2.67
2.51
0.65
2.38%
5.36%
—
1.49
Dividend per shR$
1.12
0.99
0.90
0.97
0.88
0.84
0.85
0.76
0.70
0.66
1.10
(5.52%)
(5.16%)
—
28.68
Div yield (avg)%
20.53
23.11
20.23
18.57
18.89
18.98
19.20
16.72
16.73
13.81
25.42
16.73
18.94
85
3.06
Payout ratio%
20.29
22.37
21.56
20.70
21.42
20.12
23.06
24.66
24.10
25.48
9.50
24.10
21.97
67
65.50
Shares (diluted)M
63.67
62.71
57.85
57.47
56.86
60.56
59.70
63.12
57.31
62.29
64.84
1.84%
(1.15%)
90
15.17
Buyback yield%
19.01
19.43
20.04
20.57
19.64
20.85
20.34
23.08
22.74
23.22
16.46
22.74
20.46
22
1.140
D/E ratiox
1.040
1.088
1.133
1.155
1.137
1.087
1.220
1.296
1.338
1.309
1.778
1.296
1.146
38
239.3
Enterprise valueR$M
129.2
123.9
109.0
97.26
86.76
79.23
81.77
86.17
87.36
77.24
248.5
(2.30%)
(4.50%)
40
140.2
LT debtR$M
57.49
64.34
62.05
67.41
75.60
86.96
96.81
103.3
105.8
105.0
52.25
6.80%
7.78%
69
Revenue
R$238.3M
4.81%
1.00×
Cost of revenue
R$166.8M
4.81%
1.00×
Operating expenses
R$39.51M
5.70%
1.09×
Cash and investments
15.12%
Spread over hurdle
(5.92%)