3.346
Revenue€B
2.501
2.726
2.898
3.150
3.370
3.622
3.866
4.129
4.464
4.743
3.670
7.08%
7.43%
86
15.19
Revenue growth%
25.85
27.85
29.01
31.28
31.27
32.30
34.32
35.08
33.21
33.07
14.10
33.21
31.79
10
22.39
Gross margin%
12.08
11.72
10.82
8.31
8.80
6.93
8.84
10.62
10.71
12.79
15.39
10.62
10.66
85
24.56
Operating margin%
26.36
23.98
22.74
24.34
21.94
22.59
25.08
25.59
24.77
24.09
24.07
24.77
24.21
8
24.90
Net margin%
15.81
17.73
18.92
20.24
22.99
25.79
26.38
27.56
28.34
27.60
29.03
27.56
24.39
16
7.650
P/E ratio (avg)x
30.00
34.46
34.66
34.70
36.71
36.14
42.00
43.22
46.31
43.64
33.78
43.22
36.43
44
10.13
EV/EBITx
15.14
15.02
17.05
19.88
21.32
24.04
23.80
23.61
27.95
30.23
26.36
24.04
22.47
89
17.08
FCF yield (avg)%
18.69
19.14
19.63
22.26
22.45
22.23
21.45
21.67
24.35
25.96
7.38
22.23
21.95
11
7.86
FCF margin%
32.49
29.78
32.65
33.35
34.35
33.16
31.85
31.33
28.79
30.38
13.57
31.33
32.17
6
0.935
FCF / Net incomex
0.662
0.669
0.651
0.742
0.740
0.808
0.824
0.781
0.878
0.940
0.669
0.824
0.761
56
21.53
ROIC%
19.73
19.15
18.14
19.07
21.35
23.70
21.60
21.04
19.89
17.24
18.03
21.04
19.81
40
13.15
Return on equity%
10.14
11.62
11.84
9.27
8.89
7.01
7.45
5.03
7.53
6.73
16.80
7.01
8.21
24
20.33
Return on assets%
21.19
22.33
22.92
22.19
21.04
22.74
22.62
24.60
24.23
23.85
13.30
23.85
22.68
16
8.96
EPS€
3.52
3.72
3.55
3.18
2.93
2.87
2.75
2.76
3.12
3.46
9.76
3.39%
0.67%
—
23.36
EPS growth%
18.35
17.88
16.70
16.76
14.00
13.75
16.17
17.18
16.98
16.55
7.53
16.55
16.73
17
10.24
Bookvalue per sh€
8.17
7.40
8.39
8.95
9.90
9.97
9.12
9.21
8.85
8.55
6.16
(2.89%)
0.17%
—
11.31
FCF per share€
2.01
1.96
1.71
1.78
1.63
1.67
1.67
1.63
1.52
1.58
7.82
(0.55%)
(3.97%)
—
9.47
Dividend per sh€
7.17
6.93
7.67
7.36
7.16
6.48
6.81
7.28
7.85
7.42
4.43
0.69%
0.78%
—
15.58
Div yield (avg)%
24.51
26.80
23.99
23.94
25.08
25.00
24.41
26.97
24.78
24.90
10.68
24.90
24.84
15
18.95
Payout ratio%
7.75
5.21
2.39
1.47
0.40
1.52
4.30
4.60
7.58
8.56
2.89
4.60
4.45
53
387.5
Shares (diluted)M
388.5
424.7
434.0
396.4
358.1
354.9
343.4
327.6
351.3
333.6
385.9
(1.41%)
(1.42%)
67
25.79
Buyback yield%
2.85
1.47
0.59
2.32
0.40
0.40
0.40
0.40
2.08
1.14
14.86
0.40
0.86
78
1.260
D/E ratiox
0.240
0.239
0.205
0.210
0.217
0.229
0.209
0.196
0.210
0.198
1.648
0.209
0.210
27
4.947
Enterprise value€B
2.802
3.021
2.940
3.008
3.005
3.575
4.123
4.520
4.417
4.506
2.079
8.44%
4.50%
81
3.339
LT debt€B
1.508
1.468
1.521
1.538
1.711
1.887
1.762
1.989
2.097
2.323
0.880
6.30%
5.58%
72
Revenue
€4.743B
7.43%
1.00×
Cost of revenue
€3.253B
7.76%
1.03×
Operating expenses
€953.5M
6.80%
0.94×
Cash and investments
16.95%
Property and equipment
15.17%
Spread over hurdle
(5.01%)