1.408
RevenueNT$B
3.270
3.400
3.386
3.448
3.524
3.649
3.702
3.713
3.757
3.846
1.537
1.77%
1.85%
26
21.25
Revenue growth%
12.62
15.55
15.02
15.60
17.41
15.38
16.07
15.18
15.61
18.42
2.28
15.61
15.57
34
21.13
Gross margin%
20.57
23.06
24.06
24.91
26.79
28.88
31.85
28.92
31.45
32.38
21.36
31.45
27.84
33
6.70
Operating margin%
15.42
13.62
15.17
17.55
16.23
18.85
18.92
21.17
19.57
18.54
18.73
18.92
18.04
64
9.80
Net margin%
4.01
5.91
7.19
7.64
5.30
3.01
0.40
0.40
0.40
1.25
24.93
0.40
3.51
91
30.53
P/E ratio (avg)x
22.58
27.40
27.59
31.09
30.59
32.16
34.17
38.24
46.29
55.29
25.41
38.24
31.63
68
13.99
EV/EBITx
21.17
23.52
22.60
22.44
25.12
24.03
23.72
25.22
26.10
24.51
27.92
24.51
23.87
26
8.74
FCF yield (avg)%
9.43
10.98
8.22
5.82
8.72
5.75
6.76
7.42
8.48
9.32
27.66
7.42
8.35
44
20.53
FCF margin%
29.34
31.99
31.85
33.78
32.72
35.49
38.49
38.96
39.27
38.95
24.86
38.95
34.63
71
1.297
FCF / Net incomex
1.889
1.987
1.957
2.043
2.311
2.351
2.601
2.982
2.847
3.341
1.482
2.847
2.331
41
8.08
ROIC%
22.63
20.25
21.07
22.94
20.51
17.70
18.66
21.43
23.07
20.70
7.01
20.70
20.89
46
8.77
Return on equity%
2.37
3.38
3.36
4.94
7.57
9.64
8.86
10.44
11.20
12.04
16.46
10.44
8.21
80
4.81
Return on assets%
4.78
7.11
8.09
6.07
4.94
4.40
3.18
5.51
5.97
8.86
2.39
5.51
5.74
76
13.07
EPSNT$
16.65
16.16
16.97
17.80
19.28
21.92
25.44
29.96
31.81
37.70
14.16
14.35%
10.06%
—
14.24
EPS growth%
12.08
14.21
11.45
13.94
11.43
11.74
9.31
11.39
10.66
12.58
20.25
11.39
11.59
37
41.20
Bookvalue per shNT$
79.91
87.05
98.85
108.37
118.71
137.59
143.67
148.49
145.95
143.24
31.62
3.83%
7.61%
—
52.74
FCF per shareNT$
49.16
50.28
55.07
62.90
70.02
75.31
85.76
87.19
83.96
93.68
23.88
5.99%
6.26%
—
63.78
Dividend per shNT$
29.12
30.35
33.53
32.61
31.11
32.38
33.94
35.37
37.90
36.86
55.41
3.45%
2.22%
—
12.17
Div yield (avg)%
5.86
7.94
6.64
9.15
8.59
7.26
8.19
7.81
10.45
11.09
2.66
8.19
8.07
86
29.98
Payout ratio%
19.42
17.72
16.14
19.09
17.46
18.84
21.24
24.17
23.08
23.77
3.69
23.08
19.26
8
41.56
Shares (diluted)M
73.43
76.18
85.81
98.43
119.1
125.3
151.5
160.6
181.7
186.0
41.03
9.32%
10.67%
56
14.87
Buyback yield%
23.47
26.23
26.75
28.66
28.72
31.02
30.89
33.13
32.55
35.50
26.46
32.55
29.80
73
1.564
D/E ratiox
0.334
0.361
0.415
0.463
0.452
0.499
0.529
0.522
0.602
0.637
1.239
0.529
0.481
68
1.303
Enterprise valueNT$B
2.433
2.918
3.395
3.937
4.080
4.488
5.154
5.178
5.671
6.687
2.463
10.39%
11.45%
33
0.336
LT debtNT$B
1.893
2.092
1.933
1.924
1.833
2.092
2.103
2.386
2.692
2.987
2.172
10.26%
4.39%
65
Cost of revenue
2.21%
1.04×
Operating expenses
1.43%
0.96×
Property and equipment
18.02%
Spread over hurdle
(0.51%)