1.031
Revenue€B
1.683
1.804
1.899
2.054
2.171
2.341
2.491
2.655
2.768
2.992
1.121
6.63%
6.44%
83
22.15
Revenue growth%
17.14
19.60
17.47
16.52
15.31
13.49
12.53
10.45
11.48
11.67
12.13
11.67
14.40
6
10.54
Gross margin%
4.71
2.48
4.90
7.78
6.22
8.09
5.64
6.80
8.11
9.76
9.17
8.09
6.51
87
6.20
Operating margin%
27.63
25.69
25.50
25.45
26.71
29.30
28.12
27.31
27.45
25.14
19.22
27.45
27.01
30
25.52
Net margin%
0.40
0.40
0.40
0.40
2.39
4.16
2.00
0.40
0.40
2.27
17.91
2.00
0.40
53
20.81
P/E ratio (avg)x
46.85
50.42
52.14
51.07
56.88
55.40
62.55
63.63
73.94
79.17
34.83
63.63
56.14
83
17.17
EV/EBITx
20.46
21.10
25.01
25.22
27.30
30.36
29.99
35.36
39.68
38.66
34.25
35.36
28.64
91
25.84
FCF yield (avg)%
28.35
28.92
27.02
28.22
27.16
25.46
24.49
23.22
23.14
25.83
10.38
24.49
26.42
9
12.93
FCF margin%
23.15
25.72
25.70
28.64
27.17
28.73
26.14
24.45
22.28
21.78
13.75
24.45
25.71
95
0.902
FCF / Net incomex
0.805
0.875
0.875
0.957
1.087
1.118
1.082
1.208
1.361
1.306
0.560
1.208
1.085
58
20.33
ROIC%
16.54
17.15
17.02
16.54
18.84
19.13
19.50
21.78
19.89
21.06
11.27
19.89
18.99
55
27.31
Return on equity%
13.91
13.70
11.50
11.71
8.87
6.12
7.44
6.22
6.93
9.69
4.97
6.93
9.28
90
29.76
Return on assets%
21.89
21.09
23.91
26.10
23.71
24.12
24.40
21.91
21.58
21.35
24.13
21.91
22.81
83
12.14
EPS€
5.30
4.82
5.01
4.30
4.29
3.71
3.15
3.30
3.35
3.62
12.84
(3.37%)
(3.16%)
—
14.41
EPS growth%
14.61
16.90
17.47
16.16
16.77
16.29
14.40
13.26
13.25
13.86
27.37
13.86
15.38
11
7.81
Bookvalue per sh€
3.97
4.21
4.89
5.32
6.06
5.73
6.04
5.60
5.82
5.39
3.24
(2.29%)
2.89%
—
9.17
FCF per share€
18.65
20.95
22.12
21.77
23.42
23.63
26.50
27.19
24.36
25.49
5.49
1.72%
2.35%
—
14.77
Dividend per sh€
12.85
13.46
12.71
11.07
11.86
11.89
11.70
11.26
11.88
10.55
17.96
(2.32%)
(1.63%)
—
5.99
Div yield (avg)%
11.39
10.41
11.43
12.04
14.32
13.79
14.87
15.07
15.32
13.34
14.62
14.87
13.56
42
17.79
Payout ratio%
31.96
32.77
35.03
36.20
36.64
38.03
40.74
38.05
36.61
33.71
25.66
38.03
36.40
63
81.13
Shares (diluted)M
52.02
48.25
46.53
44.29
44.63
38.61
38.47
34.37
29.55
28.84
83.95
(8.36%)
(6.22%)
18
9.35
Buyback yield%
15.86
13.15
15.32
15.40
14.79
16.37
15.31
14.16
14.19
11.62
7.72
14.19
15.05
34
1.447
D/E ratiox
0.120
0.106
0.110
0.103
0.101
0.094
0.081
0.076
0.082
0.074
0.729
0.081
0.097
40
0.142
Enterprise value€B
2.741
3.079
2.823
3.045
3.306
3.036
3.167
3.171
3.598
3.585
1.150
1.63%
3.51%
54
1.394
LT debt€B
1.497
1.355
1.345
1.143
1.102
1.053
1.036
1.085
1.027
0.938
3.171
(3.18%)
(3.97%)
65
Revenue
€2.992B
6.44%
1.00×
Cost of revenue
€1.894B
6.54%
1.01×
Operating expenses
€451.7M
6.36%
0.99×
Goodwill & intangibles
16.67%
Spread over hurdle
(3.56%)