644.6
RevenueNT$M
421.1
444.3
484.3
512.2
555.0
592.9
627.5
673.5
718.8
787.5
673.0
7.25%
7.25%
7
26.81
Revenue growth%
13.53
10.76
8.75
6.45
5.97
7.45
6.41
6.71
4.03
1.94
7.05
6.41
6.58
34
29.50
Gross margin%
13.01
12.13
13.65
16.64
16.38
13.98
12.98
14.12
14.03
15.70
19.25
14.03
14.00
27
13.66
Operating margin%
8.30
10.21
7.68
5.13
2.70
0.62
3.11
5.51
3.58
4.07
27.15
3.58
4.60
69
6.17
Net margin%
18.26
15.57
17.34
16.76
15.66
12.85
11.53
13.37
13.14
11.10
17.91
12.85
14.47
50
26.12
P/E ratio (avg)x
20.14
19.80
19.98
22.05
22.94
25.36
26.11
26.81
30.55
29.33
36.07
26.81
24.15
9
18.98
EV/EBITx
28.03
27.05
28.35
30.85
31.38
34.07
30.13
31.23
32.30
28.71
23.31
31.23
30.49
10
28.89
FCF yield (avg)%
5.68
7.91
5.57
3.19
2.36
1.14
0.40
0.40
0.40
2.21
22.16
0.40
2.28
57
27.25
FCF margin%
26.26
24.56
24.18
25.42
27.05
26.20
26.33
24.10
23.33
23.00
21.73
24.10
24.99
10
1.748
FCF / Net incomex
1.203
1.125
1.043
1.106
1.076
1.170
1.214
1.215
1.353
1.256
1.764
1.215
1.186
88
19.32
ROIC%
13.30
12.04
14.38
15.03
16.30
14.09
11.47
14.10
14.20
13.68
21.77
14.09
14.09
76
20.45
Return on equity%
24.64
23.48
23.45
25.21
27.39
27.62
28.34
28.01
29.27
31.31
20.73
28.34
27.50
61
28.86
Return on assets%
7.26
4.51
5.89
8.66
8.19
7.10
7.74
7.68
6.29
5.70
16.59
7.10
7.18
69
10.53
EPSNT$
20.11
22.01
24.11
23.44
23.91
27.29
28.67
31.31
33.86
33.69
11.11
7.10%
6.28%
—
15.77
EPS growth%
19.65
20.68
20.07
17.28
17.64
17.35
16.96
14.77
16.03
14.35
12.25
16.03
17.32
32
19.35
Bookvalue per shNT$
6.62
7.19
8.09
9.46
9.88
10.00
10.67
11.74
13.06
14.74
14.94
8.32%
9.87%
—
10.08
FCF per shareNT$
3.77
3.69
3.86
4.05
4.16
3.89
3.61
3.94
4.03
3.87
12.14
(1.40%)
0.60%
—
8.74
Dividend per shNT$
3.58
3.43
3.42
3.10
3.48
3.47
3.26
3.54
3.45
3.72
17.59
1.30%
0.96%
—
27.03
Div yield (avg)%
0.68
3.51
4.93
6.95
9.26
10.09
7.60
9.22
7.78
8.19
13.71
8.19
7.69
62
19.66
Payout ratio%
9.13
11.68
13.89
12.34
9.65
11.76
12.52
9.59
7.91
9.31
18.69
9.59
10.66
56
40.55
Shares (diluted)M
51.11
51.51
54.92
53.58
51.76
47.29
41.45
44.79
38.68
35.74
38.90
(7.14%)
(2.95%)
20
24.81
Buyback yield%
12.91
10.77
11.53
12.87
13.17
12.30
10.92
9.31
10.34
10.43
24.77
10.43
11.22
33
0.543
D/E ratiox
1.505
1.787
2.118
2.133
2.304
2.758
2.867
2.881
2.845
2.918
0.385
2.867
2.531
44
944.9
Enterprise valueNT$M
215.6
242.0
257.7
285.5
311.2
361.3
389.8
454.8
468.9
508.0
550.0
10.30%
8.99%
85
0.246
LT debtNT$B
1.120
1.136
1.289
1.356
1.441
1.404
1.521
1.691
1.675
1.978
0.394
6.55%
6.65%
22
Cost of revenue
7.16%
0.99×
Operating expenses
6.58%
0.94×
Property and equipment
16.39%
Spread over hurdle
(1.59%)