336.1
Revenue¥M
491.9
520.1
552.8
589.2
620.2
656.0
685.5
727.2
780.5
842.5
356.1
6.32%
6.13%
29
14.56
Revenue growth%
20.47
22.38
24.44
21.46
22.48
23.30
24.59
27.12
29.14
29.46
28.77
27.12
23.87
64
13.88
Gross margin%
23.54
23.69
23.66
21.15
19.05
21.21
22.55
23.96
25.83
27.27
22.80
23.96
23.60
77
8.73
Operating margin%
4.05
5.01
5.06
3.84
5.28
3.23
2.87
0.40
0.40
2.72
13.95
2.72
3.53
26
12.50
Net margin%
22.50
23.43
22.61
25.41
22.70
22.63
23.92
23.74
21.13
22.18
9.81
22.63
22.67
59
25.60
P/E ratio (avg)x
11.95
10.83
10.66
10.18
11.55
11.52
11.64
12.77
11.82
11.01
25.06
11.64
11.54
80
14.04
EV/EBITx
34.96
38.08
36.35
36.97
37.79
35.57
33.11
35.09
32.00
35.14
37.57
35.09
35.35
57
27.95
FCF yield (avg)%
23.62
23.16
22.60
23.56
25.44
27.78
28.00
29.55
27.53
24.88
5.10
27.78
25.16
67
25.49
FCF margin%
12.73
10.82
10.25
8.39
7.69
7.52
9.11
6.49
7.84
9.88
17.45
7.84
8.75
25
1.096
FCF / Net incomex
1.093
1.264
1.462
1.577
1.497
1.610
1.795
1.979
2.230
2.543
0.444
1.979
1.593
92
7.58
ROIC%
13.00
10.20
7.90
8.19
9.30
11.41
9.20
9.13
10.79
9.85
16.08
9.85
9.58
36
28.37
Return on equity%
24.26
25.24
25.99
24.31
23.85
23.58
23.43
24.90
23.31
25.76
23.00
23.58
24.28
38
25.23
Return on assets%
28.01
28.60
27.51
28.12
27.75
26.86
29.40
31.56
29.64
29.32
28.62
29.40
28.36
83
0.15
EPS¥
0.82
0.86
0.85
0.86
0.97
1.02
1.15
1.07
1.12
1.09
0.16
2.29%
4.18%
—
9.31
EPS growth%
11.52
10.07
12.13
11.39
12.39
13.70
11.97
10.30
8.44
10.81
26.92
10.81
11.45
24
0.28
Bookvalue per sh¥
1.29
1.28
1.26
1.27
1.30
1.52
1.53
1.77
2.07
2.00
0.60
8.98%
5.92%
—
0.21
FCF per share¥
0.18
0.17
0.15
0.14
0.14
0.13
0.13
0.12
0.13
0.14
0.70
(0.31%)
(2.60%)
—
0.35
Dividend per sh¥
0.15
0.17
0.20
0.21
0.21
0.20
0.21
0.23
0.27
0.30
0.49
7.88%
7.50%
—
12.90
Div yield (avg)%
20.19
21.20
21.54
21.04
19.35
20.03
21.42
19.05
16.13
17.39
26.42
19.05
20.11
22
26.41
Payout ratio%
15.87
15.64
14.70
14.01
12.57
13.11
15.92
14.09
12.75
15.63
22.12
14.09
14.40
42
490.3
Shares (diluted)M
509.6
474.9
491.2
470.7
440.5
439.9
445.7
415.9
478.4
496.4
472.8
2.42%
(0.87%)
62
11.21
Buyback yield%
17.81
17.17
14.39
13.52
14.98
12.45
12.44
14.22
13.24
15.85
3.52
13.24
14.30
60
1.381
D/E ratiox
0.202
0.244
0.242
0.290
0.290
0.284
0.335
0.343
0.414
0.435
1.730
0.343
0.290
62
0.060
Enterprise value¥B
0.818
0.857
0.975
0.949
0.963
1.034
1.160
1.247
1.192
1.349
0.086
6.96%
6.83%
44
601.5
LT debt¥M
284.1
296.6
328.7
366.4
368.1
399.4
445.2
416.0
461.4
509.6
641.1
6.72%
7.43%
36
Revenue
¥842.5M
6.13%
1.00×
Cost of revenue
¥540.1M
5.93%
0.98×
Operating expenses
¥194.8M
6.54%
1.04×
Cash and investments
15.75%
Property and equipment
15.72%
Spread over hurdle
(5.98%)