130.5
RevenueNT$M
192.5
197.0
206.5
218.4
223.1
229.7
238.8
247.4
257.1
274.1
133.2
4.20%
3.96%
70
24.58
Revenue growth%
26.92
26.78
24.66
24.32
22.15
20.90
21.62
18.65
18.69
17.17
14.49
18.69
21.89
41
11.50
Gross margin%
21.31
23.24
24.83
27.05
25.91
25.35
26.18
23.21
26.09
23.79
16.83
25.35
25.09
23
5.04
Operating margin%
22.18
24.43
26.42
29.42
31.67
31.95
33.81
36.16
34.29
35.32
14.40
34.29
31.81
80
18.18
Net margin%
11.67
13.39
16.02
14.64
14.37
12.88
10.57
13.17
14.14
12.00
26.05
12.88
13.28
43
28.12
P/E ratio (avg)x
31.75
30.95
29.87
30.61
30.15
27.06
26.50
26.95
24.43
22.64
22.71
26.50
28.46
40
25.35
EV/EBITx
35.17
38.14
37.22
35.55
35.59
33.10
37.64
38.28
35.85
37.32
6.730
37.32
36.53
23
7.40
FCF yield (avg)%
1.16
0.40
2.30
0.40
1.38
2.30
3.86
2.52
0.87
3.77
26.09
2.52
1.84
88
7.61
FCF margin%
16.10
14.57
15.05
13.59
14.30
13.99
11.81
14.81
15.48
15.76
3.05
14.81
14.69
71
0.894
FCF / Net incomex
1.132
1.113
1.144
1.124
1.173
1.068
1.178
1.056
1.094
1.046
0.402
1.068
1.119
43
21.71
ROIC%
25.56
26.41
26.35
28.16
27.24
25.13
22.28
20.74
19.88
20.05
9.18
20.74
25.34
74
9.07
Return on equity%
22.52
24.30
24.82
26.83
27.88
27.23
25.62
25.68
25.51
27.21
20.62
25.68
25.65
34
4.05
Return on assets%
14.76
13.38
14.38
12.10
12.58
9.70
11.06
9.10
7.62
9.13
25.82
9.13
11.58
54
2.56
EPSNT$
1.83
1.97
2.08
2.11
2.03
1.95
1.83
1.61
1.40
1.25
2.64
(9.30%)
(4.17%)
—
25.11
EPS growth%
15.17
15.06
16.80
18.08
16.76
15.36
15.50
14.52
13.50
13.81
22.47
14.52
15.27
92
2.26
Bookvalue per shNT$
1.00
0.96
1.03
1.16
1.36
1.61
1.57
1.80
1.71
1.62
0.54
3.61%
4.99%
—
1.97
FCF per shareNT$
2.06
1.83
1.60
1.37
1.38
1.28
1.32
1.12
0.99
0.89
0.80
(8.42%)
(9.44%)
—
1.88
Dividend per shNT$
1.09
1.29
1.33
1.46
1.57
1.75
2.02
2.43
2.58
2.53
1.82
10.04%
9.13%
—
11.87
Div yield (avg)%
21.72
23.30
22.12
19.85
20.39
20.05
17.95
20.35
19.81
18.91
4.93
19.81
20.20
6
22.93
Payout ratio%
22.46
24.12
23.39
24.67
26.42
26.54
23.74
21.64
23.83
24.08
15.19
23.83
23.95
21
81.01
Shares (diluted)M
68.44
60.22
57.66
55.06
58.72
50.53
50.85
53.09
53.10
47.61
81.12
(4.11%)
(3.25%)
79
13.51
Buyback yield%
18.97
21.20
21.83
20.56
18.38
19.72
17.04
14.06
13.29
15.50
8.04
15.50
18.67
21
0.461
D/E ratiox
0.621
0.666
0.612
0.687
0.649
0.739
0.689
0.797
0.868
0.855
0.776
0.797
0.688
86
32.26
Enterprise valueNT$M
158.1
173.3
179.7
169.5
183.5
181.6
191.6
194.1
186.9
205.1
55.87
2.25%
2.25%
19
202.2
LT debtNT$M
326.3
316.5
356.0
413.0
423.0
499.2
503.9
491.2
560.7
554.9
186.1
5.58%
6.92%
64
Cost of revenue
3.75%
0.98×
Operating expenses
3.92%
1.00×
Cash and investments
17.45%
Spread over hurdle
(0.02%)